3 hours ago, rickudon said:

I use Krungsri bank to do a counter withdrawal at least once a month using my credit card. No fees (it is a Mastercard). Other banks have declined to do so or want to charge a fee. I usually take 50,000 baht a time. Never tried for more.

Just curious, what is the card-issuing bank for your Mastercard?

I have Citibank, BOA, Chase, Capital One & Barclays credit cards, and they charge foreign transaction fees for ATM withdrawals. Capital One & Barclays do not charge fees on foreign purchases. I've never tried a cash advance counter withdrawal with any of my cards, so I don't know what the fee would be. I use my Chase & Fidelity debit cards for ATM withdrawals. They have no fees, and they both refund the 250 baht ATM fee.

5 hours ago, david_je said:

Those of you who have done counter withdrawal at Krungsri with Mastercard, may I ask what branch in Bangkok you did it in, and what exactly do you say to the teller? There are no foreign currency conversion, Mastercard, home bank or local bank fees?

Anyone ever used a Krungthai bank to withdraw money using a UK bank account and debit card over the counter? Can it be done?

9 hours ago, Thomas72 said:

Back when I got the card it was perfect - not only did they refund the full amount of foreign transaction fees, they gave you the spot USD exchange rate. This is not the case anymore. Today Schwab uses the rate set by Visa (or Mastercard, depending on card network) on the date the transaction is processed, which is close to the market rate but includes a markup compared to the real-time interbank spot rate.

So this is why it is sustainable and how Schwab is at least breaking even, if not making money. Still a great service, but it is not "100% free".

I can't speak for back when you got the card as I don't know when that was or what procedures were in play, but nowadays exchange rates are always set by the transaction processor (Visa or Mastercard) so that's why you see one of their rates applied to your transactions. However, that is the processors fee and they pocket it, leaving Schwab with nothing from these transactions.

They must be making enough elsewhere to allow them to treat this as a loss leader, although the poster above who appears to be making ~20 ATM withdrawals per month (4 - 5,000 THB in refunds per month) might accelerate a rethink.

11 hours ago, MadAtMatrix said:

30 bank notes maximum. That’s its, that’s all. That’s what the machines dispense.

Many machines are physically restricted to a limit of 20 notes maximum. There's only a couple of banks I think that have machines designed for 30 notes.

13 hours ago, treetops said:

Many machines are physically restricted to a limit of 20 notes maximum. There's only a couple of banks I think that have machines designed for 30 notes.

So if some are restricted to 20 and some dispense 30, would the MAXIMUM, as I stated be 30?

19 hours ago, treetops said:

but nowadays exchange rates are always set by the transaction processor (Visa or Mastercard) so that's why you see one of their rates applied to your transactions. However, that is the processors fee and they pocket it, leaving Schwab with nothing from these transactions.

I'm not so sure about this.

I walk up to a Thai ATM, they want a fee (B220 - B250). This fee includes network charges across the Visa/Mastercard network. The ATM bank pockets the difference.

The Thai bank gets paid, Visa/Mastercard gets paid.

Schwab refunds the fee to me.

Schwab debits my account using the Visa/Mastercard rate (slightly marked up from spot) - they should keep the difference from spot. Schwab can use any rate they want (some shady credit cards use rates wildly marked up from spot), they just choose to use the Visa/Mastercard published rate. Visa/Mastercard have no interaction with how Schwab converts money between THB and USD.

This Schwab account (Schwab High Yield Investor Checking) has been around since at least 2014, and other banks are starting to follow suit - so I doubt it's a loss leader. I have a similar account from Fidelity (Fidelity Cash Management Account). I know E-Trade and Discover bank offer similar accounts, but I don't have these so I can't comment on them.

So basically Schwab is making money on these transactions the same was Wise does, albeit at a much reduced margin.

On 3/3/2026 at 4:09 AM, Everyman said:

Reading things like that, scares me. The secret is out regarding the Schwab accounts and there must be millions of people with checking accounts with or without sizable investments with Schwab. They must be paying out millions of dollars every month in ATM fee refunds. I don’t see how it’s sustainable.

Therefore, I endeavor to limit my use of this “feature” as much as I can. I don’t want them to change it or take it away. I rely on it extensively when traveling outside Thailand. Within the kingdom, I use my Thai bank account.

It's not only Schwab, my Chase Sapphire Reserve does the same thing……….as well as my Amex Platinum. I have these for the Insurance they offer. My Thai Debit card is for everyday living as well. Peace

bangkok bank used to have 40k limit, i also took out 200k over the counter in some yellow bank i cant remember name of, almost next to friendship supermarket on same side of the road in pattaya

12 minutes ago, mordothailand said:

i also took out 200k over the counter in some yellow bank i cant remember name of

Bank Of Ayudhya (aka Krungsri), maybe?

14 hours ago, MadAtMatrix said:

So if some are restricted to 20 and some dispense 30, would the MAXIMUM, as I stated be 30?

I'm sure you understand why I clarified your post for other readers?

8 hours ago, Thomas72 said:

I'm not so sure about this.

I am.

8 hours ago, Thomas72 said:

I walk up to a Thai ATM, they want a fee (B220 - B250). This fee includes network charges across the Visa/Mastercard network. The ATM bank pockets the difference.

The fee goes solely to the ATM provider.

8 hours ago, Thomas72 said:

Schwab can use any rate they want (some shady credit cards use rates wildly marked up from spot) . . .

8 hours ago, Thomas72 said:

Visa/Mastercard have no interaction with how Schwab converts money between THB and USD.

Schwab don't convert the money and neither do the shady card providers. The payment processor does, as long as you don't let the ATM provider do it (DCC trap). The shady providers (most of them) add foreign currency transactions fees on top.

I don't know all the reasons behind why Schwab (and others) do what they do but interesting that most of them are branchless, so maybe to attract those who might be put off at no opportunity to withdraw easily with no charges.

Nevertheless the charges and rates at ATMs are how I have described them and as such I don't see any mechanism for Schwab to profit from ATM withdrawal transactions.

On 3/3/2026 at 8:46 AM, marcho said:

Yes, there is. Well, BBK has anyway.

Yes. After years I used my ViSA cc at a Bangkok Bank ATM today (15 March 2026).

Requested 25000 Baht.

Selected "without conversion" (hidden in lower right).

Got 25000 in hand.

25250 charged.

Home country bank deducted 690 EUR with a rate of 1 EUR = 36.5576 THB.

Overall 36.23

Not great with today's currency market rate of 37.0x.

Normally I don't use the cc for such purpose. But the latest announcement of changes at WISE makes me nervous.

BTW: the SCB ATM would neither give me 30k nor 25k although the machine is technically capable.