stevevigo Posted April 24, 2009 Share Posted April 24, 2009 Have not read all the posts on this subject. As an example if i needed 1000 pounds sterling a month, 50,000 bht. From ATM 50,000 bht exchange rate fee 2.75% =1375 bht 4 withdrawals 150 x 4 = 600 bht fee uk bank 4 x 75 bht = 300 bht Total =2275 bht From debit visa in bank 50,000 bht exchange rate fee 2.75% =1375 bht fee uk bank = 75 bht Total =1450 bht International TT from online UK bank Fee uk bank = 475 bht Fee Thai bank = 500 bht Total = 975 bht The TT wins hands down and if transfered for 2 months or more same fee of 975 bht Link to comment Share on other sites More sharing options...
Texpat Posted April 24, 2009 Share Posted April 24, 2009 I'm charged ~140 baht every month by Krung Thai bank for wiring in a DEPOSIT. That's far more maddening than being hit for a withdrawl. Link to comment Share on other sites More sharing options...
Mali1964 Posted April 24, 2009 Share Posted April 24, 2009 When all the banks start to pass on this 150 baht charge for the use of the ATM, We just go into the bank with your passport and card and get your cash that way as there is no ATM charge for this at the moment. I can go into a bank and get my cash with my card and my passport??? I have a cash card (type maestro)! Is this a Nationwide UK cash card?? if so no one as confirmed it works in branch yet, i'm not sure if your saying you have tried it or that you want to know if it will work?? Can i ask you try this in Any bank but Bangkok & Siam commercial have good withdrawal limits per day if its large amounts your after, Kasikorn for instance only allow 20,000 Baht max. Link to comment Share on other sites More sharing options...
Langsuan Man Posted April 24, 2009 Share Posted April 24, 2009 (edited) i have taken out 100k no problem Yes, but your bank reported it to the IRS as part of the Patriot Act and since you probably had that much legitimately, no flags were raised Banks must report transactions of $10,000 or more. That is why the 10K figure is mentioned all the time Edited April 24, 2009 by Langsuan Man Link to comment Share on other sites More sharing options...
jfchandler Posted April 25, 2009 Share Posted April 25, 2009 So, assuming the max dispensed by a BB ATM of 25000, if my free E*Trade ATM card still cost me 150bt per transaction, this would be a cost of .6% (150/25000). But my sending $8000 via ACH/EFT only cost .3% -- and (because the fees are fixed), I would only pay .2% to send $12,000.Now, if E*Trade -- and other no-fee ATM cards -- begin to reimburse the 150bt, yeah, they're the best deal. Until then, ACH/EFT wins (with the exception of taking your E*Trade ATM to Kasikorn, at least so far). Jim, I agree with your point for LARGE amount transfers. Your example above is of sending $8,000 U.S. in a single ACH transaction, which is equal to about 280,000 baht. I think, most people aren't moving that kind of money once a month or a couple times per month for living expenses. My point is, when the transaction amount involved goes down and/or you start talking about multiple transactions, ATMs become more attractive, especially if you have a no fees option available. Also, to be clear, there are numerous U.S. bank accounts/cards (not just E-Trade) that reimburse ATM operator fees, even those charged in foreign countries. I posted mention and links to some of them earlier in this thread. Right now, I believe, everyone here in LOS still has the option of doing ATM fee-free withdrawals thru Kasikorn Bank, Bank of Ayudhya and some others.... (What's the latest list on fee-free banks, folks?) But even if those banks eventually start charging the 150 baht fee on the Thailand end, there are U.S. banks/accounts that will still reimburse those 100%, such as the Charles Schwab high yield savings and checking accounts, among others. Schwab also supposedly does not pass along the 1% foreign exchange fee. As for E-Trade and their ATM card, I don't know. Langsuan Man reported above using their ATM card and getting no ATM fee and no 1% charge. But E-Trade's stated policy is NOT to reimburse international ATM charges, and another poster above contacted E-Trade customer service by email and was told they wouldn't reimburse the 150 baht ATM fee as charged by some banks here. So I can't reconcile those disparate accounts. Well, my USAA limit for ACH is initially set up for a $5000/day max. A simple phone call raised this to $30,000 -- and subsequent ACHs to my other US bank, for amounts around $15000, were flawless. Can't imagine why this wouldn't work for Bangkok Bank. The question I raised there was not really about ACH transfer limits set by individual U.S. banks. It was more about the supposed $10,000 amount threshold that triggers some kind of U.S. government review, and in the past, often led to people's online links for the U.S. bank-Bangkok Bank ACH transfers to be frozen or deleted, particularly for Bank of America customers. I was trying to see if anyone has tried that approach lately sending an amount over $10,000, and did it go smoothly or did they encounter any problems? But I haven't seen anyone mention lately that they've used the ACH method to send more than $10,000 here via BKK Bank. Link to comment Share on other sites More sharing options...
Chaimai Posted April 25, 2009 Share Posted April 25, 2009 I'm charged ~140 baht every month by Krung Thai bank for wiring in a DEPOSIT.That's far more maddening than being hit for a withdrawl. No - you are wiring in a transaction and KTB have to 'handle' it for you. Not unreasonable to apply a 'clean payment' charge if you are remitting Baht - if remitting in your home currency then the charge should be higher unless the bank hides the costs in the exchange rate. No need the emphasise the word DEPOSIT - the transaction costs can often be higher for a deposit than a withdrawal, particularly if you withdraw via ATM. Link to comment Share on other sites More sharing options...
ExoticMatter Posted April 25, 2009 Share Posted April 25, 2009 So if you go to the foreign exchange booth with your card and passport and withdraw money this way would it be a way around this extra charge.This more then cancels out the small rise in the GBP of late. Hey...thats an option that i thought wasnt availible anymore, what with all this "chip & pin" usage Might be a way to relax and not worry about card cloning so much Penkoprod What chip and pin? I went in the bank other day draw out a load of money on a cash card and they just got me to sign something. It was the cloneing that caused me to go inside in the first place:( Link to comment Share on other sites More sharing options...
ExoticMatter Posted April 25, 2009 Share Posted April 25, 2009 When all the banks start to pass on this 150 baht charge for the use of the ATM, We just go into the bank with your passport and card and get your cash that way as there is no ATM charge for this at the moment. I can go into a bank and get my cash with my card and my passport??? I have a cash card (type maestro)! Is this a Nationwide UK cash card?? if so no one as confirmed it works in branch yet, i'm not sure if your saying you have tried it or that you want to know if it will work?? Can i ask you try this in Any bank but Bangkok & Siam commercial have good withdrawal limits per day if its large amounts your after, Kasikorn for instance only allow 20,000 Baht max. Asked for 15K baht one time(with Visa) on Ko Toa and they misheard and gave me 50K, the transaction had already been done, none reverseable.Forget which branch, one of them micro ones in the town. upgraded to A/C Link to comment Share on other sites More sharing options...
SurfRider Posted April 25, 2009 Share Posted April 25, 2009 Apparently the Kasikorn party continues . . . As of 12:30pm, Thai Time, on Saturday April 25, I was able to use a VISA debit card to withdraw funds from a Kasikorn ATM in Jomtien without any charges showing up in my on-line E-Trade account. Transaction limit was 20,000 Baht, but I was able to get a total of 30,000 in two transactions. Exchange rate was 35.38 Link to comment Share on other sites More sharing options...
khunjake Posted April 25, 2009 Share Posted April 25, 2009 (edited) Does anyone here know what rate one will get when doing the "over-the-counter cash advance" from a foreign bank ATM Check Card? As far as I can see, SCB or other banks will do this transaction at the "exchange counter" for up to 200k THB however, do they give you their THB Selling Bank Note rate or the actual cash spot rate? If I continue using ATM withdrawals (at K-Bank), I know for a fact that I am still getting the current USD/THB spot rate (which was 35.34 today) which is still better then the exchange counter rate (which is 34.89 at SCB today). THIA... Edited April 25, 2009 by khunjake Link to comment Share on other sites More sharing options...
onethailand Posted April 25, 2009 Share Posted April 25, 2009 Bangkok Bank ATMs now charging the 150 baht fee. I went to the Kasikorn machine next to it, and no fee. Link to comment Share on other sites More sharing options...
apteraplayer Posted April 25, 2009 Share Posted April 25, 2009 I confirm for Kasikorn Bank, no fee today 25/4/09 in Yasothon ATM. Link to comment Share on other sites More sharing options...
BIGTOE3 Posted April 25, 2009 Share Posted April 25, 2009 I confirm for Kasikorn Bank,no fee today 25/4/09 in Yasothon ATM. I agree as I made withdralls at the Victory Monument Branch. I also opened an account with them as Siam has been charging fees of 20bt for a few months now. My quesion is does anyone know the max you ca transfer from UK using swift wiout out causing any waves ? ( like the 10k usd mentioned before in this thread.) Thanks in advance. BT Link to comment Share on other sites More sharing options...
BWPattaya Posted April 25, 2009 Share Posted April 25, 2009 So are there any major Thai Banks which are not members of Thai Bankers' Association? That, I do not know, but here's a list of the banks that are members : Bangkok Bank Krung Thai Bank Bank Of Ayudhya Kasikorn Bank Thai Military Bank Siam Commercial Bank Standard Chartered Bank Siam City Bank BankThai UOB Bank Thanachart Bank Tisco Bank Land And Houses Retail Bank ACL Bank Kaitnakin Bank Thai Credit Retail Bank I used a Kasikorn ATM last night with my Coop ATM card. No extra fee. Used again today, no extra fee. Link to comment Share on other sites More sharing options...
thaimate Posted April 25, 2009 Share Posted April 25, 2009 just used my nationwide card in naglua,3 pm no charge. Link to comment Share on other sites More sharing options...
Langsuan Man Posted April 25, 2009 Share Posted April 25, 2009 My quesion is does anyone know the max you ca transfer from UK using swift wiout out causing any waves ? ( like the 10k usd mentioned before in this thread.)Thanks in advance. BT Big Toe the 10K mentioned in this thread is for US Banks only. I am sure that the UK government has something similar but I don't know about it. Link to comment Share on other sites More sharing options...
loong Posted April 25, 2009 Share Posted April 25, 2009 My quesion is does anyone know the max you ca transfer from UK using swift wiout out causing any waves ? ( like the 10k usd mentioned before in this thread.)Thanks in advance. BT Big Toe the 10K mentioned in this thread is for US Banks only. I am sure that the UK government has something similar but I don't know about it. I am not sure, but I think that it's 10,000 pounds. If it's from bank account to bank account, it shouldn't cause too many waves. the authorities in the UK are more interested in cash deposits to a bank account. Unless it's changed in the last few years, all cash deposits, exceeding 1000 pounds, to a UK bank account have to be reported. Also cash transactions exceeding 1000 pounds. If you buy a car from a dealer and pay more than 1000 pounds cash, that should be reported. Link to comment Share on other sites More sharing options...
username36 Posted April 25, 2009 Share Posted April 25, 2009 Re: Thai Banks to start charging for ATM withdrawals ... Today in the evening on Koh Phangan at 19:08 I took off two times 20,000 THB without a fee at the ATM of Bank of Ayudhya. I have a VISA-Card from the German bank Deutsche Kreditbank AG (DKB). They guarantee their customers to take of money for free worldwide. But two days ago I got charged each with 150 THB at the ATM of the Krung Thai Bank and the Siam City Bank. After I read this topic I went to Bank of Ayudhya only and I'm happy that I still not pay any fee there. I hope it stays like that. I send a note to the DKB to clear if they will give me back that fee money and waiting for the answer in the moment. Link to comment Share on other sites More sharing options...
JimGant Posted April 25, 2009 Share Posted April 25, 2009 Jim, I agree with your point for LARGE amount transfers. Your example above is of sending $8,000 U.S. in a single ACH transaction, which is equal to about 280,000 baht. I think, most people aren't moving that kind of money once a month or a couple times per month for living expenses. First off, yes, if you have an ATM card that charges no fees, aborbs the Visa/MC foreign transaction fee, and reimburses you for ATM owner fees -- that should be your first choice. But if that does not apply -- ACH transfers to Bangkok Bank, with possibly a few exceptions, is your next best choice. The exceptions: Banks that use CashEdge as their middleman for ACH transfers. Bank of America, Citibank, and HSBC are apparently three that use CashEdge -- and charge you a fee because of that, plus impose a 'float' of 2-3 extra days to transfer the money. A losiing situation (and it was CashEdge, not the Patriot Act, that got BofA wrapped around the axle [now solved] -- ACH transfers are no more restricted by a $10k barrier than are SWIFT transfers). So, if you've got a bank that does their own ACH transfers, the only bucks you pay are the ones Bangkok Bank New York charges ($5 for transfers between $101-2000, $10 for transfers from $2001-$50,000) and the 200bt minimim, 500bt maximum fee Bangkok Bank Thailand charges for transfers in [same as they charge for wire transfers]). So, as previously said, this works out to a cost of .3% for an $8000 transfer. Thus a better deal than even a completely feeless ATM card, but one stuck with paying the 150bt ATM owner fee, which works out to a .6% charge on a 25000bt ATM hit. As far as sending smaller amounts, the breakeven point with the above .6% scenario is about $1800 (where you pay BB NY $5, and BB Thailand the minimum 200bt fee). Sending either $2000 or $4000 would cost about .5%; $6000, .4%. Anyway, if you've got one of those super cards that don't charge anything, good deal. For the rest of us (Yanks at least), doing ACH transfers, with a few keystrokes on-line, seems pretty attractive. Link to comment Share on other sites More sharing options...
donx Posted April 25, 2009 Share Posted April 25, 2009 I don't know how often I can use this method, but I have found a possible solution to my in-law's monthly withdrawal situation. I know this won't work for everyone, but for those in my situation with a large Thai community in their home country, this could be an option. We have found Thai friends living in the U.S. with Thai relatives living in Thailand that have money "stuck" in Thailand. They have a desire to tap into these Thai funds, but for various reasons find it difficult or expensive to transfer money from Thailand to the U.S. What they do is have their Thai relatives deposit something like 100,000 baht from their Thai bank account into my wife's Thai bank account. We then pay the Thai living in the U.S. a sum based upon the average between the Buy and Sell rate of Bankok Bank's currency exchange rate for the day of the transfer. Now we have money in our Thai bank account that our relatives can have access to if the 150 baht fee is imposed. We also have a way of getting money over to Thailand prior to our upcoming vacation to Thailand this summer. Link to comment Share on other sites More sharing options...
Texpat Posted April 25, 2009 Share Posted April 25, 2009 A barter system to work the thieving banks out of the equation. Nice move -- assuming none of the parties in your scheme is a bigger weasel than the banks. Good luck. Link to comment Share on other sites More sharing options...
donx Posted April 25, 2009 Share Posted April 25, 2009 A barter system to work the thieving banks out of the equation.Nice move -- assuming none of the parties in your scheme is a bigger weasel than the banks. Good luck. Well the only weasel that can screw up my scheme is me because I have to wait for the transfer to happen in Thailand so I can figure out the exchange rate to apply and then I make my payment to the Thai person here in the US. Link to comment Share on other sites More sharing options...
Nowhereman60 Posted April 25, 2009 Share Posted April 25, 2009 I just made a withdrawal from what my online bank calls Thai Farmers Bank and got 20,000 baht and no fee. I did try a Krung Thai Bank atm first and seen a message about 150 baht charge and cancelled the transaction and moved to the next atm machine. Also my bank gave in an exchange rate of 25.28 baht to US dollar. Link to comment Share on other sites More sharing options...
Naam Posted April 25, 2009 Share Posted April 25, 2009 I just made a withdrawal from what my online bank calls Thai Farmers Bank and got 20,000 baht and no fee. I did try a Krung Thai Bank atm first and seen a message about 150 baht charge and cancelled the transaction and moved to the next atm machine. Also my bank gave in an exchange rate of 25.28 baht to US dollar. Link to comment Share on other sites More sharing options...
Mali1964 Posted April 25, 2009 Share Posted April 25, 2009 I just made a withdrawal from what my online bank calls Thai Farmers Bank and got 20,000 baht and no fee. I did try a Krung Thai Bank atm first and seen a message about 150 baht charge and cancelled the transaction and moved to the next atm machine. Also my bank gave in an exchange rate of 25.28 baht to US dollar. A new bank to the fee free list is appreciated thank you, but have you lost 10 baht to the dollar there surly you mean 35.28 Link to comment Share on other sites More sharing options...
Mali1964 Posted April 25, 2009 Share Posted April 25, 2009 My quesion is does anyone know the max you ca transfer from UK using swift wiout out causing any waves ? ( like the 10k usd mentioned before in this thread.)Thanks in advance. BT Big Toe the 10K mentioned in this thread is for US Banks only. I am sure that the UK government has something similar but I don't know about it. I am not sure, but I think that it's 10,000 pounds. If it's from bank account to bank account, it shouldn't cause too many waves. the authorities in the UK are more interested in cash deposits to a bank account. Unless it's changed in the last few years, all cash deposits, exceeding 1000 pounds, to a UK bank account have to be reported. Also cash transactions exceeding 1000 pounds. If you buy a car from a dealer and pay more than 1000 pounds cash, that should be reported. Twice in 2007 i transferred £14,000 from my Barclay's account using a swift transfer there were no issues only the clerk asked what was i buying over there as she was stamping the form it was more a nosey comment than anything official. Link to comment Share on other sites More sharing options...
jgm005 Posted April 26, 2009 Share Posted April 26, 2009 I just made a withdrawal from what my online bank calls Thai Farmers Bank and got 20,000 baht and no fee. I did try a Krung Thai Bank atm first and seen a message about 150 baht charge and cancelled the transaction and moved to the next atm machine. Also my bank gave in an exchange rate of 25.28 baht to US dollar. If I am not mistaken Kasikorn USE to be Thai Farmers Bank. Bit odd that is still reflects the old name. "KasikornBank Public Co. Ltd. Established in 1945, KasikornBank is the fourth largest commercial bank in Thailand as measured by total assets. KasikornBank (formerly known as Thai Farmers Bank) provides a broad range of consumer, commercial, and corporate banking services. These include lending, deposit–taking, credit card services, international trade financing, custodian services, asset management, and investment banking services." Link to comment Share on other sites More sharing options...
Langsuan Man Posted April 26, 2009 Share Posted April 26, 2009 A new bank to the fee free list is appreciated thank you, but have you lost 10 baht to the dollar there surly you mean 35.28 NO, don't confuse the issue, Kasikorn Bank has always been at the top of the list and so far continues it's fine tradition of offering free foreign ATM card withdrawels Link to comment Share on other sites More sharing options...
loong Posted April 26, 2009 Share Posted April 26, 2009 A new bank to the fee free list is appreciated thank you, but have you lost 10 baht to the dollar there surly you mean 35.28 NO, don't confuse the issue, Kasikorn Bank has always been at the top of the list and so far continues it's fine tradition of offering free foreign ATM card withdrawels Yes Thai Farmers Bank is now Kasikorn. But I don't see how questioning the exchange rate is confusing the issue???? One would hope that it is a typo and was in fact 35.28, not 25.28 Link to comment Share on other sites More sharing options...
Langsuan Man Posted April 26, 2009 Share Posted April 26, 2009 This post has already grown to over 16 pages so when someone throws in another bank that is offering no fee for ATM's that has already been listed many times THAT confuses the issue Link to comment Share on other sites More sharing options...
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