150 Baht Atm Withdrawl Fee.. Does It Matter?

[yaketyak]

I seemed to have got embroiled in a discussion about this new ATM charge of 150 baht per time on another forum and we agreed to take it here instead.

My view on this is that it is a pretty insignificant charge and that i truly believe most people's objections are not that the charge is 150 baht but that there is a charge at all. They just don't want to pay for the service at all because it used to be free.

As an ex banker i can see that its fair there should be a charge (after all its a service allowing you to withdraw cash in another country ) and i think we have all been lucky that up to now its been free.

My advice on the other forum was that if people refrained from getting trivial sums out almost daily but instead got out the maximum they can in one go , then this charge would surely seem insignificant each month. This seemed to provoke hysteria amounst the "carry no cash with me " brigade . I have no idea (someone enlighten me ?) why people walk around both in the UK and foreigners in Thailand with next to no money on them. I always have a wallet stuffed with cash (not arrogance BTW just a fact) and credit cards which despite having them i almost never use. I am constantly amazed how people will queue for ages at an ATM and then get out just £10. Why not get out £500 and be done with it?

One poster who was sputing venom at these charges then went on to say he goes to the ATM (in thailand) almost everyday . I mean ... words fail me .

So my simple solution is ... get as much money as you can out of the ATM in one go and then you will minimise these charges to the point where they don't matter. Alternativally go into the branch and withdraw the cash .. no charge at all usually.

The only people who really suffer (if thats the right word for a trivial 150 baht charge ) in all this is those stubborn people who HAVE to go to the ATM daily and won't change their ways . But then its like those who live their lives on credit cards and don't pay back the full balance at the end of the month. They also get charged a lot but will they change ? ...never. Almost all bank charges are avoidable (i don't pay any and i'm sure millions of others are in the same boat) , not because i don't spend any money .. far from it .. but because i know how the stystem works and avoid doing what costs. Simple really.

[kiakaha]

most citizens and foreign residents here will have local debit/credit cards. no charges.

tourists might use the ATM a couple of times before they go home, a minor charge relative to the overall cost of their holiday.

[thaimate]

answer to the question is yes it does matter ,20 baht would have been aceptable 150 baht here is a rip off,amazing Thailand ,no wonder tourists are staying away in droves ,just another nail in the coffin by those in charge.

[pattaya_girl]

Some people fear of drawing large amounts out in case they are robbed, but from now on my plan is to withdraw every 2 weeks instead of every week.

[pattaya_girl]

answer to the question is yes it does matter ,20 baht would have been aceptable 150 baht here is a rip off,amazing Thailand ,no wonder tourists are staying away in droves ,just another nail in the coffin by those in charge.

Yes it is a Rip-off, I agree with Thaimate.

[Eff1n2ret]

Regular visitors to Thailand can minimise charges by opening a simple passbook account + ATM card with a Thai Bank and transferring whatever amount they need via an internet bank such as Moneybookers. It's free to upload to Moneybookers online from your UK bank, and the charge to send on to your Thai bank is only about 3 quid per £1000. It goes through in 4 - 5 days. Then you can withdraw daily if you want at 10baht a time (Bangkok Bank) if you're not using the branch where you hold the account.

I've been doing it this way for over 3 years. Obviously you have to have the dosh up front, unless you want to make further transfers while you're on holiday, and you can't transfer the money back out the same way.

[jfchandler]

I'm happy the OP likes to carry around "wads" of cash in his wallet. I prefer to carry small amounts and then replenish at a local ATM every couple days...and to keep the bulk of my funds in U.S. insured banks, alongside my Thai bank accounts.

150 baht to use the ATMs here is a rip-off. At least for now, I'm glad that Kasikorn Bank, Government Savings Bank and some others haven't implemented the fee.

As an ex-banker, maybe the OP can remember when ATMs first came out and banks encouraged/pushed customers to use ATMs INSTEAD of going into branches because, of course, ATM transactions are much cheaper for a bank to process than teller-based ones.

By adopting the 150 baht fee, the Thai Bankers Assn. was obviously trying to generate more revenue for the banks. Instead, what they're doing is pushing angry ex-pat customers away from the charging banks to non-fee alternatives or pushing those same customers to switch to in-branch transactions that don't currently have that fee.

The whole thing makes no practical sense.

[Priceless]

answer to the question is yes it does matter ,20 baht would have been aceptable 150 baht here is a rip off,amazing Thailand ,no wonder tourists are staying away in droves ,just another nail in the coffin by those in charge.

A little bit of perspective:

- 20 baht is what (most) Thai banks charge you for using one of their own ATMs outside of the province where your ATM card was issued.

- ~150 baht is what my home country bank will charge me for using my ATM card abroad (outside the EU). And they don't even have to operate the ATM

- ~170 baht is what my home country bank will charge me for an electronic (internet banking) transfer of any amount up to ~430,000 baht into my Thai account.

- 0 baht is what my Thai bank charges me for any ATM withdrawal of up to 20,000 baht as long as I'm within my home province.

If you're on a two week holiday here, I think you can probably afford the 150 baht fee. Several friends of mine, who regularly holiday in Thailand, have set up local accounts here and transfer money before they leave for their holidays. If you live here, all it takes is a little bit of planning.

I agree with the basic premise that everything should be free. Unfortunately banks, just like lunches, are not

/ Priceless

Edited April 29, 2009 by Priceless

[imaneggspurt]

answer to the question is yes it does matter ,20 baht would have been aceptable 150 baht here is a rip off,amazing Thailand ,no wonder tourists are staying away in droves ,just another nail in the coffin by those in charge.

A little bit of perspective:

- 20 baht is what (most) Thai banks charge you for using one of their own ATMs outside of the province where your ATM card was issued.

- ~150 baht is what my home country bank will charge me for using my ATM card abroad (outside the EU). And they don't even have to operate the ATM

- ~170 baht is what my home country bank will charge me for an electronic (internet banking) transfer of any amount up to ~430,000 baht into my Thai account.

- 0 baht is what my Thai bank charges me for any ATM withdrawal of up to 20,000 baht as long as I'm within my home province.

If you're on a two week holiday here, I think you can probably afford the 150 baht fee. Several friends of mine, who regularly holiday in Thailand, have set up local accounts here and transfer money before they leave for their holidays. If you live here, all it takes is a little bit of planning.

I agree with the basic premise that everything should be free. Unfortunately banks, just like lunches, are not

/ Priceless

I think the ones that are kicking up are the ones that are drawing their 10 pounds a day to live on and see the 150 baht as 3 beers they cant have, its not rocket science to go less often and draw more is it ?

[hhgz]

"By adopting the 150 baht fee, the Thai Bankers Assn. was obviously trying to generate more revenue for the banks...The whole thing makes no practical sense."

Of course it does, and you mentioned it in your very first sentence: the fee is to generate more revenue for the banks. With an average of 20,000 affected transactions per day, it's an extra 3 million THB/day

[Oberkommando]

I think the ones that are kicking up are the ones that are drawing their 10 pounds a day to live on and see the 150 baht as 3 beers they cant have, its not rocket science to go less often and draw more is it ?

I withdraw 20,000 to 30,000thb per transaction depending on machine and do it 20 times a month on average.

So I have to pay an additional 3,000thb+++ in addition to my issuing bank charges now just to bring money into this country using the most convenient method for me.

Thailand is getting too greedy and is biting the hand that feeds it.

Instead of changing my convenient method, I will end up spending less here, and not tipping for any service including restaurants and bars to recoup this fee.

Your loss again Thailand.

[imaneggspurt]

I think the ones that are kicking up are the ones that are drawing their 10 pounds a day to live on and see the 150 baht as 3 beers they cant have, its not rocket science to go less often and draw more is it ?

I withdraw 20,000 to 30,000thb per transaction depending on machine and do it 20 times a month on average.

So I have to pay an additional 3,000thb+++ in addition to my issuing bank charges now just to bring money into this country using the most convenient method for me.

Thailand is getting too greedy and is biting the hand that feeds it.

Instead of changing my convenient method, I will end up spending less here, and not tipping for any service including restaurants and bars to recoup this fee.

Your loss again Thailand.

wont you be better off going to the window type offices with your passport, there is no daily limit that way, for large frequent amounts thats what i do,.

[jfchandler]

It won't generate more revenue for the fee-charging banks if their expat customers, including myself, cease being their customers and move our business to non-fee banks, or use non-ATM alternatives such as in-branch transactions that actually will end up costing those banks more.

But more broadly, these kinds of moves do indeed contribute to an anti-tourist, anti-foreigner impression in the country that is just about the last thing it needs right now. The Thai Bankers Assn. couldn't have been worse in their timing.

"By adopting the 150 baht fee, the Thai Bankers Assn. was obviously trying to generate more revenue for the banks...The whole thing makes no practical sense."

Of course it does, and you mentioned it in your very first sentence: the fee is to generate more revenue for the banks. With an average of 20,000 affected transactions per day, it's an extra 3 million THB/day

[yaketyak]

It won't generate more revenue for the fee-charging banks if their expat customers, including myself, cease being their customers and move our business to non-fee banks, or use non-ATM alternatives such as in-branch transactions that actually will end up costing those banks more.

But more broadly, these kinds of moves do indeed contribute to an anti-tourist, anti-foreigner impression in the country that is just about the last thing it needs right now. The Thai Bankers Assn. couldn't have been worse in their timing.

"By adopting the 150 baht fee, the Thai Bankers Assn. was obviously trying to generate more revenue for the banks...The whole thing makes no practical sense."

Of course it does, and you mentioned it in your very first sentence: the fee is to generate more revenue for the banks. With an average of 20,000 affected transactions per day, it's an extra 3 million THB/day

Yes you are right in some of your thinking here but don't you think that you and others who obviously frequently use the ATM's are making too much of this.? To think about changing your bank over a 150 baht fee is a little extreme . Imanegspurt has got it right .. just use the in branch facilities especially if you are a frequent user of ATM's.

There are so many ways to avoid paying at all if thats so important , but they do require some effort on each persons part.

Obercommando , i'm sure anyone reading this would love to have a clue as to why you need so much money virtually every day. I'm not expecting you to reveal too much personal detail , but it is a huge sum you are spending , just a hint as to how would be of interest to us all i'm sure. I spend around 4-5000 baht a day for half the month on average (but some days almost nothing ) and i have always thought i was a big spender but you are something else.

[Oberkommando]

wont you be better off going to the window type offices with your passport, there is no daily limit that way, for large frequent amounts thats what i do,.

Would if I could but there's none around where I live.

I'd need to go to a bank and they have inconvenient opening times for a night owl like me.

Do they even accept Cirrus/Plus/Maestro over the counter?

[Oberkommando]

Obercommando , i'm sure anyone reading this would love to have a clue as to why you need so much money virtually every day. I'm not expecting you to reveal too much personal detail , but it is a huge sum you are spending , just a hint as to how would be of interest to us all i'm sure. I spend around 4-5000 baht a day for half the month on average (but some days almost nothing ) and i have always thought i was a big spender but you are something else.

I have a couple of cars, and some other stuff I am paying for on a monthly basis, as well as some business expenses, which makes up the most of it.

I'm earning more than I spend, and the business expenses are obviously recouped with profits.

[Jingthing]

Personally, I think going instantly from zero to 150 baht is outrageous. Typical Thai bad PR. No tact whatsoever. I think there would have been much less negative reaction over a 100 baht charge and hardly a peep over a 50 baht charge. If they are going to charge, 20 baht is not realistic though.

[Penkoprod]

wont you be better off going to the window type offices with your passport, there is no daily limit that way, for large frequent amounts thats what i do,.

Reading other threads here and elsewhere on this very same subject, you might like to compare the rate you get by using the over the counter method, against forking out the 150 Baht from the ATMs

Most are saying the rate for OTC is 1-2 Baht LOWER that on ATMs

Penkoprod

[Nowhereman60]

A lot of people living here are on fix incomes and to me it is a big deal and 150 is a lot. What other transaction in a Thai bank cost 150 baht for the withdrawal of 20,000 baht. I doubt you will find any. You may be well off, but others are not.

[Chaimai]

Jingthing hit the nail on the head with the relative iniquitousness of it all. 150 baht is disproportionate and unfair. 20/30 Baht could be regarded as fair.

If I suffered the charge for every ATM withdrawal that I make, it would cost me 37,500 baht p.a. - that is nearly 2 flights or the GF's housekeeping/pocket money for 15 weeks OR a year and a quarter's rent. THAT puts it in perspective !

[sanmiguel]

Visa or Mastercard is what a major share of the fee you get charged by your bank in the UK or wherever youre from, in no other country in thw world that ive been to and that is a lot do they make this rip off charge.

Also this is a cartel of banks ganging up on tourists to rip us off, surely cartels are illegal even in this developing country, no free trade here.

I think EU and US nations should start putting huge tarriffs on all Thai (and Chinese/Indian) made goods as they do to us, as this will affect their economies greatly thus devaluing their currencies, then the affect of 150bht will be minimal.

Edited April 29, 2009 by sanmiguel

[Huey]

150 Baht on every ATM transaction Trivial? Thats $4.20+ times every offshore withdraw they are making a MINT with the millions of Tourists here each year and the local expats as well. A mint that we as customers gain no addintional benifit from.

[Jingthing]

Have ALL the Thai banks done this? All 150 baht? Some kind of corrupt business conspiracy if so, don't you think? If they did this they agreed not to undercut each other. Smells bad, yes? For example, one bank could charge 75 baht and word would get out and most people would use them, stealing all the rip off fees from the other banks.

[roamer]

I think the ones that are kicking up are the ones that are drawing their 10 pounds a day to live on and see the 150 baht as 3 beers they cant have, its not rocket science to go less often and draw more is it ?

I withdraw 20,000 to 30,000thb per transaction depending on machine and do it 20 times a month on average.

So I have to pay an additional 3,000thb+++ in addition to my issuing bank charges now just to bring money into this country using the most convenient method for me.

Thailand is getting too greedy and is biting the hand that feeds it.

Instead of changing my convenient method, I will end up spending less here, and not tipping for any service including restaurants and bars to recoup this fee.

Your loss again Thailand.

So I read this as your blaming the fatcat bankers but punishing those who live on their tips ? A warped sense of values indeed.

[Kitsch22]

It won't generate more revenue for the fee-charging banks if their expat customers, including myself, cease being their customers and move our business to non-fee banks, or use non-ATM alternatives such as in-branch transactions that actually will end up costing those banks more.

But more broadly, these kinds of moves do indeed contribute to an anti-tourist, anti-foreigner impression in the country that is just about the last thing it needs right now. The Thai Bankers Assn. couldn't have been worse in their timing.

"By adopting the 150 baht fee, the Thai Bankers Assn. was obviously trying to generate more revenue for the banks...The whole thing makes no practical sense."

Of course it does, and you mentioned it in your very first sentence: the fee is to generate more revenue for the banks. With an average of 20,000 affected transactions per day, it's an extra 3 million THB/day

While the sentiments expressed above seem superficially sensible, I am not sure that they will work that way in practice.

I already have an ATM cash card for use in connection with one of my Kasikorn Bank accounts. I also have a Nationwide Flex Account cash card which I have been in the habit of using at any local machine accepting Cirrus cards. Very frequently that has been a machine belonging to or operated by Bangkok Bank. The result of the new charge has been that I have opened a new (additional) account at Bangkok Bank so as to gain one of their ATM cash cards (which I have not previously held) and have dumped a few tens of thousands of Baht in that new account by way of a working float.

So, although my regard for Kasikorn Bank has been improved as a result of the fact that they have chosen not (yet) to implement the charge, it is Bangkok Bank which has gained extra business from me.

However, this really is a risible storm in a teacup. Why is it assumed that any bank has any obligation to provide any free or subsidised service to any person who is not their banking customer? In UK I usually get free use of ATM machines if they are operated by a bank which issues or is associated with the relevant card. But there are plenty of machines (especially in "convenience" locations) where a £1.50 charge is standard. I believe that the average tourist in Thailand will not find the charge remarkable or objectionable. An expat living locally who keeps his money in a local bank will similarly have no cause for complaint. Of course, the expats who choose to take advantage of cheap local living while keeping their money banked outside Thailand will suffer to some minor extent, but that is a matter of choice for them.

For anybody to suggest that these new charges are a sign that Thailand in general is engaged in some kind of anti-tourist or anti-farang conspiracy is ludicrous and paranoid.

[Naam]

I withdraw 20,000 to 30,000thb per transaction depending on machine and do it 20 times a month on average.

So I have to pay an additional 3,000thb+++ in addition to my issuing bank charges now just to bring money into this country using the most convenient method for me. Thailand is getting too greedy and is biting the hand that feeds it.

Instead of changing my convenient method, I will end up spending less here, and not tipping for any service including restaurants and bars to recoup this fee. Your loss again Thailand.

whom are you trying to bullshit?

[kiakaha]

I withdraw 20,000 to 30,000thb per transaction depending on machine and do it 20 times a month on average.

So I have to pay an additional 3,000thb+++ in addition to my issuing bank charges now just to bring money into this country using the most convenient method for me. Thailand is getting too greedy and is biting the hand that feeds it.

Instead of changing my convenient method, I will end up spending less here, and not tipping for any service including restaurants and bars to recoup this fee. Your loss again Thailand.

whom are you trying to bullshit?

with that sort of monthly activity , surely easier to do 1 international bank transfer to a thai bank account and then use your local debit card as needed, charge free.

[Heng]

150 Baht, big deal. It well should be affecting as many people as possible as it was a BUSINESS DECISION not a personal one.

It does NOT matter, not with HSBC Premier (free transfers between your accounts in different countries). Agree with the poster that this mainly only affects people with a minimal amount of funds who are forced to make many small withdrawals per month.

p.s. I do still make a couple of foreign atm withdrawals per day and accept the fee like any other person, foreign or local and am currently not having fits about it.... some people will still have a need for atm use, no matter what.

Edited April 30, 2009 by Heng

[johna]

Obercommando , i'm sure anyone reading this would love to have a clue as to why you need so much money virtually every day. I'm not expecting you to reveal too much personal detail , but it is a huge sum you are spending , just a hint as to how would be of interest to us all i'm sure. I spend around 4-5000 baht a day for half the month on average (but some days almost nothing ) and i have always thought i was a big spender but you are something else.

I have a couple of cars, and some other stuff I am paying for on a monthly basis, as well as some business expenses, which makes up the most of it.

I'm earning more than I spend, and the business expenses are obviously recouped with profits.

If this is true you should be depositing money in the Bank, not withdrawing it?

[tartempion]

My european bank tells me this:

ATM transaction cost outside Europe (EEA zone): 2,86 EUR + 0,30% on amount withdrawn (at which exchange rate?)

Thus now add 150B to this???

To whom goes the 2.86 euro + 0.30% then???

Something is wrong with the additional 150B charged by Thai banks

International bank transfer fee at my bank to a non EEA country is 1 per thousand with min of 7 euro + costs of receiving bank.

Transferring 10k euro thus costs me 460 Baht + unknown amount of Baht, Seems Siam Commercial Bank is "unable" to quote their own cost!, but the exchange rate should be better than the notes exchange rate.