namoo Posted April 15, 2009 Share Posted April 15, 2009 Those with Citibank Singapore (Citigold) 1 free international transfer per month. Seems the way forward for those paid in Singapore but living in Thailand. Link to comment Share on other sites More sharing options...
Langsuan Man Posted April 15, 2009 Share Posted April 15, 2009 What I find so interesting is that here we are two days from this new ATM fee structure and not one word on The Kasikorn Bank or Siam Commercial Bank web page about this new fee. It appears that Thanachart Bank is the only one letting their customers know. Do those of you who have other Thai bank accounts (Bangkok Bank, Bank of Ayudhaya, Krung Thai Bank, etc.) want to let us know if your bank has it on their web site ? Link to comment Share on other sites More sharing options...
koheesti Posted April 15, 2009 Share Posted April 15, 2009 According to the Thanchart website, The Thai Bankers Association has decided that cardholders of foreign banks will be charged 150 Baht for each withdrawal by debit or credit card, effective April 17th.Not good news. Good to know. I have usually been taking out baht in smaller amounts as I needed it. That would have added up to 1500-2000 baht/month in these fees. I can think of better ways to spend that. Link to comment Share on other sites More sharing options...
jfchandler Posted April 15, 2009 Share Posted April 15, 2009 I believe I saw notice of the fee on the BKK Bank web site the other day... And, I agree with the prior poster... My habit in the past has always been to make smaller amount withdrawals from ATMs, but on a more frequent basis. 1 reason: it's a way of not having to carry too much cash around in one's wallet, especially when ATMs are onmipresent in BKK. 2 reason: I found that for me, carrying smaller amounts of cash tends to help me budget/control my spending, whereas walking around with wads of cash in my wallet tends to have the opposite effect. Now, I may have to change that habit, and make a large withdrawal or two each month, and then probably keep the extra cash at home, instead of carrying it around. However, another alternative is I'm looking at opening a new U.S. bank rewards checking account that supposedly reimburses ALL ATM fees worthwide, without limit, per month. So if the new fee gets reported by the Thai banks as a separate fee from the actual withdrawals, then I should be covered when I use that account's card. But if the Thai banks don't separate out the new fee, then it likely will be more complicated trying to get reimbursed for those. Link to comment Share on other sites More sharing options...
jfchandler Posted April 15, 2009 Share Posted April 15, 2009 This may be an unlikely situation, but it's worth mentioning... I noticed in the Thanachart Bank notice re the fee that the banks assessing it will be members of the Thai Bank(ers) Assn.... So it made me wonder, are any of the various Thai banks that we use perhaps NOT MEMBERS of the TBA and thus not going to be assessing the new 150 baht fee????? Link to comment Share on other sites More sharing options...
thecatman Posted April 15, 2009 Share Posted April 15, 2009 (edited) This may be an unlikely situation, but it's worth mentioning...I noticed in the Thanachart Bank notice re the fee that the banks assessing it will be members of the Thai Bank(ers) Assn.... So it made me wonder, are any of the various Thai banks that we use perhaps NOT MEMBERS of the TBA and thus not going to be assessing the new 150 baht fee????? It's obvious that you haven't read through the previous 6 pages of posts (and understandably so), but this point has been covered, all the banks that are in the Association have been listed and alternative suggestions have been made. (GH Bank/HSBC in Silom area). Edited April 15, 2009 by thecatman Link to comment Share on other sites More sharing options...
Langsuan Man Posted April 15, 2009 Share Posted April 15, 2009 I believe I saw notice of the fee on the BKK Bank web site the other day... Well it's hidden today......... Link to comment Share on other sites More sharing options...
jfchandler Posted April 15, 2009 Share Posted April 15, 2009 Thanks, TheCatMan, for posting the list of bank members of the TBA earlier in the thread, on page 2... I had missed it there... It looks like the list is pretty complete.....not too many (if any) Thai banks missing there... Bangkok Bank Krung Thai Bank Bank Of Ayudhya Kasikorn Bank Thai Military Bank Siam Commercial Bank Standard Chartered Bank Siam City Bank BankThai UOB Bank Thanachart Bank Tisco Bank Land And Houses Retail Bank ACL Bank Kaitnakin Bank Thai Credit Retail Bank I have US based accounts with HSBC, so I have their ATM card and have used it at their single Silom area branch in the past. Last time, I believe they were assessing a 3% international surcharge on ATM withdrawals, but no flat fee. They also seemed to have a not particularly good exchange rate compared to others. But just based on the fee, a 3% fee would be better than a flat 150 baht fee at at amount up to 5,000 baht (which would be break-even, if I did my math correctly). Assuming, the exchange rates in both alternatives would be the same. As I mentioned earlier, the coming pretty much nationwide imposition of the ATM fee by Thai banks makes appealing either 1) trying the in-branch card-based withdrawal approach (though we don't know if they will try to add the fee to those withdrawals yet), or 2) having a U.S. based account and card that reimburses ALL ATM fees, regardless of amount or location. Link to comment Share on other sites More sharing options...
donx Posted April 15, 2009 Share Posted April 15, 2009 However, another alternative is I'm looking at opening a new U.S. bank rewards checking account that supposedly reimburses ALL ATM fees worthwide, without limit, per month. So if the new fee gets reported by the Thai banks as a separate fee from the actual withdrawals, then I should be covered when I use that account's card. But if the Thai banks don't separate out the new fee, then it likely will be more complicated trying to get reimbursed for those. My guess would be that the 150 baht fee shows up as part of the withdrawal. For example, think_too_mut showed the fees he pays when withdrawaling 10,000 baht. If you saw that example (early in this thread), then you would see that it appears as if he withdrew 10,020 baht. Actually, a 20 baht fee was included as part of the withdrawal. My guess is that doing the same after April 17 will show a withdrawal amount of 10,150 baht. If this is the case, then don't expect to get reimbursed for that fee. Link to comment Share on other sites More sharing options...
longball53098 Posted April 16, 2009 Share Posted April 16, 2009 What I find so interesting is that here we are two days from this new ATM fee structure and not one word on The Kasikorn Bank or Siam Commercial Bank web page about this new fee.It appears that Thanachart Bank is the only one letting their customers know. Do those of you who have other Thai bank accounts (Bangkok Bank, Bank of Ayudhaya, Krung Thai Bank, etc.) want to let us know if your bank has it on their web site ? Why would a bank such as SCB or BB or any other publish a notice on their web site announcing this fee? If the fee is intended for the non-customers using the said bank's ATM? It's unlikely an foreign user is going to read that banks website. If there is any announcement it will be on the ATM screen at the beginning of the transaction with some sort of warning that if you continue there will be a 150 baht fee levied. Link to comment Share on other sites More sharing options...
think_too_mut Posted April 16, 2009 Share Posted April 16, 2009 My guess would be that the 150 baht fee shows up as part of the withdrawal. For example, think_too_mut showed the fees he pays when withdrawaling 10,000 baht. If you saw that example (early in this thread), then you would see that it appears as if he withdrew 10,020 baht. Actually, a 20 baht fee was included as part of the withdrawal. My guess is that doing the same after April 17 will show a withdrawal amount of 10,150 baht. If this is the case, then don't expect to get reimbursed for that fee. I have another transaction of 20,000B but no 20B charge. Wife did that, from 2 different ATMs belonging to 2 different banks, one was charging 20B another was not. Yes, I agree, those 20B charged by some banks may become a standard 150B for all. Link to comment Share on other sites More sharing options...
think_too_mut Posted April 16, 2009 Share Posted April 16, 2009 What I find so interesting is that here we are two days from this new ATM fee structure and not one word on The Kasikorn Bank or Siam Commercial Bank web page about this new fee. It would be more interesting if they said anything on their web site or anywhere. There are billions of people in the world with other banks that could be charged if they use Thai banks ATMs, who and why would even try to reach them to broadcast the news? Link to comment Share on other sites More sharing options...
Langsuan Man Posted April 16, 2009 Share Posted April 16, 2009 Well if it hadn't been for Thanchart website we would not even have this thread would we Link to comment Share on other sites More sharing options...
Mali1964 Posted April 16, 2009 Share Posted April 16, 2009 Siam bank that once charged me this 20 baht fee was shown as a fee in the lower left hand portion of the ATM receipt slip & then totalled up to include the fee. I assume the same will happen with this 150 fee,so you should have no problem's with your Banks refunding you. It will be interesting to hear how people go on tomorrow as the banks are still on holiday & have been for a week now. Let us folks not in Thailand at the moment know how you go on. Link to comment Share on other sites More sharing options...
Chaimai Posted April 16, 2009 Share Posted April 16, 2009 I have US based accounts with HSBC, so I have their ATM card and have used it at their single Silom area branch in the past. Last time, I believe they were assessing a 3% international surcharge on ATM withdrawals, but no flat fee. They also seemed to have a not particularly good exchange rate compared to others. But just based on the fee, a 3% fee would be better than a flat 150 baht fee at at amount up to 5,000 baht (which would be break-even, if I did my math correctly). Assuming, the exchange rates in both alternatives would be the same. jfc - are you sure that you have a debit card and not a credit card ? I have UK HSBC cards and was recently charged GBP 6.00 on a GBP 300 ATM withdrawal via credit card i.e. 2%. I was also charged GBP 2.00 (I guess a minimum charge) on a GBP 50.00 ATM withdrawal in KL. Remember that the fee of 150 Baht is Thai bank initiated and is therefore in addition to any charge made by your 'home' bank. In the UK all banks are now passing on the VISA or Mastercard transaction charges of circa 1%. Your are also right, HSBC exchange rates are invariably worse than most. I got 49.89 THB/GBP and on the same day Nationwide conveted at 51.83 Link to comment Share on other sites More sharing options...
Freddie_fly Posted April 16, 2009 Share Posted April 16, 2009 Why oh why does everyone have to fall out and make remarks about other board members? Mainly because we dont have a pair of funbags to fall back on....as you clearly do. regards Freddie Link to comment Share on other sites More sharing options...
Mali1964 Posted April 16, 2009 Share Posted April 16, 2009 Why oh why does everyone have to fall out and make remarks about other board members? Mainly because we dont have a pair of funbags to fall back on....as you clearly do. regards Freddie Typical Yorkshire man attitude Link to comment Share on other sites More sharing options...
jfchandler Posted April 17, 2009 Share Posted April 17, 2009 jfc - are you sure that you have a debit card and not a credit card ? I have UK HSBC cards and was recently charged GBP 6.00 on a GBP 300 ATM withdrawal via credit card i.e. 2%. I was also charged GBP 2.00 (I guess a minimum charge) on a GBP 50.00 ATM withdrawal in KL. Chaimai, I have an HSBC ATM/check card (not credit) that has the MC logo on it. I can't speak to the HSBC fees situation for UK accounts, and on whether they are the same or different from in the U.S.... But here is the language from the HSBC web site re U.S.-based HSBC accounts.... Foreign Transaction Reminder**If you effect a transaction with your Debit MasterCard®, ATM card or your MasterCard® or Visa® Credit Card in a currency other than U.S. dollars or effect a transaction in U.S. dollars outside the United States, MasterCard International Incorporated or Visa as applicable ("Card Association") will convert the transaction into a U.S. dollar amount. A currency conversion will occur even if the transaction is made in U.S. dollars. Card Associations will act in accordance with the operating regulations or foreign currency conversion procedures then in effect. Currently the currency conversion rate used to determine the transaction amount in U.S. dollars for such transactions is either a government-mandated rate or a wholesale rate determined by Card Associations for the processing cycle in which the transaction is processed, and is further increased by a percentage established from time to time by us (currently 3%). The currency conversion rate used by Card Associations on the processing date may differ from the rate that would have been used on the transaction date or cardholder statement posting date. ** Foreign Transaction charges do not apply to Premier [meaning you have a balance with them of at least $100,000 U.S.] credit or debit cards. You can read that language above as meaning that HSBC passes along VISA and MC's own 1% foreign transaction fees, and then adds another 3% charge of their own on top of the 1%. Now, they don't even call those "fees", but instead, they show it as, "Foreign Transaction Reminder." They also have a $1.50 per transaction fee for using non-HSBC ATM machines, depending on the type of account you have with them. Regular checking and savings account holders pay that fee. Their online savings, online payment and Premier account holders do not. Link to comment Share on other sites More sharing options...
maechanman Posted April 17, 2009 Share Posted April 17, 2009 Well here we are on the 17th,anybody out there used their ATM card yet and experienced these charges? Link to comment Share on other sites More sharing options...
cedricmiller Posted April 17, 2009 Share Posted April 17, 2009 I withdrew B5000 from my Washington Mutual/Chase card from Kasikorn around 8.30 am and there was no fee as of then. Link to comment Share on other sites More sharing options...
khunjake Posted April 17, 2009 Share Posted April 17, 2009 Well here we are on the 17th,anybody out there used their ATM card yet and experienced these charges? I'm curious as well to see how the banks will tack on the extra charge or maybe even if they decided to pull the plug on this ordeal at the last minute for fear that tourists may resist pulling money out and actually spending it. Could be some backlash from the Tourist board possibly? Link to comment Share on other sites More sharing options...
donx Posted April 17, 2009 Share Posted April 17, 2009 I withdrew B5000 from my Washington Mutual/Chase card from Kasikorn around 8.30 am and there was no fee as of then. So you withdrew 5000 Baht. Did you check your online balance? What was the amount in US$ for the 5000 Baht? Link to comment Share on other sites More sharing options...
cedricmiller Posted April 17, 2009 Share Posted April 17, 2009 I withdrew B5000 from my Washington Mutual/Chase card from Kasikorn around 8.30 am and there was no fee as of then. So you withdrew 5000 Baht. Did you check your online balance? What was the amount in US$ for the 5000 Baht? No fee on the ATM receipt. Double checked online banking and no fee there either. $142 USD for B5000. Link to comment Share on other sites More sharing options...
donx Posted April 17, 2009 Share Posted April 17, 2009 I withdrew B5000 from my Washington Mutual/Chase card from Kasikorn around 8.30 am and there was no fee as of then. So you withdrew 5000 Baht. Did you check your online balance? What was the amount in US$ for the 5000 Baht? No fee on the ATM receipt. Double checked online banking and no fee there either. $142 USD for B5000. That's good news to me. Maybe most banks won't actually charge this fee. I can always hope can't I? Link to comment Share on other sites More sharing options...
jfchandler Posted April 17, 2009 Share Posted April 17, 2009 I can only guess, the Song Kran holiday/demonstrations and then the two additional, unexpected government-declared holiday days Thurs and Fri may have put them off their implementation schedule.... Link to comment Share on other sites More sharing options...
Naam Posted April 17, 2009 Share Posted April 17, 2009 I withdrew B5000 from my Washington Mutual/Chase card from Kasikorn around 8.30 am and there was no fee as of then. So you withdrew 5000 Baht. Did you check your online balance? What was the amount in US$ for the 5000 Baht? No fee on the ATM receipt. Double checked online banking and no fee there either. $142 USD for B5000. That's good news to me. Maybe most banks won't actually charge this fee. I can always hope can't I? permission granted! Link to comment Share on other sites More sharing options...
maechanman Posted April 17, 2009 Share Posted April 17, 2009 I can only guess, the Song Kran holiday/demonstrations and then the two additional, unexpected government-declared holiday days Thurs and Fri may have put them off their implementation schedule.... It's not very often that Thai's defer money making schemes. Link to comment Share on other sites More sharing options...
Thanyaburi Mac Posted April 17, 2009 Share Posted April 17, 2009 Come on, Heng, is thinktoomut right about being able to get 35.5 (+10% on the ATM rate) with these credit card companies? I figure you would know. My interest (aka my wallet) is piqued. I have no idea as I wasn't really listening, and I only have one credit card (Amex) which I pretty much never use anyway. Haven't really done too much research on the ways to maximize my savings on bank fees... I kinda rationalize that the banks (mostly SG banks) I use are already saving me plenty in taxes and $X in fees to them each month is acceptable. Today's 17 April so decided to test the ATM fee, hit an ATM at Bangkok Bank, Lotus Rangsit Klong 7. Got 35.205 and no "fee" indicated on the receipt. Came home and checked their FX rate on their www site, says 35.17. Checked SCB's rate, 35.16 Also stopped by my local SCB branch at Klong 10, the manager confirmed that the baht 150 rate also applies to SCB but I've not used them for foreign withdrawals since they put in the baht 20 charge. The Thai Banking Association's computers just not up to speed as yet so soon after Songkran? The IT guys & gals still whisky soaked? Mac Link to comment Share on other sites More sharing options...
Chaimai Posted April 17, 2009 Share Posted April 17, 2009 (edited) I can only guess, the Song Kran holiday/demonstrations and then the two additional, unexpected government-declared holiday days Thurs and Fri may have put them off their implementation schedule.... It's not very often that Thai's defer money making schemes. I go along with the Songkran factor. It would be great if the Thanachart website notice was a hoax - but I bet a Pound to a bucket of sh!te that the charge will be in place after the weekend site maintenace runs by the banks. I am now off to take advantage of my last free ATM withdrawal. Edited April 17, 2009 by Chaimai Link to comment Share on other sites More sharing options...
Rob5060 Posted April 17, 2009 Share Posted April 17, 2009 The Bangkok Bank website now carries an announcement of the charge in its news items What is the charge for using a Thai bank card for withdrawals from a Thai account is it 20 bt even at your own branch Link to comment Share on other sites More sharing options...
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