Thai Banks To Start Charging For Atm Withdrawals ...

[sheff_mick]

Thailand is trying everything in its power to disuade foreigners from coming here.

Mind you, thats quite a wack, 150 baht, more than most countries.

Ernest

Yeah, it is a conspiracy. The Banks sit down with the government in smoky back rooms and work out ways to stick it to the poor defenseless farang. Diddums

Get over it. You clearly have no idea about economics.

The banks are charging it cause they are betting that people will pay it regardless, and that they won't go away. How is it in a banks interest to drive away clientele?

They are betting that Mr Sextourist Jones and Mr BarStool Davies are going to go the the bank, and like always, pull out their money, and that this fee, while in the beginning an irritant, they'll quickly get used to paying.

And you will get used to paying it. And you won't leave Thailand, will you?

of course i will. Thailand's xenophobia -enhanced by the new withdrawal fee- has become unbearable. i will therefore put tomorrow our house and our cars on the market. asking 26.5 million Baht cash down. house without contents though! anybody interested should make up his mind fast. no dilly-dallying or tire kickers accepted, first come first served!

This has what to do with the thread apart from letting everyone know you have a few bahts worth of whatever.

W A ****

Edited April 7, 2009 by sheff_mick

[Tompa]

Thailand is trying everything in its power to disuade foreigners from coming here.

Mind you, thats quite a wack, 150 baht, more than most countries.

Ernest

Your joking right? Do you seriously think any tourist/foreigners is going to change their minds and not go to Thailand because of this? If you live here and depend on cash from overseas then simply do a wire transfer once a month or so.

Tompa,

[TonySoprano]

Thailand is trying everything in its power to disuade foreigners from coming here.

Mind you, thats quite a wack, 150 baht, more than most countries.

Ernest

Your joking right? Do you seriously think any tourist/foreigners is going to change their minds and not go to Thailand because of this? If you live here and depend on cash from overseas then simply do a wire transfer once a month or so.

Tompa,

monthly wire fees will certainly add up. better to do once a year.

[sanmiguel]

Big deal. Banks are busineses, not public services.

Many major British, European and American banks are most certainly not private stand alone businesses, you could be sure the same rules would apply to Thai banks in similar circumstances.

Edited April 7, 2009 by sanmiguel

[sanmiguel]

Thailand is trying everything in its power to disuade foreigners from coming here.

Mind you, thats quite a wack, 150 baht, more than most countries.

Ernest

Your joking right? Do you seriously think any tourist/foreigners is going to change their minds and not go to Thailand because of this? If you live here and depend on cash from overseas then simply do a wire transfer once a month or so.

Tompa,

It'd be good to know the actual cost of using the machine and the setting up the computer system that transfers the money, id be willing to bet it'd be nearer a few baht then to 150 baht, this 150bht does seem excessive, thing is most tourists using Atm's in Thailand wont know about this extra charge until they return home.

[TonySoprano]

Thailand is trying everything in its power to disuade foreigners from coming here.

Mind you, thats quite a wack, 150 baht, more than most countries.

Ernest

Your joking right? Do you seriously think any tourist/foreigners is going to change their minds and not go to Thailand because of this? If you live here and depend on cash from overseas then simply do a wire transfer once a month or so.

Tompa,

It'd be good to know the actual cost of using the machine and the setting up the computer system that transfers the money, id be willing to bet it'd be nearer a few baht then to 150 baht, this 150bht does seem excessive, thing is most tourists using Atm's in Thailand wont know about this extra charge until they return home.

Yeah, basically. Also, most tourists will be getting charged just like thinktoolittle because they did not know or bother to find a fee-free atm card anyways.

[thecatman]

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

Edited April 7, 2009 by thecatman

[thecatman]

Yeah, basically. Also, most tourists will be getting charged just like thinktoolittle because they did not know or bother to find a fee-free atm card anyways.

I'm not quite sure you understand TonySoprano, It doesn't matter if you have a fee-free ATM card from your home country, you'll still be charged. This charge is being made by the Thai Banks, not your home country bank.

The only time you'll be able to withdraw from an ATM and not get charged this fee is when you use your Thai ATM card, something very few tourists are likely to have.

Edited April 7, 2009 by thecatman

[Naam]

It'd be good to know the actual cost of using the machine and the setting up the computer system that transfers the money, id be willing to bet it'd be nearer a few baht then to 150 baht, this 150bht does seem excessive, thing is most tourists using Atm's in Thailand wont know about this extra charge until they return home.

and if it was known that the fees are excessive then what? UN Security Council sanctions? add up the blocked capital for the cost of thousands of ATMs as well as their content and then repeat "cost nearer to a few Baht". providing ATMs is a service rendered which is not free of charge. no bank transfers any money without charging a fee, that applies to the initiating and to the receiving bank. cashing from an ATM is nothing but a transfer. the only thing excessive is the number of installed ATMs in Thailand.

[BigSnake]

Thank goodness Don't use one now

[dave2]

thecatman

quote ... The only time you'll be able to withdraw from an ATM and not get charged this fee is when you use your Thai ATM card

use your Thai ATM card in the branch you have an account in = NO Charge

use the same card at ANY other branch of the same bank ( or any other ) anywhere in thailand

= a 20 baht charge

thats what happens with my thai millitary bank and krung thai accounts at least.

regards .....dave2

[thaimate]

i sometimes go to my bank with my card and passport if i want larger amounts ,no charge made ,does anyone think you will be able to do this ?

nationwide charging 1% plus 150 baht ,quite a chunk as i use atm 6 or 7 times a month.

[alrat]

When we put our card in the ATM will they tell us there is a charge ?

Also the uk limit is £300 and you cannot withdraw 15,000 now ..........If you get 52 baht to the £ maybe you can.

So it does'nt make sense to withdraw small amounts.

[Electra]

Most, if not all, European banks have been or will be charging for ATM use abroad. This generally comprises an ERTF ( Exchange rate transfer fee ) of up to typically 2.75% per transaction and a further commission fee usually limited to a maximum of say £5 per transaction. Withdrawing say 10,000 bt would involve a cost of £10 or thereabouts. The proposed Thai fee of 150bt is therefore quite modest in comparison and probably of no concern to the average tourist prizing ease of convenience over economy. However, an expat using ATMs accessing foreign accounts would have to be foolish ( or rich enough ) to fund his residence over a prolonged period. Increasingly, lower limits on withdrawals have been imposed necessitating more frequent usage thus adding to bank profits.

Frankly, an annual transfer to a domestic account appears to be the best route and probably one which the Thai would wish to encourage for obvious reasons.

[think_too_mut]

Yeah, basically. Also, most tourists will be getting charged just like thinktoolittle because they did not know or bother to find a fee-free atm card anyways.

Listen, you newbie. All your idiotic posts all over the board just imply you have no idea where you are.

Your Thai woman is driving you nuts. That happens to social rejects from the West.

Rookie, "think too mutt " is a Thai expression for a very anxious state of mind. That's when they get crazy and make you a fool, running like a headless chicken , as we can see you running every day on this board.

About the banks, Siam City Bank has no fees for using their ATMs. Big deal - they don't but the originating banks do.

[TonySoprano]

When we put our card in the ATM will they tell us there is a charge ?

Also the uk limit is £300 and you cannot withdraw 15,000 now ..........If you get 52 baht to the £ maybe you can.

So it does'nt make sense to withdraw small amounts.

if there is a 20 baht charge, some say there is. there is currently no mention of it.

[sanmiguel]

and if it was known that the fees are excessive then what? UN Security Council sanctions?

Possibly or maybe the Thai monopolies commission or similar body, would say that it is illegal for all the banks to collude into making such a deal ....... not exactly creating a free open market im sure you'd agree.

Surely all bank charges in Thailand are governed by the same laws, if Thais were to get charged 150 baht (which as all i know they do) then surely this would be seens as excessive profit and the government could put limits on such cartel like profiteering.

But Thailand have been used to a one sided free trade agreement with western nations for so long that they dont know what free trade is.

[Electra]

Miguel,

Which bit of my post did you not comprehend?

[Lopburi99]

I think the handwriting is on the wall for continuing increases in the costs of ATM use here in Thailand, either from the home country end or the Thai end. Banks worldwide are trying to increase profits and this is an easy way. Less favorable currency conversion rates or charges are probably coming too.

Unfortunately, I think the best means of getting my monthly U.S. retirement money will be via money transfer. When I visit my daughter there in June, I plan to research out the best financial institution to use. I would rather not use a bank, but rather a credit union somewhere which usually has much lower fees overall. However, I read somewhere on TV that one bank (I think Citibank) allows wire transfers to be evoked online, which is a huge advantage over having somebody back home on a joint account go to the bank to initiate the transfer each month.

All that said however, our biggest concern/vulnerablity is the conversion rate from our home currency to the baht. ATM usage charges, although annoying as hel_l, for most of us are much less a factor in the determination of our net monthly income over time.

[thecatman]

thecatman

quote ... 'The only time you'll be able to withdraw from an ATM and not get charged this fee is when you use your Thai ATM card'

use your Thai ATM card in the branch you have an account in = NO Charge

use the same card at ANY other branch of the same bank ( or any other ) anywhere in thailand

= a 20 baht charge

thats what happens with my thai millitary bank and krung thai accounts at least.

regards .....dave2

Yeah, Dave, I am aware of Thai banks charging a small fee for using different ATMs around the country like you pointed out, that's why I put 'this fee', as opposed to writing 'a fee' meaning that I was referring to the 150 Bt charge in particular.

Edited April 7, 2009 by thecatman

[sanmiguel]

Miguel,

Which bit of my post did you not comprehend?

I wasnt quoting it.

I didnt realise once i read your post that i was now enlightened. Though in response to your genius i would say that western banks hardly hold the superior moral ground when it comes to being fair with customers.

If you read my post im saying in the west it would be illegal for a cartel of banks to do what theyre doing ....... sometimes our regulators get things right for the consumer.

Thailand is supposed to have a free open market this cartel shows it is not.

Ive lived in several European countries in the last few years and have only ever got charged by my bank not the bank who provides the ATM, if i make a telephone call i wouldnt be charged by their provider aswell as my own this is akin to that.

But Lopburi99 is right banks are looking for new avenues to make profits, and they arent going to get anyone arguing with them over this.

[Electra]

What on earth are you wittering on about Miguel?

How much do you pay for your petrol at the pump or are you trundling along on your bicycle in protest at that cartel?

PS You are quite right to acknowledge my genius.

Edited April 7, 2009 by Electra

[TonySoprano]

Yeah, basically. Also, most tourists will be getting charged just like thinktoolittle because they did not know or bother to find a fee-free atm card anyways.

Listen, you newbie. All your idiotic posts all over the board just imply you have no idea where you are.

Your Thai woman is driving you nuts. That happens to social rejects from the West.

Rookie, "think too mutt " is a Thai expression for a very anxious state of mind. That's when they get crazy and make you a fool, running like a headless chicken , as we can see you running every day on this board.

About the banks, Siam City Bank has no fees for using their ATMs. Big deal - they don't but the originating banks do.

My originating banks don't, thinktoolittle.

[oMega69]

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

So if a Use the Islamic Bank of Thailans ATM i will not get the 150THB extra fee ?! . . .

[sanmiguel]

What on earth are you wittering on about Miguel?

It is fairly clear, including the first line that said i wasn't responding to you in the initial post, and the line that highlights the fact ive never been charged by 2 banks for 1 withdrawal anywhere in the world, how the <deleted> someone of your undoubted genius couldnt fathom this out is a worry for me.

How much do you pay for your petrol at the pump or are you trundling along on your bicycle in protest at that cartel?

I use red diesel, exclusively made in British waters as a protest, kills 2 birds with one stone this does, as it enables me to avoid my other pet hate ....... taxation.

PS You are quite right to acknowledge my genius.

Yes the only prole genius in the world who thinks Cartels that cost him money are tickityboo.

[think_too_mut]

My originating banks don't, thinktoolittle.

OMG.

Regular man use toilet paper and pay bank fees.

But superman, like you, does neither.

If you had any clue how to navigate through daily life, you would ask yourself : who pays my bank fees?

Your bank (not Thai bank) sets the exchange rate. "No fees" rate is equal (or worse) to hotel reception desk exchange rate. Could be 10-15% worse than ATM rate.

[Electra]

Miguel,

Perhaps you had better stick with what you know best i.e. minority football from the perspective of the lower end.

Who'd have thunk it, beaten by the Black Cats and facing relegation with that girl's blouse Shearer fiddling in the dressing room?

Still, it could be worse, the HMRC could dip your tank .......

[loong]

thecatman

quote ... The only time you'll be able to withdraw from an ATM and not get charged this fee is when you use your Thai ATM card

use your Thai ATM card in the branch you have an account in = NO Charge

use the same card at ANY other branch of the same bank ( or any other ) anywhere in thailand

= a 20 baht charge

thats what happens with my thai millitary bank and krung thai accounts at least.

regards .....dave2

2 recent withdrawals of 15,000 Bt, charge was 25 Bt

Kasikorn bank ATM withdrawals at all Kasikorn ATMs in your province are free. Kasikorn ATMs in a different province are 10 Bt

[TonySoprano]

My originating banks don't, thinktoolittle.

OMG.

Regular man use toilet paper and pay bank fees.

But superman, like you, does neither.

If you had any clue how to navigate through daily life, you would ask yourself : who pays my bank fees?

Your bank (not Thai bank) sets the exchange rate. "No fees" rate is equal (or worse) to hotel reception desk exchange rate. Could be 10-15% worse than ATM rate.

Wrong again.

If the buying rate listed by kasikorn is for 35thb/usd, then my bank gives me 35.

You see how your bank statement lists the cost of the exchange and then their fee? My fee is $0.

Ok?

[theoldgit]

Why oh why does everyone have to fall out and make remarks about other board members?