Thai Banks Asked To Cut Foreigners Atm Transaction Fees

[david96]

Information for Australian card users, Applicable at 30/03/2009.

Access fees. Bank CBA. Commonwealth Bank of Australia.

Withdrawals,balance enquires or purchases through Maestro and Cirrus, Mastercard or

Visa Plus networks of electronic terminals overseas (or any purchase using your Debit

Mastercard overseas or that involves currency conversion.)

Maestro (EFTPOS) or Debit Mastercard purchase transaction,

AUD$1.00 plus 2% of the transaction value.

Cirrus, Mastercard or Visa Plus ATM balance enquiry, AUD$2.00.

Cirrus, Mastercard or Visa Plus ATM cash withdrawal, AUD$5.00 plus 2% of the

transaction value.

Cash advance fees applicable to all Credit Cards.

Overseas Terminal or Bank. AUD$4.00 or 1.25% of the cash advnce amount,

(whichever is the greater).

Other fees and charges applicable to all Credit Cards.

Transactions converted by Mastercard 2.95%

Transactions converted by Visa 2.95%

Transactions converted by any other means 2.00%

For foreign currency transactions are converted to Australian Dollar equivalents by

Visa and Mastercard on the day they are procesed by Visa and Mastercard, at the

rates set by Visa and Mastercard.

---------------------------------------------------------------------------------------------------------------

Question, Will the 150THB fee be charged on top of your normal fees or will they be exempt as you have already been charged the fees for the transaction.and these fees will appear on

your statement. 150THB is about AUD$6.00.

It appears that only cards from the US and the UK are affected by this fee and only from certain banks and credit unions etc.

Edited May 4, 2009 by david96

[wileycoyote]

Good Result,I hated the B150 charge per transaction

[Doug]

Bangkok Bank DOES charge the 150 baht fee.

They dinged me yesterday, and in Canada, my bank dinged me another 165 baht (Cdn$5), which is their normal fee for a foreign ATM withdrawal.

[Acky]

Where in Pattaya is a GSB (Government Savings Bank) ATM?

No fee and 30k withdrawal

Thanx for that info.

[MaiDong]

Just to point out: PayPal lets you send up to £500 per month(or even per year! - can't remember) for free, anything over this amount and you have to upgrade from a 'regular' to a 'premium' user and are therefore charged 3.4% - more than the new ATM fee.

[jeffer]

You have to read some bank statements carefully to see what you are having added on. With my overseas statement, if you withdraw 10,000 baht you have to read the small print because while your home currency amount withdrawn is obvious, the Thai baht amount is shown in a smaller font as 000010150.0000. The 150 baht fee isn't shown as a separate fee, just lumped in with the actual cash you withdrew. The fee from my home bank is shown as a separate charge on top of this.

Edited May 4, 2009 by jeffer

[fxe1200]

wooohoooo - :-))))))

Is it true that some banks still don't charge now? ??

Kasikorn und Ayudhya do not charge up to today.

[SmartFarang]

Yes, I have online banking at Thai banks also. Note that some banks will refuse to open an account for a foreigner, and some will allow you to open an account but then refuse to allow online banking access. Some will require a work-permit, many will require a Non-Immigrant 'O' visa. I have a NI 'O'. You will have a lot of resistance with a 30-day Tourist visa.

I have been refused at a bank in Pattaya, only to go to another branch of the same bank a few minurtes later and be granted everything I asked for. Seems that branch employees have some guidelines, but have a lot of latitude to make exeptions. IMO your appearance makes a lot of difference. Shave, dress in shirt trousers and shoes. Be polite.

As a foreigner it,s not possible to have a internetbankaccount but for Thai people there are. I don´t understand this. When I am outside Thailand I can not look at my account on internet. I can´t make payment to people or company from my bankaccount when I am abroad. This is bad service from Thai Banks.

^ Huh? I'm not Thai but I have online banking accounts with Bangkok Bank and Siam Commercial... Can access them online from anywhere in the world that has internet access...

Edited May 4, 2009 by SmartFarang

[SurfRider]

"Where in Pattaya is a GSB (Government Savings Bank) ATM?"

So far, the only two reported in Pattaya are at the Tutcom IT Center on South Pattaya Rd. ( Pattaya Tai ) -- just inside the front door on the right -- The other is at the Tesco on North Pattaya Rd. ( Pattaya Nua ) --

It's possible there are others, but all the info on the GSB website is in Thai and nobody has deciphered and reported it yet.

.

[Acky]

So far, the only two reported in Pattaya are at the Tutcom IT Center on South Pattaya Rd. ( Pattaya Tai ) -- just inside the front door on the right -- The other is at the Tesco on North Pattaya Rd. ( Pattaya Nua )

Thanx a lot, this two locations are Ok for me.

Interesting what will happen if they notice the increase of foreign withdrawals.....

[jeffer]

Since mid-April, foreign cardholders withdrawing funds from local ATMs have been charged 150 baht per transaction.

Dr Twatchai said the fee largely came from new transaction charges imposed by international service providers MasterCard Worldwide and Visa Worldwide to cover interchange network costs.

Local banks, which had previously absorbed the expenses, are now looking to pass on their own operating expenses to customers, arguing that the fees charged in Thailand are in line with expenses charged for cross-border ATM transactions in other countries.

But a MasterCard spokesman denied that the 150-baht ATM access fee imposed by many Thai banks stemmed from any recent fee change or initiative by the company. The spokesman said MasterCard last notified member banks in October 2007 about a 0.2-percentage-point increase in fees effective from  under cross-border agreements. Since then, no other fee increases have been made related to ATM charges.

-- Bangkok Post 2009-05-04

So the local banks have absorbed the expenses but due to an increase of 0.2% back in January 2008 we now have a 150 baht fee? I get the feeling someone isn't being entirely honest and with a choice between a spokesman for MasterCard and someone called <deleted> chai I know who I would believe.

I don't know how much Thai banks make on exchange fees from processing ATM withdrawals but presumably it can't be too bad as with all the extra business Kasikorn is getting they'd soon impose the 150 baht fee if they were losing money. I was in a shopping centre the other day, a block of 3 ATMs with four foreigners at the Kasikorn ATM while no one was waiting at the other two, obviously many people are aware of Kasikorn not charging the fee.

Edited May 4, 2009 by jeffer

[dezy1801]

Actually you are being charged something, a shitty exchange rate!

Did you bother to look at the rate they gave you at the bank when you did that transaction?

ATM withdrawals from ATMs give you the cash spot rate while OTC withdrawals at the counter DO NOT.

wooohoooo - :-))))))

I tried going into the bank and withdrawing money using my card and producing my passport and withdrew 50,000 baht and was not charged anything from the Siam bank and HSBC so from now on I will just go into the bank as it will save money.

Hope this helps someone.

Well Khun Jake I did notice on my transaction on the 24th of April it was 50.7 baht to the £ to withdraw from the bank, when I drew from the ATM on the 22nd of April it was 51.1 baht to the £. You are always going to get screwed from the bank withdrawing money with exchange rates that is just the way it is.

FYI it has been a shitty exchange rate for the past few years if you have not noticed.

I'm sure you get screwed someway or another (yes from the bank not from a thai wife) with money exchange rate, wait don't tell me you get your pension paid into your Thai account at the same exchange rate as on the day.

What is huh all about is this some new clever way of saying that I'm stupid or something?

[mortenaa]

2) If you go to the counter in the same bank and ask for 20,000 Baht, you'll be charged an additional US $21.65 due to the difference in the Exchange Rate between the ATM and the counter.

Im not sure this is correct.

I have tried this with Ayudhaya, and they produced the same rate when using their counter service VISA terminal and the ATM. Believe me I used to do this a lot before. And tried transfer with the ATM and the counter within minutes, and got the same rates. The only "fee" was the bank of origin that put a markup of 1.5%.

[sangfroid]

Information for Australian card users, Applicable at 30/03/2009.

Access fees. Bank CBA. Commonwealth Bank of Australia.

Withdrawals,balance enquires or purchases through Maestro and Cirrus, Mastercard or

Visa Plus networks of electronic terminals overseas (or any purchase using your Debit

Mastercard overseas or that involves currency conversion.)

Maestro (EFTPOS) or Debit Mastercard purchase transaction,

AUD$1.00 plus 2% of the transaction value.

Cirrus, Mastercard or Visa Plus ATM balance enquiry, AUD$2.00.

Cirrus, Mastercard or Visa Plus ATM cash withdrawal, AUD$5.00 plus 2% of the

transaction value.

Cash advance fees applicable to all Credit Cards.

Overseas Terminal or Bank. AUD$4.00 or 1.25% of the cash advnce amount,

(whichever is the greater).

Other fees and charges applicable to all Credit Cards.

Transactions converted by Mastercard 2.95%

Transactions converted by Visa 2.95%

Transactions converted by any other means 2.00%

For foreign currency transactions are converted to Australian Dollar equivalents by

Visa and Mastercard on the day they are procesed by Visa and Mastercard, at the

rates set by Visa and Mastercard.

---------------------------------------------------------------------------------------------------------------

Question, Will the 150THB fee be charged on top of your normal fees or will they be exempt as you have already been charged the fees for the transaction.and these fees will appear on

your statement. 150THB is about AUD$6.00.

It appears that only cards from the US and the UK are affected by this fee and only from certain banks and credit unions etc.

Thanks for that David

[mortenaa]

Actually you are being charged something, a shitty exchange rate!

Did you bother to look at the rate they gave you at the bank when you did that transaction?

Maybe this differ from bank to bank, but in my experience the same rate. Bank of Audhaya

[summers]

wooohoooo - :-))))))

Is it true that some banks still don't charge now? ??

IT is true, for example: Bank of Ayudiyah does not charge an extra fee, whereas, Siam Commercial Bank cheerfully charges an extra 150 baht.

[Priceless]

what really makes me hot is, when the banks started with the ATM thing, their reasoning was, it would be less costly to the customer, because these atm's would be handled by machines and not paid employees, therefore not costing the banks any money and not costing the customers any money.. savings all around... well, that crap didn't last long, did it? In my estimation, banks are only one rung down the ladder from lawyers.. who are one rung the ladder down from used car salesman.

Well, ATMs have been around for at least thirty (30) years, so it did take a while

/ Priceless

[Phil Conners]

Here is what I do to cut all that crap out. You can do this if you have a Thai bank account. I have a Siam Commercial Bank account. I setup a Paypal account noting the country as Thailand during the setup. I added my Siam Commercial Bank account to it. It was listed as a bank in the drop down. I also have an American Paypal so what I do is transfer money from my Paypal American account to my Paypal Thailand account. If i do over 5000 baht there is no fee otherwise it's 50 baht. It takes about 7 days to transfer the money but I pay NOTHING. Even when I paypal myself to the Thailand Paypal, they take nothing. Then the money hits my SCB account. I know it might seem like a lot of steps but honestly it takes me 1 minute to do the transfer and I just wait. This is how I pay my rent and get my money here in Thailand because Wells Fargo in America charges a ATM fee, International Currency Fee and some other crap. So, i don't get charged all the fees. The only drawback could be the exchange rate on the baht but it's fairly decent right now.

Check out the exchange rate they give you. It's atrocious! You may not pay any fees but you're being butchered by the exchange rate they give you.

[Mali1964]

As recently as this past weekend, I can confirm that both Bangkok Bank and Bank of Ayuthaya are NOT charging any fees for foreign card ATM withdrawals, so best to use these - at least for the time being.

Nonsense, they were the ones who started with it !

Bank of Ayuthaya have been reported as fee free from the start & remain so today, where as Bangkok Bank users have been reporting charges made, though some have said they were not charged at Bangkok bank ATM's which makes it confusing

[dezy1801]

Actually you are being charged something, a shitty exchange rate!

Did you bother to look at the rate they gave you at the bank when you did that transaction?

Maybe this differ from bank to bank, but in my experience the same rate. Bank of Audhaya

Mortenaa my bank is a little bit a difference (hardly shitty) from the UK to my Thai account but I think khunjake is just a little bitter about the whole thing he should maybe get out more

[BlueSmurf]

As recently as this past weekend, I can confirm that both Bangkok Bank and Bank of Ayuthaya are NOT charging any fees for foreign card ATM withdrawals, so best to use these - at least for the time being.

Nonsense, they were the ones who started with it !

Yes last Friday the Bangkok bank chareged me 150 baht to withdraw 15'000 baht...last year I paid a extra 12.95 GBP to my Hsbc bank in the UK so I would not get any ATM fees at their end!! I will still pay this as I get ID theft insurance but <deleted>!!!

I have raised my limit so I can take more out and was told Sunday this had taken effect immediatly but yesterday I could only get the same 15,000 out..It just goes on and on........Do not want to bring large amounts over because the perverbial shit is likely to hit the fan at anytime here......

[jimbo38]

"Well, ATMs have been around for at least thirty (30) years, so it did take a while"

It didn't take them thirty years to start charging at the ATM. As soon as people got used to being charged for using the teller inside the bank they started charging for using the ATM.

I use a Credit Union in the USA. I don't get charged for the first four withdrawals per month at other ATMs and have unlimited withdrawals at the CU's ATMs and I never get charged for going inside and using a human being teller. For every 1 dollar I keep at the CU that's one share of the CU that I own!!!! Every one needs to take their money out of the banks and put it in a CU. Put the banks out of business!!!!

arrrgggghhhh!!!!!!!!!!!

[Hog Head]

Here is what I do to cut all that crap out. You can do this if you have a Thai bank account. I have a Siam Commercial Bank account. I setup a Paypal account noting the country as Thailand during the setup. I added my Siam Commercial Bank account to it. It was listed as a bank in the drop down. I also have an American Paypal so what I do is transfer money from my Paypal American account to my Paypal Thailand account. If i do over 5000 baht there is no fee otherwise it's 50 baht. It takes about 7 days to transfer the money but I pay NOTHING. Even when I paypal myself to the Thailand Paypal, they take nothing. Then the money hits my SCB account. I know it might seem like a lot of steps but honestly it takes me 1 minute to do the transfer and I just wait. This is how I pay my rent and get my money here in Thailand because Wells Fargo in America charges a ATM fee, International Currency Fee and some other crap. So, i don't get charged all the fees. The only drawback could be the exchange rate on the baht but it's fairly decent right now.

That beats the 45.00 CAD I pay on my regular monthly wire.

I think I will give it a go

[BlueSmurf]

"I tried going into the bank and withdrawing money using my card and producing my passport and withdrew 50,000 baht and was not charged anything from the Siam bank and HSBC so from now on I will just go into the bank as it will save money."

( apologies for this cross-posting to those reading the other threads, but hopefully more information will eventually lead to more enlightenment )

From an example in another TV thread on this subject, SCB quoted a lower exchange rate for doing an over-the-counter transaction vs. using their ATM -- whether or not other Thai banks have the same variance in their rates is unclear -- below is an example and a summary of the pertinent issues as they currently stand:

1) If you go to SCB's ATM and use a Debit Card to withdraw 20,000 Baht from a foreign account, your account will be charged a 150 Baht fee ( US $4.25 )

2) If you go to the counter in the same bank and ask for 20,000 Baht, you'll be charged an additional US $21.65 due to the difference in the Exchange Rate between the ATM and the counter.

3) If you go to a Kasikorn or Ayudhya or GSB ATM and use the same Debit Card, there won't be ANY additional charge.

How long Kasikorn and Ayudhya will continue to NOT charge the 150 Baht fee is unknown, but there is reason to suspect that GSB will remain free of the 150 Baht charge because they don't appear to be a member of the cabal that is imposing the new fee. Additionally, GSB's ATM transaction limit is 30,000 Baht -- at Kasikorn and Ayudhya the limit is 20,000

.

This sounds helpful...Sorry but can you give the full name for GSB Eludes me at the moment..Must be having a elderly momement..Thanks in advance

[McFarang]

Here is what I do to cut all that crap out. You can do this if you have a Thai bank account. I have a Siam Commercial Bank account. I setup a Paypal account noting the country as Thailand during the setup. I added my Siam Commercial Bank account to it. It was listed as a bank in the drop down. I also have an American Paypal so what I do is transfer money from my Paypal American account to my Paypal Thailand account. If i do over 5000 baht there is no fee otherwise it's 50 baht. It takes about 7 days to transfer the money but I pay NOTHING. Even when I paypal myself to the Thailand Paypal, they take nothing. Then the money hits my SCB account. I know it might seem like a lot of steps but honestly it takes me 1 minute to do the transfer and I just wait. This is how I pay my rent and get my money here in Thailand because Wells Fargo in America charges a ATM fee, International Currency Fee and some other crap. So, i don't get charged all the fees. The only drawback could be the exchange rate on the baht but it's fairly decent right now.

Thats a good idea with Paypal, I have an HSBC account in Dubai best interest rate at the moment 3.5% on savings. I transfer Money monthly to my Thai HSBC Account in Bangkok it costs me nothing and HSBC Bangkok always give a good exchange on US into THB (35.5 last month.)

Although Foreign Banks are only allowed one Branch in Thailand so no HSBC in Phuket I can withdraw from all ATMs without charge (I think) will have to check.

The advice to open a Thai Account is a good one and just drip feed it I always state Thailand Living Expenses on Internet transfers and that keeps the Bank & Gov happy.

[tartempion]

I use a normal ATM card, why I have to pay for MasterCard and Visa users ?

Let the banks not forget that we already pay 2,95 euro (140 bath) per transaction to our own banks, that makes the total costs for us 290 bath !!!!

Indeed I checked my bank's small letters on ATM use outside of EEA (European Economic Area) and they charge 2,86 euro + .3% on the transaction amount, no way I will believe this is compensation for MY bank to use other banks ATM's network since they charge a yearly fee for issuing/using the card to begin with, that should rather pay the foreign bank system. Thus the additional 150B seems a scam to me.

Edited May 4, 2009 by tartempion

[thaimate]

Seems like Kasikorn still doesn't charge. At least, there is no on screen notice, and nothing about it on the receipt...

didnt charge as of 4pm

[invex]

Listen to this and pls, administrator, don’t delete this post again.

It takes a long time to type and then the post is deleted for some strange reason. Why? I post a very short message now.

A few weeks back I wanted to buy a car in BKK. I went to a Kasikorn Bank to take 100.000 Baht from my account and to use it as a deposit for the car. They charged me about 500 Baht to take the money. At the end of the day, I decided not to buy the car so, I went back to Kasikorn Bank and with a big smile they took my 100.000 Baht back. Of course the fee again was about 500 Baht.

Almost 1.000 Baht to take some of my money from my account and bring it back in the evening.

Good bank-business in Thailand. I still feel no good about that. Crazy.

[gbswales]

The three big Pariahs of the world are Lawyers, Insurance companies and Banks - we all deposit millions into these institutions - do they gratefully appreciate that we trust them to look after our money - giving them funds to play with - No way what they do is to look for any opportunity to charge us for lending THEM our money. Over the last 30 years the technology has seen a revolution - unfortunately the banking industry have simply looked at how it makes life easier for them rather than their customers. They like to keep all the inconveniences of the paper banking days just to convince us that we should still be charged. Thai banks are no different to any others and I would ask why UK banks

- Why does it take up to 5 working days for a payment made on line to reach the recipients bank - when in reality this could happen in as many minutes! They will say it is to prevent money laundering ahem I am sorry but when I send about 2-3 payments a week most of which are for less than £50, and when I have been their customer for 14 years- exactly what suggests that I might be money laundering.

- I send emails to Thailand which cost me no more than sending an email to my next door neighbour - therefore it shouldnt cost any MORE to send £200 to Thailand than it would to send it to someone in the UK and yet I am likely to be charged anything from £10 -£20 per transaction.

- Why arent things like direct debits, standing orders worldwide things so that you can set up regular payments to people abroad

- Why does it cost them £12 to send an automated notice that you are overdrawn (or missed a credit card payment) - why dont the send you an email free of charge instead - if I miss a payment or go overdrawn I already pay exhorbitant interest on it so what possible excuse is there for these kind of penalty charges

Frankly I dont single out Thai Banks because they charge a bit more than someone else - I accuse them all - American, British, European of finding any excuse they can to fleece their customers. The ironic thing is that they manage all OUR money so badly that they are the principal cause of the current recession!

[AsiaCheese]

The three big Pariahs of the world are Lawyers, Insurance companies and Banks ...

:D :D