Atm Charges In Los

[markf061]

Hi, I have just got off the phone with my bank A.I.B, when i asked them how much i will be charged for every withdrawl i make while in LOS they told me about 1%, i was just wondering is this the same as most banks charge? Also the lady said their may be additional charges from the thai ATM i use, has anybody else experienced these charges? If so how much wore they?

Oh and lastly in your own opinion, Is it better to use Your ATM card or get some travellers cheques, for a stay of about 2-3 months in Thailand?

Cheers in advance

[Buzby]

If you are from the UK, get a Nationwide bank account. No charges on ATM withdrawals abroad

[bravingbangkok]

HSBC Premier is another option, free withdrawals and instant premier HSBC Thai account and credit cards with no work permit !

[markf061]

Im actually from Ireland, anyone got any similar suggestions?

[longball53098]

Suggest a second method to get funds in case you have difficulties with the primary card you use.

[TJAN]

Im actually from Ireland, anyone got any similar suggestions?

I am from Holland and use my dutch ABN card to pin,I can pin maximum 20.000 bath per day and my bank charged me Euro 2,25 every time I pin,if I am stupid enough to pin 1000 bath it also cost me euro 2,25.

[markf061]

Im actually from Ireland, anyone got any similar suggestions?

I am from Holland and use my dutch ABN card to pin,I can pin maximum 20.000 bath per day and my bank charged me Euro 2,25 every time I pin,if I am stupid enough to pin 1000 bath it also cost me euro 2,25.

So you get no additional charges from the thai atm machine then?

[eefoo]

Siam Commercial Bank automatically add 20 baht onto anything you withdraw from their ATMs. The amount is negligible - but the principle is not.

[Buzby]

Check this link for the charges that Irish Banks charge you for using ATMs and Travellers Cheques.

http://archives.tcm.ie/businesspost/2005/05/22/story4921.asp

[markdevas]

hi

Siam Commercial Bank automatically add 20 baht onto anything you withdraw from their ATMs.

[longball53098]

SCB adds the 20 baht service fee on to any withdrawal done using a foreign ATM card or a SCB card out of the region.

If you have an SCB ATM card and you are in your "home" region it's free

[Slogger]

If you are from the UK, get a Nationwide bank account. No charges on ATM withdrawals abroad

I fully agree - they are also mutual so not open to such financial meltdown risks as normal banks. No charges by them for withdrawals overseas or by ATMs in Thailand (unlike USA), except maybe Siam Commercial bank which i think charges 20 baht with Nationwide card but can't quite remember if I was using Nationwide or some other card at the time.

[jfchandler]

ATM card would generally be a better approach than traveler's checks (which are assessed fees every time you exchange them)...provided you do it smart....

The best you can do is pay no fee from your home bank, pay no fee from the Thai bank where you withdraw, and get the full exchange rate on the transaction. That's a hard combo to find, but it can be done.

More common is to get no transaction fee from your home bank or the Thai bank, but to get a 1% fee taken out by VISA or MC via a lower exchange rate, if the card you're using uses either of those networks and has their VISA or MC logo. This typically doesn't show up as a separate fee, but instead is just extracted via the slightly lower exchange rate you get.

What's bad, however, is if your home bank is charging you a per ATM withdrawal fee when you use someone else's ATM, particularly if it's out of the country. You really want to avoid that situation.

Thai banks generally don't charge per use transaction fees for foreign ATM cards. But as noted above, Siam Commercial (SCB) earlier this year started charging a 20 baht fee per ATM transaction. As a result, I think many farang here in Thailand no longer use their ATMs, since so many other choices are available.

[Kaoboi Bebobp]

I opened a Kasikorn Bank (KBank) account in early October. I have monthly wire transfers done, which had to be pre-set up back home in Canada. That required a couple of hoops to jump because of recent anti-money laundering laws and privacy legislation. I honestly forget what the fee was for my first transfer, just this past week. But ATM withdrawals back to my Cdn bank (credit union, actually) cost: 100 baht to KBank and $2 Cdn to my bank. So $5 each withdrawal. Hence the setup for wire transfers, which take maximum two days to be credited to my Thai account. So far. KBank has free ATM withdrawals and, if drawn from non-KBank ATM, first three are free/month. After that, 5 baht per.

Edited: Removed another point since OP made home charges clear.

Edited October 26, 2008 by Kaoboi Bebobp

[phaethon]

ATM card would generally be a better approach than traveler's checks (which are assessed fees every time you exchange them)...provided you do it smart....

I agree the debit ('ATM') card is the most convenient option, however make sure you have some backup in case you lose it. I left mine in an ATM, but had a number of credit cards to fall back on. Of course I had to swallow the extra charges and interest but that was small in comparison to my overall expenditure

Also ensure that you have informed your debit and credit card providers you are travelling to Thailand otherwise you will arrive and find they won't work at all until you've made an expensive overseas call to get them cleared.

[jfchandler]

I think Phaethon's comments above are good and apt advice....

I live here... But if I was still traveling, I'd always take on the trip multiple cards, and only carry one or two in my wallet at any time, and leave the other couple in a hotel safe box as backup, just in case needed in event of a lost wallet, etc...

Re notifying your card companies of your travel and destination, I've certainly had that experience with credit cards, where after the first foreign use, suddenly I've found the card locked... Because the card company was used to seeing all my charges in USA, and suddenly there's charges from Thailand.

Sometimes you get away with it depending on the card company, even if you don't notify them. But sometimes, if you don't you'll find yourself in the midst of a headache. One time, while living here, I had gone shopping to buy a new computer, found one on sale that I really wanted, and it was the last available in the store. Went to the counter to pay with my U.S. credit card, and bingo, charge won't go thru... Clerk tried three times and finally go the message, contact your bank. Sure enough, earlier in the day, I'd used the card for the first time in a long time and that went fine. But when I tried the same card for a second purchase that day...frozen. Had to run back home, grab another card and rush back to the store... Got the right PC in the end, lucky for me.

But, as to debit cards, I've never had any freezing experience with any of those, unlike credit cards. And I've never had any of my banks associated with those debit cards ask to be notified when I'm going to be traveling. So I don't think the "foreign freeze" operates the same way when it comes to debit/ATM cards.