Atm Charges

[logbags]

Could some kind soul enlighten me to the charges and exchange rate you get when using your ATM card in Thailand when withdrawing cash from your own account offshore.

Travellers cheques have always been a favourite along with cash for me but you have to pay 1% to buy them plus they now slug you 30 baht each to change one.

This is offset by a slightly higher rate but are there any advantages of using an ATM card. My questions are who controls the rate you get, the bank where you use the card or Visa/Mastercard?

What do they charge, a % or a flat fee. Do you get clipped at both ends? Does your bank at home charge you along with the Thai bank.

I'm just trying to figure out the most convenient and cost effective way to do it. I am in Australia but would think it is pretty much standard charges world wide now.

##The topic should say "Are" instead of "is" hopeless grammar

Edited April 14, 2010 by logbags

[The Snark]

My experience: Thai ATMs, 150 baht per transaction, plus your bank charge on the other end. The exchange rate is usually according to the size of the transaction. You can get the best possible rate, usually updated every few hours, by doing a transaction of more than $100 US.

Brought to you by your friendly money scam artist, Makim Ben Dover.

Edited April 14, 2010 by The Snark

[BWPattaya]

My experience: Thai ATMs, 150 baht per transaction, plus your bank charge on the other end. The exchange rate is usually according to the size of the transaction. You can get the best possible rate, usually updated every few hours, by doing a transaction of more than $100 US.

Brought to you by your friendly money scam artist, Makim Ben Dover.

Not all Thai ATMs charge for a withdrawl when using a foreign ATM card.

[petercallen]

You are very likely to be charged here then hit with fees at your bank at home. If you have

A VERY TRUSTWORTHY FRIEND in Thailand who has a THAI bank account You could do a

bank transfer of funds into his account then get the money from him it costs about $30 aud

to transfer any amount.

[WOOHOO]

You are very likely to be charged here then hit with fees at your bank at home. If you have

A VERY TRUSTWORTHY FRIEND in Thailand who has a THAI bank account You could do a

bank transfer of funds into his account then get the money from him it costs about $30 aud

to transfer any amount.

If you have access to Thai bank account, then why not just bring cash. No charges what so ever. I can't remember what the limit is before you have to declare but it's quite high.

Once you've deposited it though, don't check the exchange rate for a couple of days. I've lost several thousand baht from one day to the next, with a slight change in rate.

Not recommended for forgetful types who lose things mind.

[logbags]

Well I thought it would be a gouge, that is why I have never done it. My niece is going to open me an account in Phuket and give me the ATM card so I only get slugged what Thais cop which I think is minimal.

Thais in Australia get reemed badly, it is 29 baht per AUD in Thailand but $1 costs them 35 baht at the airport here.

At least in Thailand when you arrive you get normal bank rates and have a few banks. Here you have no choice and they charge 6 bucks (180 baht) just to change a travellers cheque.

[petercallen]

If you have access to Thai bank account, then why not just bring cash. No charges what so ever. I can't remember what the limit is before you have to declare but it's quite high.

Once you've deposited it though, don't check the exchange rate for a couple of days. I've lost several thousand baht from one day to the next, with a slight change in rate.

Not recommended for forgetful types who lose things mind.

You cannot have a bank account in Thailand if you don't live here, going by the original question i would say he does not.

You also get a better exchange rate on a direct transfer of funds.

Carrying a lot of cash i would not recommend here or anywhere else.

[WOOHOO]

You cannot have a bank account in Thailand if you don't live here, going by the original question i would say he does not.

You also get a better exchange rate on a direct transfer of funds.

Carrying a lot of cash i would not recommend here or anywhere else.

You're probably right. There's probably a lot of people that wouldn't feel comfortable doing it they way.

I personally never enter Thailand without at least 2 or 3 grand cash on me and sometimes much, more. It won't surprise some TV members to hear me say, 'I've never had any problems yet'. Obviously if the OP was talking about moving 50K then it wouldn't work.

To having access to a Thai bank account, I was referring to the previous posters comment about using a Thai friends account.

Will the better rate on a direct transfer, equate to a saving, after the charge has been taken? If so, then that's obviously the way to go.

[petercallen]

I usually transfer $10000 aud minimum and the bank gives me travelers cheque price or better with no fees.

You cannot open a bank account here with a tourist visa you need non o or similar.

you have to open the account yourself and have your passport with you which they photocopy

the details including your visa.

[WOOHOO]

I usually transfer $10000 aud minimum and the bank gives me travelers cheque price or better with no fees.

You cannot open a bank account here with a tourist visa you need non o or similar.

you have to open the account yourself and have your passport with you which they photocopy

the details including your visa.

The OP doesn't need to open an account, his niece is going to do it for him. I thought it was you who suggested that in the first place! and didn't you say you get charged $30 for the transfer before?

If it's traveler cheque price with no fees, you couldn't ask for more than that. I'd do it that way myself if it wasn't for those pesky kids form the IR

[logbags]

Well I used to have an account with the Bangkok Bank as farangs were allowed to have them before. I used to have one with Krung Thai as well but Patong had no banks and you were forced to go into town to do your banking so I just got into the habit of using travellers cheques as you could change them anywhere.

It was just outrageous as there was never any queue at the banks and Chinese people in Phuket town would just walk straight up in front of you and push in and demand instant service in a loud voice. This was hard to take as you'd be standing there like an idiot for ages while this happened.

I remember getting clipped of $200 bucks worth of TT at a Hotel in Bangkok. They were taken out of the back hoping I would not notice. When I fronted the guy at reception about it he had some muscle follow me to my room to threaten me. I bailed real quick and cut my losses. Never left anything behind a hotel counter since.

See the problem of sending your dosh over in one go locks you in to an exchange rate and if the dollar goes up you lose out. Also carrying a little cash is fine but I would never have a large wedge on me anywhere in Thailand as if you get caught up in anything with the cops it will be the first thing you lose. I never ever carry more than I will spend at any one time.

I also hate the fact if you use CC or ATM you leave an electronic trail wherever you go. My friend recently told me he was pulled aside by an official at the Phuket airport and asked for a 500 baht tip. I thought I'd heard it all.

If Thai people actually have the gall to ask for a tip I usually just tell them in Thai. I'll give you 3 tips- Don't smoke, don't gamble and treat your mum kindly.

[petercallen]

I usually transfer $10000 aud minimum and the bank gives me travelers cheque price or better with no fees.

You cannot open a bank account here with a tourist visa you need non o or similar.

you have to open the account yourself and have your passport with you which they photocopy

the details including your visa.

The OP doesn't need to open an account, his niece is going to do it for him. I thought it was you who suggested that in the first place! and didn't you say you get charged $30 for the transfer before?

If it's traveler cheque price with no fees, you couldn't ask for more than that. I'd do it that way myself if it wasn't for those pesky kids form the IR

OK so you understand, i return to Australia regularly and when i need extra funds in Thailand i go to the bank and they do a electronic transfer to my bank in Thailand and charge me $30 AUD no matter what amount i transfer which is much cheaper than travelers cheques, i talk to my bank manager in Thailand to confirm what rate the bank will pay me before i leave Thailand which depending on the amount you transfer will be travelers cheque price or better on the day of transfer, the Thai bank charges no fees where they would if i changed travelers cheques, when i opened my bank account in Thailand i had to do it myself and show my passport with visa stamps no one else could open a bank account for me so the OP cannot use his niece to open a account if the laws on banking are still the same.

[petercallen]

Well I thought it would be a gouge, that is why I have never done it. My niece is going to open me an account in Phuket and give me the ATM card so I only get slugged what Thais cop which I think is minimal.

Thais in Australia get reemed badly, it is 29 baht per AUD in Thailand but $1 costs them 35 baht at the airport here.

At least in Thailand when you arrive you get normal bank rates and have a few banks. Here you have no choice and they charge 6 bucks (180 baht) just to change a travellers cheque.

The exchange rates at Perth airport are rubbish, when we returned if February they paid 25 baht for a dollar, i told people waiting

to exchange money to only change enough for there immediate needs and change the rest of there money in Thailand.

The following day i when to my Thai bank and there exchange rate was over 29 bath to the dollar whuch is a very big differance

over any amount of money large or small.

[WOOHOO]

OK so you understand, i return to Australia regularly and when i need extra funds in Thailand i go to the bank and they do a electronic transfer to my bank in Thailand and charge me $30 AUD no matter what amount i transfer which is much cheaper than travelers cheques, i talk to my bank manager in Thailand to confirm what rate the bank will pay me before i leave Thailand which depending on the amount you transfer will be travelers cheque price or better on the day of transfer, the Thai bank charges no fees where they would if i changed travelers cheques, when i opened my bank account in Thailand i had to do it myself and show my passport with visa stamps no one else could open a bank account for me so the OP cannot use his niece to open a account if the laws on banking are still the same.

I think The OP's niece is going to open the account in her name and then give him the ATM card. Thanks for taking the time to explain.

[clinique]

Exchange rates inThailand are much better than in Oz.

Especially for TT's - which is the rate used by Visa/Mastercard.

When I use an Oz Mastercard and the rate used is the TT rate in Thailand when i exchange/casha dvance, when the transaction hits my oseas account it is always within 1 baht of the original rate at time of advance.

Mind you my Oz bank charges me for the transaction, and i get hit with a quarterly Masrercard overseas card usage charge. But htis is still better than brining cash becasue cash is exchanged at the 'cash' rate which is lower than the TT rate.. So DONT bring cash.

Use eithe rtravllers chqs, bring an Visa or mastercard , but do your transactions at Exchange counters NOT at ATM's (they charge 150- baht per transaction) OR send money from Oz (in A$) to a Thai bank account by TT - dont send baht fromOz, the Oz bank will use their rate whichismuch lower than in Thailand.

[logbags]

Well it is nice to know you don't get hit with the 150 baht charge the machines hit you with when you go to a counter. I am just going to get my niece to open an account in her name but give me the card so I can use it if I need to. I might still get some TT cheques anyway. A transfer for Thais I think is only 20 baht.

Does anybody actually know what the law is on accounts now? Do you need a retirement visa or work permit now?

[BWPattaya]

What happens if the OP gets caught using an ATM card for an account that isn't his? I know it is his neice's but it could easliy be misconstrued as a scam. He takes the money out, she reports it as a fraudulent withdrawal. The police would be involved if the bank became suspicious. I am not suggesting that is their plan, kust something to consider.

If you tried this, opening a bank accont in their name and getting the ATM card, with someone you do not know well it could easily mean the loss of your money as they could get a second ATM card.

With regards to carrying a lot of cash people should be aware that for some countires there is a limit to the amount of cash you can carry out of the country. For instance, 30,000 Bt out of Thailand, 5,000 pounds out of the UK. I am not sure of the up to date figures. I do believe that some places have sniffer dogs to detect large amounts of cash.

Finally, when I opened my first bank account here I was on a tourist visa. Had the account with money in before I applied for my retirement visa.

[logbags]

What happens if the OP gets caught using an ATM card for an account that isn't his? I know it is his neice's but it could easliy be misconstrued as a scam.

## I don't think there is a law against using any bank account, obviously you need a person who won't tax the account. If you have nothing to do go browse the Thai stock exchange and see who controls all the stock in Banks in Thailand. Very interesting.

[clinique]

Using someone elses card is not a good idea ! Could be a problemwitht he bank / police etc. Also ther eis nothing stopping the account owner cancelling the card or getting another one issued fortheirown use. I see this is a family member , but Caveat Emptor - TIT.

If you are overseas and coming to Thailand you can have money TT;d to , say, Bangkok bank and "for collection" by you in person on presentation of your passport at the bank counter when you arrive in Thailand - you MUST ensure the TT contains details your FULL name and passort number AS IT APPEARS in your passport. You can then open a savings account in your own name on arrival. No Work permit is required.

Transfer between accounts at the same bank/branch at some banks is free.. otherwise yes 20 baht.

[WOOHOO]

Using someone elses card is not a good idea ! Could be a problemwitht he bank / police etc. Also ther eis nothing stopping the account owner cancelling the card or getting another one issued fortheirown use. I see this is a family member , but Caveat Emptor - TIT.

How many times are you going to insinuate, that his own niece is going to rip him off??

There is no law against using somebody elses ATM card if you have their permission. I think he can decide weather he can trust his own family members or not, don't you?

The limits on cash that can be brought in or out of countries, normally applies to un declared money. If you wish to declare, then either there is no limit, or if there is, it is much much higher.

[clinique]

Using someone elses card is not a good idea ! Could be a problemwitht he bank / police etc. Also ther eis nothing stopping the account owner cancelling the card or getting another one issued fortheirown use. I see this is a family member , but Caveat Emptor - TIT.

How many times are you going to insinuate, that his own niece is going to rip him off??

There is no law against using somebody elses ATM card if you have their permission. I think he can decide weather he can trust his own family members or not, don't you?

The limits on cash that can be brought in or out of countries, normally applies to un declared money. If you wish to declare, then either there is no limit, or if there is, it is much much higher.

everyone is entitled to express their opinion on this forum ..

i speak from experience and observation,

i am not insinuating anything about HIS family, just noting that it has happened before..

and if transferring money it is NOT necessary to send it to someone else if one does not wish to do so..

clear !

[petercallen]

How many times are you going to insinuate, that his own niece is going to rip him off??

There is no law against using somebody elses ATM card if you have their permission. I think he can decide weather he can trust his own family members or not, don't you?

The limits on cash that can be brought in or out of countries, normally applies to un declared money. If you wish to declare, then either there is no limit, or if there is, it is much much higher.

There is no limit in Australia but if you take more than $10000 you must declare it and the same rule applys when

when you return to Australia, if you don't and are caught the money can be confiscated and you can also be fined

[keestha]

How the rules are applied concerning qualifications a foreigner has to meet to open an account, varies from one bank/ branch office to another. Also when you hold just a tourist visa definitely try to open a bank account if you need one, just keep going from bank to bank till one accepts you. It is possible they will require that a Thai person guarantees for you, which is a matter of just signing on the dotted line.

Sometimes banks close accounts if they have been inactive for too long, so when out of Thailand withdraw a small amount using an ATM say every almost 3 months, so that the account stays in the books as being active.

[JusMe]

Last week, I withdrew 40,000 baht (the machine's limit) from an AEON atm. There was no AEON fee. I checked my own bank account back home, and the exchange rate was about the same as TT - excellent. The bank fee for my home bank was $3.00

This is the way I'm planning on covering all my living expenses.

[logbags]

How the rules are applied concerning qualifications a foreigner has to meet to open an account, varies from one bank/ branch office to another. Also when you hold just a tourist visa definitely try to open a bank account if you need one, just keep going from bank to bank till one accepts you. It is possible they will require that a Thai person guarantees for you, which is a matter of just signing on the dotted line.

Sometimes banks close accounts if they have been inactive for too long, so when out of Thailand withdraw a small amount using an ATM say every almost 3 months, so that the account stays in the books as being active.

Yes I have never actually heard of a law where you can't open an account. I think people assume you can't but I never had a problem in the past although it was probably 20 years ago.

I'll email the kasikorn brach and ask them straight out if you can and what are the rules. Then I'll post it here so others can know.

[clinique]

Yes I have never actually heard of a law where you can't open an account. I think people assume you can't but I never had a problem in the past although it was probably 20 years ago.

I'll email the kasikorn brach and ask them straight out if you can and what are the rules. Then I'll post it here so others can know.

Many years ago, 15-20, it was a Bank of Thailand requirement that foreigners opening bank accounts had to havework permits.

That has been changed for some time now. Just some of the 'old gaurd' branchmanagers stickto the old rules.

As another Poster said, the rules and requirements change from bank tobank even branch to branch,,, so do not expect the first branch you ask to say yes.. you may have to ask several,,

reuirement now is only a valid passport with avalid visa ofcourse.

[NADTATIDA1]

My experience: Thai ATMs, 150 baht per transaction, plus your bank charge on the other end. The exchange rate is usually according to the size of the transaction. You can get the best possible rate, usually updated every few hours, by doing a transaction of more than $100 US.

Brought to you by your friendly money scam artist, Makim Ben Dover.

Not all Thai ATMs charge for a withdrawl when using a foreign ATM card.

Would you be so kind as to tell me which banks do not charge,thanks in advance!

[traveldog]

Aeon Bank ATMs are still not charging the 150 Baht

[logbags]

I received an email from the Kasikorn bank and they said anybody with a valid visa or passport can open an account at the discretion of the manager. I'd suspect he'd just want to know if your going to offer any business in the long term.

Now I have just rung the Thai embassy and they say tourist visas are $45. I'm sure I read they were still free. <deleted> is going on, they seem clueless as usual.

[Phuketscooter]

Things change all the time. Last week I helped a friend to get a bank account in the "yellow bank". There are some rules from Thai government, that tells when a bank can make an account. They have as a policy, in the "yellow bank", that you must have a one year visa.

Always shop around different banks to see if they have the best rats in changing currency. Just check out hove much Bath they give you for so much currency you have, do not care about anything else.

If you stay here longer, get the money in youre own currency in a Thai bank, and change as it is valy compering to the Bath.

Good luck!