Thai Domestic ATM Fees To Be Reduced

[rkidlad]

They are not LOSING 100 mill bht, only losing what they got for free in the first place.

You pay for opening an account, virtually get no interest, pay for an atm card, pay to close an account, pay yearly fees for having your account.

What do you get in return--NOWT. All they get is what I mentioned, plus OUR MONEY they keep and use to lend others at a rate of borrowing 10% + They have a nerve.

How long have they been charging at a.t.m.? they should have quite a bit of revenue from it. Now they say they are going to lose money.. A JOKE April 1st early

Where you come from ? you sure in your country the banks are free of charge ? in Italy and in all other countries from my experience banks are a pain. So before speak like many other how shit is this or that in Thailand check your home country and much more if you don't like what they do here why you are here ? why you not go back home and make this place free of people like you ? Too many users here only like to speak bad about Thailand but still always here, live here and spend money here so why speak ? Shut up is better or if you are a man go back home and live in your country.

This comment is for everyone who usually speak bad about this and that but still live here. Is really annoying to read every time always the same shit from people who live here but usually speak bad about this place. There isn't a perfect country where to live so if you are here respect where you are and their rules or go back home.

Oh, please. Somewhere I'm sure the world's smallest violin plays for you.

No one as far as I can see is slagging off Thailand. People are slagging off the banks. Seeing as a lot of us are putting money in them - I'd say they're fair game.

The banks here are shit. That's a simple fact. I'm not saying the banks in my country aren't, but we're not talking about Banks in my country. Open a thread, and I''d say the same thing. How radical am I? Slagging off my 'own' banks. (I bring great shame to my fellow Brits) Maybe I should be careful or I'll make the lovely Mr. Bank Manager sad.

These banks, no matter where they're from don't care who you are or where you're from. They'll rip anyone off. I pay money into the banks in this country. I will slag them off all I like. That's my prerogative as a foreigner.

[kirk0233]

They are not LOSING 100 mill bht, only losing what they got for free in the first place.

You pay for opening an account, virtually get no interest, pay for an atm card, pay to close an account, pay yearly fees for having your account.

What do you get in return--NOWT. All they get is what I mentioned, plus OUR MONEY they keep and use to lend others at a rate of borrowing 10% + They have a nerve.

How long have they been charging at a.t.m.? they should have quite a bit of revenue from it. Now they say they are going to lose money.. A JOKE April 1st early

Where you come from ? you sure in your country the banks are free of charge ? in Italy and in all other countries from my experience banks are a pain. So before speak like many other how shit is this or that in Thailand check your home country and much more if you don't like what they do here why you are here ? why you not go back home and make this place free of people like you ? Too many users here only like to speak bad about Thailand but still always here, live here and spend money here so why speak ? Shut up is better or if you are a man go back home and live in your country.

This comment is for everyone who usually speak bad about this and that but still live here. Is really annoying to read every time always the same shit from people who live here but usually speak bad about this place. There isn't a perfect country where to live so if you are here respect where you are and their rules or go back home.

I guess where you come from freedom of speech is frowned on or not allowed?

[rich54321]

I think NO CHANCE on the 150 baht - they appear to be looking after the local population again and stuff all foreigners

[warfie]

I noticed the other day that Siam Commercial don't charge me anything to withdraw from my Hong Kong based Hang Seng bank account.

I've tried 2 Siam Commercial ATMs and both times there was no fee.

I bank here with Kasikorn and out of habit always used their ATMs, even when using my HK ATM card and always got charged the 150 baht, so was pleasantly surprised that Siam Commercial don't charge.

Just use AEON - no fees for overseas CC ATM withdrawals.

The day BKK bank charge me a fee to withdraw my money from my account is the day I close it.

DO IT NOW BEFORE THEY LOSE IT ALL!!!

[ubonrthai]

I guess the 150 baht for farangs stays.....

No fee at http://www.aeon.co.th/lang/en/menu/Service_Location

[mahtin]

I guess the 150 baht for farangs stays.....

No fee at http://www.aeon.co.t...ervice_Location

no fee, but no atm

[POSA290103]

They are not LOSING 100 mill bht, only losing what they got for free in the first place.

You pay for opening an account, virtually get no interest, pay for an atm card, pay to close an account, pay yearly fees for having your account.

What do you get in return--NOWT. All they get is what I mentioned, plus OUR MONEY they keep and use to lend others at a rate of borrowing 10% + They have a nerve.

How long have they been charging at a.t.m.? they should have quite a bit of revenue from it. Now they say they are going to lose money.. A JOKE April 1st early

Where you come from ? you sure in your country the banks are free of charge ? in Italy and in all other countries from my experience banks are a pain. So before speak like many other how shit is this or that in Thailand check your home country and much more if you don't like what they do here why you are here ? why you not go back home and make this place free of people like you ? Too many users here only like to speak bad about Thailand but still always here, live here and spend money here so why speak ? Shut up is better or if you are a man go back home and live in your country.

This comment is for everyone who usually speak bad about this and that but still live here. Is really annoying to read every time always the same shit from people who live here but usually speak bad about this place. There isn't a perfect country where to live so if you are here respect where you are and their rules or go back home.

I had free ATM worldwide with US, TD Banknorth until March 8th. They even reimbursed my fees incurred in Thailand. It doesn't matter where you are in the world, Banking is a business and they will make a profit any way they can. The teaser rates and perks have a expiration date which is your responsibility to monitor. Nothing stays the same in banking or anything else for that matter so keep a watchful eye on everything you do in personal finance . Thailand is, from my experience, more than fair with their banking rates but you can always find a better deal by shopping around. In the World economy you have to maintain control over your involvement , regardless of where you may be. I believe this is a positive sign but for every positive there is a negative. Knowing that, gives you an advantage over everyone who is sitting on their hands waiting for the ax to fall or just complaining. Keep the positive, flush the negative.

[bikerjoy]

Wonder if they'll reduce the 150 Baht foreign card usage fees also...

Keep on dreaming. Banks here are the second biggest rip off right after the Thai police.

GOOD ON YOU - YOU GOT THE RIGHT IDEA

RIP-OFF THATS WHAT IT IS.

CHEERS,

p.

[Deerculler]

batblaster

I agree with you.

[wpcoe]

From the OP:

All commercial banks will be able to adjust their ATM related service fees down by the end of this month as they have agreed in their meeting late last year, according to the Bank of Thailand (BoT).

"Will be able to..." Huh? Is there some government regulation against lowering the fees voluntarily and at will, any time a bank wants to?

...state-owned Krung Thai Bank has taken the lead in reducing the fees, and other commercial banks are expected to follow suit by the end of March 2011.

So Krung Thai Bank can initiate fee drops? By being "expected to follow suit," does that mean other commercial banks are *required* to, or is it optional?

I always assumed that if one bank wanted to lower its fees, it could at any time? You know, like for competitive reasons?

[ginjag]

They are not LOSING 100 mill bht, only losing what they got for free in the first place.

You pay for opening an account, virtually get no interest, pay for an atm card, pay to close an account, pay yearly fees for having your account.

What do you get in return--NOWT. All they get is what I mentioned, plus OUR MONEY they keep and use to lend others at a rate of borrowing 10% + They have a nerve.

How long have they been charging at a.t.m.? they should have quite a bit of revenue from it. Now they say they are going to lose money.. A JOKE April 1st early

Where you come from ? you sure in your country the banks are free of charge ? in Italy and in all other countries from my experience banks are a pain. So before speak like many other how shit is this or that in Thailand check your home country and much more if you don't like what they do here why you are here ? why you not go back home and make this place free of people like you ? Too many users here only like to speak bad about Thailand but still always here, live here and spend money here so why speak ? Shut up is better or if you are a man go back home and live in your country.

This comment is for everyone who usually speak bad about this and that but still live here. Is really annoying to read every time always the same shit from people who live here but usually speak bad about this place. There isn't a perfect country where to live so if you are here respect where you are and their rules or go back home.

I had free ATM worldwide with US, TD Banknorth until March 8th. They even reimbursed my fees incurred in Thailand. It doesn't matter where you are in the world, Banking is a business and they will make a profit any way they can. The teaser rates and perks have a expiration date which is your responsibility to monitor. Nothing stays the same in banking or anything else for that matter so keep a watchful eye on everything you do in personal finance . Thailand is, from my experience, more than fair with their banking rates but you can always find a better deal by shopping around. In the World economy you have to maintain control over your involvement , regardless of where you may be. I believe this is a positive sign but for every positive there is a negative. Knowing that, gives you an advantage over everyone who is sitting on their hands waiting for the ax to fall or just complaining. Keep the positive, flush the negative.

I don't keep my eggs in 1 basket, and do shop around, I merely pointed out that it is the banks that are grumbling, Having your money giving near 0% . They don't worry me in the slightest- but the moan was worth the dig at them

[dunkin2012]

From the OP:

All commercial banks will be able to adjust their ATM related service fees down by the end of this month as they have agreed in their meeting late last year, according to the Bank of Thailand (BoT).

"Will be able to..." Huh? Is there some government regulation against lowering the fees voluntarily and at will, any time a bank wants to?

...state-owned Krung Thai Bank has taken the lead in reducing the fees, and other commercial banks are expected to follow suit by the end of March 2011.

So Krung Thai Bank can initiate fee drops? By being "expected to follow suit," does that mean other commercial banks are *required* to, or is it optional?

I always assumed that if one bank wanted to lower its fees, it could at any time? You know, like for competitive reasons?

I wanna let you know for your understanding...

To get some ideas of how the system works.

There is Thai Banker's association http://www.tba.or.th/. They have to be agreements from the association. Additionally,they can't do whatever they want cos' they are strictly controlled by the Bank of Thailand.

Edited March 22, 2011 by dunkin2012

[tomallison]

Use Aeon bank they do not charge fees...For atm

Easier said than done.

My nearest to home Aeon facility is about 400 km away.

[tigermonkey]

From the OP:

All commercial banks will be able to adjust their ATM related service fees down by the end of this month as they have agreed in their meeting late last year, according to the Bank of Thailand (BoT).

"Will be able to..." Huh? Is there some government regulation against lowering the fees voluntarily and at will, any time a bank wants to?

...state-owned Krung Thai Bank has taken the lead in reducing the fees, and other commercial banks are expected to follow suit by the end of March 2011.

So Krung Thai Bank can initiate fee drops? By being "expected to follow suit," does that mean other commercial banks are *required* to, or is it optional?

I always assumed that if one bank wanted to lower its fees, it could at any time? You know, like for competitive reasons?

Correct me if I'm wrong, but I believe that Krung Thai Bank is owned by the government. The government makes a policy decision - KTB implements it -- and others are expected to follow..

There are two little gems now in place at KTB which are relatively new, and I don't know if other banks are following. Both are for foreign nationals ( including farangs) -- 150 Baht optional extra charge for an ATM receipt for a withdrawal from a foreign bank. ( yes, the total is 300 Baht) -- and, O % interest for all savings accounts where a foreign national is account holder or co-holder.

It pays to shop around and find your best deal !

Edited March 22, 2011 by tigermonkey

[nong38]

I think someone hit the nail on the head when they said that banks and insurance companies are the modern highway robbers.................... DICK TURPIN WITHOUT A MASK SPRINGS TO MIND! I only make one withdrawal a month to rty avoid all the UK overchargers, I dont get charged here, its the best I can do for now. Might consider a mattress with combination, Thai beds seem to be biult like that.

[TPI]

I don't want to protect the banks because after all they as well the insurance companies are the modern highway robbers but comparing the fees in Thailand to the fees in Germany for example is definitely harmless. In Germany they started without any fees many years back but now you pay for every transaction doesn't matter from where to where. Even talking money from the ATM cost you money. That's why they can build all those office palaces, pay their executives big bonuses and loose our money in questionable investments which again are bailed out by the tax payers.

This is the greatest BS ever! If you are 2 dumb to have your account at the right bank in Germany than you pay. However there are several german banks that do not charge a single penny for worldwide!!! Atm transaction, even if you use your german Visa card with the ATM in Thailand (Bank will refund the 150 baht).

Your last comment tops everything! It is stupid people like you that allow banks to built sumptous offices ONLY because YOU do not compare prices. Germany has a perfectly functioning retail banking system, which is the most efficient and cheapest system of the world. READ again I said retail banking not investment banking.

All very well "sunshine" if you happen to have access to a German bank! Some of us non- European's have to live with what we've got! Pour some water (or beer) on you anger and allow others to comment on the greedy miserable miserly bottom feeders that pass themselves off as human beings who, since they have been invented have done nothing but sow war and famine throughout the world! God curse all bankers!

[sunray69]

I think NO CHANCE on the 150 baht - they appear to be looking after the local population again and stuff all foreigners

I have a Thai friend who visited Spain lately and each time he withdrew money at an ATM in Spain (from his Thai bank account), there was also an extra charge of 3 euro...

[ding]

Say what you will, this is unheard of in America! Good for Thailand banks

Banks started pushing us to use ATM's so they could fire more expensive teller labor. They did. Then the camel's nose poked under the tent with fees and surcharges. They only go up, not down. Banks need their money changer tables turned upside down.

You want corruption? I got yer corruption right here baby!

[HereIAm]

Yes, I suspect the banks WILL indeed find other sources of income to make up. Like increasing the ATM charges for foreigners from 150 baht to what ? After all there are at least 12 million tourists a year in Thailand. If we assume even 10% of those tourists rely on ATM withdrawals, and if we further assume just ONE withdrawal per tourist, it translates to at least 1.2 million ATM withdrawals by foreign tourists a year -- yielding a fee income of 180 million baht a year at current levels. Now jack that up to 300 baht and PRESTO !! an additional 180 million baht income to make up for that so-called 100 million baht loss.

[Pib]

Banks rearranging their fee structure by announcing one or two fee reductions while not mentioning the probable offsetting fee increases is an art that they pay their executives big salaries/bonuses to come up with (a.k.a., smoke and mirrors). And of course, the banks always blame any fee increase on some new government regulation/law, something out of their control, just gotta do it to remain profitable, etc. I have no doubt when the dust settles the overall fee structure is bringing in more fee profits. Banks are becoming more fee hungry everyday. Sorry, my opinion of many banks drops a litte lower every day. Still some good banks out there that don't seem as fee hungry as other banks, but it seems these good banks are becoming a little less good everyday.

[jessicar]

• you all must be very poor, if you can't afford the <deleted>.......g 20 baht.
• spending thousands for ladies and beer but complain about atm fees.
• Cheep Charlies
• i guess you all are this people who buy beer in 7/11 and go in walkingstreet, but don't spent a baht there.
• do we need this in thailand?

[warfie]

All I can say is Thank God for thaivsia otherwise where would u all have to complain.

You guys are amzing. complaining abou less than a $1 to withdraw money.

uheeam,,, it's more like $5 plus whatever your home bank charges, part of which is paid to the international bank.

[connda]

Well -- here come's 300 baht non-domestic ATM fees just it time for a strengthening baht. I hear Cuba is a great place for a vacation...might be time to settle down in a less developed developing country. Corona anyone? Cuba cigar? San Migual Dark? ¿Habla usted español?

Edited March 22, 2011 by connda

[geezer553]

lets hope they also abolish the 150baht fee for us farrang----this country is unbelievable-love the thai culture but the banking system is a law upon themselves.

i wouldnt mind if i recieved a decent service-when cashing travellers cheques they want so much information it takes an age cha cha just to recieve your money and the exchange rates are another issue all banks differ my advise use the yellow exchange better exchange than the banks,.

in the uk its illegal charging customers a fee for using another bank- the big problem will occure within 18months after intrest rates soar and colapse in the property market!!!!

[gregb]

ATM Fees are to be reduced??? REDUCED? Last year, a cross bank ATM withdrawl after the first 4 was charged at 3 baht. Then without notice, it was increased to 5 baht.

Now they RAISE it to 10 baht, and they call it a REDUCTION? What planet do these people live on?

THEY ARE INCREASING FEES, NOT REDUCING THEM.

I'm sorry. All bankers should simply be shot on sight. They are truly the scum of the Earth. At least lawyers have a purpose. Bankers are just blood sucking scumbags. There really is no excuse for their existence.

[TAWP]

All ATM withdrawals from Citibank accounts are free, no-matter which ATM you use...

[Bakseedaa]

Wonder if they'll reduce the 150 Baht foreign card usage fees also...

If you go to the right bank, there is no 150 baht fee, its free.... Aeon Bank ATMs....

[Bakseedaa]

ATM Fees are to be reduced??? REDUCED? Last year, a cross bank ATM withdrawl after the first 4 was charged at 3 baht. Then without notice, it was increased to 5 baht.

Now they RAISE it to 10 baht, and they call it a REDUCTION? What planet do these people live on?

THEY ARE INCREASING FEES, NOT REDUCING THEM.

I'm sorry. All bankers should simply be shot on sight. They are truly the scum of the Earth. At least lawyers have a purpose. Bankers are just blood sucking scumbags. There really is no excuse for their existence.

GregB.... you are 100% correct.... they are scumbags... robbers without the masks....

[Nisa]

Wonder if they'll reduce the 150 Baht foreign card usage fees also...

Just an FYI .... AEON Bank ATMs don't charge 150 Baht fee

You can check where they have ATMs here ... http://www.aeon.co.th/lang/en/menu/Service_Location/region/Bangkok#soutput

Still get the fee from my home bank but at least I don't feel like I am throwing away another $5

[Nisa]

All ATM withdrawals from Citibank accounts are free, no-matter which ATM you use...

Do you know if this is true if you have a foreign Citibank Account? In other words if I open a standard account at Citibank in the USA, will I still get hit up with the international fees on both ends using their ATMs in Bangkok?

Edited March 22, 2011 by Nisa