Odd Atm Transaction Fee

[ray23]

Using my American ATM card for to day now I have noticed a fee of $13.89 per transaction which seems to be payable to Bank of Bangkok.

I have been here six years using the same Debit card and have never seen this before.

Anyone else notice this?

Is Bank of Bangkok now going to add a transaction fee beyond the money they take on the rate of exchange?

[Chang_paarp]

If you go to the exchange window they charge a fee for that service on top of the cop they make for the exchange, after noticing the same thing I do not use Bangkok Bank for withdrawals. If possible use the ATM with all the risks that go there.

[farangene]

Using my American ATM card for to day now I have noticed a fee of $13.89 per transaction which seems to be payable to Bank of Bangkok.....

Is Bank of Bangkok now going to add a transaction fee beyond the money they take on the rate of exchange?

My better half told me about a week ago that she watched a television story on Thai news that said Thai banks were going to impose a service charge for using their ATMs in Thailand. I have looked for stories on it and have not found any mention of charges in the English newspapers.

I surely hope not but maybe you are seeing the first charges being assessed by Thai banks?

What % of the withdrawal amount is the $13.89? At those rates, periodic wire transfers into an acct would make sense.

I have used the exchange window to make large debit card withdrawals in the past and have never been charged any extra fees.

Edited June 1, 2008 by farangene

[johnnyk]

Thai banks are now assessing small service charges (10-20 baht) for some ATM transactions (same bank funds transfer) and 30 baht if you w/d baht from another bank.

Most banks everywhere levy a charge for using a foreign ATM card but the charge can vary from a dollar or two to $13.89. My French bank charges about $10 if I w/d cash outside France.

[Heng]

Which bank, Ray? (feel free to PM if you don't want to announce it here). Haven't noticed any strange fees myself and I use: Bank of America, Wells Fargo, Chase, Wachovia, and Wash Mututal, HSBC Sing, among others.

[taxexile]

Wash Mututal

laundry or bank ? .. or both.

[Heng]

^

You're funny, Tax.

[Farma]

For comparison, these are the standard fees I’m charged on a non US card 20,000 baht cash withdrawal. These fees have been in place for the past few years and there hasn't been any new charges to my account. The last transaction was made yesterday.

VISA Card cash withdrawal.

Overseas terminal cash advance fee (approx $7 - $8, a percentage of the home country rate on the day)

+

International transaction fee (approx $13 - $18, a percentage of the home country rate on the day)

Or

Normal bank card cash withdrawal

Non xxx(name of bank) ATM withdrawal fee (approx $13 - $18, a percentage of the home country rate on the day)

[ray23]

It was at the Bank of Bangkok, I will try SCB today and see what happens. 30 baht wouldn't get my attention but 440 baht does, since I do about seven of these transaction each month wire transfers may be the answer.

By the way they still take the percentage of funds as they did before. So this is in addition to that fee.

From what I can see at the moment the fees are not assesed on the American Bank side.

The news story may in fact be very accurate.

[Macx]

SCB just charged me similar fee on an ING ATM card. Called ING and they said they have just imposed a new rule of adding 2% foreign transaction fee.

[sweetchariot]

Barclays in the UK were charging me £6-50 on every 20k I withdrew for over a year. Not one to check my statements (I trust banks, I used to work for them), it took me a while to cotton on. When I did I transferred a lump to a Thai bank which costs 0 baht, but apparently they have recently introduced a 20 baht fee if I use another bank's ATM.

[Groongthep]

Using my American ATM card for to day now I have noticed a fee of $13.89 per transaction which seems to be payable to Bank of Bangkok.

I have been here six years using the same Debit card and have never seen this before.

Anyone else notice this?

Is Bank of Bangkok now going to add a transaction fee beyond the money they take on the rate of exchange?

By Bank of Bangkok do you mean Bangkok Bank or are you seaking about another institution?

[ray23]

Using my American ATM card for to day now I have noticed a fee of $13.89 per transaction which seems to be payable to Bank of Bangkok.

I have been here six years using the same Debit card and have never seen this before.

Anyone else notice this?

Is Bank of Bangkok now going to add a transaction fee beyond the money they take on the rate of exchange?

By Bank of Bangkok do you mean Bangkok Bank or are you seaking about another institution?

Sorry Yes I mean Bangkok Bank I used SCB today and got the same fee.

I put an inquiry into my bank in the states, but based on what I am seeing here, I think I already know the answer. I think I need to now look at doing a monthly wire transfer and determine which one is less expensive.

Imagine an addtional 2% fee for each foreign transaction for all the farrangs who live and visit here. Nice business not chump change. Guess the tourist industry is doing better then I thought.

[Ray1167]

It could be that banks in US / Europe are now posting all the transaction fees separately . For example , i recently queried the rate used in an ATM tranaction once it had found its way back to HSBC in the UK . Their reply ( below ) indicates that they used to disguise a 2.75 % fee in the conversion rate. Now I am guessing they don't , but show the fee serarately instead. The handling fee is an additional 1.5 % . HSBC group's 2007 annual profits were very healthy...

We will convert the money you spend or withdraw into sterling on the day we receive the transaction. Foreign currency exchange rates used are inclusive of an exchange rate adjustment, currently 2.75% to cover handling costs.

[ray23]

That could in fact be it, One of the guys here who speaks Thai fluently inquired at his bank with the Manager. The manager told him the fees were being from the states. I will call my bank tonight for an explanation. Don't see anything that can be done about it no matter where the fees are coming from. But, I would like to understand it.

I want to thank you guys for your input.

[Heng]

No fee this evening from Compass Bank or Chase Bank for either 10,000 Baht withdrawal, Ray. Might show up later? Are the additional fees showing up right away posted as an additional debit next to the first debit?

[ray23]

Doesn't show up in the ATM slip at all. Show on my account as a second Debit after each transaction. I'm going to call the bank in the states tonight and try to get an explanantion.

[dave111223]

Just took money using my Paypal Debit card from an SCB AMT... checked my account online and there are no additional fees.

Could be your bank is having you on.

[ray23]

Here is the story my bank in the states changed thier

product line, in that porcess they took me out the

free ATM account and put me in another. So I was

charged a 3% international transaction fee.

After the call they put me back into the proper

account so there will be no ATM charges world wide. I

probably won't see a return of my money, but I'm back

on track.

I want to think everyone for thie assistance and

apologize for any confusion.

Ray

So a bank error but unlike monoply not in my favor