Thai Banks To Start Charging For Atm Withdrawals ...

[thecatman]

A couple of hours ago I withdrawn 50 000,- from Aeon ATM Big C opposite immigration, Chaeng Watthana. First I withdrawn 40 000,-.

Then I went for 10 000 extra. No fee! Exchange rate I don't know.... (the limit from my homeland bank is 60 000.- per 7 days)

Warning: On the deposit slip they print out your credit-card number, from A to Z, I haven't seen this before

Yeah, this has always been the case. Somebody else did mention it on this thread so as to warn all to either keep, or discard your receipt with care.

Changing the subject a little, I've just returned from Super Rich, the money changer opposite Central World (near Big C) and got a rate of 54.50 to the UK pound. I then checked www.xe.com when I got home to find that their current time rate was 54.44.

It seems that if you can bring cash from home into Thailand (all you tourists out there), then that's we way to go.

Edited October 16, 2009 by thecatman

[jgm005]

With AEON having their HQ in the Exchange Tower at Asoke, are you aware of any ATM there? I had emailed them querying that but, as expected. no response.

Sorry JGM, I don't know the answer on that.... But it's near my home, and I've been meaning to stop by sometime to see. Maybe I can soon. Until then, I've been alternating between the basement of Paragon and Carrefour Onnut.

I received a reply from their HQ at Exchange Tower and they said to go to the local branch at Ocean Tower/Soi 19.

[jfchandler]

Thanks for the update JGM... Too bad about that...

The Exchange Tower at Asoke is right there at the Asoke BTS/Sukhumvit MRT stations... whereas (if I remember my geography correct) the Ocean Tower is quite a few blocks up the street on Asoke... Certainly walkable, but not especially convenient if you're starting from Sukhumvit.

[jfchandler]

It's beginning to sound like the reports of AEON going to a fee are probably incorrect.

I certainly hope that's the case. After specifically marketing (via their ATM machine messages) that they're not charging the fee, it would have been a bit strange for them to suddenly do an about-face.

I wouldn't rule out the possibility somewhere in the future of that happening. But based on the current situation, I'd at least home if it comes it will be far off in the future.

[ballzafire]

FWIW, used an AEON machine at Carefooo in Hat Yai today. NO mention of any fee on screen and none showing on the receipt, either.

Spoke with their people at the front desk and they have informed me they also have an ATM at Big C, as well as one more toward the south side of town (as vagabond48 mentioned last night -- thanks again!)

Crossing my fingers they don't get greedy and take a turn to the dark side...

[ballzafire]

Can you provide a list? I've tried their website ( http://www.aeonthailand.com/ ) but all links are bad. I'd really like to know how to find other AEON ATMs in my area (since the one I was using got closed down recently...[big frown] )

Ballzafire, I have previously have prepared and posted an AEON list for Bkk, but I assume that won't help you much... But I did a search of the AEON web site...and found the following result for the Song Khla area... Their web site shows they have two offices in your area, which typically include ATMs.... Their web site also says they have no standalone ATMs in your area. AEON Spot Hat Yai Julladhit Had Yai Plazza 1st Fl., 200 Room No.102,104,106,108,114,116, Niphatuthit 3 Had Yai , Songkhla 90110 (074) 271000 (074) 355297-9 Open : 9.00 Close : 21.00 2 AEON Spot Carrefour Hadyai 677 Carrefour Hadyai Petkaseam Rd., Hadyai , Songkla 90110 (074)469181-2 (074)469-183

And thanks also to you for this, jf. Missed your reply somehow yesterday.

Long Live AEON fee-free ATMs !

[jfchandler]

My pleasure.... glad to help.... Just keep the rest of us apprised if anything's going on...

[Heng]

Not sure if I'd want to risk my cards in an Aeon machine. Have they ever even been upgraded since they were introduced. They look like models from 6-7 years ago.

[ThailandLovr]

Not sure if I'd want to risk my cards in an Aeon machine. Have they ever even been upgraded since they were introduced. They look like models from 6-7 years ago.

EVERYTIME I use my ATM/debit card, anywhere, but especially out of my home country, my blood pressure skips up about 30#. The not-insignificant risk of a swallowed card, unreadable card, incorrect funds dispensed or worse yet NO funds dispensed, or even some problem about funds availability in my account, each and all result in the possibility of dealing with a major hassle. Unfortunately, for reasons I won't go into, this is my best option available now, but I always breathe a sigh of "thank you" relief (for no problems) after each withdrawal!

[jfchandler]

ThailandLovr, I've never had the kind of problems you cite in your post above... but of course, such things can happen.

If using ATMs abroad is a concern for you, perhaps you might consider doing what's been casually called here a "debit card counter withdrawal."

That's where, you take your home country VISA or MC logo debit card, go into pretty much any Thai bank, and tell them you want to withdraw XXXX funds from your home account (an amount not exceeding the daily withdrawal limit on that card). Depending on the bank/branch, they'll either swipe your card thru their card reader, or fill out some withdrawal paperwork, process the transaction and hand you the cash. No fee involved, and should be about the same exchange rate as an ATM.

That approach, if you don't mind dealing with Thai bank tellers, would avoid most of the potential pitfalls you mentioned. By various reports here on TV, however, different Thai banks seem to have quite different limits on withdrawals made using this approach -- unlike pretty standard limits on withdrawals thru ATMs... So your mileage may vary in terms of how much a particular Thai bank will give you per transaction using this method.

[ThailandLovr]

ThailandLovr, I've never had the kind of problems you cite in your post above... but of course, such things can happen.

If using ATMs abroad is a concern for you, perhaps you might consider doing what's been casually called here a "debit card counter withdrawal."

That's where, you take your home country VISA or MC logo debit card, go into pretty much any Thai bank, and tell them you want to withdraw XXXX funds from your home account (an amount not exceeding the daily withdrawal limit on that card). Depending on the bank/branch, they'll either swipe your card thru their card reader, or fill out some withdrawal paperwork, process the transaction and hand you the cash. No fee involved, and should be about the same exchange rate as an ATM.

That approach, if you don't mind dealing with Thai bank tellers, would avoid most of the potential pitfalls you mentioned. By various reports here on TV, however, different Thai banks seem to have quite different limits on withdrawals made using this approach -- unlike pretty standard limits on withdrawals thru ATMs... So your mileage may vary in terms of how much a particular Thai bank will give you per transaction using this method.

Well thank you very much JF. I certainly would have no problems dealing with a Thai banker, especially with my wife being with me. I would only be a little worried the cashier may wonder why I don't just use the ATM but I can prepare my wife to tell her something.

We all appreciate all your efforts in helping us make the best use of our money.

[jfchandler]

Thanks much... ThailandLovr.... I too benefit from what we collectively learn here...same as everyone else..hopefully...

Don't worry too much about the "Why don't you use the ATM instead" issue. You don't need a reason or an excuse to do a counter withdrawal, other than, that you want to. Counter withdrawals are a normal, accepted banking transaction, so you're not doing anything that most Thai bank branches haven't handled before.

Actually, the question that people here on TV have been fretting over more about counter withdrawals is whether/if the Thai banks will try to start assessing a similar 150 baht fee on counter withdrawals using foreign bank cards. So far, they have NOT gone that route... As for the future, who knows...

I should add...of course...you don't need to have an account with the Thai bank where you request a counter withdrawal using your home country bank card, though I suppose having a local account where you do a counter withdrawal couldn't hurt. It's a transaction you are able to do at any Thai bank, so if the local branch of one bank is giving you a hard time for some reason, just go to another location or another bank company instead.

Good luck with that...

[ThailandLovr]

May I ask if in all the feedback you've gotten over the months, does one particular bank seem to stand out above the others for the most favorable exchange rate, or the poorest? Or does there seem to be no difference? I am referring to counter withdrawals, not necessarily ATM.

Edited October 17, 2009 by ThailandLovr

[jfchandler]

To answer your question, I don't think we have received enough clear, reliable feedback here on the exchange rates applied to counter withdrawals in Thailand for me to talk about/recommend any specific Thai bank.

However, what I think I know is this:

In general, the rates of Thai banks for that kind of transaction ought to be pretty similar, because the rate should be set not by the local bank but rather by the VISA or MC network processing the international charge.

There may, however, be some exceptions to that. The best way to know for sure, is to first go to a web site like Xrates.com, and check their daily listing for U.S. $-Thai baht exchange rates. Then, if the counter withdrawal rate you're getting from the Thai bank isn't, say, within a half a baht per dollar of the Xrates rate, look elsewhere. So, in other words, if Xrates says it's 34 baht to the dollar today, you ought to expect to get at least 33.5 baht or better per.

Be advised, though: you also need to keep an eye on your home bank that has issued your debit card.

I was looking at Chase Bank's web site today, and they appear to have a counter withdrawal fee of 3% or $5 of the amount withdrawn, whichever is greater. And then, Chase also charges a 3% foreign currency exchange fee. And while I don't have a Chase account to test this, I saw no indication those two fees are mutually exclusive, meaning they might well charge you both fees to do a counter withdrawal abroad.

If others have more concrete info about whether there are variations between the counter withdrawal exchange rates of different Thai banks, please do chime in...

[jfchandler]

I also noticed that Wells Fargo Bank appears to have a $3 per transaction fee for counter withdrawals at other bank locations.

Wells also has a 3% surcharge on foreign purchases using their bank card. But it's not clear to me whether they also levy a 3% foreign currency charge on ATM withdrawals outside the U.S.

[donx]

My experience with doing a counter withdrawal in Phatthalung was that the first two banks we tried (Bangkok Bank and Krung Thai Bank) both said they didn't do counter withdrawals. The third bank we tried (SCB) did allow it. The limit for us appeared to be the same limit set by our US bank ($500). The exchange rate matched what we get from an ATM, but it takes several days for the withdrawal to post, so if exchange rates are dropping, this is a disadvantage and an advantage if exchange rates are rising. One last interesting thing I noticed about the counter withdrawal is that it showed up as an EFT the same as if a Point of Sale transaction was performed. The difference though is that the normal $0.25 POS fee is not charged and neither was the normal $1.00 ATM fee charged.

Now when we did this, I was using a local bank card that doesn't give the best exchange rate and that charged a $1 ATM fee when I withdrawal funds overseas. I have since changed to using a fee free ATM card from Schwab based upon information I have received in this thread.

[jfchandler]

DonX, I believe that situation with the two banks you mention below is more related to those two particular branches...and not an indication that ALL BKK and KT bank branches will not do counter withdrawals... Certainly, I don't believe we've had reports to that effect here... If anyone else has experience with counter withdrawals at BKKB or KT...please chime in...

My experience with doing a counter withdrawal in Phatthalung was that the first two banks we tried (Bangkok Bank and Krung Thai Bank) both said they didn't do counter withdrawals.

[MaiChai]

Next time the gf draws money I will go and ask her to go and use that Aeon machine in Wang Hin again.

No matter how much they brag on about how well educated they are in LOS, my experience is that your average farang is about 10 times clever than your average Thai, thus it would not be a surprise that the gf has got this wrong. I should know better never to trust a Thai since I have been in LOS a long time, they just don't think like we do...

So I will get her to try it again and report back...

[jfchandler]

Looking forward to your/her report... Just make sure she uses a real AEON ATM....

[MaiChai]

My internet banking says it was an Aeon. Just spoke with her and she requested X from the machine and it gave her X (no deduction). I checked my internet banking and no 150 baht added on. So it may be she misread the message (easily done I would say). She will try it out in the next few days and I will let you know. Then she can give me the money back for using machines that charge 150 baht Its called learning from your mistakes! TiT

Edited October 18, 2009 by MaiChai

[jfchandler]

Thanks for clarifying that....and helping straighten out that AEON ATMs remain fee free...at least for the present.

I think I'll avoid making any comment at all about Thai women and their banking habits...

[parryhandy]

Not sure if I'd want to risk my cards in an Aeon machine. Have they ever even been upgraded since they were introduced. They look like models from 6-7 years ago.

nah course ya wouldn't.......

[vagabond48]

I was looking at Chase Bank's web site today, and they appear to have a counter withdrawal fee of 3% or $5 of the amount withdrawn, whichever is greater. And then, Chase also charges a 3% foreign currency exchange fee. And while I don't have a Chase account to test this, I saw no indication those two fees are mutually exclusive, meaning they might well charge you both fees to do a counter withdrawal abroad.

Good that you brought this up. I have expressed interest in using counter withdrawal even though I have several fee free cards. Although I have never seen any verbiage on this type of debit card transaction, I will give both Schwab and Fidelity a call to find out if any fee exists with them. Since I am a kinda spur of the moment guy, one small drawback to counter withdrawals is having to remember to take my passport.

[jfchandler]

I don't believe Schwab has any counter withdrawal fee on their VISA card...

For additional comment/info on the subject of counter withdrawals and fees, see this post in a related thread....

[donx]

DonX, I believe that situation with the two banks you mention below is more related to those two particular branches...and not an indication that ALL BKK and KT bank branches will not do counter withdrawals... Certainly, I don't believe we've had reports to that effect here... If anyone else has experience with counter withdrawals at BKKB or KT...please chime in...

My experience with doing a counter withdrawal in Phatthalung was that the first two banks we tried (Bangkok Bank and Krung Thai Bank) both said they didn't do counter withdrawals.

I agree that the two banks that refused to do the counter withdrawal had more to do with the particular branch as opposed to being related to what these two banks do network wide. That is also one of the reasons I made sure to state that this happened in Phatthalung. Of the two banks, I was most surprized by Krung Thai Bank's refusal since that is the biggest bank in Muang Phatthalung. I would have assumed that the biggest bank in the province would have performed the transaction. Bangkok Bank, on the other hand, is a small branch. I remember when I brought over a large amount of money for sin sod using traveler's checks, that branch told me I had to go to Hat Yai to exchange all the traveler's checks for cash.

[laps]

Many currency exchange boots have a visa/mastercard sticker on their window. Surely they will accept a withdrawing.

It can be many reasons for not using the atm teller machine,like forgetting the pin or exceeding the atm max cash-limit.

[barhopper]

I wouldn't mind going back to the old days, when you went up to the teller counter with a withdrawal slip, swiped your card and walked away every time with the correct cash (I have been machine short changed twice) and your card in hand with no chance of machine swallowing cards or though it hasn't happened to me yet, for some of us memory challenged folks, walking away without the card.

Well, have you tried his method, and been refused?

Some report that its still acceptable in some banks/exchange booths, while others report the teller pointing to the ATM outside, and dealing with the next person waiting.

And, like has been said on here, it wont be that long until Aeon turn towards the dark side and levy a charge, too. Their ATMs must be taking a hammering and a lot of extra refillings and such.

Penkoprod

Last week in Pattaya, i used a money exchange booth(Kasikorn) withdrawing a Cash advance on my Nationwide Visa Debit Card,just had to show my passport and sign, i did this to avoid the 150 Baht ATM fee if i would have used the machine i would have been charged.For me now this is the way to go,ok still not as convenient(because you have to take your passport out with you) but the odds will be good that your hotel will be within walking distance to a money exchange,so you can get your advance and return to your hotel with your Passport.

[jfchandler]

Good advice for tourist type folks who are staying in hotels in tourist areas....

But be aware, some U.S. banks (I can't speak to the European ones) have begun charging "counter withdrawal" fees to their card holders, when you try to withdraw funds using your bank card at some other bank. Those include Chase (3% or $5, whichever is greater) and Wells Fargo (a fixed $3 charge) Banks.

[thaimate]

Yesterday while in BKK i went to use a GSB machine ,which have been free in Pattaya but it said that 150 baht charge was now in order ,so looks like that route has gone.

[jfchandler]

Thaimate, GSB has gone over to the dark side a couple of weeks ago.... Been living frugally lately???

Look for an AEON ATM... Still no 150 baht fee....