Went to the ATM yesterday at Siam Commerical Bank. I took off 16k baht. The charge in USD was $473 which comes out to 33.82 baht/USD, their website lists

US DOLLAR $50-$100 USD 34.54 34.72

What exchange rate do you get when you go to the ATM? Which banks offer fair rates? This drives me mad.

bump

Went to the ATM yesterday at Siam Commerical Bank. I took off 16k baht. The charge in USD was $473 which comes out to 33.82 baht/USD, their website lists

US DOLLAR $50-$100 USD 34.54 34.72

What exchange rate do you get when you go to the ATM? Which banks offer fair rates? This drives me mad.

It's not Siam Commercial that's changing your money when you go to the ATM, you're just using their ATM. However your bank clears it will affect the rate you get. Your bank may also take a piece of the exchange rate. I have an account that gives me the exchange rate, but two others take maybe 1% for ATM withdrawals.

My best rate is with Fidelity Investments, but I qualify for free ATM withdrawals. Otherwise they charge a fee. USAA Savings Bank also gives a good rate, though just a bit less. I think there's maybe a .25% fee they take. WAMU and Citibank I think give 98% or 99% of the exchange rate. Whatever it is, its about the same or worse than exchanging physical $100 bills. With my other accounts, I get better than that rate.

if i were to physically exhange $100 bills I would get 3472 baht/$100 bill with these rates, is that correct?

if i were to physically exhange $100 bills I would get 3472 baht/$100 bill with these rates, is that correct?

No, you would get 3454 baht. Although the retail rate may be a bit lower than posted on the website.

(If you wanted to buy dollars, you would need 3472 baht for a $100 bill)

anyone have an atm card from the usa that doesnt charge a fee or take a percentage?

Exchanging cash is usually not a great idea as the rate tends to be lower. Traveller's cheques are better.

For what it's worth (I realize you were asking about the US), all Swedish banks will charge either a flat fee or a percentage of the total sum withdrawn when using an ATM in Thailand to withdraw cash. Some apply both.

Went to the ATM yesterday at Siam Commerical Bank. I took off 16k baht. The charge in USD was $473 which comes out to 33.82 baht/USD, their website lists

US DOLLAR $50-$100 USD 34.54 34.72

What exchange rate do you get when you go to the ATM? Which banks offer fair rates? This drives me mad.

bump

was your "bump" because you were staggering around enebriated at 4.18am in the morning looking for an ATM?

BTW I find I get better rates with regional/Asian banks compared to say UK banks on the rate. The other one to watch is the transaction fee. Some banks charge 2%. Depending on how much you take out you need to watch a combination of best rate and transaction fee. Then there's also timing. Different time zones process your transcation at different times, so the rate can vary up and down anyway.

Went to the ATM yesterday at Siam Commerical Bank. I took off 16k baht. The charge in USD was $473 which comes out to 33.82 baht/USD, their website lists

US DOLLAR $50-$100 USD 34.54 34.72

What exchange rate do you get when you go to the ATM? Which banks offer fair rates? This drives me mad.

bump

Bumping yourself. Don't you realise you're in Thailand handsum man?