Thai Banks To Start Charging For Atm Withdrawals ...

[Samuian]

Big deal. Banks are busineses, not public services.

yeah ,on the contrary the public isn't liable for the banks as in recent days....

and the banking system should not be able to hold the public at

"ransom" for their failures and fiscal policies...

and the public isn't a banking servant...

and the public should be protected from the greed of banking shareholders

and the like....

ahh' you know!

20-30 £ for a money transfer even within the so called SWIFT system - is plain robbery!

Edited April 27, 2009 by Samuian

[Mali1964]

LIST OF FEE FREE BANKS AS OF 27/04/2009

1 Kasikorn Bank http://www.kasikornbank.com/

2 Government Savings Bank http://www.krungsri.com/en/index.aspx

3 Bank of Ayudhya http://www.krungsri.com/en/index.aspx

Links for those not familiar with the Logo's on the ATM's i think i have them right ?

Hey Mali1964, Cheers for the update, just that the Government Savings Bank link is incorrect (you've duplicated the Bank Of Ayudhya one).

Here goes: The Government Savings Bank ATM's and logo looks like this.

So i did thanks for that Catman i must pay more attention next time i did have all 3 websites open as well

[Chaimai]

[quote name='Samuian' date='2009-04-27 14:32:32' post='2695000'

20-30 £ for a money transfer even within the so called SWIFT system - is plain robbery!

Have you seen the call out charge for a plumber

That SWIFTY charge has been the same for over 10 years.

Technology and competion MAY help to bring about a reduction - see the earlier link to Halifax Bank who charge GBP 9.50 for an online SWIFT transfer,

Now THAT does beat your local plumber.

[SurfRider]

jfchandler, Thanks for the additional information.

This comment is from the high-yield account website:

"High yield reward checking accounts are mostly being offered by small banks and credit unions which restrict account opening to local residents."

Is there some way that your average wayward Expat living half-way around the other side of the planet can take advantage of these benefits? -- or, am I missing something?

To others:

On the "Government Savings Bank", it appears that they are only in Bangkok -- Has anyone spotted one of their neon pink ATMs in Pattaya? ( seems that they would be difficult to miss )

http://www.gsb.or.th/others/atm.php

.

[jfchandler]

Surfrider, there are two answers to the question you pose below...

1. To open any new U.S. bank account, it's going to be easier, most of the time, for the customer to have access to some kind of U.S. mailing address to use as your address of record (though not all banks require that). If you or others don't have or use a U.S. mailing address, there are any number of ways to get one while still living here in LOS. And some banks (though I'm not sure how many) apparently will also accept foreign addresses for U.S. citizens.

2. If the customer does have a U.S. address, then the only issue is does the bank involved open its new accounts to everyone, or just to people in their area/state. Or in the case of credit unions, live in some area or belong to some eligible employer or community group.

If you look at the web site I cited above for rewards checking accounts, you will find there is one list/web page of accounts that are available to anyone "living" (meaning, having a U.S. address) in any state. Then, there are separate lists of other banks and accounts that limit new accounts to people who "live" in their local area/state.

The bottom line is, all the accounts I cited in prior posts in this Thai Visa thread are available to anyone with a U.S. address in any state. And the broader list on nationwide accounts there on the web site for rewards checking accounts that I cited lists dozens of available banks and accounts, more than enough to meet anyone's individual needs.

Rather than pulling one quote out of the narrative summary, you might consider looking at the lists of actual banks and accounts that are available, both nationwide and state by state. The web site includes, for each entry, links to the bank or credit union's home page and to the web site author's very good reviews and descriptions of the details of those accounts.

I'm certainly your "average, wayward Expat living half-way around the other side of the planet (BKK in my case)," and I've had absolutely no problem in finding and opening more than enough U.S. bank accounts to meet my needs both for high interest rates and avoiding ATM fees.

jfchandler, Thanks for the additional information.

This comment is from the high-yield account website:

"High yield reward checking accounts are mostly being offered by small banks and credit unions which restrict account opening to local residents."

Is there some way that your average wayward Expat living half-way around the other side of the planet can take advantage of these benefits? -- or, am I missing something?

[phaethon]

Removed

Edited April 27, 2009 by phaethon

[SurfRider]

jfchandler, My apologies -- I was hopping around the Site and missed the nationwide link.

I just checked one source in my home state and their 5% rate quickly drops to .1% if the stringent requirements are not met.

I've never used a Debit Card overseas for basic everyday purchases ( apparently necessary to meet one of the requirements ), so I don't know if it's even possible or if transaction charges might negate the advantage of the higher yield.

Nevertheless, it's an intriguing concept for a diligent person who is willing to carefully manage the necessities associated with such a challenge.

One example:

Aloha Pacific Federal Credit Union is offering a reward checking account called KalaRewards Checking which pays 5.00% APY for balances up to $50,000 if you meet the typical reward checking requirements AND if you have a home equity line of credit. Without the HELOC, the yield drops to 4.00% APY. The typical monthly reward requirements include:

1) 10 debit card transactions,

2) direct deposit or ACH bill payment, and

3) receive electronic statements.

If these are not met the rate falls to 0.10%.

.

[Langsuan Man]

To others:

On the "Government Savings Bank", it appears that they are only in Bangkok -- Has anyone spotted one of their neon pink ATMs in Pattaya? ( seems that they would be difficult to miss )

http://www.gsb.or.th/others/atm.php

.

As reported WAY BACK on page 12 (and still current 7 pages later)

Bank of Ayudhaya, still no fee,

Government Savings Bank, still no fee,

Kasikorn Bank, still no fee,

This test was done in Pattaya so Government Savings Bank does have at least one ATM in Pattaya but I cannot say I have ever seen a branch here

[loong]

jfchandler, Thanks for the additional information.

This comment is from the high-yield account website:

"High yield reward checking accounts are mostly being offered by small banks and credit unions which restrict account opening to local residents."

Is there some way that your average wayward Expat living half-way around the other side of the planet can take advantage of these benefits? -- or, am I missing something?

To others:

On the "Government Savings Bank", it appears that they are only in Bangkok -- Has anyone spotted one of their neon pink ATMs in Pattaya? ( seems that they would be difficult to miss )

http://www.gsb.or.th/others/atm.php

.

The GSB or OOmsin banks are in every town, but I think that mostly, they only have ATMs outside their banks.

For sure, there will be branches in Pattaya, but address, I wouldn't know. Ask a thai where the tanakan Oomsin is.

[JimGant]

Are there any other ways to get money from a foreign bank (I have a debit and credit card) to Thailand that costs less than 150 Baht which Siam Bank is now charging? I can wire funds from my bank but that costs 50 .

You can certainly do better than paying a $50 wire fee. You'll need a Bangkok Bank account, and your US account has to be able to do ACH transfers (most are able). Instead of $50, you'll pay $5 for a $2000 transfer, or $10 for transfers between $2001-$50000 (plus between 200-500bt on the receiving end, same as for a wire transfer, as is the TT rate you'll receive).

And you'll do better than most -- unless you're one of the lucky few with an ATM/debit card that charges no fees, and reimburses any other fees.

Plenty of info on this on this forum. Search ACH or ACH/EFT.

[thecatman]

On the "Government Savings Bank", it appears that they are only in Bangkok -- Has anyone spotted one of their neon pink ATMs in Pattaya? ( seems that they would be difficult to miss )

http://www.gsb.or.th/others/atm.php

You can do a search of their Branch Locations on the website in the link, but you'll need to be able to read Thai to use it.

[SurfRider]

Thanks for the reference to Post #289 Langsuan --

I guess that's the Tutcom IT center on South Pattaya Road -- Difficult to imagine that there are 8 flavors of ATMs available in one place, but as they say "almost anything is possible in Pattaya"

Unless I'm missing something, it seems that the goal of this entire thread is to avoid the new confiscatory fee imposed on withdrawals from foreign accounts.

If that's the case, it sounds like GSB is the answer to everyone's woes, since they're apparently not a member of the current cabal that has hopped on the "Let's fleece hapless Farangs" bandwagon - at least in this example.

Case closed???

.

[Jiu-Jitsu]

I can't see that as being the answer. Can't imagine everyone traipsing around town to reach to get cash from a single ATM. Maybe if they have their own transport, such as a motorbike. What if it is raining? Would you still travel for twenty minutes to get to an ATM machine?

[Mali1964]

Chaimai' date='2009-04-27 15:59:41' post='2695056']'Samuian' date='2009-04-27 14:32:32' post='2695000'

20-30 £ for a money transfer even within the so called SWIFT system - is plain robbery!

Have you seen the call out charge for a plumber

That SWIFTY charge has been the same for over 10 years.

Technology and competion MAY help to bring about a reduction - see the earlier link to Halifax Bank who charge GBP 9.50 for an online SWIFT transfer,

Now THAT does beat your local plumber.

I think if you have the Halifax account for large transfers & Nationwide for over the counter or for use in the 3 preferred banks ATM then you have the best of both worlds you can even escape the new Nationwide 1% fee if you apply for the cash card.

Just remember not to use your Halifax card overseas as there's a 2.75% charge & a £1.50 fee per transaction, HBOS as to rescue the mess their in some how.

[phaethon]

Would you still travel for twenty minutes to get to an ATM machine?

Whenever caught short in MBK I always take the lift up to the top floor to use only free toilet (that I know of) to save 2baht - Does that answer your question?

[Mali1964]

While my misses is waiting for my Nationwide cash card she as one of these pre paid Mastercards, well it was my turn today to try out the ATM told her Kasikorn or Government bank as we have both in the village i gets a call ATM say card no good

Just rang the bank they say all their cards are blocked until further notice in Thailand due to skimming but have asked i go in branch so i await her phone call to say she as the cash.

What happens if all banks follow suit then the cashiers will be busy that will get around the fee though for everyone.

Ok they gave her the cash, one little issue was there's no name on this card & that confused them for ID purpose's but they cleared it in the end.

So for those of you who want to use a pre paid card it can be used over the counter with no fee if you have the Cashplus card just make sure you apply for a card in her name as they do show the name on there card.

The negative for these cards is they still carry a UK end 2.75/3.00% & £1.50 ATM fee & this is the minimum i've found but its worked for me temporary as my Nationwide cash card is winging its way to Thailand as i type.

Halifax Account applied for today to take advantage of that £9.50 swift fee.

Thanks for all the info so far guys lets keep it updated on ATM charges from our favourite 3 banks in Thailand keep our fingers crossed.

[Mali1964]

[/b][/u]

Please name this bank that's the cheapest swift fee i've seen, Nationwide £20 Barclay's £28 snail pace & £45 for 2/3 day transfer

Halifax Bank

Thanks Jiu-Jitsu for that.

[Chaimai]

I think if you have the Halifax account for large transfers & Nationwide for over the counter or for use in the 3 preferred banks ATM then you have the best of both worlds you can even escape the new Nationwide 1% fee if you apply for the cash card.

Just remember not to use your Halifax card overseas as there's a 2.75% charge & a £1.50 fee per transaction, HBOS as to rescue the mess their in some how.

Mali - thanks for the work you have done on this thread, a clear pattern is emerging for the best way to move/withdraw money out of the UK.

I have one lazy question (because it is late and I am off to bed) - What account do you need with Nationwide to get the cash card ? My recollection is that when I looked on their website they only issued VISA debit cards with the Flexaccount. I am happy to stand corrected.

[SurfRider]

"I can't see that as being the answer. Can't imagine everyone traipsing around town to reach to get cash from a single ATM. Maybe if they have their own transport, such as a motorbike. What if it is raining? Would you still travel for twenty minutes to get to an ATM machine?"

No, I probably wouldn't make a special trip, but in my case, I go to a market that's one block from there at least twice a month, so it would be no problem to include that ATM on the route.

According to someone who posted earlier, these bright neon-pink renegade ATMs are located in many towns at several locations.

It's unfortunate that the English section of GSB's website doesn't list the locations, or that somebody in this Forum who reads Thai doesn't translate the list and post it.

( Maybe they're currently publishing that data and will sell it to the hapless wayward Farangs for something like 150 Baht per ATM??? )

.

[loong]

Here's the North Pattaya branch, Handy if you go to Tesco Lotus

[thecatman]

Mali - thanks for the work you have done on this thread, a clear pattern is emerging for the best way to move/withdraw money out of the UK.

I have one lazy question (because it is late and I am off to bed) - What account do you need with Nationwide to get the cash card ? My recollection is that when I looked on their website they only issued VISA debit cards with the Flexaccount. I am happy to stand corrected.

You can request a cash card with the Flexaccount. In fact, with the way things are in the financial world at the moment I believe they are, on more and more occasions, only offering new account holders the cash card to start with and then saying that the customer can upgrade to the Visa Debit card after a certain period of time once the account has become more established.

[phutoie2]

I tried to use my Nationwide flex account debit card at the Government Savings Bank in the town of Wichien Buri (Petchabun). Despite several attempts it was a 'no can do'.

I did notice that above the ATM the lack of the usual VISA logo's etc. Perhaps all GSB's do not accept foreign cards.

The debit card is not blocked as I have withdrawn cash before the new charges came in, Nationwide do have a habit of blocking cards if you have not used them for some time - happened to myself twice now! and damned annoying.

My own personal solution to this was to bring in a bundle of UK sterling on my last trip to GB (April) and hope the pound recovers a little bit!!

[Chaimai]

My own personal solution to this was to bring in a bundle of UK sterling on my last trip to GB (April) and hope the pound recovers a little bit!!

....and are you happy keeping it under the mattress ??

In this day and age it cannot be the smart thing to do to hold a bundle of cash - it is a shame that you have felt pressured into do that.

[ray23]

Ok not enough confusion yet, originally I thought this was a Government move. Now I'm seeing it's a move by the Thai Bankers Association. I beleive that is a private entity. So I'm going to post the list again and the question is are there any banks with ATMS in town that are not a part of the Thai Bankers Association?

As far as I'm concered this fee is usery. I could see for example doubling the fee which would be fifty close to what atm fees are in the U.S. but in this case they have incresed the fee 7 times in one move. Since this is not a Goverment entity this is one time I think a letter campiagn may actually do some good. Evbery baht that we spend there in bringing baht into the coutry is a baht that will no spent in the community where it is needed most. So I'm thinking about these banks but Also the Finance Minister, BOT, Interior Minister, Thailand Chamber of Commerce, American Chamber of Commerce in Thailand, the TAT.

Next question anyone care to complete a form letter we can use, with the way I write I would be the last person who could do that. My proposal is to bury these guys in e-mails and express how detructive we find this to be to the Thai economy at a time like this. Wrong move Wrong time a far as I'm concerned. One letter from me would mean little. But thousand of letter may brign it to someones attention.

The alternative is sit here and complain and not try.

TBA ClubsTBA Members

TBA Members

Name President Address

BANGKOK BANK PCL.

Mr. Chartsiri Sophonpanich

Head Office : 333 Silom Rd., BKK 10500 THAILAND

Tel : (66) 231-4333

Fax : (66) 0-2231-4632

website : http://www.bangkokbank.com/

KRUNG THAI BANK PCL.

Mr. Apisak Tantivorawong

Head Office : 35 Sukhumvit Rd., Klongtoey, BKK 10110, THAILAND

Tel : (66) 0-2255-2222

Fax : (66) 0-2256 -8898

website : http://www.ktb.co.th/

BANK OF AYUDHYA PCL.

Mr. Tan Kong Khoon

Head Office : 1222 Rama III Rd., Bangponghang, Yannawa, BKK. ,10330 THAILAND

Tel : (66) 0-2296-2000

Fax : (66) 0-2683-1304

website : http://www.krungsri.com

KASIKORNBANK PCL.

Dr. Prasarn Trairatvorakul

Head Office : 1 Thai Farmers Lane, Ratburana Rd., BKK 10140, THAILAND

Tel : (66) 0-2222-0000

Fax : (66) 0-2470-2749

website : http://www.kasikornbank.com/

THAI MILITARY BANK PCL.

Dr. Boontuck Wungcharoen

Head Office : 3000 Phaholyothin Rd., Chatuchak, BKK 10900, THAILAND

Tel. : (66) 0- 299-1111

Fax : (66) 0-2273-7118

website : http://www.tmbbank.com/

SIAM COMMERCIAL BANK PCL.

Mrs.Kannikar Chalitaporn

Head Office : 9 Rajadapisek Rd., Chatuchak, BKK 10900, THAILAND

Tel : (66 ) 0-2777-7777

Fax : (66) 0-2777-7000

website : http://www.scb.co.th/

STANDARD CHARTERED (THAI) BANK PCL.

Mr. Mark Devadason

Head Office : 90 North Sathorn Rd., BKK 10500, THAILAND

Tel : (66) 0-2724-4000

Fax : (66) 0-2724-8008

website : http://www.standardchartered.com/

SIAM CITY BANK PCL.

Mr. Chaiwat Utaiwan

Head Office : 1101 New Petchburi Rd., BKK 10400, THAILAND

Tel : (66) 0-2253-0200

Fax : (66) 0-2651-7997

website : http://www.scib.co.th/

BANKTHAI PCL.

Mr. Subhak Siwaraksa

Head Office : 44 North Sathorn Rd., Silom, Bangrak 10500

Tel : (66) 0-22638-8000

Fax : (66) 0-2633-9026

website : http://www.bankthai.co.th/

UOB BANK PCL.

Mr. Wong Kim Choong

Head Office : 191 South Sathorn Rd., Yannawa, BKK 10120, THAILAND

Tel : (66) 0-2343-3000

Fax : (66) 0-2285 - 1537

website : http://www.uob.co.th/

THANACHART BANK PLC.

Mr.Suphadej Poonpipat

Head Office : 900 Tonson Tower, Ploenchit Rd., Lumpini

Pathumwan, BKK 10330

Tel : (66) 0-2217-8184

Fax. : (66) 0-2217-9959

website : http://www.thanachartbank.com/

TISCO BANK PLC.

Mr.Pliu Mangkornkanok

Head Office : 48/2 TISCO Tower 1st Floor, North Sathorn Rd., BKK 10500 THAILAND

Tel : (66) 0-2633-6000

Fax : (66) 0-2633-6800

website : http://www.tisco.co.th

LAND AND HOUSES RETAIL BANK PLC.

Ms.Sasitorn Phongsatorn

Head Office :1 Q.HOUSE Lumpinee Building, South Sathorn Rd., South Sathorn., BKK 10120 THAILAND

Tel : (66) 0-2359-0000

Fax : (66) 0-2677-7223

website : http://www.lhbank.co.th

ACL BANK PLC.

Mr.Thongchai Ananthothai

Head Office :11 - 13 Fl.,Emporium Tower 622 Sukhumvit Road, Khlong Ton Khlong Toei, BKK 10110 THAILAND

Tel : (66) 0-2663-9999

Fax : (66) 0-2633-9888

website : http://www.aclbank.com

KIATNAKIN BANK PCL.

Mr. Tawatchai Sudtikitpisan

Head Office : Amarin Tower , 500 Phloenchit Rd. , Lumphini,

Pathumwan, Bkk 10330, THAILAND

Tel : (66)0-2680-3333

Fax : (66) 0-2256-9933

Website : http://www.kiatnakinbank.com/

THAI CREDIT RETAIL BANK PCL.

Mr. Mongkon Leelatum

Head Office : Thai Life Insurance Bldg., Ratchadaphisek Rd., Dindaeng,

Bkk 10400, THAILAND

Tel : (66)0-2697-5454

Fax : (66) 0-2642-3096

Website : http://www.tcrbank.com/

The Thai Bankers’ Association

4th Fl., Lake Rajada Office Complex (Bldg.2), CDF House

195/5,7 Rajadapisek Rd., Klong-Toey, Bangkok 10110

Tel. 66 (0) 2264-0883 – 86 Fax. 66 (0) 2264-0888 e-mail : [email protected]

Edited April 28, 2009 by ray23

[toret]

Big deal. Banks are busineses, not public services.

I agree.

And cash has become a commodity so stop whining.

[JR Texas]

Re Kasikorn, I don't know if they are just slow, or they've made a conscious decision not to impose the 150 baht fee. My guess is it's the former, but I'm hoping it's the latter reason.

Nonetheless, I had never used a Kasikorn Bank or their ATMs before this whole situation arose, although I knew they already had a good reputation as being farang-friendly when it came to opening new accounts.

If time passes and they don't implement the fee, I would plan on migrating my banking business away from BKK and SCB, and to Kasikorn. They have good accounts, many branch locations and ATMs, and also offer their special debit card for making online purchases safely.

In my case, if Kasikorn doesn't implement the fee, that would be the straw that broke the camel's back in getting me to dump BKK and SCB in favor of Kasikorn for my future banking here.

If Kasikorn and the other holdouts thus far do eventually impose the 150 baht fee, then I'll limit my ATM use here to U.S. cards that fully reimburse the fee and, if possible, cover the 1% VISA/MC cut as well.

I don't pay ATM fees in the U.S., and I have no intention of paying them in Thailand.

One other important point: Historically, for those old enough to remember, when ATMs were introduced in the U.S., banks pushed customers to start using them INSTEAD of branch transactions, because presumably ATMs are much cheaper in handling the transactions they do than a bank teller performing the same transaction in branch.

So, for me, it's pretty ironic now, in the midst of the banking meltdown worldwide (though not so much in Thailand) for the banks to come along and start charging extortionate fees for ATM use. Every time you the customer uses an ATM to do something instead of going into the branch to deal with a teller, you are SAVING the bank money, not costing them.

In the years I've lived here, about the only time I've gone into bank branches is to set up and open new accounts. Everything after that has been ATMs for deposits, withdrawals, etc etc... If the Thai banks really want to push their foreign customers into avoiding ATMs, they're shooting themselves in the foot cost-wise.

About "being old enough to remember." I do remember when they introduced the first ATM machines (also computers, steam engines.....ha ha ha)

Banks wanted customers to use them, in part, because they wanted to reduce the number of people doing transactions inside the bank (it was efficient and cost effective).

If I remember correctly, at first there was no charge......in fact, that was the norm for several years. Then they started charging a small amount...........that fee has increased over time (because of greed......computers work for almost nothing).

Thailand's new 150 baht charge is way beyond acceptable bank behavior..........takes the concept of greed to a new level. Congratulations Thailand.........amazing. Another tourism unfriendly, expat unfriendly change.

[ray23]

Big deal. Banks are busineses, not public services.

I agree.

And cash has become a commodity so stop whining.

They are also a monoply usery is usery. I agree they are business and competetion normally keep things on a even Keel, not what yuor seeing here is it? We are already in a situation where we have to tie up pretty good hunk of cash just to stay in the country, with no interest paid whatsoever. I'm sorry but a seven times increase in fees is not reasonable. It they were in a situation where they had to compete this would never have happened.

[Chaimai]

Big deal. Banks are busineses, not public services.

I agree.

And cash has become a commodity so stop whining.

They are also a monoply usery is usery. I agree they are business and competetion normally keep things on a even Keel, not what yuor seeing here is it? We are already in a situation where we have to tie up pretty good hunk of cash just to stay in the country, with no interest paid whatsoever. I'm sorry but a seven times increase in fees is not reasonable. It they were in a situation where they had to compete this would never have happened.

I agree entirely. Having spent 30+ years in banking I was never averse to charging a fee where it was warranted.

However, a "pound of flesh" comes to mind and fees should be relative to the service provided. The 150 Baht fee is NOT proportionate. a 25 baht fee, in line with the fee to withdraw in other provinces, is more realistic.

At 150 baht it falls into the realms of usury.

[Langsuan Man]

Thanks for the reference to Post #289 Langsuan --

I guess that's the Tutcom IT center on South Pattaya Road -- Difficult to imagine that there are 8 flavors of ATMs available in one place, but as they say "almost anything is possible in Pattaya"

Unless I'm missing something, it seems that the goal of this entire thread is to avoid the new confiscatory fee imposed on withdrawals from foreign accounts.

If that's the case, it sounds like GSB is the answer to everyone's woes, since they're apparently not a member of the current cabal that has hopped on the "Let's fleece hapless Farangs" bandwagon - at least in this example.

Case closed???

.

Yes, Tukcom is the large IT center on Pattaya Tai. As you walk in the main entrance there are 5 ATM's on the right side. Government Savings Bank, BANK OF AYUDHYA, KASIKORNBANK, Bangkok Bank, and Thai Military Bank. Across from them on the left side is a Siam City Bank branch and ATM. Further towards the back on the left side is a Siam Commercial Bank branch, (SCB) with an ATM, Cash Deposit Machine and passbook updater. There is also a SCB ATM upstairs on the next floor in the Mobile Phone area

GSB as being the answer, I am afraid the lack English on their website is a war stopper for me

Kasikorn Bank or Bank of Ayudhya are the answer so long as they stay FEE free , IMHO

LSM

Edited April 28, 2009 by Langsuan Man

[KhunDave]

Can confirm that Kasikorn is still fee-free as of 12:45 today, Hang Dong, Chiang Mai.