Fed Up Paying The 150 Baht Bad Falang Fee?

[vagabond48]

You don't say where on the stretch - the cheaper one could be 3 miles down the road.

It 's hard to figure how a person could travel half way around the globe on his own, but not be able to work out ways of transferring money into the country other than through the 150 bht ATM route.

The problem is that some people ignore what is expressed here.

I think the most of the people who are complaining are the ones criticizing those who are suggesting (not demanding or ridiculing) ways of easily saving some money. If some of you don't want to do that, I certainly would not criticize or ridicule your decision. I am sure the people who receive your extra money (donations) are very grateful.

The information stated in all these threads are all about choices. I for one, choose not to transfer large sums into a Thai bank, while some of you do.

Soooooooooo what.

There are two gas stations on the same stretch of Sukhumvit Road...metaphorically speaking....

One charging 30 baht per litre... The other charging 45 baht per litre... Same gas... same basic service...

To all those here who would do business with the 45 baht per litre place, and not care that there was a 30 baht per litre station just down the street, bless your hearts...

But if that's the way you spend your money... hard to figure...how you managed to save any...or how you'll have enough to keep for the future.

Continuing the logic that jfc started, if you get 50 litres and had a choice of paying 45baht/liter versus 30b/liter down the road. How far down the road would you go to save 750b. Perhaps 20k roundtrip (12 miles) and another 30 minutes, doesn't sound too far to save $23US (minus the cost of your gas). When is the last time most of you made an easy no brainer $44US tax free.

[BWPattaya]

What I don't understand is, all these people complaining abut this ATM fee; why don't they use a Thai bank account instead? You live here presumably?

At last. A voice of reason. Changing the banking practices, you may as well try and stop the sun rising. Just get a local bank account.

I used a bank of Ayuddaya today using a UK card. No extra charge made. I normally use either my Kasikorn or Siam Commercial cards but had left them at home.

However, when all of this contovery started I did feel that the banks had a right to charge for the ATM use. The machines cost money to buy, to service and maintain a cash flow. They want paying for that service.

How many of the complainers would like to supply a machine of some kind for free use by any visitor? Free car, camera to help you enjoy a holiday anyone?

Edited October 15, 2009 by BWPattaya

[rixalex]

However, when all of this contovery started I did feel that the banks had a right to charge for the ATM use. The machines cost money to buy, to service and maintain a cash flow. They want paying for that service.

I thought that banks saved money by getting customers to use ATMs, as it saves them all the time and money it would take dealing with all those customers, were they to suddenly be flooding through their doors for every single transaction. For a start, just think of all the extra bank tellers they would need to employ.

[britmaveric]

^It does - ATM expenses are minimal compared to staffing. Basically a practice to charge you for using your own dosh.

[vagabond48]

However, when all of this contovery started I did feel that the banks had a right to charge for the ATM use. The machines cost money to buy, to service and maintain a cash flow. They want paying for that service.

How many of the complainers would like to supply a machine of some kind for free use by any visitor? Free car, camera to help you enjoy a holiday anyone?

I guess you may have forgotten that the Automatic Teller Machine was invented to cut down on the number of real tellers so these machines are saving the banks loads of money by having fewer tellers and smaller bank sizes. Using your logic, the banks if they choose, can begin charging customers every time a customer steps up to a teller to conduct some sort of banking business, deposit, withdrawal, update pass book, etc..

[BWPattaya]

However, when all of this contovery started I did feel that the banks had a right to charge for the ATM use. The machines cost money to buy, to service and maintain a cash flow. They want paying for that service.

I thought that banks saved money by getting customers to use ATMs, as it saves them all the time and money it would take dealing with all those customers, were they to suddenly be flooding through their doors for every single transaction. For a start, just think of all the extra bank tellers they would need to employ.

When cash machines (they weren't called ATMs then!) were introduced in the UK i said to a bank employee who was praising them that they wouldn't be so happy when most of the staff would be out of a job. Go into a UK bank now and compare the number of staff to what we had years ago. Compare the numbers of staff and the quality of service to the banks here in Thailand. Give me Thai banks any day.

Banks are in business to earn money. They are not there to provide a free service for tourists.

Waiting for the whingers to have a good moan now...........

[BWPattaya]

Basically a practice to charge you for using your own dosh.

But you are not withdrawing your own money. You are withdrawing the bank's money that the bank has placed inside their machine, their money. They then have to get it from the bank abroad. If you carried the cash over then you can say it is your money.

If I ask you for 10,000 Bt and say you can collect it from my UK bank would you agree?

[jfchandler]

I think I pretty clearly said...

There are two gas stations on the same stretch of Sukhumvit Road...metaphorically speaking....

But then, some people choose to avoid the obvious...

Around Bangkok, at least, there are AEON ATMs all around...

[britmaveric]

Basically a practice to charge you for using your own dosh.

But you are not withdrawing your own money. You are withdrawing the bank's money that the bank has placed inside their machine, their money. They then have to get it from the bank abroad. If you carried the cash over then you can say it is your money.

If I ask you for 10,000 Bt and say you can collect it from my UK bank would you agree?

If I could be their instantly as electronic funds are then surely I would. It takes no effort on banks part - so I think your reasoning is faulty.

[rixalex]

Banks are in business to earn money.

True, but surely the way to do that is by offering a good and fair service.

To have gone from charging nothing to charging 150 baht is quite a leap wouldn't you say? Is it justified? I'll be honest and say that i don't understand enough about this particular issue to say whether it is or isn't. What i will say is that banks do have a well-earnt reputation for taking the piddle when it comes to charges, so it wouldn't come as a surprise to me if this was simply a bit of oppurtunist money-making, rather than a reasonable covering of expenses.

[britmaveric]

Think 20bht would of been more a realistic charge and doubt most would have batted an eyelid.

[vagabond48]

But you are not withdrawing your own money. You are withdrawing the bank's money that the bank has placed inside their machine, their money. They then have to get it from the bank abroad. If you carried the cash over then you can say it is your money.

You are correct that it is the bank's money until it comes out of the ATM machine as my money. When I request a withdrawal of cash, before the money comes out of the machine, the Thai bank has already deducted my money from my account and converted my money into bahts, so what comes out is their machine is now my money. There is a hidden foreign exchange fee that I am sure the Thai bank is getting a piece of. This is the miracle age of internet banking.

[ThailandLovr]

I suppose even AEON will eventually start charging the fee also. But I am far more concerned about the direction of the USD. That swamps other worries for me.

[rixalex]

Think 20bht would of been more a realistic charge and doubt most would have batted an eyelid.

Agreed. In fact 30, 40 or even 50 baht would i think have been received ok.

150 baht just screams of unjustified greediness - something the banks are good at.

[ballzafire]

The Aeon website links don't work for me for some reason (I get a "400: Bad Request" error)

Could some kind soul do me a favor and list all the ATMs available in Songkhla province? I would much appreciate it.

As I stated earlier, the sole one I know of got boarded up recently and I am hard-pressed to find another.

Thanks!

[ThailandLovr]

Think 20bht would of been more a realistic charge and doubt most would have batted an eyelid.

Agreed. In fact 30, 40 or even 50 baht would i think have been received ok.

150 baht just screams of unjustified greediness - something the banks are good at.

Yeah. I think I read somewhere that many Thai work an entire day for only about 170 baht.

[vagabond48]

Could some kind soul do me a favor and list all the ATMs available in Songkhla province? I would much appreciate it.

Here are the 2 listed. I must warn you that they don't properly update the website.

1 AEON Spot Hat Yai Julladhit Had Yai Plazza 1st Fl., 200 Room No.102,104,106,108,114,116, Niphatuthit 3 Had Yai , Songkhla 90110 Tel. (074) 271000

Open : 9.00

Close : 21.00

2 AEON Spot Carrefour Hadyai 677 Carrefour Hadyai Petkaseam Rd., Hadyai , Songkla 90110 (074)469181-2 (074)469-183

Open : 9.00

Close : 21.00

[ballzafire]

Could some kind soul do me a favor and list all the ATMs available in Songkhla province? I would much appreciate it.

Here are the 2 listed. I must warn you that they don't properly update the website. 1 AEON Spot Hat Yai Julladhit Had Yai Plazza 1st Fl., 200 Room No.102,104,106,108,114,116, Niphatuthit 3 Had Yai , Songkhla 90110 Tel. (074) 271000 Open : 9.00 Close : 21.00 2 AEON Spot Carrefour Hadyai 677 Carrefour Hadyai Petkaseam Rd., Hadyai , Songkla 90110 (074)469181-2 (074)469-183 Open : 9.00 Close : 21.00

Thanks!! Didn't know Carrefour had one. Have never seen it. I'll have to hunt it down next time I'm there...

[sabaijai]

I'm getting tired of deflating this old hot air balloon... but...

I think you'd pretty well find that almost all the people here who take a serious interest in the 150 baht ATM fee issue are people who live in Thailand and DO have Thai bank accounts, probably more than one.

The dividing point is the difference between people who earn their money locally in Thailand, and thus have their earnings deposited directly in local banks, and thus aren't concerned about this issue, and the rest of us who earn or receive our incomes abroad, and then have to find the best ways to access/move those funds here for living expenses.

So for all the assorted folks who keep whinging on about "get a Thai bank account," the next time I hear that, I'm gonna take my Thai bank ATM cards and shove them up your...

I'm not sure why you're having trouble understanding the concept.

I earn money abroad but have never once paid the 150 baht fee because I would never use a foreign ATM card in Thailand. With online banking, I pay zero transfer fees. but even when I use SWIFT transfers the fees are quite reasonable assuming you only transfer funds to your Thai account a few times a year. Anyone living in Thailand and using a foreign ATM card to withdraw funds on a regular basis need to be a little more organised, IMO, if the 150 baht fee bothers them.

[jfchandler]

I have trouble understanding the concept of dumb people who keep telling those of us who already have Thai bank accounts already to go and get a Thai bank account.

I have trouble understanding the concept of people who think that the reason people complain about the 150 baht ATM fee is because they lack Thai bank accounts, when that's rarely the case.

I have no problem to use my U.S. debit cards here in Thailand, because I make sure that I do so in a way that I pay no fees....and get the full exchange rate, by being smart in what bank account/bank cards I use.

I like to draw down my funds in small amounts, rather than send them in bigger monthly amounts, because it serves as means of self-budgeting... That's my own personal choice.

What I don't know off-hand, Sabaijai, is what generally available U.S. banking operation/account offers fee-free international funds transfers via online banking, as you say above?? Except maybe for HSBC, if you keep more than $100,000 with them earning almost no interest. Most U.S. banks charge fees for that, sometimes pretty large ones.

So if your account provides fee-free international funds transfers via online banking, that's great. Which one are you using that provides that, and what kind of minimum requirements are necessary to have it?

Edited October 16, 2009 by jfchandler

[vagabond48]

jfc, there are now 3 threads going on regarding the ATM topic.

I am beginning to think it's a waste of time replying to those who are very sure that they have the best solution to meet everyone's needs and are surprised that some of us don't agree. They don't seem to realize that there are some here that live on a lot less and can comfortably depend on debit card withdrawals. Too much ego tripping going on here.

You also hit on some possible reasons why some get either low cost or free fund transfer, like possibly getting a lower exchange rate or keeping a very large sum of money earning low to no practical interest. I think I will just share the information I have, and let those interested, choose if the solution presented here are viable for them.

Actually a part of me hopes that not to many people use either the fee free debit cards or fee free machines so these benefits aren't withdrawn due to overuse.

[jfchandler]

I'm waiting to hear Sabajai's answer... I don't know what method he's using. I'm interested to know...

But as for the HSBC Premiere service, as it's called, FOR ME, it would be crazy to park $100,000 with them earning virtually no interest in return for getting free international funds transfers, especially when HSBC-U.S. never seemed to offer particularly good exchange rates.

As we've learned collectively here, there's a lot better/efficient/profitable ways to hold and move your money.

One exception, though, might be that I seem to recall HSBC saying that a home mortgage balance with them would count toward the required Premiere balance, along with any of a person's HSBC accounts, CDs, etc. So if one qualified thru their home mortgage, then you wouldn't be losing anything by taking advantage of that service.

[rixalex]

I'm waiting to hear Sabajai's answer...

You're not alone.

[donx]

Well only save dosh if the area the ATM is in isnt out of your way. If you are making a concerted effort to go out of your way in the end you will be wasting more time and dosh then prob slapping down the 150bht fee.

I think the solution is to drop some dosh into a thai local account. Then all your worries are gone.

Not rocket science is is it Brit? But then there would be something else to moan about , that is for sure.

I think the 150 baht is more of a hindrance for tourists really, and I don't particularity think it is good, but anyway spending any lenght of time here should look at the options available, as there are plenty.

I'm not a tourist, but the 150 baht is a hindrance for me. I don't live in Thailand, but my in-laws do. We provide them with an ATM card for them to get money once or twice a week. For me to be able to save 150 - 300 baht/month is significant.

I would also like to say that because of this whole issue of the 150 baht fee, I discovered that the ATM card they used to use was charging a $1 fee plus costing an additional 1.5% in exchange rate fees. Now they use an ATM card that doesn't charge the $1 fee, it doesn't charge (or charges a fractional) exchange rate fee and all the 150 baht fees are refunded to me at the end of the month. So the way I see things, I'm saving much more than the 150 - 300 baht fee each month. It is probably somewhere between 600 - 1000 baht each month.

[jfchandler]

Bravo... DonX... Glad to see you picked up the ball and ran with it...

As another poster in another thread here commented, every dollar one saves by being smart about one's finances is another dollar that your inlaws can spend in Thailand on face whitening cream...

[mrtoad]

Well only save dosh if the area the ATM is in isnt out of your way. If you are making a concerted effort to go out of your way in the end you will be wasting more time and dosh then prob slapping down the 150bht fee.

I think the solution is to drop some dosh into a thai local account. Then all your worries are gone.

Not rocket science is is it Brit? But then there would be something else to moan about , that is for sure.

I think the 150 baht is more of a hindrance for tourists really, and I don't particularity think it is good, but anyway spending any lenght of time here should look at the options available, as there are plenty.

I'm not a tourist, but the 150 baht is a hindrance for me. I don't live in Thailand, but my in-laws do. We provide them with an ATM card for them to get money once or twice a week. For me to be able to save 150 - 300 baht/month is significant.

I would also like to say that because of this whole issue of the 150 baht fee, I discovered that the ATM card they used to use was charging a $1 fee plus costing an additional 1.5% in exchange rate fees. Now they use an ATM card that doesn't charge the $1 fee, it doesn't charge (or charges a fractional) exchange rate fee and all the 150 baht fees are refunded to me at the end of the month. So the way I see things, I'm saving much more than the 150 - 300 baht fee each month. It is probably somewhere between 600 - 1000 baht each month.

Well that is fair enough, but of course people have different circumstances and make different arrangements. The arrangements that I make mean that I am not hindered by the 150 bht fee. As I will try to reiterate to a certain poster -there are options available which can greatly reduce the cost of bringing money in from overseas.

However, I still think that anyone here living full time/long term should be looking at more efficient ways of bringing money in.

Just to reassure JFC - I don't like the fee and I think it is unfair and well over what should be charged. To me it does reinforce my own belief that the banking system in general is the largest extortion racket going.

[rixalex]

Just to reassure JFC - I don't like the fee and I think it is unfair and well over what should be charged. To me it does reinforce my own belief that the banking system in general is the largest extortion racket going.

Here here.

Complete bunch of bankers the lot of them!

[TheGoodDoctor]

TDAmeritrade Brokerage lets me make free ACH domestic transfers. I don't know if there are account minimums that need to be met for it to be free. It costs me NOTHING to get money from my TD Brokerage to my Bkk Bank account.

[TheGoodDoctor]

Whoever came up with the idea must be patting themselves on the back. Everywhere you look, you see a farang going to the ATM and coughing up 150 baht. They don't hate you, they love you.

Edited October 17, 2009 by TheGoodDoctor

[jfchandler]

Good Doctor, you ought to be a bit more clear and honest with your comments.

If you're doing a domestic ACH transfer, as you say below, from TD to the New York Branch of BKK Bank and then onto Thailand, the New York branch is charging you a fee and BKK Bank in Thailand is charging you a fee for receiving the incoming funds. The TD part may be free, but the rest is not.

TDAmeritrade Brokerage lets me make free ACH domestic transfers. I don't know if there are account minimums that need to be met for it to be free. It costs me NOTHING to get money from my TD Brokerage to my Bkk Bank account.