Thai Banks Asked To Cut Foreigners Atm Transaction Fees

[jgm005]

Government Savings Bank (GSB) Nonsang, Nongbulampoo ATM as of 16/May at 13:03

NO FEE

[lekatai]

Does anyone know the location of Government Savings Bank ATM's in Pattaya,I looked at their website,but the link to branches is all in Thai,and I don't recall seeing a GSB ATM.If there is one in the Soi Buakhao/Second Road area,that would be handy. Thanks

[shotover]

"Tried Kasikorn ATM today in Bangkok and it asked for 150 THB fee. Canceled the transaction and used Bank Of Ayudhya - zero fee."

Well, it looks like the venerable old Kasikorn-- formerly the alleged "Farang Friendly Bank" has joined the ranks of the United-Usury-Alliance and begun charging the confiscatory 150 Baht fee for all ATM foreign account Debit Card withdrawals.

This apparently leaves Ayudhya and GSB still not charging the fee -- Presumably GSB ( Government Savings Bank ) will remain fee-free, since they're not a member of the cabal that conspired on this latest screw-the-farang escapade-- unless they also make the decision at some point to jump on the greed band-wagon.

Earlier reports had GSB with the highest per-transaction amount of 30,000 Baht, but one report from Samui with only a 20,000 limit.

UOB ( United Overseas Bank ) was also reported as fee-free, but only in one report, as I recall.

If anyone has recent updates on GSB and UOB, it would be nice to have them reported-- as well as the continuing reports on Ayudhya.

Today, Saturday, 16 May about 12 noon:

ATMS at both the Kasikorn Bank and Bank of Ayudhya in the Bangkok On Nut area asked for the 150 baht per foreign withdrawal transaction. The United Overseas ATM did not state they were charging the 150 baht transaction fee. The effective transaction rate at the UOB ATM was about 34.11 baht per USD withdrawn. The Kasikorn TT rate today was 34.42 baht per USD.

[SurfRider]

"Does anyone know the location of Government Savings Bank ATM's in Pattaya"

Locations of Government savings Banks in Pattaya.

GOVERNMENT SAVINGS BANK

Banglamung Branch - 460 Naklua Road, Moo4

Pattaya Branch - 205/23-24 Second Road, Moo10 Tel +66(038) 423 690

There's also a GSB ATM in the Tutcom IT Center on South Pattaya Road ( Pattaya Tai ), just inside the front door on the right.

There was also a report that the TESCO North on Pattaya Nua Rd. has a GSB ATM, but I couldn't find it --

However, if you walk across the street from Tesco, turn left in front of Pattaya City Hall and walk about 200 meters toward Sukumvit, there's GSB Bank with a 24 Hour ATM outside --

UOB ( United Overseas Bank ) was also reported as fee-free, but only in one report, as I recall. They have at least one ATM ( probably more ) on Beach Road in Pattaya.

If anyone has a recent update on UOB, please report it.

[SurfRider]

"ATMS at both the Kasikorn Bank and Bank of Ayudhya in the Bangkok On Nut area asked for the 150 baht per foreign withdrawal transaction. The United Overseas ATM did not state they were charging the 150 baht transaction fee. The effective transaction rate at the UOB ATM was about 34.11 baht per USD withdrawn. The Kasikorn TT rate today was 34.42 baht per USD."

It's probably uncertain at this point whether the difference between the 34.11 and 34.42 Exchange Rates was done to intentionally mask the new usury fee, or simply due to DCC or some other anomaly.

But the difference between the two rates results in a 180 Baht additional "charge" at UOB on a 20,000 Baht transaction.

Either way, your were "hit" for an additional charge that probably did not previously exist.

It would be interesting to see the stats on a GSB ( Government Savings Bank ) transaction, to evaluate if they might be the last renegade holdout on this scam.

[mel2surf]

Not sure if already stated,but Kasikorn Bank on Rat U Tit Rd. in Patong charged me the 150 baht last night. Will try another bank's ATM machine next time.

[cgit6]

A-Bank (Ayudhas(sp?)- Siam Paragon - 15May - 33.x exchange rate + 150 special fee!

[Briggsy]

Looks like Ayudhaya has gone too. Just the Government Savings Bank left not levying the 150 Baht ATM use fee.

[jfchandler]

fyi, I made a fee-free ATM withdrawal today from the Government Savings Bank ATM at the Asoke BTS station (the ATM is located on the 2nd floor platform on the way toward the escalator down to the MRT station).

The GSB ATM was happy to take my U.S. VISA debit card. However, the GSB machine would NOT accept my U.S. MasterCard logo debit card.

Separately, I tried to use the same U.S. MasterCard logo debit card at a UOB Bank ATM, and it likewise was not accepted. (The card itself is fine, I used to use it all the time at Bangkok Bank, Siam Commer Bank and others, before they began charging the 150 baht fees).

[SurfRider]

"I made a fee-free ATM withdrawal today from the Government Savings Bank ATM at the Asoke BTS station"

Any chance that you could check your on-line account and calculate and post the exchange rate that you received from GSB?

That might be the final piece of information that would tell whether GSB is the lone holdout on the 150 Baht scam, but possibly doing transactions an an unfavorable rate, which could negate the no-fee advantage, depending on the amount of the transaction.

Earlier, there was an example posted where a UOB ATM did not charge the fee, but gave an unfavorable exchange rate that would result in a 180 Baht hidden fee on a 20,000 Baht transaction, due to the lower exchange rate.

Not to split hairs, but in the UOB scenario, any of the banks ( Ayudyah , etc. ) that ARE charging the fee, but giving a better exchange rate would be a better deal for any transaction over 17,000 Baht.

[jfchandler]

Surftrader, I understand the desire to know the exchange rate... I share that... Unfortunately, the U.S. bank whose card I use doesn't update their online banking over the weekends, so it will be Monday morning U.S. time/Monday night here before the transaction will show up for me to know the $ amount debit. I'll update the post then...

[Mali1964]

I've started a new thread related to UK banks fee's & ideas to transfer money to Thai Banks at the best rates possible & how to possibly avoid these extortionate ATM fee's now there's only 2 banks left without this 150 baht fee.

Any ideas & confirmations of transfers that worked well please share them here. Thanks Shaun

http://www.thaivisa.com/forum/Nationwide-a...26#entry2741926

[pooket]

LOL - Truth, contracts, honesty, doing what you say/said you would, Thailand???? LOLOLOL

Why do I have difficutly connecting all the words. Which on might be eliminated?

Amen, brudder!

[pooket]

Bangkok Bank ATM did charge me 150bht on 25th April.

I amlooking ath e Baht, just kept so strong through all those bad news strories last month, even getting stronger in thel ast 4 days, with it being as export economy why does the Thai Central Bank hold it at an uncompetitive level. Effectivly, intl torism is also an export in a way.

Of course, LOS will keep bouncing on. I feel a little sorry for the innocent 'poor' worker being laid off though.

When are people going to realize that foreign exchange is controlled by International Currency Traders and Government Reserves/Central Banks? Currency traders and Central Banks look primarily at economic trends and regional trends (ie. Thailand vs. Malaysia vs. Philippines), not local social trends (ie. increase in death rates, some farangs getting killed, ASEAN summits cancelled etc.)

As long as tourism in Thailand doesn't nose-dive, and as long as the Thai Central Bank has enough $ reserves, the baht will stay in today's range of 33-36 bht / $1

Tourism has nothing to do with it. The strength of the baht is determined by foreign investment in the SET. When foreign buying is more than selling, the SET goes up and the baht gets stronger. When foreign selling is more than buying, the SET goes down and so does the baht. I have seen this correlation in graphs provided by Kasikorn Securities. If you don't believe me, go back and look where the SET was in early March and where the US dollar was. The SET was lower then, and the dollar was 2 baht stronger. Now, the SET is higher and the dollar is lower. Huge funds in foreign countries that want to invest in the SET need to buy Thai baht so they can purchase Thai stocks. There's no convuluted conspiracy here...it's all about business.

[8ball]

I can confirm that i was able to withdraw cash from a UOB bank on Sat afternoon without incurring the 150 baht fee for overseas cards. There are a few UOB atm's located near several BTS stations.

Also tried the Kaisakorn on Sat and noted the 150 baht fee. Tried Auttaya last week and there was no fee indicated.

Hope this helps somebody.

Cheers,

8ball.

[webfact]

Bangkok Bank charged 150 Bht yesterday (Saturday) at 2pm.

[antaray]

Additionally, GSB's ATM transaction limit is 30,000 Baht -

.

what actions do I have to follow to get not fast cash but more than 10 000 at GSB ATM?

Edited June 5, 2009 by antaray

[jfchandler]

As of this date, here's a recap of the no-fee ATMs :

Government Savings Bank -- only takes Visa logo cards

UOB - takes MC and VISA logo, but reportedly planning to start charging the fee at some time.

AEON - takes MC and VISA logo cards

Bangkok, Siam Commercial, Kasikorn, Krung Thai, Siam City, CIMB and various other Thai banks are charging 150 baht per ATM withdrawal using a foreign bank card.

Reports have been mixed about Bank of Ayudhya... Some say they are charging a fee. Some say the ATM screen warns of a fee, but none is charge. I can't vouch for BoA, either way.

[jfchandler]

what actions do I have to follow to get not fast cash but more than 10 000 at GSB?

Most ATMs have two options for withdrawing cash... One is "Fast Cash." The other is just regular "Withdrawal"

With Fast Cash, the screen right away shows you common withdrawal amounts, 1,000, 2,000 5,000 baht, etc. And you just push the one button for the amount you want. And the cash is delivered.

With Withdrawal, you have to press a few more buttons. Typically, the ATM will ask you want account you want to withdraw from, savings or current (checking). And then, you have to use the ATM numeric keypad to type in the amount of withdrawal you wish, such as 1-5-0-0-0 for 15,000 baht.

If you want to withdraw more than 10,000 baht (usually the maximum amount listed under "Fast Cash") and your home bank has a daily limit on your ATM card that allows such an amount, don't choose Fast Cash. Choose regular Withdrawal on the ATM screen, and then manually enter the amount of baht you wish to withdraw.

A few side notes... typically, Thai bank ATM machines will dispense a maximum of 25 notes per transaction. Some maybe be a bit higher or lower than that amount. So if the machine has 1,000 baht notes, it would typically give you a maximum of 25,000 baht per transaction. Of course, if the daily withdrawal limit on your bank card, set by your home bank, is lower than that, the machine would tell you are trying to withdraw some amount that's not available.

Also, sometimes, the Thai ATMs run short of notes, and may only have 500 baht or 100 baht notes. In that case, the maximum the machine would dispense per transaction would be 25 X 500 or 25 X 100.

[antaray]

aaa got it

so if i choose withdraw from savings - i will get cash

and current checking lets you know how much money do you have on your accont, right?

Edited June 5, 2009 by antaray

[fxe1200]

As of this date, here's a recap of the no-fee ATMs :

Government Savings Bank -- only takes Visa logo cards

UOB - takes MC and VISA logo, but reportedly planning to start charging the fee at some time.

AEON - takes MC and VISA logo cards

Bangkok, Siam Commercial, Kasikorn, Krung Thai, Siam City, CIMB and various other Thai banks are charging 150 baht per ATM withdrawal using a foreign bank card.

Reports have been mixed about Bank of Ayudhya... Some say they are charging a fee. Some say the ATM screen warns of a fee, but none is charge. I can't vouch for BoA, either way.

Having checked my last invoice, Bank of Ayudhya did not charge any fee. But when using their ATM in Hat Yai I was asked to accept a lower exchange rate (44,13 to the EURO). I could continue without accepting, and the exchange I rate ended up with a rate of 46,950, the ECB middle rate at that day was 47,352.

[jfchandler]

I could have added, re Bank of Ayudhya, but didn't, because it's been said here elsewhere many times...

Bank of Ayudhya some months ago began doing what's called Dynamic Currency Conversion (DCC) on certain ATM withdrawals. Specifically, those made using MasterCard logo cards denominated in either U.S. $ or Euros.

DCC means it's the bank that's setting the exchance rate, not the VISA or MC card networks, as is usually the case. The predictable result, of course, is that Ayudhya gives terrible exchange rates with DCC when people use U.S. $ or Euro MasterCards (whether credit or debit card).

When they launched this new method, they had stickers placed on their ATM machines indicating that they would use DCC for those kinds of transactions. Of course, they didn't tell customers on the ATM stickers that DCC would give them a terrible exchange rate... But hey, what can you expect.

What's not clear about Ayudhya, however is this:

For MasterCards, ultimately, are they going to continue DCC and then also start charging a 150 baht fee at some point?

or...

Are they going to do DCC for MasterCards with no fee, but then do regular exchange rates for VISA cards and charge the 150 baht fee.

From all indications, Ayudhya is or will be charging the 150 baht fee. It's just not clear yet whether it will be on VISA and MC cards, or only on VISA logo cards.

[jitenshaman]

As of this date, here's a recap of the no-fee ATMs :

Government Savings Bank -- only takes Visa logo cards

UOB - takes MC and VISA logo, but reportedly planning to start charging the fee at some time.

AEON - takes MC and VISA logo cards

Bangkok, Siam Commercial, Kasikorn, Krung Thai, Siam City, CIMB and various other Thai banks are charging 150 baht per ATM withdrawal using a foreign bank card.

Reports have been mixed about Bank of Ayudhya... Some say they are charging a fee. Some say the ATM screen warns of a fee, but none is charge. I can't vouch for BoA, either way.

anywhere i can obtain a listing of addresses of AEON, UOB, and Govt Savings banks in Bangkok? Thanks

[teachermark]

I thought all Farangs were "rich" .. why are you all quibbling over a lousy 150 Baht fee? Only an idiot would withdraw multiple amounts of money from a foreign account everyday. If you live here .. get a Thai account. If you don't live here .. then you are a rich tourist .. spread the love .. don't be "kee nee-oh"

[jfchandler]

anywhere i can obtain a listing of addresses of AEON, UOB, and Govt Savings banks in Bangkok? Thanks

The answer to finding all the wisdom of the world (and fee-free ATMs) can be found on TV here.....

Cheers...

[jfchandler]

Only an idiot would pay a 150 baht ATM withdrawal fee at some Thai banks, when there are other Thai bank ATMs (UOB, GSB, AEON) where you can do the same transactions/withdrawals for free/no fee.

Only an idiot thinks all farangs are rich...

And you might consider, those farangs that are "rich" may have gotten and stay that way because they're careful and smart about how they spend their money, and don't make a habit of wasting it on overpriced Thai bank fees.

Sounds like TeacherMark needs to go back to school for a lesson on handling money. He obviously has a lot to learn.

I thought all Farangs were "rich" .. why are you all quibbling over a lousy 150 Baht fee? Only an idiot would withdraw multiple amounts of money from a foreign account everyday. If you live here .. get a Thai account. If you don't live here .. then you are a rich tourist .. spread the love .. don't be "kee nee-oh"

[mickba]

I've started a new thread related to UK banks fee's & ideas to transfer money to Thai Banks at the best rates possible & how to possibly avoid these extortionate ATM fee's now there's only 2 banks left without this 150 baht fee.

Any ideas & confirmations of transfers that worked well please share them here. Thanks Shaun

Am I right in thinking that I can simply pay a UK cheque into my Thai bank and pay a 1% fee (i.e. same as Nationwide now charge on overseas ATM withdrawals) and then nothing more to pay for using my Thai card, thus avoiding the 150 baht fees ?

[jitenshaman]

I thought all Farangs were "rich" .. why are you all quibbling over a lousy 150 Baht fee? Only an idiot would withdraw multiple amounts of money from a foreign account everyday. If you live here .. get a Thai account. If you don't live here .. then you are a rich tourist .. spread the love .. don't be "kee nee-oh"

you think your average Thai, whether they be rich or poor, doesn't want to avoid throwing away 150 baht if they can help it? Imagine if 7-11 had a 150 baht surcharge to use their facilities. I think we'd see Family business booming. I live here, I have a Thai account, although my income payment, via my work as a freelance photographer, pays primarily into my US bank account, thus I tend to favor using that ATM card rather than wire transferring funds over here too often. I withdraw 20,000 baht probably twice a month, so I would rather do far better things with the 300 baht then give it to the banks, especially when there are ways to avoid the thieves. Just got a Schwab account, and am happy to see that they reimburse ATM fees...it's called basic economic sense, not kee niaow.

[caf]

Bangkok Bank ATM did charge me 150bht on 25th April.

I amlooking ath e Baht, just kept so strong through all those bad news strories last month, even getting stronger in thel ast 4 days, with it being as export economy why does the Thai Central Bank hold it at an uncompetitive level. Effectivly, intl torism is also an export in a way.

Of course, LOS will keep bouncing on. I feel a little sorry for the innocent 'poor' worker being laid off though.

When are people going to realize that foreign exchange is controlled by International Currency Traders and Government Reserves/Central Banks? Currency traders and Central Banks look primarily at economic trends and regional trends (ie. Thailand vs. Malaysia vs. Philippines), not local social trends (ie. increase in death rates, some farangs getting killed, ASEAN summits cancelled etc.)

As long as tourism in Thailand doesn't nose-dive, and as long as the Thai Central Bank has enough $ reserves, the baht will stay in today's range of 33-36 bht / $1

Tourism has nothing to do with it. The strength of the baht is determined by foreign investment in the SET. When foreign buying is more than selling, the SET goes up and the baht gets stronger. When foreign selling is more than buying, the SET goes down and so does the baht. I have seen this correlation in graphs provided by Kasikorn Securities. If you don't believe me, go back and look where the SET was in early March and where the US dollar was. The SET was lower then, and the dollar was 2 baht stronger. Now, the SET is higher and the dollar is lower. Huge funds in foreign countries that want to invest in the SET need to buy Thai baht so they can purchase Thai stocks. There's no convuluted conspiracy here...it's all about business.

"The strength of the baht is determined by foreign investment in the SET."

I think you need to read a book on currencies or check out some currency threads here. That is absolute drivel.

[pooket]

Bangkok Bank ATM did charge me 150bht on 25th April.

I amlooking ath e Baht, just kept so strong through all those bad news strories last month, even getting stronger in thel ast 4 days, with it being as export economy why does the Thai Central Bank hold it at an uncompetitive level. Effectivly, intl torism is also an export in a way.

Of course, LOS will keep bouncing on. I feel a little sorry for the innocent 'poor' worker being laid off though.

When are people going to realize that foreign exchange is controlled by International Currency Traders and Government Reserves/Central Banks? Currency traders and Central Banks look primarily at economic trends and regional trends (ie. Thailand vs. Malaysia vs. Philippines), not local social trends (ie. increase in death rates, some farangs getting killed, ASEAN summits cancelled etc.)

As long as tourism in Thailand doesn't nose-dive, and as long as the Thai Central Bank has enough $ reserves, the baht will stay in today's range of 33-36 bht / $1

Tourism has nothing to do with it. The strength of the baht is determined by foreign investment in the SET. When foreign buying is more than selling, the SET goes up and the baht gets stronger. When foreign selling is more than buying, the SET goes down and so does the baht. I have seen this correlation in graphs provided by Kasikorn Securities. If you don't believe me, go back and look where the SET was in early March and where the US dollar was. The SET was lower then, and the dollar was 2 baht stronger. Now, the SET is higher and the dollar is lower. Huge funds in foreign countries that want to invest in the SET need to buy Thai baht so they can purchase Thai stocks. There's no convuluted conspiracy here...it's all about business.

"The strength of the baht is determined by foreign investment in the SET."

I think you need to read a book on currencies or check out some currency threads here. That is absolute drivel.

Here I am trying to help people understand what moves the dollar/baht rate and I have to hear my advice is "drivel". Great...I'm amazed at how many people (foreigners and Thai) in this country want to hide their heads in the sand. Do you and the other threads on currency know more than Kasikorn or historical charts? Where's your proof to back up your assertion. If you don't believe me, watch the big Kasikorn report that appears in the business section of the Bangkok Post once in a while. I'm just shocked at the gleeful and willful embracing of ignorance by people like you in this country. It's very disheartening.