Thai Banks Asked To Cut Foreigners Atm Transaction Fees

[Tokay]

A friend of mine works for VISA in the U.S. According to him, when a vendor has a VISA terminal in their store, it is a violation of contract to charge more for credit/debit card transactions than for cash. Everyone does it though in Asia, I guess the banks thought they would climb on board that gravy train too...

This is true. I also have a brick and mortar shop in the USA and it is illegal to charge someone extra for using a CC. Though I don't think this applies to an ATM machine.

[Time Traveller]

Why ? When I travel to another country the banks there always charge a fee for using that atm. Why should thailand banks offer free services for foreign cardholders? Anyway, it's not like the tourists decide to cancel a holiday because of small 5 dollar atm fee.

[wozza]

I used at least six different ATMS around Bangkok last week and all of them charged the 150 baht and I could only take out 10,000 baht at a time ,on 1 machine it said it could only dispense 10 bills per transaction 10 x 1000 = 10,000

It doubled my atm fees because i usualy take out 20 000 at a time

Why are some members able to take out more then 10 000 at a time? I used to be able to last year but not now

What's the maximum daily withdrawal limit set by your home bank if its an English card & its set at £200 theirs your problem as the rate of exchange as dropped by a third in the past year.

Thats not the problem My limit on an Australian Westpac card is $1000 per day which would convert into about 24000 baht

Last year I withdrew 75000 in 3 withdrawls 1 after the other @25000 each

[MikeS4]

Sounds like this whole thing affects only those Intelligentlemen who want to live in Thailand without having a single Baht in a Thai Bank account. I say: charge them, no problem!

Never read such a useless statement !! Or are you one of these fat, rich Thaimen who are using the 500 Mio THB loans from the banks to build another Shopping Center. Nobody else would benefit from money in local Thai Banks, except for the minimum wages of the bank employees.

Important is to bring money in the country then spent it locally to benefit all small people in Thailand. Thais and Farang alike. Every Penny received from abroad and taken from a local ATM will be most likely spent 90% locally, including small vendors, shop keepers, bars, restaurants, etc. It has nothing to do with placing funds in a local bank.

Such nonsense as written in the statement above shows either non thinking or a total despice for all foreigners which is equally bad in a world that will be in future without borders. It is just a question of time but nobody will and can stop it.

Think first !

[wozza]

A friend of mine works for VISA in the U.S. According to him, when a vendor has a VISA terminal in their store, it is a violation of contract to charge more for credit/debit card transactions than for cash. Everyone does it though in Asia, I guess the banks thought they would climb on board that gravy train too...

This is true. I also have a brick and mortar shop in the USA and it is illegal to charge someone extra for using a CC. Though I don't think this applies to an ATM machine.

In Australia it is legal to charge for a credit card purchase. mainly if you use Amex or Diners 1.5 to 3% is the norm for those cards with some retailers Produce a Master card or visa and then theres is no fee

[Mali1964]

I used at least six different ATMS around Bangkok last week and all of them charged the 150 baht and I could only take out 10,000 baht at a time ,on 1 machine it said it could only dispense 10 bills per transaction 10 x 1000 = 10,000

It doubled my atm fees because i usualy take out 20 000 at a time

Why are some members able to take out more then 10 000 at a time? I used to be able to last year but not now

What's the maximum daily withdrawal limit set by your home bank if its an English card & its set at £200 theirs your problem as the rate of exchange as dropped by a third in the past year.

Thats not the problem My limit on an Australian Westpac card is $1000 per day which would convert into about 24000 baht

Last year I withdrew 75000 in 3 withdrawls 1 after the other @25000 each

Think a call to Westpac may be your answer here then,find out if any policy as changed their end.

[Chayaphum]

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 !

Never, i was yesterday on a ATM from the Bank of Ayuthaya (the yellow one)...

no information about fees on the screen, also no remarks on the receipt , still same as before.

The Bangkok Bank, Krung Thai & Siam Commercial Bank will show you this fees on the screen before you made a transaction (i checked already)

Chayaphum

Edited May 4, 2009 by Chayaphum

[friendlyguy01]

Friendlyguy,

You reported:

"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."

If you could post the US$ amount that was debited from your US account and the amount of Baht that was credited to your SBC account - as well as the date of the transaction - We could calculate the Exchange Rate that you received vs. the rate that you would have received from a Debit Card transaction at a local ATM.

You may have discovered the best kept secret in international money transfer, or - as someone suggested, PayPal may be giving you a very unfavorable rate that may be costing far more than the confiscatory 150 Baht ATM fee.

.

I just did 300 US dollars 2 weeks ago and the amount that went into the account was 10,340 baht. I'm a bit amazed that Paypal doesn't take anything off the top from when I transfer money from American Paypal to Thai Paypal.

I login to my American Paypal (Business) and send money to my Thai Paypal (personal). I only get hit with a 50 baht fee if it's under 5000 baht during the transfer to SCB. That's it.

[friendlyguy01]

Friendlyguy,

You reported:

"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."

If you could post the US$ amount that was debited from your US account and the amount of Baht that was credited to your SBC account - as well as the date of the transaction - We could calculate the Exchange Rate that you received vs. the rate that you would have received from a Debit Card transaction at a local ATM.

You may have discovered the best kept secret in international money transfer, or - as someone suggested, PayPal may be giving you a very unfavorable rate that may be costing far more than the confiscatory 150 Baht ATM fee.

.

I just did 300 US dollars 2 weeks ago and the amount that went into the account was 10,340 baht. I'm a bit amazed that Paypal doesn't take anything off the top from when I transfer money from American Paypal to Thai Paypal.

I login to my American Paypal (Business) and send money to my Thai Paypal (personal). I only get hit with a 50 baht fee if it's under 5000 baht during the transfer to SCB. That's it.

Now, you have to remember that the amount that you get varies on the exchange rate at that time.

If you don't believe that it works this way, just create the Thailand Paypal account and then send money from your American Paypal account to it and you will see that Paypal takes NOTHING off the top.

[SantiSuk]

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 !!!!

So what you are saying is that is okay for your own bank back in your home country to charge you 140 baht. But the greedy Thai bank is killing tourism by changing you an almost identical fee. Seems to me that the Thai bank is doing about as much work as your own bank. Actually more. The Thai bank doesn't get to rip you off at every chance they get either for account maintenance fees, poor interest rates on deposits, transaction fees etc. Get real the Thai banks are no better or worse than your home country bank.

Seems like you need to bitch at your own bank as well. I would say that the Thai bank is doing what every other bank does. They all charge you fees not many are better than the others.

There are fees to get Travelers checks, to do a wire transfer and to withdraw funds from an ATM. I think for the convenience of getting easy access to your money it is trivial. If you are using an ATM more often then you really need to figure out a better way to access your money. Hope you have lots of time and are willing to pay more fees!! Good luck getting anything for free from a bank foreign or Thai!

At last - some balanced non-knee jerk comment.

The ones I feel sorry for are the backpackers who mostly draw small sums. 150 baht on 20,000 is sub 1%. 150 baht on 5,000 is chunky. I know that economists will say that a flat fee is 'pure' (cost reflective) but maybe a sliding scale would be 'fairer'

Edited May 4, 2009 by SantiSuk

[aglae4]

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

I will add to your confusion!!!!

This is what happened to me today (at JungCeylon, Patong). I tried to get 20000 Bahts at a ATM from Bangkok Bank and got the message that the transaction could not be executed because there were no receipts. I just moved to the next ATM and while I was waiting noticed that a thai man, that was just behind me there, could withdraw money an got a receipt. At the second ATM I got the message that I would be charged 150 Bahts. I accepted, got the money and a receipt. I suppose that one of the 2 ATM was not updated yet.....

Next time I'll go to Kasikorn. Thanks for the info!

[steffi]

I see the fee going to 120 Thai baht after an article like this.

[Chayaphum]

anyway.....the ATM's from the same bank dont use the same software/firmware.

One ATM from Bank of Ayuthaya told me about a limit of $2000 per transaction

the next ATM just said THB 20'000, thats a little different.

The only ATM that gives THB 25'000 in one time are from Bangkok Bank.

(thats the limit about security reason)

Chayaphum

[surfaxxis]

wooohoooo - :-))))))

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

I've stopped using my regular bank, Siam Commercial Bank, for foreign account ATM withdrawals, as I refuse to pay the Baht 150 per transaction fee - ontop of my own bank's transaction fee (apprx Baht 100), especially when the ATM withdrawal is limited to a max of only Baht 20,000. Siam Commercial Bank previously had a fe of Baht 20, which for conveniences sake I could live with, but not Baht 150!!! Too much, particularly when you think that there's also a foreign exchange margin there in the transaction too!

I have already protested to the manager of my local Siam Commercial Bank, which was met with the expected response that it was head office etc etc. But I asked that at least this be reported back to their head office.

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. Am not sure about other banks?

BBK bank DOES charge 150bht

[punisher]

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 !!!!

only 2.95 cheap,german postbank charge 5.50 euro over 250baht,i hv to go 4 times per month ,thats 250+150=400bahtx4=1600baht

[NHC]

The best way is:

1. Use your abroad e-banking system to wire the money into your Thai account. Make sure you transfer in your foreign currency, USD/EUR/NOK or so on. That way the transaction is exchanged in Thailand for a competitive rate. Usually takes 2 days.

2. All banks have counter Visa card machine. Withdraw (for my case) up to 250,000 Baht per transaction. And deposit to your Thai account. You will get Visas exchange rate plus your local banks markup (usually 1.5%) if any. Fastest way!

THE PROBLEM WITH THE ABOVE IS: The US banks do not allow a person to wire funds through wire transfer unless they are physically present at the bank branch to sign off on the paperwork. The one exception is if you have a co-signer on the account that can go to your bank in the US and personally sign the paperwork at the bank. That has been my experience being an American and also the experience of my American friends here in Thailand.

Thoughts anyone? GO!

Edited May 4, 2009 by NHC

[Johpa]

A friend of mine works for VISA in the U.S. According to him, when a vendor has a VISA terminal in their store, it is a violation of contract to charge more for credit/debit card transactions than for cash. Everyone does it though in Asia, I guess the banks thought they would climb on board that gravy train too...

Isn't it rather insidious that, at least in the US, the Mastercard/VISA monopoly contracts prohibit all merchants from assessing fees for accepting these cards but does allow their peers in the financial service sector, the banks, to accept the same fees prohibited to merchants. What you are beginning to see in the US are small merchants no longer accepting these cards, or restricting the use of the reward style cards that carry higher fees.

As for Paypal, be very careful. As others have noted, their exchange rates are very high.

Given the very low interest rates one receive from banks these days, you are actually better off just bringing over a large wad of cash.

[Mali1964]

A friend of mine works for VISA in the U.S. According to him, when a vendor has a VISA terminal in their store, it is a violation of contract to charge more for credit/debit card transactions than for cash. Everyone does it though in Asia, I guess the banks thought they would climb on board that gravy train too...

Isn't it rather insidious that, at least in the US, the Mastercard/VISA monopoly contracts prohibit all merchants from assessing fees for accepting these cards but does allow their peers in the financial service sector, the banks, to accept the same fees prohibited to merchants. What you are beginning to see in the US are small merchants no longer accepting these cards, or restricting the use of the reward style cards that carry higher fees.

As for Paypal, be very careful. As others have noted, their exchange rates are very high.

Given the very low interest rates one receive from banks these days, you are actually better off just bringing over a large wad of cash.

Have you ever exchange foreign notes at a Bank here be prepared

1. For a lower rate than ATM TT & T/Cheques rates.

2. They photo copy every note a make you sit there & sign off on every copy, & still require a copy of your passport. (note this was Bangkok Bank)

3. I was once pulled over at a UK airport as i was about to board the aircraft it was customs looking for people with large amounts of cash on them leaving the country i never had any on me & i don't know what the limits are but large wads of cash are just not worth the many risks including being robbed for it.

[jwisland]

<THE PROBLEM WITH THE ABOVE IS: The US banks do not allow a person to wire funds through wire transfer unless they are physically present at the bank branch to sign off on the paperwork. The one exception is if you have a co-signer on the account that can go to your bank in the US and personally sign the paperwork at the bank. That has been my experience being an American and also the experience of my American friends here in Thailand.

Thoughts anyone? GO!>

Not true. Depends on your US bank. I bank with BOA. I simply logged on, setup an "outside account", scrolled down to "Bangkok Bank", entered the routing and account number, and they send TWO small transfers (around a dollar each) to verify that the account is correct (no charge), and within 48 hours you verify that the amounts have arrived. Log back in, enter the amounts as transferred, and you are done. I then was able to wire $25,000 usd from BOA to Bangkok Bank, which arrived in my account in 48 hours. Wire charge was $9.00 usd. Maybe you're having trouble with your bank, but there is no law restricting wire transfers without you being there in person. There "may" be a restriction if your bank does not have a Thai bank on its list. BOA does. No problem. Everything accomplished over the Internet without speaking to anyone. From here on, it's a simple "transfer between accounts". Hope this helps.

Edited May 4, 2009 by jwisland

[bertus]

Many of these global money transfer businesses I have seen recommended here all charge hidden dishonest currency conversion fees. It's dishonest because they say it's just to make up for currency volatility when in reality the fee is used to generate profits. Further they usually don't disclose the fee except in small print at the bottom of their pages. The UK one I visited charged 2%. I doubt they lose 2% due to currency volatility. And thats 20 per 1000! It's very significant.

Far as the Thai Banks let them just charge the cost whatever it is thats whats fair. But they should accurately compute and disclose it. If they make a tourist feel ripped of at his first transaction in Thailand I guarantee they are going to cost Thailand a far higher price!

[bkk_mike]

...

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 January 2008 under cross-border agreements. Since then, no other fee increases have been made related to ATM charges.

...

Well, a 0.2% increase is THB 40 (assuming max withdrawal of THB 20,000) for one. Mastercard & Visa aren't exactly your friendly neighborhood boyscout types; their hidden charges and "specially tailored" exchange rates (way below TT rates) reek of vulture department... I'm not saying that Thai banks aren't part of the suck-some-cash game, but me thinks in this case, they're more part of the good guys (well, that's mighty relative) than of the bad ones.

Visa and Mastercard add about 2% in the exchange rate right? TT do not, but the fixed fee is about $40.

No they don't... The bank that issues the card often does, but Visa and Mastercard don't.

i.e. You'll often find your bank has a charge for using the card in an ATM abroad, and that they also add a spread on the FX rate (i.e. your home bank is already charging you twice for the same transaction. Admittedly, they're the ones that have to pay visa, so they do have to charge something..., but they are already taking the piss.

The Thai bank charge is simply a third charge, and given they're not the ones paying visa, suggesting they are is straightforward deceipt.

However, they do have to pay someone to restock the ATMs, so a small fee is reasonable, similar to the fees you get out of province between Thai banks... i.e. the 20 baht fee that SCB had introduced a couple of months ago was acceptable.

For now, the best way to transfer money seems to be large TT from home bank to a local bank account in Thailand in home currency (£9.50 fixed charge with Bank of Scotland). Then take out the money at the local ATM using the local bank card. The 150 baht fee swamps the normal FX rate benefit of using the ATM (with a bank with no spread).

Maybe over the counter is OK, but my local SCB only lets me take out money over the counter with credit cards. Not with my debit card.

Edited May 4, 2009 by bkk_mike

[Pib]

Thai banks are simply gouging farangs with this VERY high ATM fee...and it's a shame the Thai banks are trying to blame Mastercard/Visa for the increased fee...it's kinda like throwing a stick for a dog to go chase...but when the dog comes back, the stick thrower (i.e., Thai banks) has run off with a 150 Baht ATM fee...the dog needs to find the thrower and just bite him (i.e., do some serious complaining about the fee..stop doing business with that bank)! Amazing Thailand!

[Mali1964]

For those UK members interested in the Nationwide Cirrus Cash Card use i have today sent an e mail to the Government Savings Bank if anyone can locate an e mail for the Bank for Agriculture and Agricultural Cooperatives Link here! i will copy them in also.

http://www.baac.or.th/baac_en/index.php

Hello

Today my wife in Kaset Wisei Roi Et province went to your branch ATM with a cirrus card, the ATM refused her, she crossed the road where Kasikorn ATM dispensed the cash required,can you confirm if your ATM's can take cirrus which is part of the Mastercard network

Thank you.

Note!! this is the only true fee free combination available from any UK bank as Nationwide are soon to implement a 1% fee to the use of their Debit Card in Thailand, as of now though i can only confirm that its good in Kasikorn ATM'S unless other Cash Card holders can confirm otherwise.

[NHC]

<THE PROBLEM WITH THE ABOVE IS: The US banks do not allow a person to wire funds through wire transfer unless they are physically present at the bank branch to sign off on the paperwork. The one exception is if you have a co-signer on the account that can go to your bank in the US and personally sign the paperwork at the bank. That has been my experience being an American and also the experience of my American friends here in Thailand.

Thoughts anyone? GO!>

Not true. Depends on your US bank. I bank with BOA. I simply logged on, setup an "outside account", scrolled down to "Bangkok Bank", entered the routing and account number, and they send TWO small transfers (around a dollar each) to verify that the account is correct (no charge), and within 48 hours you verify that the amounts have arrived. Log back in, enter the amounts as transferred, and you are done. I then was able to wire $25,000 usd from BOA to Bangkok Bank, which arrived in my account in 48 hours. Wire charge was $9.00 usd. Maybe you're having trouble with your bank, but there is no law restricting wire transfers without you being there in person. There "may" be a restriction if your bank does not have a Thai bank on its list. BOA does. No problem. Everything accomplished over the Internet without speaking to anyone. From here on, it's a simple "transfer between accounts". Hope this helps.

Ok granted Bank of America may have this set up the way you describe. I deal exclusively with Wells Fargo Bank and my other friends deal with Washington Mutual Bank or Union Bank. We all pretty much collectively HATE Bank of America since they seem to ding folks for almost every bit of business a guy does with them.

At this point, that water has already flowed under the bridge, at least for me. I went "all in" about a month+ ago when the Baht was at 36.00. I opened up two accounts at Kasikorn. Both savings. One for the 800,000 and one for playing and building my house here. The one problem I ran into was the form required by the Bank of Thailand. The one that wants to know why you are bringing hundreds of thousands of US dollars into Thailand. (i.e. - what purpose) Well, Kasikorn LOST the paperwork on my big account and then they froze the funds and basically blamed me for not filing this paperwork with the Bank of Thailand. That was scary for a few days until I went in and sorted it out with the manager of the bank. (Fashion Island Branch) Amazingly, even after I demonstrated that it was totally their fault for losing the paperwork and that I had, in fact, filled it out and signed it, I never received an apology.

That's what I get for staying calm and smiling and nodding a lot. Bunch of Jackasses. TIT. Sigh...

[Badboldie]

I also have a nationwide card in the Uk as well. Used it for yrs and always got rate of day and never got charged any commission. Nationwide have alway absorbed and charges from other banks, but this about to change: As from the 1st june 09 Nationwide will be passing on some of these charges to the customer (US) From 1 june 09 it will be 0.84% and from 1 July 09 it will be 1%.

Nationwide also has a "cash card account" which does not use visa, so there is no charge when using this card.

Trouble is you cant get a cash card if you already have Nationwide account!

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 !

No sorry but it is you that is wrong Bank of Ayuthyah are not making any charge, not for my card anyway which is with the Nationwide Bank in the UK.

Regards David

[SurfRider]

"I just did 300 US dollars 2 weeks ago and the amount that went into the account was 10,340 baht. I'm a bit amazed that Paypal doesn't take anything off the top from when I transfer money from American Paypal to Thai Paypal."

OK, here are the calculations for your transaction:

You said "two weeks ago", so I assumed April 20

The ATM rate at the close of business that day was 35.40 - you received a rate of 34.466

You said: "300 US dollars 2 weeks ago and the amount that went into the account was 10,340 baht"

If you had done the transaction at an ATM, you would have received 10,620 Baht, or an additional 280 Baht ( approximately an additional US $8 )

Maybe you see it as "Paypal doesn't take anything off the top", and to some people, a petty 280 Baht isn't worth discussing-- but if you transfer funds on a regular basis from a foriegn account, it adds up. ( not to mention the new additional 150 Baht usury fee that is currently being charged by some Thai banks )

In my case, the PayPal method would cost me an additional 16,812 Baht in one year, or US $588, compared to a direct ATM Debit Card transaction. ( and that's living on a VERY modest budget -- almost any Expat could multiply these numbers by several times to see their additional cost of using the PayPal method )

Personally, I'd rather use that money for something other than enriching PayPal's coffers

.

[Phaka2]

Not true. Depends on your US bank. I bank with BOA. I simply logged on, setup an "outside account", scrolled down to "Bangkok Bank", entered the routing and account number, and they send TWO small transfers (around a dollar each) to verify that the account is correct (no charge), and within 48 hours you verify that the amounts have arrived. Log back in, enter the amounts as transferred, and you are done. I then was able to wire $25,000 usd from BOA to Bangkok Bank, which arrived in my account in 48 hours. Wire charge was $9.00 usd. Maybe you're having trouble with your bank, but there is no law restricting wire transfers without you being there in person. There "may" be a restriction if your bank does not have a Thai bank on its list. BOA does. No problem. Everything accomplished over the Internet without speaking to anyone. From here on, it's a simple "transfer between accounts". Hope this helps.

Same here. I do a bank to bank transfer on-line from my USA bank to Bangkok Bank in New York. The money goes directly to my Bangkok Bank Rayong account. There are no fees and the exchange rate is always at the top of the scale. It takes about three business days.

[ComicBum]

I would have thought a substantial weakening of the Thai Baht would have a better effect. Plenty of tourists 2 years ago because what counts is value for money.

'Value' can be found in the expat average lifestlye in Thailand, but I wonder about the beaten-to-death- tourist path. Last month my 25yr old nephew and friend came to Thailand for their first and most likely their last visit to Thailand. The 2 months they traveled south to north they got plenty tired of being fleeced every step of their way. Finally they flew to Balito "escape" Thailand and said to have enjoyed it there much more.- cheaper everything and with "real" local people.

There is a new generation of travelers landing daily to LOS and a new generation of 'blood-sucking leeches' ready for business.

Next time I take my family to the south for a beach holiday I am heading WAY south, like to Langawi - The Thai-holiday has lost a great deal of value over the years and Thailand seems to be carving out a bad reputation for un-happy holidays.

[endure]

Well, Visa issued a statement, that they did not initiate anything new and that they are negotiating with Thai banks to cancel this stupid 150 THB fee. It is just another way to suck some money from those farangs. Now I have to go to a life tenner, line up with all those customers and get my Visa cash into my Thai account. You can get 20.000THB at max out of those ATMs with +150THB each, so this will lead to another +pan bath every month in LOS...

Time to move to Laos

Ralf

A friend of mine works for VISA in the U.S. According to him, when a vendor has a VISA terminal in their store, it is a violation of contract to charge more for credit/debit card transactions than for cash. Everyone does it though in Asia, I guess the banks thought they would climb on board that gravy train too...

That's because the rules in Asia are not the same as they are in the US. Here in the UK it's legal to charge more for a credit card transaction than for cash too.

[bikerlou47]

To avoid the fees I take my Visa debit card into the bank and get cash. The exchange rate is as good as ATM rate.

There are no fees on either end.

I stopped my wire transfers as I was being charged 40 USD by my American Bank and the exchange rate was not in line with the ATM I checked this by using my ATM on the same date s the wire transfer.

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.