Foriegn Atm Cards

[mrsmith]

hi all, as of april 17,all banks in thailand now charge a fee to use your foreign atm cards.

the fee for transactions are 150 baht. thai citizens are not charged unless they us a atm that is

different from the bank where they have an account; but if they use it at a different atm more than

3 times they are charged 5 baht!!!

[thecatman]

hi all, as of april 17,all banks in thailand now charge a fee to use your foreign atm cards.

the fee for transactions are 150 baht. thai citizens are not charged unless they us a atm that is

different from the bank where they have an account; but if they use it at a different atm more than

3 times they are charged 5 baht!!!

If you had bothered to look, then you would have noticed that here's already an 11 page thread running on this subject so you're a tad late with your news I'm afraid.

http://www.thaivisa.com/forum/Thai-Banks-S...it-t255263.html

Edited April 21, 2009 by thecatman

[thaimate]

hi all, as of april 17,all banks in thailand now charge a fee to use your foreign atm cards.

the fee for transactions are 150 baht. thai citizens are not charged unless they us a atm that is

different from the bank where they have an account; but if they use it at a different atm more than

3 times they are charged 5 baht!!!

oh we are a bit of a slow starter arnt we? better luck next time

[Chaimai]

hi all, as of april 17,all banks in thailand now charge a fee to use your foreign atm cards.

the fee for transactions are 150 baht. thai citizens are not charged unless they us a atm that is

different from the bank where they have an account; but if they use it at a different atm more than

3 times they are charged 5 baht!!!

For the record Thai citizens will get charged if they use a FOREIGN ATM card, as would my dog who is a bit of a mongrel and doesn't have a passport from any country.

While we are dealing with old news, I should report that Quenn Victoria has died and Roger bannister has broken 4 minutes for runnunga mile

[kiakaha]

hi all, as of april 17,all banks in thailand now charge a fee to use your foreign atm cards.

the fee for transactions are 150 baht. thai citizens are not charged unless they us a atm that is

different from the bank where they have an account; but if they use it at a different atm more than

3 times they are charged 5 baht!!!

the fees have nothing to do with the card holders nationality.

foreign debit and credit cards will attract the 150 baht fee.

local debit and credit cards wont attract the fee.

this will obviously annoy tourists , but foreigners who live here, for the most part, will have bank accounts in thailand, and therefore local debit/credit cards.

[Gary A]

A friend of mine made a 20,000 baht transaction with a US Citibank atm card ($570 US). The total fee was 770 baht. ($22). A ridiculous fee.

[lopburi3]

If would be more helpful to see a breakdown of that 770 baht fee(s).

[JR Texas]

hi all, as of april 17,all banks in thailand now charge a fee to use your foreign atm cards.

the fee for transactions are 150 baht. thai citizens are not charged unless they us a atm that is

different from the bank where they have an account; but if they use it at a different atm more than

3 times they are charged 5 baht!!!

the fees have nothing to do with the card holders nationality.

foreign debit and credit cards will attract the 150 baht fee.

local debit and credit cards wont attract the fee.

this will obviously annoy tourists , but foreigners who live here, for the most part, will have bank accounts in thailand, and therefore local debit/credit cards.

Nothing to do with nationality? OK, then it makes sense, from an economic perspective, for Thai banks to apply that fee for all ATM transactions for all cardholders--foreign and domestic.

The fact is that the fee is targeting foreigners, not Thais. It is way beyond anything that is reasonable, especially given that computers do the work and it actually cost the banks virtually nothing for these transactions.

By the way, if they start charging Thais the same fee, the "bend over and take it experiment" will end abruptly.

[JimGant]

Except for 'permanent' tourists, the other kind won't change their habits much based on having to pay 150bt each for only one or two hits at the ATM machine. And except for the truly travel savvy, most tourists already have ATM cards that have fixed fees at the issuing end, plus 2-3% tacked on to the 1% foreign transaction fee. Thus, at 4% plus, they're already paying at least 1000bt to get 25000bt. But, they didn't run out and change banks just for the occasional holiday abroad. Besides, the ease of an ATM machine sure beats having to get travellers checks, stand in line in a foreign bank lobby, and then try to make yourself understood by someone who keeps calling you a 'cop.'

And for those of us who live here, it's time to start using that Thai bank ATM card again (the Thai bankers said, with a knowing grin, visualizing all those new transfers in....). I sure will, as this whole discussion had me re-look my spreadsheet numbers:

-- My USAA Federal Savings ATM card supposedly only passes on the 1% foreign transaction fee. However, the numbers say I have been paying 1.3% off the TT rate -- and 1.6% off the Interbank Exchange Rate. So, even tho they reimburse ATM owner fees, like the 150bt, I'm still paying too much.

-- I used to SWIFT large chunks twice a year to my Bangkok Bank account to better amortize the $35 wire fees over large amounts. However, I stopped doing this a year ago as the baht headed down -- and parking money here had a distinct foreign exchange risk.

-- I recently signed up with USAA to enable EFT/ACH of funds to my Bangkok Bank account via their branch in New York. Last Wednesday night I sent $8000 -- and it was in my account 41 hours later. Yeah, SWIFT is swifter -- but I can live with 41 hours. Plus, USAA charges nothing; BB New York charges $10; and my BB account here, 500bt. So my cost was only .3% off the TT rate -- or 1% better than using my USAA ATM card here.

-- If I go through $50,000/yr here, that's a savings of $500. Real money.

-- I guess I could get an E*trade or Capitol One card. But I bet the future of savings on transfers is with ACH/EFT, as all cards seem to be sneaking in new fees.

All this discussion on 150bt fees is gonna save me some money!

[Gary A]

If would be more helpful to see a breakdown of that 770 baht fee(s).

A three percent currency exchange fee from US Citibank plus $1.50 then a 150 baht Thai bank charge.

[Naam]

Nothing to do with nationality? OK, then it makes sense, from an economic perspective, for Thai banks to apply that fee for all ATM transactions for all cardholders--foreign and domestic.

The fact is that the fee is targeting foreigners, not Thais. It is way beyond anything that is reasonable, especially given that computers do the work and it actually cost the banks virtually nothing for these transactions.

By the way, if they start charging Thais the same fee, the "bend over and take it experiment" will end abruptly.

true! computers are delivered free of charge and the software is thrown in, they don't depreciate, need no maintenance and their lifespan is infinite. participation in a global network with leased phone lines and satellite connections 24/7 doesn't cost money either. ATMs service and repair themselves for free and the same applies for filling them up with cash.