Thai Banks To Start Charging For Atm Withdrawals ...

[thaimate]

nationwide have announced that they will not be puting the charge on their visa card up to1% but leaving it at .84% in july.

[JAS21]

nationwide have announced that they will not be puting the charge on their visa card up to1% but leaving it at .84% in july.

If it helps..I used an Ayudhya ATM resterday with Nationwide flex debit. It didn't inform me that there was a charge. I got 10000baht costing £180.78 so that gives 55.32 and Ayudhay TT showed 55.91 and BB TT 55.85 at that time, so I got charged something somewhere as what I get to TT Rate has in the past been quite close.

[jfchandler]

What ST says below is correct. Notwithstanding what E*Trade's web site says or may say, they are in fact NOT charging VISA's 1% fee.... or perhaps more correctly to say... they are not passing that fee along to their customers, at least at present.

VISA may well be assessing that charge on our transactions. But if they are, then E*Trade is absorbing it. I've got two months worth of experience using their Visa debit card and every time getting a rate very close to the IER (Interbank Exchange Rate) that proves that fact

Actually, ironically, I held off opening a checking/debit card account with E*Trade for a couple months because, while people here on TV were claiming to be getting no fee transactions, I too was reading the language on E*Trade's web site and thinking to myself, NO, I don't want that kind of fee. But then for other, different reasons later, I had a good reason to open a new account with them and figured, nothing to lose. And sure enough, the E*Trade customers here were correct in what they'd been reporting all along... NO FEE.

"Even etrade includes the following in their note found at the bottom of their ATM fee refund web page: . . . E*TRADE Bank does impose a charge equal to 1% of the transaction amount (including credits and reversals) for non-U.S. currency transactions."

Sorry, but currently, that's simply not true -- there was a post awhile back from some WWW that tracks the arcane details of various Credit and Debit cards when used in international cash transfers -- it said that ET "reserves the right to charge 1%", but I can assure you, based on over 4 years of Thai transfers, they're not currently doing that.

I suspect this falls into the category of erroneous advice-- such as ET assuring inquirers that they DO NOT reimburse the new Thai Usury Fee, when we have several examples reported here that they currently DO reimburse! ( fingers crossed on that one )

.

[jfchandler]

Chaimai is correct... UOB is fine, and they're not doing any funny business with exchange rates... Those amounts re international currency exchange are determined elsewhere, not by UOB...

See the following post as the latest proof of this...

I think (and jfchandler + JimGant are closer to this than me) that UOB have no impact on the exchange rate. The rate is influenced by your home country card issuer and the transacting agent i.e. VISA or Mastercard. HSBC are an example of a bank that always seems to apply a poor rate of exchange.

[DavidHouston]

Question:

On June 2,2009 I went to K bank and Siam Bank at same time (5 minutes apart) and did a debit card inside the branch withdrawl.

There appears to be a charge of US $2 on my statement. It is a US bank

For 20,000 baht was $604.75 USD which is 33.07. I got that rate for both K and Siam bank!

That doesn't sound very good. How can I check to see if that is normal or would I have gotten a better rate at the ATM and pay the 150 baht fee.

I guess I need to go inside and do a debit card withdrawl and also at the atm and see what I get.

Which is the best way to get funds, I don't like paying the 150 Baht fee?

Thank you

My experience with a debit card issued by a U.S. bank used in Thailand is that the ATM machine will warn you before it completes your transaction about the fact that your card will be charged 150 baht for the withdrawal. You then have the option of canceling the transaction if you do not wish to pay the fee.

[vagabond48]

I have read here a number of times that the foreign currency exchange rate is determined by the home bank.

This afternoon, I decided to test the theory. I took my 3 visa atm cards from BOI, Fidelity and Schwab and went to a GSB ATM machine. I withdrew within a couple of minutes, 500baht each. I went online to each of the sites and $14.66US was withdrawn or a rate of 34.106.

I had planned to do the same withdrawals at UOB but unfortunately my last withdrawal at GSB took the money out of my account, gave me a nice receipt but the machine malfunctioned and did not give me my 500baht.

I had an interesting experience trying to get my 500baht from the branch which I finally did through a bit of aggressive New Yawk attitude. They were telling me to call me bank as if that would have solved the problem. I finally insisting they call their main branch to convince them it was their f$cking ATM machine that had my 500baht not my bank. By the time I left the bank with my 500baht, I didn't think going to the UOB would be a valid comparison.

[jfchandler]

Vagabond, I don't think it's correct to say the foreign exchange rates are set by our home banks.

I believe it's more correct to say, the base foreign exchange rates are set by the card networks like VISA and MC, and then people's home banks either leave those rates alone or do things to reduce the effective rates people receive.

[JimGant]

I have read here a number of times that the foreign currency exchange rate is determined by the home bank.This afternoon, I decided to test the theory. I took my 3 visa atm cards from BOI, Fidelity and Schwab and went to a GSB ATM machine. I withdrew within a couple of minutes, 500baht each. I went online to each of the sites and $14.66US was withdrawn or a rate of 34.106.

That says that BOI and Fidelity can join E*Trade, Capitol One, and Schwab as truly fee-free cards. To confirm, however, check your accounts in a couple of days to see if any of the charges have been adjusted upwards (USAA does this to me). As far as GSB goes, the three transactions show that: no 150bt fee is being charged; and they are not using DCC. Period. It certainly doesn't indicate that GSB has influence over exchange rates, which it doesn't.

The reason why I am interested is because I currently have Fidelity and Schwab debit cards that reimburses all my fees (except the visa fee).

You just proved this is NOT true. If Fidelity and Schwab were passing on the 1% Visa foreign transaction fee, your exchange rate would have been south of 33.8.

You are to be commended for thwarting the 500bt GSB fee for excessive wear and tear on their equipment.

[JimGant]

Yes, half a Baht difference between VISA and CIRRUS. I have always been happy with the rate applied by VISA and it is only now that I have a CIRRUS comparison. It is VISA that have always charged Nationwide and only now are Nationwide passing that charge onto the customer.

The difference between the Cirrus cash card and Visa flex card is, of course, the .84% Visa charge that Nationwide recently decided to pass on. MasterCard/Cirrus is also most certainly charging Nationwide to ride their network -- but for some reason, Nationwide has decided not to pass this fee on to its customers. Perhaps they were afraid ATM-only cash card customers were more sensitive to fees than those holding the more flexible Visa ATM/Debit card..... But, since they've decided NOT to further raise the fee to 1%, maybe there was more sensitivity there than they projected -- and customers are bailing.

I got 10000baht costing ?180.78 so that gives 55.32 and Ayudhay TT showed 55.91 and BB TT 55.85 at that time, so I got charged something somewhere as what I get to TT Rate has in the past been quite close.

Welcome to the world of .84% passed-on fees.

[Chaimai]

Yes, half a Baht difference between VISA and CIRRUS. I have always been happy with the rate applied by VISA and it is only now that I have a CIRRUS comparison. It is VISA that have always charged Nationwide and only now are Nationwide passing that charge onto the customer.

The difference between the Cirrus cash card and Visa flex card is, of course, the .84% Visa charge that Nationwide recently decided to pass on. MasterCard/Cirrus is also most certainly charging Nationwide to ride their network -- but for some reason, Nationwide has decided not to pass this fee on to its customers. Perhaps they were afraid ATM-only cash card customers were more sensitive to fees than those holding the more flexible Visa ATM/Debit card..... But, since they've decided NOT to further raise the fee to 1%, maybe there was more sensitivity there than they projected -- and customers are bailing.

I got 10000baht costing ?180.78 so that gives 55.32 and Ayudhay TT showed 55.91 and BB TT 55.85 at that time, so I got charged something somewhere as what I get to TT Rate has in the past been quite close.

Welcome to the world of .84% passed-on fees.

Agree with all the above. However, it seems incongruous that the CIRRUS cash card does not attract a fee but the VISA Debit card does (Nationwides decision to pass on one fee and not the other) - it is odd because the cash card is aimed at the 'lower credit score end of the market' whilst the VISA debit card is an 'upgraded' or 'higher status' product.

PS - I managed to get cash out of GSB in Prakhon Chai today with my VISA debit card. Did not get the communication error message - rate 55.78 (blocked, GBP 179.25) I will check online tomorrow to see how the .84% is charged (rate 56.25 if 84 Baht already added to the transaction.)

Edited June 25, 2009 by Chaimai

[vagabond48]

You are to be commended for thwarting the 500bt GSB fee for excessive wear and tear on their equipment.

Yeah, between reporting the problem to the bank, going home to check my account online, returning to the bank and waiting for them to make the difficult decision to part with the huge sum of 500B, it only cost me 90 minutes but we parted with smiles.

[Chaimai]

You are to be commended for thwarting the 500bt GSB fee for excessive wear and tear on their equipment.

Yeah, between reporting the problem to the bank, going home to check my account online, returning to the bank and waiting for them to make the difficult decision to part with the huge sum of 500B, it only cost me 90 minutes but we parted with smiles.

But,......It is that sort of spirit and doggedness that wins wars. 10/10 Sir

Edited June 25, 2009 by Chaimai

[SurfRider]

After two Pattaya GSB ATMs that were not working, finally some joy from AEON at South Pattaya Tesco.

US$ Rate 34.109 on June 25, ETrade Debit VISA, no 150 Baht Thai Usury fee. ( X-Rates @ 34.1248 )

It doesn't look much like an ATM and you might mistake it for a control console for an experimental Thai weapons system if it wasn't sitting next to a "REAL" ATM, but it DOES dispense Baht if you massage it's buttons properly . . .

.

"I had an interesting experience trying to get my 500baht from the branch which I finally did through a bit of aggressive New Yawk attitude. They were telling me to call me bank as if that would have solved the problem. I finally insisting they call their main branch to convince them it was their f$cking ATM machine that had my 500baht not my bank"

Another "Amazing Thailand" story along those lines that made the news in Pattaya a couple of years ago --

One Kasikorn Branch had an ATM that swallowed the newly dispensed cash before the customer could grab it -- It forked over the receipt and the debit appeared on the home account, but no cash in hand.

This happened to three people who went inside to report the incident to the Manager.

His response: "File a police report" ( now, that's what I call $ERVICE! ) [ TiT ]

.

Edited June 25, 2009 by SurfTrader

[vagabond48]

"I had an interesting experience trying to get my 500baht from the branch which I finally did through a bit of aggressive New Yawk attitude. They were telling me to call me bank as if that would have solved the problem. I finally insisting they call their main branch to convince them it was their f$cking ATM machine that had my 500baht not my bank"

Another "Amazing Thailand" story along those lines that made the news in Pattaya a couple of years ago --

One Kasikorn Branch had an ATM that swallowed the newly dispensed cash before the customer could grab it -- It forked over the receipt and the debit appeared on the home account, but no cash in hand.

This happened to three people who went inside to report the incident to the Manager.

His response: "File a police report" ( now, that's what I call $ERVICE! ) [ TiT ]

.

This is the 2nd time this has happened to me. About 5 months ago, I withdrew 2000b from a Bangkok Bank ATM, receipt stated 2000b but only 1500b came out. I went into the branch and 20 minutes later they gave me my 500B. That is also the reason I normally withdraw my money during banking hours using ATMs at the branch location.

I guess between my New Yawk friendly personality and a bit of luck, except for loss of my time (priceless), I didn't lose any money.

[JimGant]

Is going long distances to avoid 150bt really worth it? Probably not. And not just because of the time, transportation cost, and convenience factor.

My big fear with ATM machines is not getting soaked by a fee -- but having my card "eaten" -- or, as in Vagabond's experience, not having my money come out. That is why I never use an ATM machine in a mall, airport -- or a strange bank (unless I'm traveling.)

So, I use my local bank (Bangkok Bank), in a small town -- where I know most of the bank staff -- and only during business hours. And I draw out max --25000bt -- (or a second 25000, if needed), then take the money home and put it in a locked drawer to be doled out as required (let's not revisit the "I don't trust my relatives; I don't like to carry large sums of money" argument. We've gone there before, and nobody was home). And, if the card is 'eaten,' or money doesn't appear in full, I go grab my buddy, the ever-friendly and helpful manager.

This is what I do -- and until a few moments ago, I figured I was paying a few baht for the privilege, when compared to obtaining an E*Trade card and paying a 150bt ATM service fee.

Nope.

Example: If I had a completely fee-free card, like E*Trade or Schwab, and, say, the TT rate was an even 34 baht, I'd probably get about a 34.10 exchange rate with that card. So, using 34.10, if I draw out 25000 baht, the dollar cost would be $733.14. Ah, but if there's a 150bt ATM fee, that adds another $4.40 (150/34.10) to my bill. So, total bill: $737.54. Thus, the effective exchange rate I receive is 33.90.

But I don't have a completely fee-free card. Instead, I ACH money to Thailand through Bangkok Bank New York. Usually in increments of $8000. So, if I send $8000, BB NY deducts $10 -- so only $7995 is actually sent. And I get the TT rate (which I established above at 34). So, 7995 x 34 = 271,830. But BB in Thailand subtracts 500bt, so only 271,330bt shows up in my account. Lemme see. 271,330/$8000 equals an exchange rate of 33.92. Hey, that's slightly better than using an E*Trade card at an ATM machine that charges 150bt.

Point: Using your Thai ATM card to draw money that is sent in cheaply ($10 for Yanks using ACH) will come out about the same as using the best foreign fee-free ATM card, and paying the 150bt.

Yes, if you had one of those fee-free cards, you could chase all over town for an ATM machine that doesn't charge 150bt. But, in my case, not going into the city, and wasting time and gas, is well-worth 150bt for the convenience, economics, and safety of using my local bank, with a local ATM card.

And for the majority of us who don't have a fee-free card (paying 1%, .84%, whatever) the argument is even more compelling. Using the numbers in my example above, you'd come out money ahead, not just breaking even.

Using your local bank makes sense from several perspectives -- even if they charge 150bt on foreign ATM cards.

[jfchandler]

Jim I agree with your initial point, which was, it makes little sense to make long, time-consuming and petrol-money consuming drives just to save 150 baht... No question about that...

However, as to your fiscal analysis, I believe you're missing a salient point. With the example you used about using an E*Trade debit card at a bank like BKK Bank that's charging the 150 baht fee.... What you're missing is that E*Trade IS reimbursing the 150 baht Thai ATM charges, immediately, and without the need for request by the customer. So, you don't need to be subtracting the $4.xx per transaction and reducing the effective exchange rate from ATM transactions, in that kind of example.

So actually, at least for the present, E*Trade customers with ATM cards really have the best of both worlds. 1] their card is paying the top ATM exchange rate available. and 2] they have the fiscal freedom to use any Thai bank ATM that's convenient and not have to worry about the 150 baht ATM fees, because if one is charged, it will be reimbursed in real time by E*Trade.

Now, how long that will continue, of course, I can't predict. And I don't know what would happen if some E*Trade customer started piling up 20 $4.25 Thai ATM charges every month. But clearly, for now, E*Trade is doing the reimbursements. That's also why I've said several times, that I'll continue to only do the E*Trade reimbursement route when I'm in a pinch, and other times continue to use fee-free ATMs... Because I don't want to, proverbially speaking, kill the goose that laid the golden egg.

I'm guessing, that Schwab also will reimburse the 150 baht fees. But I haven't had a chance to check that yet. And what about smaller banks like the Bank of Internet that another poster mentioned???

If we find that a number of U.S. banks do in fact continue reimbursing the 150 baht fees, then the whole notion of people having to go out of their way to avoid the fee will become moot.

In my case, between UOB and GSB and AEON locations nearby in BKK, I don't normally have to worry about these issues. But I do understand that others living upcountry don't have the same level of convenient banking options available to them... That's why, options like E*Trade right now serve a real purpose and value.

[thaimate]

to update the G.S B bank machine on north pattaya road has started accepting nationwide visa cards again.

[JimGant]

What you're missing is that E*Trade IS reimbursing the 150 baht Thai ATM charges, immediately, and without the need for request by the customer. So, you don't need to be subtracting the $4.xx per transaction and reducing the effective exchange rate from ATM transactions, in that kind of example.

Good point, JC. I knew I'd probably drop one juggling pin in that overall analysis.

As you say, it would be nice to see how the other fee-free card issuers are handling the 150bt charge.

[jfchandler]

Good point Jim... I was the "guinea pig" for E*Trade to see how they'd handle the 150 baht fee.

Anyone else with a Schwab or Bank of Internet (or other reimbursing) debit card want to give a 150 baht ATM machine a try, and see how the bank handles the fee???

It certainly would be good to find out what other U.S. or European banks out there might be reimbursing their customers when they incur the Thai 150 baht ATM fee....

[BIGTOE3]

But,......It is that sort of spirit and doggedness that wins wars. 10/10 Sir

NATIONWIDE UPDATE

I AGREE totally, IF you keep at them the wee guy can win, Just received an e'mail CONFIRMING I can have a fifth Nationwide card - NON VISA - had to get to the Senior underwriring manager though..... BUT it was worth it - I hope. Just waiting for the documents to come through.

If you fail - try again - just go higher..

BT

[SurfRider]

"is well-worth 150bt for the convenience, economics, and safety of using my local bank, with a local ATM car"

As the saying goes, "Different Strokes . . ."

For me, it's as much a matter of principle as it is saving 5400 Baht per year-- which is what the Thai Usury Fee would cost me if I were willing to be fleeced for it-- and that's assuming I managed my withdrawals carefully to minimize the fees.

My point is: In a civilized country with sensible laws, they would never be able to get away with levying such a usury fee. ( particularly so, when they can't justify the need for it, nor tell the truth about why they did it in the first place )

But as we all know, this is "Amazing Thailand" and fleecing Farangs is inherent in the DNA . . . . . . [ TiT ]

.

[johng]

Today on a mini shopping spree I needed 14,000 baht

so went to the AEON ATM in Tesco ( south Pattaya ) got 7,000 baht with my

( mostly but but not allways ) trusty Nationwide Visa Debit card.

Put the card in to get another 7,000 baht and got " please contact your bank"

errrmm ok, so then I tried the Ayudthaya ATM downstairs in Tesco...same thing.

Boll**ks thought my card has been red flaged and I'll have to phone them.

My other half was not amused and said I could borrow 7,000 from her so I could buy her a new fridge

When we got home I had to go to Tukcom anyway So I decided to try my card in the Ayudthaya ATM at the main entrance and...(drumroll ) it worked...and even better it didn't charge the 150 baht fee..nor did the AEON ATM.

[JimGant]

For me, it's as much a matter of principle as it is saving 5400 Baht per year

Ok. I guess I'm not much on principles, if the tradeoff involves abandoning my nearby bank for the inconvenience of having my ATM card eaten by an ATM machine, in a faraway mall, that doesn't charge 150bt.

But, I actually didn't have to even consider the 'principle' thing. This thread got me off my fat arse to do some number thumping. I found that my card's "we only charge the 1% Cirrus foreign transaction fee" wasn't such a great deal after all. Plus, it turned out, they were actually charging about 1.3% off the TT rate (they can't explain this). But an ACH transfer to my Bangkok Bank account costs only .3% (sending $8000). For what I spend in Thailand annually, that's over $300 in savings. Real money I'd been losing, 'cause I was too lazy to run the numbers.... So, now, I don't even have to consider the 150bt conundrum......

As JChandler points out, the absolutely best deal is a fee-free card that DOES reimburse the 150bt. But so far, E*Trade is the only 'definite' I've seen in this category. Hopefully we'll see others surface, as these cards are definitely the way to go -- if you like using your local bank -- and don't have any principles.

Has anyone reported yet whether or not Nationwide is reimbursing the 150bt? Maybe I've missed it..... But if they're not, and because of the 300GBP transaction limit, even the fee-free Cash Card could be costing nearly 1% per transaction. I don't know if jolly 'ole England has something equivalent of an ACH transfer, but even if not, a SWIFT wire above a certain amount would turn out superior. Yeah, there are other factors with this, like lost interest and Forex risk. But, running the numbers might be worth it -- as I found out, after losing money for several years that I didn't even realize was happening.

[samui04]

"is well-worth 150bt for the convenience, economics, and safety of using my local bank, with a local ATM car"

My point is: In a civilized country with sensible laws, they would never be able to get away with levying such a usury fee. ( particularly so, when they can't justify the need for it, nor tell the truth about why they did it in the first place )

If I remember well ALL ATM card in Italy since the introduction of the Euro have a 2E fee for using them on a different bank, it doesn't matter where it is. Sooner or later they will discover that it is not fair getting the same amount of 2E for a withdrawal in MIlan (other bank) or in Nepal, so they will charge twice... (hope they never wake up ).

Thai bank probably wake up late, they were very stupid to work for free for external customer. The only error was the amount, starting at 3E from zero is a bit steep.

ps: Italy is a civilized country

[barryofthailand]

Jim I agree with your initial point, which was, it makes little sense to make long, time-consuming and petrol-money consuming drives just to save 150 baht... No question about that...

However, as to your fiscal analysis, I believe you're missing a salient point. With the example you used about using an E*Trade debit card at a bank like BKK Bank that's charging the 150 baht fee.... What you're missing is that E*Trade IS reimbursing the 150 baht Thai ATM charges, immediately, and without the need for request by the customer. So, you don't need to be subtracting the $4.xx per transaction and reducing the effective exchange rate from ATM transactions, in that kind of example.

So actually, at least for the present, E*Trade customers with ATM cards really have the best of both worlds. 1] their card is paying the top ATM exchange rate available. and 2] they have the fiscal freedom to use any Thai bank ATM that's convenient and not have to worry about the 150 baht ATM fees, because if one is charged, it will be reimbursed in real time by E*Trade.

Now, how long that will continue, of course, I can't predict. And I don't know what would happen if some E*Trade customer started piling up 20 $4.25 Thai ATM charges every month. But clearly, for now, E*Trade is doing the reimbursements. That's also why I've said several times, that I'll continue to only do the E*Trade reimbursement route when I'm in a pinch, and other times continue to use fee-free ATMs... Because I don't want to, proverbially speaking, kill the goose that laid the golden egg.

I'm guessing, that Schwab also will reimburse the 150 baht fees. But I haven't had a chance to check that yet. And what about smaller banks like the Bank of Internet that another poster mentioned???

If we find that a number of U.S. banks do in fact continue reimbursing the 150 baht fees, then the whole notion of people having to go out of their way to avoid the fee will become moot.

In my case, between UOB and GSB and AEON locations nearby in BKK, I don't normally have to worry about these issues. But I do understand that others living upcountry don't have the same level of convenient banking options available to them... That's why, options like E*Trade right now serve a real purpose and value.

I don't understand. How can e trade reimburse a charge that doesn't show. The 150 baht surcharge is rolled into the total amount of the withdrawal, and doesn't show as a separate fee.

Barry

[jfchandler]

Barry, that's correct...

A lot of U.S. banks seem to include other banks' ATM fees in your basic withdrawal line item, at least in terms of how they show you the transaction in their online banking screens.

That doesn't mean, however, that behind the scenes, their systems can't see and know that a fee has been charged, and for how much. Why they do it that way, I don't know. They could just as easily show the fee as a separate line item, but many don't.

I, the Thai bank ATM customer, certainly know a fee has been charged. It shows up as a separate line item on my Thai bank ATM receipt. So there's no reason my home bank wouldn't be able to discern the same information.

[johng]

Ayudthaya still fee free for me in Pattaya using a Nationwide Visa Debit card

Nationwide are passing on the 0.85% Visa charge.

9- June-09 Cash Bay/Pattaya Tai BR.#2 CHONBURI. 500.00THB at 54.054.£9.25

15-June-09 Cash Bay/Pattaya Tai BR.#2 CHONBURI. 5,000.00THB at 55.426.£90.21

27-June-09 Cash Aeon Credit Sy/South Lotu BANGKOK. 7,000.00THB at 55.674. £125.73

27-June-09 Cash Bay/Com Building Pattaya CHOLBURI. 7,000.00THB at 55.674. £125.73

[vagabond48]

Barry, that's correct...

A lot of U.S. banks seem to include other banks' ATM fees in your basic withdrawal line item, at least in terms of how they show you the transaction in their online banking screens.

That doesn't mean, however, that behind the scenes, their systems can't see and know that a fee has been charged, and for how much. Why they do it that way, I don't know. They could just as easily show the fee as a separate line item, but many don't.

I, the Thai bank ATM customer, certainly know a fee has been charged. It shows up as a separate line item on my Thai bank ATM receipt. So there's no reason my home bank wouldn't be able to discern the same information.

Last year, I got hit with ATM fees in Cambodia and Vietnam and here in Thailand briefly with the sneak attack of the SCB ATM fee that caught me of guard. Each time, the fee was part of the total money deducted from my account and no separate record of the fee was transmitted by VISA to the 3rd party banks that provide the banking services for Fidelity and Schwab (as per their customer reps). This forced me to call them to get the fee reversed. I thought it was because I was using an overseas ATM machine. When I first got the Fidelity card, I tested it in the U.S.and it showed a separate ATM fee line and refund that amount.

I haven't tried withdrawing from any ATMs with the 150b fee because I "usually" withdraw 1000b and no more than 2000b, so I don't want to hit Fidelity and Schwab with a $4+ fee just for $30 to $60. Like JC, I don't want to abuse their "gift". In fact last year, each gave me a $10 credit towards future fees so I don't want to use it up unless all Thai banks go to this 150b fee (bite my tongue ) Perhaps, if someone here uses their Fidelity or Schwab, they could report if a refund was posted.

Edited June 28, 2009 by vagabond48

[SurfRider]

"If I remember well ALL ATM card in Italy since the introduction of the Euro have a 2E fee for using them on a different bank . . . Thai bank probably wake up late, they were very stupid to work for free for external customer. . . ps: Italy is a civilized country"

First of all, I hope you understand that my comments were about Thailand and the new Thai Usury Fee and had nothing to do with Italy!

But your comments do beg the question -- Could people who have become accustomed to being hit with the 2E and 3E fees that you identified-- possibly find ways of avoiding them if a detailed discussion --such as the one in this Forum-- had occurred???

The new Thai Usury Fee has never been explained or justified by those who imposed it -- If they were happy with the previous arrangement for the past 20 years, why can't they explain their justifications for their Usury Fee actions now?

I've run into several Farangs recently who are completely oblivious to what is being done to them by greedy Thai bankers -- They're vaguely aware of the new Usury Fee, but don't have a clue that they could completely avoid it if they took 10 minutes out of their busy schedule to learn what to do.

It's almost like the infamous musical scene in the Wizard of OZ movie -- "We're off to see the Wizard . . .", but this version is more like "We're off to see the ATM, but we're idiots and we can't wait to be fleeced by the new Thai Usury Fee " . . . . . . [ TiT ]

.

[vagabond48]

But your comments do beg the question -- Could people who have become accustomed to being hit with the 2E and 3E fees that you identified-- possibly find ways of avoiding them if a detailed discussion --such as the one in this Forum-- had occurred???

I've run into several Farangs recently who are completely oblivious to what is being done to them by greedy Thai bankers -- They're vaguely aware of the new Usury Fee, but don't have a clue that they could completely avoid it if they took 10 minutes out of their busy schedule to learn what to do.

I hope over time with members pitching in, we can learn more about the monetary advantages of withdrawing cash by going to the bank teller with an debit/ATM card and passport. Which banks, Thai or home, have no acknowledged or hidden fees/charges and which Thai banks provide the best exchange rates.