Do Thai Banks Not Want Our Business?

[IanForbes]

I was quite happy with my Siam Commercial bank up until today. As a person who needs cash on a regular basis (most small Thai businessed don't deal in credit cards) I like to take out about 10,000 baht at a time. It saves on going to an ATM machine all the time and it saves on the charges. The more times you visit an ATM the more chance there is of running into the credit card crooks. I get charged $5 every time I use my Canadian ATM card... no matter how much I take out, so the fewer times I have to use it the better.

Today when I tried to take out 10,000 baht at the Siam Commercial bank, the ATM machine says it now has a limit of 2000 baht!!! What's up with that? I can spend 2000 baht in less than an hour if I shop for anything worthwhile. I just paid 2500 baht for a camera battery and memory stick.

I find it irritating that banks seem to set their own rules and you are stuck with their policy. Having a limit of more than 5000 baht was the one thing that kept me happy with Siam Commercial when compared to other banks. Now they are even lower!

Sorry for the vent, but I'm pizzed off!

[fiddlehead]

Try a different ATM. I had a similar thing happen to me a month ago.

I then went to another ATM and got the 10,000 baht i needed.

Did you go inside and talk to the bankers there? They have told me i could take out something like 20,000 baht maxium 2 times a day for a total of 40k. (not sure exactly on those numbers but it was close to that amount)

ps. my bank is Kasikorn

Also, some banks in the USA have no ATM fee. Charles Schwab Bank is one of them (worldwide) Dont' know if you can hook up with them in Canada though.

Bangor Savings BAnk in Maine is another.

[likite]

This happened the other day at an ATM with Bangkok bank. The reason was the machine had run out of 1000 baht notes. Tried the ATM next to it and no problem got 5000 baht.

[IanForbes]

Thanks for the reply, fiddlehead. I DID talk to the manager and he said it was policy. But, who knows how long "policy" lasts. Despite the ATM charges in Canadian banks, at least they are still solvent, unlike so many American banks.

[PoorSucker]

Was this with your Canadian card?

Your Canadian bank might have flagged your card as suspicious.

Call your bank and asked them to unflag your card.

Happens all the time when cards are used abroad.

Edited March 4, 2009 by PoorSucker

[BigSnake]

A little of Both. Some bank branches(a KTB branch in my area, to name one) will only put 100 Baht Notes in there ATM, now go and withdraw BT20,000, have FUN counting

[neverdie]

It seems odd to me why you don't actually have an account here in Thailand. Imagine how much money you are wasting in fees by doing it 10,000 baht at a time. If you just transferred money every 3 or 6 months, then you could visit the atm with your local account as many times as you wanted without fees & you wouldnt have to risk walking around with a wallet full of baht for days at a time either.

Perhaps its a visa thing?

[WinnieTheKhwai]

I was quite happy with my Siam Commercial bank up until today. As a person who needs cash on a regular basis (most small Thai businessed don't deal in credit cards) I like to take out about 10,000 baht at a time. It saves on going to an ATM machine all the time and it saves on the charges. The more times you visit an ATM the more chance there is of running into the credit card crooks. I get charged $5 every time I use my Canadian ATM card... no matter how much I take out, so the fewer times I have to use it the better.

Today when I tried to take out 10,000 baht at the Siam Commercial bank, the ATM machine says it now has a limit of 2000 baht!!! What's up with that? I can spend 2000 baht in less than an hour if I shop for anything worthwhile. I just paid 2500 baht for a camera battery and memory stick.

I find it irritating that banks seem to set their own rules and you are stuck with their policy. Having a limit of more than 5000 baht was the one thing that kept me happy with Siam Commercial when compared to other banks. Now they are even lower!

Sorry for the vent, but I'm pizzed off!

Another typical case of FIT (Farangs in Thailand)...

- The withdrawal fee is set by your own bank's policy. You're barking up the wrong tree.

- When ATMs run low, not all bills may be available or the maximum may be reduced. Chiang Mai is not short on ATMs last time I checked.

Next!

[venturalaw]

I was quite happy with my Siam Commercial bank up until today. As a person who needs cash on a regular basis (most small Thai businessed don't deal in credit cards) I like to take out about 10,000 baht at a time. It saves on going to an ATM machine all the time and it saves on the charges. The more times you visit an ATM the more chance there is of running into the credit card crooks. I get charged $5 every time I use my Canadian ATM card... no matter how much I take out, so the fewer times I have to use it the better.

Today when I tried to take out 10,000 baht at the Siam Commercial bank, the ATM machine says it now has a limit of 2000 baht!!! What's up with that? I can spend 2000 baht in less than an hour if I shop for anything worthwhile. I just paid 2500 baht for a camera battery and memory stick.

I find it irritating that banks seem to set their own rules and you are stuck with their policy. Having a limit of more than 5000 baht was the one thing that kept me happy with Siam Commercial when compared to other banks. Now they are even lower!

Sorry for the vent, but I'm pizzed off!

Same thing happened to me today for the 1st time - 100 baht bills only for a maximum of 2,000 baht. I went to the ATM machine next to it (different bank) and no problem. I figured that the ATM machine was out of 1,000 baht bills.

[venturalaw]

I was quite happy with my Siam Commercial bank up until today. As a person who needs cash on a regular basis (most small Thai businessed don't deal in credit cards) I like to take out about 10,000 baht at a time. It saves on going to an ATM machine all the time and it saves on the charges. The more times you visit an ATM the more chance there is of running into the credit card crooks. I get charged $5 every time I use my Canadian ATM card... no matter how much I take out, so the fewer times I have to use it the better.

Today when I tried to take out 10,000 baht at the Siam Commercial bank, the ATM machine says it now has a limit of 2000 baht!!! What's up with that? I can spend 2000 baht in less than an hour if I shop for anything worthwhile. I just paid 2500 baht for a camera battery and memory stick.

I find it irritating that banks seem to set their own rules and you are stuck with their policy. Having a limit of more than 5000 baht was the one thing that kept me happy with Siam Commercial when compared to other banks. Now they are even lower!

Sorry for the vent, but I'm pizzed off!

Another typical case of FIT (Farangs in Thailand)...

- The withdrawal fee is set by your own bank's policy. You're barking up the wrong tree.

- When ATMs run low, not all bills may be available or the maximum may be reduced. Chiang Mai is not short on ATMs last time I checked.

Next!

Actually you are assessed a fee at both ends (so to speak) - from your bank at home, and for using the ATM in Thailand by that particular Thai bank.

[venturalaw]

It seems odd to me why you don't actually have an account here in Thailand. Imagine how much money you are wasting in fees by doing it 10,000 baht at a time. If you just transferred money every 3 or 6 months, then you could visit the atm with your local account as many times as you wanted without fees & you wouldnt have to risk walking around with a wallet full of baht for days at a time either.

Perhaps its a visa thing?

Wire transferring funds costs far more ($40 - $50) than the ATM fee (leastwise when transferring from a bank in the US). If there is a cheaper way, I'm open to hearing about it. Also, the maximum that I have been able to withdraw via a US issued debit card is 10,000 baht, which equates to approximately $280 US. My US bank allows up to $500 per withdrawal per day - so I don't understand why I am unable to withdraw more (I tried 15,000 baht and have been denied each time, but if I withdraw 10,000 followed by another transaction for 5,000, no problem - however then I am charged a withdrawal fee twice).

[piercefilmlid]

I have a UK bank account specifically for transferring funds to Thailand. They do not charge for overseas ATM withdrawals and the exchange rate is fair.

SCB ATMs make their own charge for withdrawals (B 20). I avoid using them and use a bank like UoB that does not levy this charge.

[elektrified]

Likewise, my bank in Europe does not charge anything to transfer any amount of the currency of my choice into my account in Thailand. USA banks way over-charge with their $40-50 USD fees for a wire transfer.

Kasikorn Bank does not charge a fee to use one of its own ATM's.

Edited March 4, 2009 by elektrified

[jingjoke]

I avoid using my Canadian Visa card at ATMs overseas and in Thailand: the fees at both ends are relatively high, and the exchange rates are less than the TT rate one gets using your own bank. These TT rates are as good as it gets and are always higher than cash or whatever. My bank like the chap in Bangor is a credit union which charges $20 per transfer which is credited to my KKorn account almost immediately. I gave up on Bkk Bank as funds were not credited to my account for up to 2 weeks, and often only when I made an inquiry.

As an aside: Fiddlehead, great tag BTW: Assuming you are from Bangor, do you travel back and forth there regularly? If so what airline(s) do you recommend. I am visiting NB just across the border in July for a wedding. Cheers

[earlofwindermere]

I had the same problem. Any chance it was the Siam Commercial Bank at Meechok Plaza on Mae Jo Road?

Like others, I simply walked over the ATMs at Rimping and withdrew as much money as I liked.

[tom21]

Likewise, my bank in Europe does not charge anything to transfer any amount of the currency of my choice into my account in Thailand. USA banks way over-charge with their $40-50 USD fees for a wire transfer.

Kasikorn Bank does not charge a fee to use one of its own ATM's.

Kasikorn Bank does charge a fee (10thb) if you use a Kasikorn Bank ATM that is not where your account is. i am in Khon Kaen at the moment and i get charged a fee at Kasikorn Bank ATM's i was also charged a fee from them for using my passbook. i can not complain as i was told this when i opened my account with them.

[el jefe]

Charles Schwab's bank (PNC Bank) does not charge a fee and refunds any fees charged by using a non-PNC bank.

Most ATM's in Thailand will only dispense 20 notes at a time. I have had no problem using my Schwab ATM card to w/d 20,000 baht at almost any bank in Thailand.

The only place I've ever had a problem withdrawing as much as I wanted was in the airports, both here and at BKK.

I also have an account at Bangkok Bank and have no problem withdrawing as much as needed from their ATM's, which are all over the country.

[venturalaw]

I had the same problem. Any chance it was the Siam Commercial Bank at Meechok Plaza on Mae Jo Road?

Like others, I simply walked over the ATMs at Rimping and withdrew as much money as I liked.

It was off Maejo Rd just past Ring RD 2.

[venturalaw]

I have a UK bank account specifically for transferring funds to Thailand. They do not charge for overseas ATM withdrawals and the exchange rate is fair.

SCB ATMs make their own charge for withdrawals (B 20). I avoid using them and use a bank like UoB that does not levy this charge.

Thanks for the tip. I'll avoid using SCB ATMs.

Edited March 4, 2009 by venturalaw

[elektrified]

Likewise, my bank in Europe does not charge anything to transfer any amount of the currency of my choice into my account in Thailand. USA banks way over-charge with their $40-50 USD fees for a wire transfer.

Kasikorn Bank does not charge a fee to use one of its own ATM's.

Kasikorn Bank does charge a fee (10thb) if you use a Kasikorn Bank ATM that is not where your account is. i am in Khon Kaen at the moment and i get charged a fee at Kasikorn Bank ATM's i was also charged a fee from them for using my passbook. i can not complain as i was told this when i opened my account with them.

I was in Hat Yai and Songkhla for 10 days recently, and used my Kasikorn Bank ATM card often. My accounts are in Bangkok and Chiang Mai. I was never charged a 10 Baht fee. I have also used my card in other parts of Thailand and have never been charged a fee.

[IanForbes]

Thanks for all the replies. I'll take your advice and hope for the best.

Maybe it was just a one day thing; I hope so. But, the bank WAS open at the time and there SHOULD have been enough 1000 baht notes in the machine. The Thai banks don't like you withdrawing funds from the teller. They WANT you to use the ATM card... and the 20 baht fee.

I DO have an account at the Siam Commercial bank, but I only keep 30,000 baht in there for emergencies. I've heard a bunch of horror stories about Thai banks withdrawing your funds unauthorized and there's not much you can do about it. I don't mind the $5 fee by my Canadian bank on $360, but I don't want it charged on only $73.

And, we DO get ripped off by the Canadian banks for wire transfers. It costs $35 per transaction. I usually bring over about $3000 Canadian cash and stick most of it in my Siam Commercial bank. Then I use my ATM card to keep enough money for my weekly purposes. I don't withdraw funds through VISA. I only use my personal banks ATM card.

[tom21]

Likewise, my bank in Europe does not charge anything to transfer any amount of the currency of my choice into my account in Thailand. USA banks way over-charge with their $40-50 USD fees for a wire transfer.

Kasikorn Bank does not charge a fee to use one of its own ATM's.

Kasikorn Bank does charge a fee (10thb) if you use a Kasikorn Bank ATM that is not where your account is. i am in Khon Kaen at the moment and i get charged a fee at Kasikorn Bank ATM's i was also charged a fee from them for using my passbook. i can not complain as i was told this when i opened my account with them.

I was in Hat Yai and Songkhla for 10 days recently, and used my Kasikorn Bank ATM card often. My accounts are in Bangkok and Chiang Mai. I was never charged a 10 Baht fee. I have also used my card in other parts of Thailand and have never been charged a fee.

i think i go tomorrow and ask

[daxbr]

There are still plenty of US banks and credit unions that not only do not charge atm fees but also refund Thai banks' fees.

[basjke]

Likewise, my bank in Europe does not charge anything to transfer any amount of the currency of my choice into my account in Thailand. USA banks way over-charge with their $40-50 USD fees for a wire transfer.

Kasikorn Bank does not charge a fee to use one of its own ATM's.

Kasikorn Bank does charge a fee (10thb) if you use a Kasikorn Bank ATM that is not where your account is. i am in Khon Kaen at the moment and i get charged a fee at Kasikorn Bank ATM's i was also charged a fee from them for using my passbook. i can not complain as i was told this when i opened my account with them.

I was in Hat Yai and Songkhla for 10 days recently, and used my Kasikorn Bank ATM card often. My accounts are in Bangkok and Chiang Mai. I was never charged a 10 Baht fee. I have also used my card in other parts of Thailand and have never been charged a fee.

Think you have to look on your receipt again as they for sure charge a fee if you withdraw from an atm out of the district where your account is and as far as I know it is even 20 baht instead of 10.If you withdraw in an agency out of your district the fee charge is depending on the amount you withdraw.

[venturalaw]

There are still plenty of US banks and credit unions that not only do not charge atm fees but also refund Thai banks' fees.

If it is not too much trouble, perhaps you could list some of the US banks that you know do not charge a fee for ATM transactions. I would appreciate it.

[gonzobrains]

Today when I tried to take out 10,000 baht at the Siam Commercial bank, the ATM machine says it now has a limit of 2000 baht!!! What's up with that? I

ATM stands for "Automated Teller Machine". Therefore, saying "ATM machine" is redundant. bahaha.

Jeff

Manager, Department of Redundancy Department

[lockman]

Have tried 3 different SCB ATM's at various cities, all had 2000B limit on foreign card. No problem away from SCB, so I just don't attempt their ATM's anymore.

[elektrified]

There are still plenty of US banks and credit unions that not only do not charge atm fees but also refund Thai banks' fees.

If it is not too much trouble, perhaps you could list some of the US banks that you know do not charge a fee for ATM transactions. I would appreciate it.

I'm reasonably certain that Charles Schwab is one.

[mild7even]

I usually use my US-based ATM card at Bangkok Bank, because SCB charges me 20 baht per transaction. But the other day I tried and got the same problem as the OP--a limit of 2500 baht. So swallowed my pride and went to the SCB machine right next to it and withdrew 20,000 baht. I was also confused as to the change, as it never happened before.

As for banks that don't charge an ATM fee: USAA (though you have to be military or retired military) doesn't charge; and my HSBC, internet-only savings account as well. Both these banks also refund the charges levied by the other bank's ATM, though HSBC recently told me it would not refund a charge from a bank in Kuwait because it is overseas.

[mnbcm]

It saves on going to an ATM machine all the time and it saves on the charges. The more times you visit an ATM the more chance there is of running into the credit card crooks. I get charged $5 every time I use my Canadian ATM card.

5 is quite a rip off! My free bank account eats all the foreign transaction fees for me. Have you considered switching banks? My bank is in America though; not sure if Canadian banks offer to waive fees. While on this topic, if you have a credit card, you might also consider checking what foreign fees your card is hitting you with. I save a lot on foreign fees by using a Capital One card. They take care of any foreign fees you might get. It might be worth your time to check. It may not seem like much but it adds up; especially on large transactions. There are other alternatives out there. http://www.creditcards.com/credit-card-new...n-fees-1276.php