Thai Banks To Start Charging For Atm Withdrawals ...

[jfchandler]

I'm sure I've said this here several times before.... but maybe you didn't catch it...

Take your U.S. debit card and head for the nearest Government Savings Bank (VISA-logo cards only) or AEON (VISA or MC) ATM located throughout Thailand. Use your U.S. debit card to withdraw your U.S. funds from your U.S. bank account and receive Thai baht from the GSB or AEON ATM. No fee from the Thai ATM. Try to find a U.S. bank/card that doesn't charge you heavy fees for using their card outside the U.S. and doesn't nick your exchange rate.

PS - In another thread here lately, a TV member has reported that AEON ATMs will dispense up to 40,000 baht per transaction -- provided the amount you're seeking doesn't exceed the daily ATM limit set by your home bank.

I don't do wire transfers, I don't do counter withdrawals. But if I ever needed to access a large amount of funds in a single transaction, I'd ACH the funds to BKK Bank in New York and have them sent onward to my BKK Bank account here.

Regarding your question, you don't need a work permit to open a BKK Bank savings account. However, using their New York system works more easily if you have access to their online banking. They may require a work permit for adding online banking these days, but most often, that can vary by branch and whom you end up talking with. Technically, though, I believe one could still use the New York method even without access to BKK Bank online banking by simply instead dealing with them via telephone.

Re your other question, don't even ask about trying to cash U.S.-issued checks inside Thailand. That's a barren field to plow.

Since you've had some experience with what I'm doing, was curious how you're personally getting money. I've read the options, including wire transfers, interbank exchange with Bangkok Bank, and cashing checks.

With the accts I have in States now, the fees for wire transfers start at $25-$45. So unless I'm wiring upwards of 4k, this isn't going to be very cheap. The Bangkok Bank thing, where you transfer to their NY location with no fee and Bangkok Bank charges you 500 Baht to get it here, sounded reasonable. But do I need a work permit to open an account with Bangkok Bank? I have an account with Kasikorn, but I only have a non-Imm O. Cashing checks doesn't seem practical.

Which are you using and what does it end up in fees? Getting BofA to waive fees, I was actually getting my money at face value. This was probably to good to expect it to last.

[jfchandler]

A couple of very good pieces of news to report here....

1. A bit of detail about the Government Savings Bank Branch across from Central World and just next-door to the Police General Hospital. It's located just about halfway between the Chidlom and Siam BTS Stations, which are connected by an overhead Skybridge walkway. To go to the bank, just get off at either BTS Station on the Sukhumvit line, and walk toward the other station on the sky walkway.

The bank's location is just between the two skyway exits that lead into Central World. On the opposite side of the sky walkway, there is a single set of stairs that leads down to the police hospital. Go down those stairs and the bank is a short half-block away. When finished, hop back up the stairs and head back to either BTS station, or go the opposite way into Central World for a bit to eat or drink. Photo of the branch below...

2. Even better, it turns out, there is an AEON ATM located in the basement of Siam Paragon. I had heard there was, and went today to check out where I'd heard it might be... And sure enough, it was there. To find it, go down to the food/market level and locate The Ninth Cafe Eatery (pictured below). Right there, there is an escalator down to the "B" level. You can spot the AEON ATM (pictured below) there right in front of you as you come down the escalator. Easy easy...

[alphason]

GSB not working today at two different locations in Phuket - "communication error", depite this I watched 3 persons withdraw cash with local cards.

AEON working ok today, NO FEE, 54.42 Baht to GBP pre authorised on my account.

Using UK Nationwide Flexaccount Visa Debit.

[SurfRider]

"GSB not working today at two different locations in Phuket - "communication error", depite this I watched 3 persons withdraw cash with local cards."

This message has been reported with GSB many times during the life of this thread. My guess is that it's an "erroneous" error message, or a "catch-all" error message.

In other words, it's rejecting your card for some specific reason, but hasn't got the "words" to to explain why

.

[jfchandler]

For BKK folks, I was out in the Silom area today, and can confirm the presence of two AEON (which Thais seem to pronounce "E-on") ATMs nearby...

1. on the second floor of the Silom Complex/Central Department store building that is attached to the Saladaeng BTS Station. Not on the ground floor as I believe the AEON web site indicates. Just go in the second floor entrance from BTS and guide around to your right. The AEON ATMs is just around the first corner to your left along the aisle.

2. on the fourth floor of the CP Tower Building, just a bit further up Silom Road just beyond its intersection with Soi Convent and just past the California WOW fitness center there. The AEON ATM there is located outside/with an AEON branch office that is in the far rear, left corner of the building. Close to Patpong and a short walk from Saladaeng BTS.

[andyc2006]

Stickman reported in his blog tonight that GSB is now charging the 150 baht fee... can anybody confirm? I was surprised to see it there before here.

A reader reports that AeonThailand does not charge the ATM fee. They even have a notice on their ATMs saying that they do not charge the fee like other banks do! It seems that the non-Thai banks don't charge i.e. UBS, HSBC and Citibank whereas all of the locally Thai-owned banks do. Funny that.

[jfchandler]

That's news to me... But I've only happened to use AEON ATMs the past few days....

[Lancelot]

Stickman reported in his blog tonight that GSB is now charging the 150 baht fee... can anybody confirm? I was surprised to see it there before here.

Yes, I read that as well. My last ATM withdrawl from GSB was on Sep 16-no fee

[wimpy]

That's news to me... But I've only happened to use AEON ATMs the past few days....

I used the GSB ATM at Carrefour (Chiang Mai) today. No fee.

[jfchandler]

Some additional news about fee-free ATMs at Victory Monument...

There are at least two options there, I discovered yesterday:

1. There's a Government Savings Bank branch and ATM there, right around the corner from the Top's Market. Sort of near the northwest corner of Phahon Yothin and Ratchawithi Roads...

2. Then, to my surprise, I came across a solo AEON ATM there on one of the corners, located en bank with a couple of other solo ATMs belonging to other Thai banks. I believe it was on the south-west corner, across from the hospital, and near all those street/sidwalk shopping booths.

[jfchandler]

Some additional news about fee-free ATMs at Victory Monument...

There are at least two options there, I discovered yesterday:

1. There's a Government Savings Bank branch and ATM there, right around the corner from the Top's Market. Sort of near the northwest corner of Phahon Yothin and Ratchawithi Roads...

2. Then, to my surprise, I came across a solo AEON ATM there on one of the corners, located en bank with a couple of other solo ATMs belonging to other Thai banks. I believe it was on the south-west corner, across from the hospital, and near all those street/sidwalk shopping booths.

[jfchandler]

Someone reported earlier that a Stickman column claimed GSB had begun charging ATM fees.

I believe that report is false. I went to a GSB ATM in BKK today, and made a withdrawal, fee free, same as always.

GSB ATM video screens continue to have some message saying that an interregional fee will be charged. But they've had that message since before the beginning of the 150 baht ripoff. And they're still not charging the 150 baht fee, or any other. And the exchange rate is normal.

[johng]

Some one on here wanted to know about success stories doing over the counter cash withdrawal

using an ATM card.

On the 12th september I went into the Tuk Com ( Pattaya ) branch of Siam Comercial Bank

and asked if I could "swipe" my card ( yes ) and if there would be any charges ( no )

so I ask for 80,000 baht the teller takes my card ( Nationwide Visa Debit ) and passport.

I sign 2 bits of paper.... 5 minutes later I'm holding the cash.

On arriving home I check my bank account online to find the transaction has not been processed yet.

I checked online again today and see.

15-Sep.-09 Cash SCB.Tukcom Pattaya Sub BR CHONBURI TH 80,000.00THB at 55.775. £ 1434.31

so it took 4 days ( 2 weekend days ) for the transaction to go through...in the meantime the exchange rate worsened a bit

12-Sep.-09 Cash Bay/Com Building Pattaya CHOLBURI TH 1,000.00THB at 55.991. £17.86

We can see from these 2 transactions that,

1. doing a "cash advance" as SCB calls it incurs no charge from them,

the 0.85% Visa charge is passed on as usuall by Nationwide though.

2. Ayudthaya ATM's are still fee free ( well for Nationwide cards at least )

3. The pound is sliding again.

[barhopper]

Some one on here wanted to know about success stories doing over the counter cash withdrawal

using an ATM card.

On the 12th september I went into the Tuk Com ( Pattaya ) branch of Siam Comercial Bank

and asked if I could "swipe" my card ( yes ) and if there would be any charges ( no )

so I ask for 80,000 baht the teller takes my card ( Nationwide Visa Debit ) and passport.

I sign 2 bits of paper.... 5 minutes later I'm holding the cash.

On arriving home I check my bank account online to find the transaction has not been processed yet.

I checked online again today and see.

15-Sep.-09 Cash SCB.Tukcom Pattaya Sub BR CHONBURI TH 80,000.00THB at 55.775. £ 1434.31

so it took 4 days ( 2 weekend days ) for the transaction to go through...in the meantime the exchange rate worsened a bit

12-Sep.-09 Cash Bay/Com Building Pattaya CHOLBURI TH 1,000.00THB at 55.991. £17.86

We can see from these 2 transactions that,

1. doing a "cash advance" as SCB calls it incurs no charge from them,

the 0.85% Visa charge is passed on as usuall by Nationwide though.

2. Ayudthaya ATM's are still fee free ( well for Nationwide cards at least )

3. The pound is sliding again.

Thanks for that update John,much appreciated.

[SurfRider]

"Stickman reported in his blog tonight that GSB is now charging the 150 baht fee"

GSB ATM Pattaya TutCom IT Center Sept. 23 -- No 150 Baht Thai Usury Fee -- Exchange rate: 33.5497 Baht/US$ -- X-Rates 33.6177

Not a great rate, but about a 40 Baht hit on the spread between GSB and X-Rates on a 20K transaction.

( Maybe Stickman should stick to reviewing go-go bars and leave the ATM reviews to us Street Walkers . . )

.

[vagabond48]

"Stickman reported in his blog tonight that GSB is now charging the 150 baht fee"

GSB ATM Pattaya TutCom IT Center Sept. 23 -- No 150 Baht Thai Usury Fee -- Exchange rate: 33.5497 Baht/US$ -- X-Rates 33.6177

( Maybe Stickman should stick to reviewing go-go bars and leave the ATM reviews to us Street Walkers . . )

.

I haven't been on his site for years. I always thought most of stuff there was fiction anyway.

[jfchandler]

Just came back from shopping at the Big C Radjadamri store...across from Central World..

An AEON ATM is located there as reported...and working fee-free in fine condition.

Location is the far back of the store on the first floor, just before entering the parking structure area, next to a DTAC shop.

[SurfRider]

Interesting comment from an interview with a film maker that is somewhat appropriate to this thread and the 150 Baht Thai ATM Usury fee:

"How come I've got to pay $2.50 every time I go to the ATM machine? . . . It's like $5. If I want to take out $20 . . . you're taking $5 from me. What's that all about?" . . . There used to be things called banks and tellers . . .where you walked in. It didn't cost you any money to get your own money."

http://www.youtube.com/watch?v=NqRvpBqEgCE...ature=topvideos

.

Edited September 27, 2009 by SurfRider

[OriginalPoster]

Some one on here wanted to know about success stories doing over the counter cash withdrawal

using an ATM card.

On the 12th september I went into the Tuk Com ( Pattaya ) branch of Siam Comercial Bank

and asked if I could "swipe" my card ( yes ) and if there would be any charges ( no )

so I ask for 80,000 baht the teller takes my card ( Nationwide Visa Debit ) and passport.

I sign 2 bits of paper.... 5 minutes later I'm holding the cash.

On arriving home I check my bank account online to find the transaction has not been processed yet.

I checked online again today and see.

15-Sep.-09 Cash SCB.Tukcom Pattaya Sub BR CHONBURI TH 80,000.00THB at 55.775. £ 1434.31

so it took 4 days ( 2 weekend days ) for the transaction to go through...in the meantime the exchange rate worsened a bit

12-Sep.-09 Cash Bay/Com Building Pattaya CHOLBURI TH 1,000.00THB at 55.991. £17.86

We can see from these 2 transactions that,

1. doing a "cash advance" as SCB calls it incurs no charge from them,

the 0.85% Visa charge is passed on as usuall by Nationwide though.

2. Ayudthaya ATM's are still fee free ( well for Nationwide cards at least )

3. The pound is sliding again.

I tried my Fidelity (US) ATM card both ways and I'm not quite sure if I came out ahead with the teller or not. Using an ATM machine on September 24, I withdrew 16000 baht and US$481.80 was deducted by my account by Fidelity, making the effecting exchange rate (including the 150 baht fee that was indicated on the ATM receipt) 33.21 Baht/USD. Then on September 27, I went to a Kaisikorn bank teller window, handed them my ATM card and withdrew another 16000 baht. That time no 150 baht fee was noted on the bank records, and the amount charged to my accout turned out to be US$475.84, making the effective rate 33.62 Baht/USD. However in that same period of time the Interbank exhange rate indicated on oanda when from 33.70 to 34.08, so both the trransactions were about the same amount below the published Interbank rate. Both transactions were credited to my account in the US within the same day that the money was withdrawn (the ATM transaction was online immediately; the bank teller transaction took a few hours to show up).

Edited September 28, 2009 by OriginalPoster

[vagabond48]

I tried my Fidelity (US) ATM card both ways and I'm not quite sure if I came out ahead with the teller or not. Using an ATM machine on September 24, I withdrew 16000 baht and US$481.80 was deducted by my account by Fidelity, making the effecting exchange rate (including the 150 baht fee that was indicated on the ATM receipt) 33.21 Baht/USD.

Btw, you can call and request the 150baht back from Fidelity. They have had a history of not including my overseas ATM fees in their online statements and therefore not refunding the fee. Maybe they have corrected this as Schwab has. Your effective rate of 16,150baht was 33.52 so you can request $4.47. The IER for that day was 33.5448.

Edited September 28, 2009 by vagabond48

[bkkflyer]

Took out 40K in one withdrawal from AEON yesterday. No THB150 fee.

[jfchandler]

The question had been asked here previously about whether Suvarnabhumi Airport might have either a GSB or AEON ATM, meaning you could obtain money there without paying the 150 baht ATM fee.

On a recent trip thru, I asked AOT customer service and a couple other places there, and the answer was NO... No GSB or AEON at the airport...

[Pooklook]

This is a screenshot from the AEON ATM. Interesting that they address the concerns of the

customer. Happy to support them for making a public statement and not following the crowd.

[wimpy]

I withdrew funds at a GSB ATM today. Still no fee, but there was a new notice posted next to the ATM. It was written in Thai and made some references to ATM and visa cards. People were waiting to use the ATM, so I couldn't put my slow Thai reading skills to good use. Hope it isn't bad news.

[vagabond48]

Well, I guess the honeymoon with GSB is over, at least at the branch on Thapae road approaching Thapae gate in CM. I got the dreaded message for the 150 baht ATM fee. At first, I thought it was a glitch because I was using a new replacement card I just received which had to be authenticated at the machine, so I tried my other Fidelity DC and got the same message. I answered "no way" for now. I'll try another branch just out of curiosity. I guess I'll begin using AEON.

[wimpy]

I tried the GSB at Nong Hoi today and it wouldn't work at all for me. A Thai used it just before me without difficulty. The notice that was posted, that I mentioned earlier, says something about upgrading the system.

[vagabond48]

I went to another GSB branch and sure enough, 150baht fee is in effect there too. I decided I will take out some money after all, since it's the weekend. I used my fee free Fidelity ATM card, so I will get the 150baht back. Next week, I'll check out the AEON ATM machine at CM International Airport. The one at Airport Central Plaza is situated in a not so well lit, out of the way corner. My paranoia says to avoid using it.

[jfchandler]

I did a GSB ATM withdrawal yesterday (Thursday) in BKK and got no fee...same as always...

But...I haven't tried them today (Friday)...

[jgm005]

Yes, The GSB honeymoon is over. Yesterday, 01/October there was no fee. Today, 02/October the fee is showing up. In the a.m. of today the local GSB ATM would not work for a foreign card but later on it did and the fee showed up. The ATMs where in Nongbulampoo and Nonsang respectfully.

[vagabond48]

Now that Aeon is currently the only firm offering no fee withdrawals. I trying to decide whether I will use them or not, since I do have Fidelity and Schwab fee free ATM cards.

So far, 99% of the times, I have used ATM machine at bank branches during banking hours, just in case I get short changed, which happened to me twice, or the machine swallowing my card, which luckily has not happened yet.

I have only seen 1 stand alone Aeon machine, I am going to assume the 3 other locations in Chiang Mai are also stand alone machines.

I check their web site for possible office locations but did not see any.

Does Aeon have an office in CM or are you stuck having to deal only with a phone rep who may or may not speak English?

I could continue to withdraw an average of 2k using Aeon or increase my withdrawal amount significantly, and use my fee free cards.

Anyone want to share their thoughts about Aeon?