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Thai Banks To Start Charging For Atm Withdrawals ...


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"Aeon machine delivered 7,000 baht (as usual, no fee) . . . (some Aeon machines seem to have a limit of 7,000 per transaction and I've taken to accepting that as a general limit so as to avoid problems)."

I don't know if all AEON ATMs are capable of vending more than 7,000 per transaction, but the one I've been using in Pattaya has done 22,000, 23,000 and 25,000 in one shot on separate transactions. You still see the 7,000 limit on the first screen, but if you drill down through 5 or 6 screens, it will allow you to enter the amount that you want.

I don't recall the exact sequence of screens, but it's something like "Other" > "English" > "Savings" or "Current" ( "Current" is a checking account ) and then there may be one or two or more screens before you hit the jackpot.

My comment was based on going to screens beyond the first "Quick Cash" to get to where I could enter, say, 10,000.00 (well within the per-day limit from my UK bank - Nationwide) and getting declined. Re-starting the transaction and selecting 7,000.00 from the first screen works every time. As I said, there seems to be variation between limits on different Aeon ATMs - either that or there's some quirk in the system. I just do what works for me.

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..............so it may be time to start just transfering lump sums to my kasikorn thai bank account. Does anyone do this and have any views on it negative or positive? the only negative thing i can think of is that the £ seems to be getting stronger against the baht at the moment so if i transfer say 4 months worth of money tomorrow, i will get todays exchange rate where as if i was using my atm card i would be getting an up to date exchange rate (hopefully better than todays).

if anyones get any bright ideas/info, please let me know!

best regards,

Matt

Hi Matt,

As someone already said, the rates move around and, therefore, transferring a large amount (e.g. the 4 months supply you mentioned) is a gamble or a "play". My habit before UK interest rates dropped to negligible was to keep as much as I could earning 5-6% for as long as possible. Plainly that's less of an issue now. I think I get 0.5 or 0.75% from my Kasikorn account (should check) - either of which is close enough to 1-ish% available in the UK for instant access savings to make it academic for the amounts involved.

My advice would be to spread your rate risk by transferring via the over-the-counter Debit card withdrawal route. The Kasikorn branch I use has a daily limit of 20,000 baht - others may be higher and you might even be able to get the same from a different branch on the same day........ or (maybe) just go to other brands of bank, come to that; worth checking out. You need your passport but the process only takes about ten minutes. Not as quick as hitting the nearby ATM, but hardly a major hassle either.

The other negative of the transfer route is the fee. I've established to my satisfaction that there is no fee (other than Nationwide now passing on the 0.84% visa charge) - overt or hidden in a poor exchange rate.

I'm sure others will have different views....... :)

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( From a Pattaya newspaper article )

A new branch of the Government Savings Bank opened August 21 in the Central Festival mall in Pattaya.

The new branch has extended business hours, and the services include money deposits and withdrawals, loans, online payments, a 24 hour ATM, and currency exchange. The bank will be open daily, from 11am to 8pm (20:00 hrs)

The policy of the Government Saving Bank is to facilitate money transactions for the local people, the government and private sectors.

While studying in England, King Rama VI took the opportunity to see how English savings banks accumulated money for the government's use. On his accession to the throne, the king expressed his intention of establishing a savings bank in Thailand.

The bank was founded in 1913 with the name Klang Omsin. Initially under the Finance Ministry, it has undergone many changes during the course of Thai history, and finally became the Government Savings Bank, or Thanakha Omsin, in 1991.

.

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Considering the recent demise (from no fee status) of UOB Bank, maybe it's time to re-pose this question:

Apart from E*Trade and Charles Schwab banks, is anyone else's banks doing ATM fee reimbursements for the Thai banks' 150 baht ATM fee???

If so, time to speak up!!!

Even though I have other options, I will continue to use no-fee Government Savings Bank and AEON ATMS if at all possible (even though they can be a bit harder to find depending on your area), and avoid the 150 baht ATM pirates, unless I really have a crunch.

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Considering the recent demise (from no fee status) of UOB Bank, maybe it's time to re-pose this question:

Apart from E*Trade and Charles Schwab banks, is anyone else's banks doing ATM fee reimbursements for the Thai banks' 150 baht ATM fee???

If so, time to speak up!!!

Even though I have other options, I will continue to use no-fee Government Savings Bank and AEON ATMS if at all possible (even though they can be a bit harder to find depending on your area), and avoid the 150 baht ATM pirates, unless I really have a crunch.

Don't forget Fidelity, which I have mentioned here several times.

I checked out AEON machines for the 1st time, one of the 4 in CM area. This one was located at Airport Plaza in a somewhat isolated area. I am not sure if I would use it. It looked like it could be a candidate for machine tampering especially during late business hours. Besides, I normally like to withdraw money at a bank branch during business hours just in case the machine didn't not giving me the correct amount which has happened to me twice or swallowed up my card which so far hasn't happened. I see phone numbers along each on the ATM machine listed but wonder how easy it will be to speak with someone who can speak some English.

Since I has several fee free cards, if GSB joins the 150b fee club, I'll just double or triple my withdrawal amount which is right now very low (usually under 2k) and spread the reimbursement of fees around my cards.

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Vagabond, thanks for mentioning Fidelity. I know their account does ATM fee reimbursements in general.

But, I hadn't caught any confirmation that Fidelity will actually reimburse for the Thai 150 baht ATM fees... Can you confirm, you have used a Thai ATM with the 150 baht fee and Fidelity reimbursed the Thai fee??

Thanks much....

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Regarding these fee reimbersments cards, from what I understand, the 150 baht fee is included in the withdrawal amount. If I am correct about this, then do you have to mail the ATM machine receipt to the bank in order to get your reimbersment? This would be a pain in the ass for my in-laws to do.

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For E*Trade...it happens automatically...the customer doesn't have to do anything... I believe that is the same for Schwab...if I remember correctly...

However, as previously mentioned, to get those benefits via an E*Trade account, you have to keep a fair amount of money with them in some form or another, otherwise you get hit with a $15-a-month maintentance fee. But if you have a large enough IRA with them or do stock trading or other kinds of things, then it's easy and a no-brainer.

However, I know of another smaller U.S. bank that, because the Thai fee doesn't show up separately at their end, asks its customers to mail them a copy of the ATM receipts that show the fee (presuming it's easy because their customers presumably are in the U.S.)

Why some U.S. banks are able to recognize the fee and list it separately, while others roll it into the withdrawal amount and then want their customers to prove they got charged a fee, is a mystery to me.

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Vagabond, thanks for mentioning Fidelity. I know their account does ATM fee reimbursements in general.

But, I hadn't caught any confirmation that Fidelity will actually reimburse for the Thai 150 baht ATM fees... Can you confirm, you have used a Thai ATM with the 150 baht fee and Fidelity reimbursed the Thai fee??

Thanks much....

I have never used the Fidelity card on a 150b fee ATM machine. Like you, I have avoided the fee even though, we get reimbursed. Since they officially reimburse all fees except the Visa exchange rate fee (which I know they do :) ), I have no reason to believe that I will not get reimbursed. I guess I'll found out for sure if GSB joins the club and there is no longer any free lunch with the Thai banks (excluding AEON).

I did call Schwab yesterday to get my 150b reimbursement but the rep said I had to wait until the end of the month just in case it posted by then. She said Visa sometimes posts the fees late. I think she wrong since I have never seen a fee posted on any of my cards, but I am willing to wait. Out of curiosity, I will call again to see if that is the official policy or was she just assuming or guessing the the rule (my experience from enough of low paid CRs).

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Thanks for clarifying that, Vagabond... I didn't recall having seen you report previously that you'd actually been reimbursed by Fidelity....as yet...

Re E*Trade, I did use a BKK Bank ATM a couple of times just to test the system, and see what would happen with reimbursements. And indeed, E*Trade posts the reimbursement amount immediately, at the same time as the withdrawal transaction.

But just to clarify from my earlier post.... they only show one withdrawal amount (the total of your actual withdrawal and the 150 baht fee). And then they give you the immediate credit for the amount of the ATM fee. Although, as I and others have indicated previously, it's not clear under their stated, written policy that they are supposed to reimburse these fees.

Here's what one of those ATM withdrawals from BKK Bank looks like in the E*Trade system:

post-53787-1250916988_thumb.jpg

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Just so folks know, here's what Schwab Bank says about their ATM fee reimbursements...

Unlimited ATM fee rebates apply to cash withdrawals using the Schwab Bank Visa® Platinum Check Card wherever it is accepted. ATM fee rebates do not include currency exchange fees; fees imposed by merchants for POS transactions; or fees for stamp purchases, balance inquiries, or any transactions other than for an ATM cash withdrawal from your Schwab Bank account. Schwab Bank makes its best effort to identify those ATM fees eligible for rebate, based on information it receives from Visa and ATM operators. In the event that you have not received a rebate for a fee that you believe is eligible, please call a Schwab Bank Customer Service Representative for assistance at 1-888-403-9000. Schwab Bank reserves the right to modify or discontinue the ATM fee rebate at any time.

I certainly don't believe the Thai banks' 150 baht ATM fee would be considered a "currency exchange fee" under the Schwab policy. So presumably Schwab's ATM reimbursements policy would cover Thai banks' 150 baht ATM fees.

If anyone else has direct personal experience with how Schwab handles the 150 baht fee, please do chime in...

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Thanks for clarifying that, Vagabond... I didn't recall having seen you report previously that you'd actually been reimbursed by Fidelity....as yet...

Re E*Trade, I did use a BKK Bank ATM a couple of times just to test the system, and see what would happen with reimbursements. And indeed, E*Trade posts the reimbursement amount immediately, at the same time as the withdrawal transaction.

But just to clarify from my earlier post.... they only show one withdrawal amount (the total of your actual withdrawal and the 150 baht fee). And then they give you the immediate credit for the amount of the ATM fee. Although, as I and others have indicated previously, it's not clear under their stated, written policy that they are supposed to reimburse these fees.

Here's what one of those ATM withdrawals from BKK Bank looks like in the E*Trade system:

post-53787-1250916988_thumb.jpg

So the 150 baht fee was included as part of the withdrawal amount?

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Just so folks know, here's what Schwab Bank says about their ATM fee reimbursements...
Unlimited ATM fee rebates apply to cash withdrawals using the Schwab Bank Visa® Platinum Check Card wherever it is accepted. ATM fee rebates do not include currency exchange fees; fees imposed by merchants for POS transactions; or fees for stamp purchases, balance inquiries, or any transactions other than for an ATM cash withdrawal from your Schwab Bank account. Schwab Bank makes its best effort to identify those ATM fees eligible for rebate, based on information it receives from Visa and ATM operators. In the event that you have not received a rebate for a fee that you believe is eligible, please call a Schwab Bank Customer Service Representative for assistance at 1-888-403-9000. Schwab Bank reserves the right to modify or discontinue the ATM fee rebate at any time.

I certainly don't believe the Thai banks' 150 baht ATM fee would be considered a "currency exchange fee" under the Schwab policy. So presumably Schwab's ATM reimbursements policy would cover Thai banks' 150 baht ATM fees.

If anyone else has direct personal experience with how Schwab handles the 150 baht fee, please do chime in...

I did get a Schwab card that my in-laws have just used. So far the withdrawal appears to include the 150 baht fee since the amount withdrawn was 10,150 baht and the withdraw amount that shows up online is 298.53. So how can I go about getting my 150 baht fee back? I don't have the receipt since I am in the US?

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Yes Don... In the case of E*Trade, the withdrawal line item in your online banking ledger shows a single combined withdrawal amount (your actual cash withdrawal plus the 150 baht fee, if applicable for that ATM). But as you can see, they do the ATM fee credit as a separate line item.

So the 150 baht fee was included as part of the withdrawal amount?
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Don, I'd suggest, follow the guidance in the Schwab web site info I posted above... Monitor your account to see if they automatically post a credit. If they don't, call their customer service number as listed above. Vagabond wrote above about his similar experience with Schwab.

I believe the Schwab people can see the fee in their system, even if it isn't listed separately in your online banking ledger. But, it would be interesting to find out if, when Schwab doesn't do an automatic credit, whether they simply can see the fee and reimburse it when you call, or whether they will ask customers to mail in ATM receipts. I hope it's not the latter.

I did get a Schwab card that my in-laws have just used. So far the withdrawal appears to include the 150 baht fee since the amount withdrawn was 10,150 baht and the withdraw amount that shows up online is 298.53. So how can I go about getting my 150 baht fee back? I don't have the receipt since I am in the US?
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Don, I'd suggest, follow the guidance in the Schwab web site info I posted above... Monitor your account to see if they automatically post a credit. If they don't, call their customer service number as listed above. Vagabond wrote above about his similar experience with Schwab.

I believe the Schwab people can see the fee in their system, even if it isn't listed separately in your online banking ledger. But, it would be interesting to find out if, when Schwab doesn't do an automatic credit, whether they simply can see the fee and reimburse it when you call, or whether they will ask customers to mail in ATM receipts. I hope it's not the latter.

I did get a Schwab card that my in-laws have just used. So far the withdrawal appears to include the 150 baht fee since the amount withdrawn was 10,150 baht and the withdraw amount that shows up online is 298.53. So how can I go about getting my 150 baht fee back? I don't have the receipt since I am in the US?

I'll wait until the middle of next week and if they don't automatically credit it fee then I will call them and ask them to do it. Hopefully I won't need to obtain the receipt and send it in as proof a fee was charged.

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I believe the Schwab people can see the fee in their system, even if it isn't listed separately in your online banking ledger. But, it would be interesting to find out if, when Schwab doesn't do an automatic credit, whether they simply can see the fee and reimburse it when you call, or whether they will ask customers to mail in ATM receipts. I hope it's not the latter.
I did get a Schwab card that my in-laws have just used. So far the withdrawal appears to include the 150 baht fee since the amount withdrawn was 10,150 baht and the withdraw amount that shows up online is 298.53. So how can I go about getting my 150 baht fee back? I don't have the receipt since I am in the US?

Last October 2008, when I used the Schwab card in Vietnam, Schwab did not see the $2 fixed ATM fee in Vietnam Dong currency posted on their system. They reimbursed me for $4US ($2 x 2), just on my word. They did not request that I mail them proof. In fact, they voluntarily offered to add an additional $5 credit to my account to minimize future calls because their system didn't record overseas ATM charges. The Cust Rep, I spoke to yesterday did not mention that I would need proof. Assuming their system doesn't see the fees, if we have to wait for 1 month and ask over the phone for $10 to $20 reimbursement, they may want to have proof. We'll see.

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I checked out AEON machines for the 1st time, one of the 4 in CM area. This one was located at Airport Plaza in a somewhat isolated area. I am not sure if I would use it. It looked like it could be a candidate for machine tampering especially during late business hours. Besides, I normally like to withdraw money at a bank branch during business hours just in case the machine didn't not giving me the correct amount which has happened to me twice or swallowed up my card which so far hasn't happened. I see phone numbers along each on the ATM machine listed but wonder how easy it will be to speak with someone who can speak some English.

Since I has several fee free cards, if GSB joins the 150b fee club, I'll just double or triple my withdrawal amount which is right now very low (usually under 2k) and spread the reimbursement of fees around my cards.

No idea if it's convenient for you, but there's a pair of Aeon ATMs in their branch on the lower floor of Tesco Lotus Khamtien; from what I've seen, the Aeon branch seems to be open the same hours as Lotus. As it happens, there's also a GBS ATM just outside the left-hand entrance to the Mall - but that won't meet your (entirely sensible) criterion of it being attached to a bank branch.

Each to their own ways and far be it from me etc..... but I can't help thinking that the days of simply strolling a few yards to any nearest ATM to pick up a couple of thousand are behind (most of) us. But, maybe if you're getting the fees reimbursed, this doesn't apply so much to you?

Edited by Steve2UK
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these ATM charges are outrageous! has anybody thought of filing a law suit? perhaps with a Federal Judge in Duluth, Minnesota or Little Rock, Arkansas? there is also the International Criminal Court in The Hague! :)

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I was thinking Naam could part with a bit of spare (under the couch cushions) change, and simply agree to reimburse every farang in Thailand who's hit with the 150 baht per ATM withdrawal charge... After all...it would just be couch change for Naam.... Don't need to worry about any lawsuits for that.... :)

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Surely even a Klingon would prefer not to pay the fee if at all possible :)

I'm still using Bank Of Ayuttya ATM's free of the charges with my Nationwide Visa Card if anyones interested.

14 Aug 2009 Cash Bay/Maesai BR. CHEANGRAI TH 5,000.00THB at 55.872.

14 Aug 2009 Cash Bay/Maesai BR. CHEANGRAI TH 10,000.00THB at 55.878.

15 Aug 2009 Cash Bay/Maesai BR. CHEANGRAI TH 5,000.00THB at 55.772.

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That's strange, Jubby.... After UOB went belly up this past week, I tried a Bank of Ayudhya ATM in BKK....and the ATM screen clearly said there would be a 150 baht fee charged.... I was using a U.S. bank debit card at that time... I didn't proceed with the transaction, but the message on the ATM screen was crystal clear....

Hmm... here's the pound-baht exchange rate numbers shown on the X-Rates.com site for the days of your withdrawals... There's quite a large spread on the 14th.... I'm wondering if they weren't fiddling with the exchange rate...like they do for MasterCard withdrawals from U.S. $ or Euro-based cards...

2009-08-14 August 14, Friday 56.4474 THB

2009-08-17 August 17, Monday 55.5685 THB

Edited by jfchandler
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Each to their own ways and far be it from me etc..... but I can't help thinking that the days of simply strolling a few yards to any nearest ATM to pick up a couple of thousand are behind (most of) us. But, maybe if you're getting the fees reimbursed, this doesn't apply so much to you?

Even though I can get all my fees reimbursed, I don't want to abuse the fee free cards, so as I stated earlier, I will make larger withdrawals to limit the number of visits to the ATM.

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I agree with Vagabond... I have, but don't want to abuse the fee reimbursing cards.... If I need to use them at 150 baht ATMs, I can and will...

But in general, I'm more conscious now about planning my errands and travels to include places around BKK that happen to have a Government Savings Bank or AEON ATM. And fortunately, beyond that, there's a BTS station with a GSB ATM that's within walking distance from my home, albeit not the closest one or the one I mostly use coming and going...

The other thing I've changed is....I'm using debit cards more often to pay at (established) restaurants and food markets and such. That has some risks...but also advantages, for those who use "rewards" checking accounts to gain 4-5% interest rates even in today's market on their deposited funds....

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Siam, you're spending/paying close to a 1000 baht fee to Citibank every time you move funds in Thailand.... I'm not sure why anyone would consider that to be any kind of bargain....

It might be a real bargain if Siam is wiring over 500,000 baht. :)

Seriously, Siam should consider walking into a bank like SCB that allows over the counter withdrawals for free.

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That's strange, Jubby.... After UOB went belly up this past week, I tried a Bank of Ayudhya ATM in BKK....and the ATM screen clearly said there would be a 150 baht fee charged.... I was using a U.S. bank debit card at that time... I didn't proceed with the transaction, but the message on the ATM screen was crystal clear....

Hmm... here's the pound-baht exchange rate numbers shown on the X-Rates.com site for the days of your withdrawals... There's quite a large spread on the 14th.... I'm wondering if they weren't fiddling with the exchange rate...like they do for MasterCard withdrawals from U.S. $ or Euro-based cards...

2009-08-14 August 14, Friday 56.4474 THB

2009-08-17 August 17, Monday 55.5685 THB

Jfchandler, Visa is taking its cut .8 per cent or thereabouts I think. I've seen the Message clearly in the past , saying there's a 150 baht charge about to be imposed and been given the option to decline. I just don't get the message anymore. Stranger than strange for sure.

I'm from a banking & IT background which makes it even more strange for me to comprehend. Infact I think its pretty Bizarre; Maybe Its magic :)

Banks SHOULD be consistent for sure, but this one isn't .

I'll keep using BAY as long as its free (to me anyways) . And its probably best I refrain from commenting on it :D

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Siam, you're spending/paying close to a 1000 baht fee to Citibank every time you move funds in Thailand.... I'm not sure why anyone would consider that to be any kind of bargain....

Yes. The Citibank online wire is convenient but expensive. Golden 1 credit union is free, so we walk in there once a month paperwork in hand.

BULL

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