3 Things that will make your relationship successful in Thailand

[gehfab]

Hi,

can I avoid the ATM fees by going directly to a bank counter, say SCB or Krungsri, and use my Credit Card from my home country for a withdrawal?

Which charges may apply there?

Maximum withdrawal from a ATM is 20.000 + 150 Baht fees, but If I need more, say 60.000 Baht

20.000 + 150 Baht

20.000 + 150 Baht

20.000 + 150 Baht

450 Baht Thai fees? (I have a fee free Credit Card for three withdrawals in a month)

Thanks

[david96]

Hi,

can I avoid the ATM fees by going directly to a bank counter, say SCB or Krungsri, and use my Credit Card from my home country for a withdrawal?

Which charges may apply there?

Maximum withdrawal from a ATM is 20.000 + 150 Baht fees, but If I need more, say 60.000 Baht

20.000 + 150 Baht

20.000 + 150 Baht

20.000 + 150 Baht

450 Baht Thai fees? (I have a fee free Credit Card for three withdrawals in a month)

Thanks

Fee Free may be only on transactions in your home country. I have a Visa CC and on 62000THB was charged

about 2300THB, two separate fees, O/S cash withdrawal fee and O/S transaction fee.

[JimGant]

can I avoid the ATM fees by going directly to a bank counter, say SCB or Krungsri, and use my Credit Card from my home country for a withdrawal?

A credit card would be a disaster. First, you would normally pay a 'cash advance' fee charged by your issuing bank. Then, interest rates on the 'cash advance' (borrowed money) would kick in immediately.Then, some banks (like SCB) would charge you a DCC rate for a 'cash advance,' which adds another 3.5% to your costs. Then, most likely, a foreign transaction fee levied by the network (Visa or MC) would apply.

I have a fee free Credit Card for three withdrawals in a month

Never heard of that.........are you confusing a credit card with an ATM/Debit card? Or is that 'fee free' for three 'cash advances?' Even so, you'll still be stuck with the other charges.

Now, if you're talking about an ATM/Debit card, recent examples on this forum have indicated you might enjoy all the ATM exchange rate positives by going to the counter, plus the waiving of the 150 baht surcharge.

[Ralf61]

can I avoid the ATM fees by going directly to a bank counter, say SCB or Krungsri, and use my Credit Card from my home country for a withdrawal?

A credit card would be a disaster. First, you would normally pay a 'cash advance' fee charged by your issuing bank. Then, interest rates on the 'cash advance' (borrowed money) would kick in immediately.Then, some banks (like SCB) would charge you a DCC rate for a 'cash advance,' which adds another 3.5% to your costs. Then, most likely, a foreign transaction fee levied by the network (Visa or MC) would apply.

I have a fee free Credit Card for three withdrawals in a month

Never heard of that.........are you confusing a credit card with an ATM/Debit card? Or is that 'fee free' for three 'cash advances?' Even so, you'll still be stuck with the other charges.

Now, if you're talking about an ATM/Debit card, recent examples on this forum have indicated you might enjoy all the ATM exchange rate positives by going to the counter, plus the waiving of the 150 baht surcharge.

I do this every month,

Since they introduced this foreign Credit Card ATM fee, I got used to do my monthly money transfer into my Thai Bank Book over the bank counter, using my credit card. My credit card is free of cash advanced fee, as long as my credit card account is ahead (i.e. shows a Plus-balance, covering the amount I would like to transfer). No further charges, neither from Thai bank, nor from Farang bank. The CC cash advance conversion rate is somewhat (about 0,5%) worse than direct bank transaction, but direct account to account transaction would cost 15EUR + 1,5% of the amount transferred. Make sure, you have such a nice credit card. Most CC companies charge 3,5% fee or 3,5% interest, respectively.

Ralf

[gehfab]

Thanks for your input !

When I made a withdrawal at a (Thai) ATM with my German MasterCard, they charged me the 150 Baht Thai ATM fee, nothing else. I do have plus-balance on my bank account at my German bank (the bank which issued my MasterCard) and I do have the amount of money which I would like to spend. As I need 60.000 Baht, I'm forced to withdrawal 20.000 Baht three times at a ATM + three times 150 Baht Thai ATM fee.

Today I've asked a Kasikorn Bank teller. They can withdrawal me 20.000 Baht from my MasterCard (just like the ATM) maximum.

[JimGant]

Ralf,

I guess I have heard of pre-paying your credit card account by enough to cover any cash advance. And, I also heard that some banks would still charge you a cash advance fee -- even tho' it's your money you're advancing. Your bank obviously doesn't.

Siam Commercial Bank has some hefty charges coincident with their exchange rates for credit card "cash advances." (See the bottom of THIS PAGE)

You'd probably get a blank stare if you demanded a better rate 'cause your account if pre-paid.

[nakachalet]

there are several persons who kept on insisting that ayudhaya does not charge the 150 baht fee....

perhaps in your particular regions, there is no 150 baht fee charge....

but in the south, as i stated three or four times before that even ayudhaya would charge the 150 baht fee like any other banks....

around noon today, i stopped by another atm of ayudhaya, and it still asked if i want to go ahead with the transaction when the fee of 150 baht is imposed....

naturally, i decline.... lol

[OriginalPoster]

there are several persons who kept on insisting that ayudhaya does not charge the 150 baht fee....

perhaps in your particular regions, there is no 150 baht fee charge....

but in the south, as i stated three or four times before that even ayudhaya would charge the 150 baht fee like any other banks....

around noon today, i stopped by another atm of ayudhaya, and it still asked if i want to go ahead with the transaction when the fee of 150 baht is imposed....

naturally, i decline.... lol

The exchange rate that you get from a teller vs an ATM machine will be the same but your bank my impose fees for the teller transaction. It depends upon the bank. When I use my credit union ATM card I get the same rate at the counter as with the ATM (but without the 150 baht ATM fee), meaning that it's always better to use the teller. However when I use my Fidelity ATM card Fidelity charges me 1% of the total transaction amount and the charge 0% if I use the same card at an ATM, meaning that an ATM with a 150 baht fee would be a better deal I were to withdraw more than 15000 baht in one shot.

[JimGant]

However when I use my Fidelity ATM card Fidelity charges me 1% of the total transaction amount and the charge 0% if I use the same card at an ATM, meaning that an ATM with a 150 baht fee would be a better deal I were to withdraw more than 15000 baht in one shot.

Obviously you use a pin with the ATM transactions, but are you using a pin at the counter -- or signing? (Assuming your ATM cards are also Debit cards, thus allowing the option to sign.)

[OriginalPoster]

However when I use my Fidelity ATM card Fidelity charges me 1% of the total transaction amount and the charge 0% if I use the same card at an ATM, meaning that an ATM with a 150 baht fee would be a better deal I were to withdraw more than 15000 baht in one shot.

Obviously you use a pin with the ATM transactions, but are you using a pin at the counter -- or signing? (Assuming your ATM cards are also Debit cards, thus allowing the option to sign.)

At the counter I've been signing a charge slip instead of using a PIN.

[JimGant]

At the counter I've been signing a charge slip instead of using a PIN.

Tough to figure. Whether the card is used in the pin mode or signature mode, both transactions ride the same Visa network. Yes, the signature mode is not real time. But Visa doesn't care -- they're collecting their 1% fee, not playing forex spreads. So, real time or not doesn't seem to figure in.

And in both cases, Visa's 1% is being passed on to Fidelity. Why Fidelity eats the ATM mode (pin) fee and not the credit card mode (signature) fee is curious. Oh well.

[OriginalPoster]

At the counter I've been signing a charge slip instead of using a PIN.

Tough to figure. Whether the card is used in the pin mode or signature mode, both transactions ride the same Visa network. Yes, the signature mode is not real time. But Visa doesn't care -- they're collecting their 1% fee, not playing forex spreads. So, real time or not doesn't seem to figure in.

And in both cases, Visa's 1% is being passed on to Fidelity. Why Fidelity eats the ATM mode (pin) fee and not the credit card mode (signature) fee is curious. Oh well.

It might be a Fidelity-only thing. When I look in the "terms and conditions" of my account it says that all foreign transactions, including ATM withdrawals, are subject to a 1% fee. However in practice, they do not charge that 1% when I use the card at an ATM machine, and they do charge it when I use it as a debit card or use it to get cash at a bank counter they do charge that 1%. I'm not sure if it's the case that they waive the 1% fee on ATM transactions only if your balance is over a certain amount, whether they always do, or whether that are accidentally not charging it. However I've gone through 2 monthly statement periods so far since my first ATM transaction in Thailand with their card and it seems to be real that they aren't charging the 1%.

Edited November 3, 2009 by OriginalPoster

[jettyflamingo]

is there any difference ina atm debit card and a atm check card...i have both...also i have a banamex m/c card that show neither...it act as a atm card....kind of interesting???????????????????????/

[david96]

Whether you use a PIN or Sign method may depend on the Thai bank you use for a CC cash advance.

Both require the card to be swiped through the EFTPOS terminal, but you may have to supply ID if you sign. The transaction is still the same.

In an Australian bank this takes less that 1 minute, in a Thai bank it could take up to 15mins and involve up to 3 people. This occurred with me 2 years ago at a Bangkok Bank branch. Thai banks all seem to have different procedures for processing a CC transaction.

If you use a Debit card ( ATM card) the procedure will be the same but you will have to use your PIN. Also your home bank may have set a daily limit for withdrawals, you should know this amount.

Transaction fees will appear on your CC or home bank statement.

Some banks still make a telephone call to verify your CC and photocopy both sides of the CC

plus a photocopy of your passport. Which shows you how behind the times some banks are.