Any Atms In Chiang Mai Without The 150 Baht Withdrawal Fee?

[wimpy]

what rate does an Aeon withdrawal provide? Does anyone have a recent transaction? It's easy to figure out.

I think previously some threads somewhat concluded that the fee savings from Aeon were partially offset by a less favorable exchange rate.

These rates can change however so would be interesting to revisit the question again.

Did you see my post four posts ago?

[CobraSnakeNecktie]

what rate does an Aeon withdrawal provide? Does anyone have a recent transaction? It's easy to figure out.

I think previously some threads somewhat concluded that the fee savings from Aeon were partially offset by a less favorable exchange rate.

These rates can change however so would be interesting to revisit the question again.

Did you see my post four posts ago?

yes the rate differs by originating institution. Everyone has an originating institution however so there can still be examples for comparison.

What originating banks have what exchange rate via Aeon? any examples.

ah screw it.... I just counter withdrawal. I don't really care but still interesting to know about Aeon transactions via common originating banks in the US etc.

[wimpy]

I do a lot of ATM transactions. Aeon when convenient, Thai banks when not. I have not noticed any appreciable difference in the exchange rates.

Edited October 30, 2010 by wimpy

[hml367]

Withdrawals can be with a signature and without. To get a signature provides better identification of the the person withdrawing. Therefore financial institutions will usually allow higher limits on a signed withdrawal. Obviously this cannot be done at an ATM. Either way, the card issuing institution sets limits on how much can be drawn at one time and/or daily in either situation. These limits are not easy to find to help deter fraud. If you push your financial institution they should tell you the limits.

The financial institution giving the cash also has limits. The will tell you what their limits are.

Be aware that there are regulations regarding large amounts of cash transfers both in the home country and in Thailand. You may be asked where the money comes from and the purpose of using the money. This is to help detect money laundering and economic manipulation, among other things.

Then there is the difference of ATM/Debit/any other name plastic card. An ATM card is just that.... for use in an ATM machine. A debit card give access to a deposit account. A credit card gives acces to a revolving credit account. Personally I have: an ATM card, which I cannot use for signature withdrawals... only in an ATM; a debit card, with access to a deposit account, which I can use in an ATM or for signature withdrawals; and I have a credit card with access to my revolving credit account, which I can use in an ATM or for signature withdrawals. A card may be attached to more than one type of account and/or ATM.

If a card is branded as part of an ATM system the exchange rates usually are used which follow that systems exchange rate for the day of settlement in the home country. The card issuing institutions will more than likely reserve the right to use a different rate for their own protection. However, by and large they will stick by the rate. These ATM systems have many names. Some that I have branded on my cards are: PLUS; STAR; CUTEL; THE EXCHANGE; and CO OP NETWORK. There are probably many more. A particular card branded as such may only work in an ATM belonging to one of those systems.

I transfer with a signature at least once a month in an amount I think I will need for the month. If I need more cash for some reason I look for an AEON ATM because I get the same rate as any other Visa transaction and do not have to pay the ATM fee so far.

In my experience the exchange rate with a Mastercard branded card is not as favorable as a Visa branded card. You can check each companies exchange rate on their corporate web site.

These quotes are from the Visa Corporate exchange rates web page:

Visa is committed to providing cardholders with a safe, convenient and cost-effective way to pay when traveling internationally. Use the currency converter below to get an indication of the rate you may receive when using your Visa card.

Your bank may or may not assess foreign transaction fees on crossborder transactions.

This converter uses a single rate per day with respect to any two currencies. Rates apply to the date the transaction was processed by Visa; this may differ from the actual date of the transaction.

All of this information is from my personal experience in the financial industry in U.S.A. and living in Thailand.

MSPain

Checking the rates 10:50 a.m., 30 Oct. : Visa 29.83; Mastercard 29.73

What is counter withdrawl? Are you using an over seas ATM card at the counter? How is this done?

Edited October 30, 2010 by hml367

[Paagai]

Get a premier account with HSBC in the country your funds are held in then open an HSBC account with ATM card here in Thailand, which is free for premier customers. All transfers between your HSBC accounts in different countries are free and the only charge is a local ATM charge, usually 10 Baht.

Only downside is no HSBC branch here in CM but you can do everything via the Internet (including the international transfers) so very easy.

Edited October 30, 2010 by Paagai

[Contractor]

Get a premier account with HSBC in the country your funds are held in then open an HSBC account with ATM card here in Thailand, which is free for premier customers. All transfers between your HSBC accounts in different countries are free and the only charge is a local ATM charge, usually 10 Baht.

Only downside is no HSBC branch here in CM but you can do everything via the Internet (including the international transfers) so very easy.

"Get a premier account with HSBC" !

UK example

To do this one has to have £50,000 of savings/investments with HSBC with main income paid into the HSBC Premier Account, or an annual income of at least £100,000 paid into the account and a £300,000 mortgage with HSBC or a product taken out through an associated (fee charging) financial advisor.

I would NOT recommend someone takes this option just to get a "fee free" ATM card. My brother has one of these accounts and he pays a lot in various fees and charges. There is nothing" free" when it comes to banking, charges are just levelled in a different way.

Edited October 30, 2010 by Contractor

[CMX]

My experiences agree with information provided by MS Pain, for those of us from the U.S. The 150 baht charge should be a bank assessed fee on tourists, since we have alternatives that require no great dislocation, given planning. (Have NO idea about countries other than my own.)

Aeon has no disadvantage for me and so far advantages stated by others. As I entered elsewhere as a remark, Aeon sometimes limit my withdrawal amount - and I have guessed that it was on weekends at some locations. Have not confirmed.

[caf]

I do a lot of ATM transactions. Aeon when convenient, Thai banks when not. I have not noticed any appreciable difference in the exchange rates.

Rates change all the time; so unless you did two transactions within seconds of each other you just can't say tere is no appreciable difference

[wimpy]

I do a lot of ATM transactions. Aeon when convenient, Thai banks when not. I have not noticed any appreciable difference in the exchange rates.

Rates change all the time; so unless you did two transactions within seconds of each other you just can't say tere is no appreciable difference

I believe I can. The two transactions I listed in post #25 were done within minutes of each other. Exact same exchange rate. I do enough transitions with both Aeon and Thai banks to have made this determination. I believe, as others have said, the rate is determined by the card issuer.

Edited October 30, 2010 by wimpy

[caf]

I do a lot of ATM transactions. Aeon when convenient, Thai banks when not. I have not noticed any appreciable difference in the exchange rates.

Rates change all the time; so unless you did two transactions within seconds of each other you just can't say tere is no appreciable difference

I believe I can. The two transactions I listed in post #25 were done within minutes of each other. Exact same exchange rate. I do enough transitions with both Aeon and Thai banks to have made this determination. I believe, as others have said, the rate is determined by the card issuer.

You can make a withdrawal at say 9.00 at 47; then one at 9.02 at 47

All that proves is that they haven't during that time changed the rate. A few seconds later and it MAY have changed. Even card companies can change the rate several times a day

[wimpy]

I do a lot of ATM transactions. Aeon when convenient, Thai banks when not. I have not noticed any appreciable difference in the exchange rates.

Rates change all the time; so unless you did two transactions within seconds of each other you just can't say tere is no appreciable difference

I believe I can. The two transactions I listed in post #25 were done within minutes of each other. Exact same exchange rate. I do enough transitions with both Aeon and Thai banks to have made this determination. I believe, as others have said, the rate is determined by the card issuer.

You can make a withdrawal at say 9.00 at 47; then one at 9.02 at 47

All that proves is that they haven't during that time changed the rate. A few seconds later and it MAY have changed. Even card companies can change the rate several times a day

Possible, but not likely. As I said, I have done this enough to know.

[caf]

I do a lot of ATM transactions. Aeon when convenient, Thai banks when not. I have not noticed any appreciable difference in the exchange rates.

Rates change all the time; so unless you did two transactions within seconds of each other you just can't say tere is no appreciable difference

I believe I can. The two transactions I listed in post #25 were done within minutes of each other. Exact same exchange rate. I do enough transitions with both Aeon and Thai banks to have made this determination. I believe, as others have said, the rate is determined by the card issuer.

You can make a withdrawal at say 9.00 at 47; then one at 9.02 at 47

All that proves is that they haven't during that time changed the rate. A few seconds later and it MAY have changed. Even card companies can change the rate several times a day

Possible, but not likely. As I said, I have done this enough to know.

Illogical bullshit comment. you have no knowledge of when they are changing the rate. The 9.00 rate could be held all day or changed several times in the day if the exchange is moving.

[november222]

Illogical bullshit comment.

very rude. very wrong.

Edited October 30, 2010 by november222

[wimpy]

Illogical bullshit comment. you have no knowledge of when they are changing the rate. The 9.00 rate could be held all day or changed several times in the day if the exchange is moving.

ok, you must be right. never mind my first hand experience doing withdwawls within minutes of each other on numerous occasions. Never mind that the exchange rate is always the same.

[caf]

Illogical bullshit comment. you have no knowledge of when they are changing the rate. The 9.00 rate could be held all day or changed several times in the day if the exchange is moving.

ok, you must be right. never mind my first hand experience doing withdwawls within minutes of each other on numerous occasions. Never mind that the exchange rate is always the same.

very sarcastic, you've obviously never worked in banking

i'll let those that know how rates are set to get back to you.

next time i'm in a bank i'll remind them that, as you say, " Never mind that the exchange rate is ALWAYS the same."

I stand by my point your comment lacks logic (and is pure bullshit, november )

over and out

[november222]

very sarcastic, you've obviously never worked in banking

i'll let those that know how rates are set to get back to you.

next time i'm in a bank i'll remind them that, as you say, " Never mind that the exchange rate is ALWAYS the same."

I stand by my point your comment lacks logic (and is pure bullshit, november )

over and out

classic caf. back on form. nice one.

[wimpy]

I was saying that the exchange rate was "always the same" every time I have done transactions from Aeon and Thai banks within a short time of each other. I'm sorry if that wasn't clear enough for you.

[jayjay0]

Illogical bullshit comment.

very rude. very wrong.

And wimpy isn't rude. You normally post common sense. Why are you defending him?

[jayjay0]

Illogical bullshit comment. you have no knowledge of when they are changing the rate. The 9.00 rate could be held all day or changed several times in the day if the exchange is moving.

ok, you must be right. never mind my first hand experience doing withdwawls within minutes of each other on numerous occasions. Never mind that the exchange rate is always the same.

Well you may be right or you may be wrong. As I said read all the posts not just the ones that agree with you. For my self I have a hard time understanding making two withdrawlws in a matter of moments on two different institutions. If it was the card issuing bank that says how much you can withdraw ( and I tend to believe it is) why two different banks? Do you make the withdraws run home and check on the computer? I do tend to believe that if you make them with in minutes of each other the rate will probably be the same but it is not guarantied.

One other point. I have checked on the rate I paid but it is always a few days before the bank gives me the rate they use. Might be just my bank.

[WinnieTheKhwai]

I was saying that the exchange rate was "always the same" every time I have done transactions from Aeon and Thai banks within a short time of each other. I'm sorry if that wasn't clear enough for you.

Don't let the idiots get to you; it was clear enough for everyone else. Thank you.

[wimpy]

Illogical bullshit comment. you have no knowledge of when they are changing the rate. The 9.00 rate could be held all day or changed several times in the day if the exchange is moving.

ok, you must be right. never mind my first hand experience doing withdwawls within minutes of each other on numerous occasions. Never mind that the exchange rate is always the same.

Well you may be right or you may be wrong. As I said read all the posts not just the ones that agree with you. For my self I have a hard time understanding making two withdrawlws in a matter of moments on two different institutions. If it was the card issuing bank that says how much you can withdraw ( and I tend to believe it is) why two different banks? Do you make the withdraws run home and check on the computer? I do tend to believe that if you make them with in minutes of each other the rate will probably be the same but it is not guarantied.

One other point. I have checked on the rate I paid but it is always a few days before the bank gives me the rate they use. Might be just my bank.

I pulled from two atms because I wanted to know if there was a difference in exchange rates between them. As I said, I do a lot of atm transactions, so I want to be sure I am getting the best deal.

My bank refunds the 150 baht fee, so it doesn't really matter which one I use. I'd rather use the Aeon when available, so my bank doesn't get fed up with all the fees.

Yes I do check them on the computer. No need to run. The transactions are waiting for me when I get home. The dollar amount withdrawn is available immediately. Not hard to figure out the exchange rate from that.

Edited October 30, 2010 by wimpy

[hml367]

It could be maintenance. Every ATM system must be maintained. When there is maintenance going on the machine is not "connected" to the system, thereby not knowing if an account is good or not. The ATM owner limits the amounts during these times to limit their exposure. Another bit of information that the ATM owners do not want people to know for obvious reasons. There was a case in the U.S. some years ago where the criminals knew these times and withdrew something like $200,000 on one card over a weekend by going to different ATM's that were under maintenance.

I don't know if that is what happened in your case, it is just something that can happen.

MSPain

My experiences agree with information provided by MS Pain, for those of us from the U.S. The 150 baht charge should be a bank assessed fee on tourists, since we have alternatives that require no great dislocation, given planning. (Have NO idea about countries other than my own.)

Aeon has no disadvantage for me and so far advantages stated by others. As I entered elsewhere as a remark, Aeon sometimes limit my withdrawal amount - and I have guessed that it was on weekends at some locations. Have not confirmed.

[hml367]

Rates in the Visa or Mastercard systems are set for a particular settlement date.... Usually they are not changed during that day. You can look on their corporate web sites for the information.

MSPain

I do a lot of ATM transactions. Aeon when convenient, Thai banks when not. I have not noticed any appreciable difference in the exchange rates.

Rates change all the time; so unless you did two transactions within seconds of each other you just can't say tere is no appreciable difference

[hml367]

This is from the Visa Corporate exchange rate converter web page. I posted this before:

This converter uses a single rate per day with respect to any two currencies. Rates apply to the date the transaction was processed by Visa; this may differ from the actual date of the transaction.

Maybe it is not correct, yet in my experience it has always been the case.

As I have also posted before, check with your card issuing institutions disclosures and also with the card's ATM system disclosures.

As for the 150 baht ATM fee, what benefit would a Thai owned ATM gain from dispensing cash to a foreign issued cardholder if they do not charge the ATM fee?

MSPain

Illogical bullshit comment. you have no knowledge of when they are changing the rate. The 9.00 rate could be held all day or changed several times in the day if the exchange is moving.

ok, you must be right. never mind my first hand experience doing withdwawls within minutes of each other on numerous occasions. Never mind that the exchange rate is always the same.

very sarcastic, you've obviously never worked in banking

i'll let those that know how rates are set to get back to you.

next time i'm in a bank i'll remind them that, as you say, " Never mind that the exchange rate is ALWAYS the same."

I stand by my point your comment lacks logic (and is pure bullshit, november )

over and out

[wimpy]

As for the 150 baht ATM fee, what benefit would a Thai owned ATM gain from dispensing cash to a foreign issued cardholder if they do not charge the ATM fee?

They dispensed cash for years with no fee. I thought that was a pretty good system.

[Paagai]

I would NOT recommend someone takes this option just to get a "fee free" ATM card. My brother has one of these accounts and he pays a lot in various fees and charges.

The free ATM card is just one of many benefits - not in itself a reason to get such an account but there are plenty of others too. Particularly, if you have a lifestyle which regularly involves multiple international transactions in various countries and meet HSBC's acceptance conditions it's a no brainer. Charges for HSBC Premier depend on the tier of account you have - mine is completely free - some get charged.

The 150Bt Phenomenon is another "Welcome to Thailand" experience and is levied locally. My ATM transactions with HSBC in other countries are completely free and the exchange rate always reasonable.

There is nothing" free" when it comes to banking, charges are just levelled in a different way.

Whilst I somewhat agree, banks are also know to overcharge some customers to subsidise others

[hml367]

I liked it, too. I liked flying to Chiang Rai for 800 baht on a jet airliner, too. I liked many things from before. Things change. I have to accept some change.

MSPain

As for the 150 baht ATM fee, what benefit would a Thai owned ATM gain from dispensing cash to a foreign issued cardholder if they do not charge the ATM fee?

They dispensed cash for years with no fee. I thought that was a pretty good system.

[CMFarang]

NOTE about Aeon

I had one of the Aeon ATM machines in Airport Plaza EAT my CARD..

The Aeon shop was open , and they do not tend / service their own ATM Machines.???

They could not return the ATM Card. Told me it would go to Bangkok and DESTROYED there .

NO WAY to retrieve it ..????

Then asked for all my personal information ????

CAREFUL - TIT - :jap:

[vagabond48]

As for the 150 baht ATM fee, what benefit would a Thai owned ATM gain from dispensing cash to a foreign issued cardholder if they do not charge the ATM fee?

MSPain

Some may argue whether the banks should charge an ATM fee after not charging a fee for all these years but charging 150B is a bit outrages. I can see them charging between 10B to 50B. I myself have several USA 100% fee free VISA debit cards but still continue to use Aeon in Chiang Mai as it is near where I normally eat lunch and I don't want to abuse that attractive option.

Regarding the back and forth "dialogue" about exchange rates, before the 150 ATM fee appeared, I made several test withdrawals using several US VISA 100% fee free debit cards. I can confirm that when using various combination of DCs and several banks within a few minutes time, the amount that was deducted from my various accounts was either the same or a penny or 2 different. I also track my bank accounts using a spreadsheet and the exchange rate to the 4th decimal position were, of course also the same or off by a fraction of a baht.

[mcgriffith]

I would NOT recommend someone takes this option just to get a "fee free" ATM card. My brother has one of these accounts and he pays a lot in various fees and charges.

The free ATM card is just one of many benefits - not in itself a reason to get such an account but there are plenty of others too. Particularly, if you have a lifestyle which regularly involves multiple international transactions in various countries and meet HSBC's acceptance conditions it's a no brainer. Charges for HSBC Premier depend on the tier of account you have - mine is completely free - some get charged.

The 150Bt Phenomenon is another "Welcome to Thailand" experience and is levied locally. My ATM transactions with HSBC in other countries are completely free and the exchange rate always reasonable.

There is nothing" free" when it comes to banking, charges are just levelled in a different way.

Whilst I somewhat agree, banks are also know to overcharge some customers to subsidise others

I looked into an HSBC Premier account years ago when I moved to Thailand.

I already had at that time an HSBC debit card, linked to my HSBC Online Savings Account in the US.

Hello.

The Premier acct pays a lordly .01% on cash. No, that is not 1%. It is one one hundredths of one percent, to spell it out.

Deposit one million dollars. Receive 100 dollars total end of year. Don't forget federal and state income tax on that return.

Premier account is marketed to people who want to feel "special" or "exclusive".

It has to be one of the most egregious example of financial services marketing I've ever seen.

OK, you have a few million with them, they give you a trading rate discount, maybe a slightly higher CD rate. But not as good as ML, or GS or Schwab or Fidelity.

It's a wheezer deal. Total pathetic.

Still have the online savings account with HSBC, paying 1.10% on USD currently.

I keep pocket change there; can earn multiples of this almost anywhere I look in any market worldwide.

But back on thread, yes, I can use my HSBC card, linked to my HSBC account at their one location in Thailand near MBK in Bangers.

Without a farthing of ATM charge, and at the current up to the minute best TT rate.