Aeon Atm Clarification

[wishIwas49]

Getting things organized for LOS move and have been going through the banking posts for a couple weeks.

Realize the horse is not only beat, but good and dead already, but could someone please clarify if AEON ATMs accept regular ATM cards (without an MC or Visa logo).

My understanding from reading is they are not a bank, thus do not charge the 150 baht fee in any case - except the Chivas wife mystery..

Mine is a Credit Union ATM only card (from the US) with PLUS, COOP and INTERLINK logos on the back.

I use it at overseas ATMs where I live now (not LOS) and escape the 1% fee being it's not a visa or MC product. I get the local ATM fee and a $1.00 credit union charge but get the $1.00 back if the ATM is on their friendly list.

Think I recall using the ATM card at BKK bank a while ago. Got the 150 charge but got back my $1.00 credit union fee at the end of the month.

In short, if AEON takes my PLUS ATM card and they are on my c union's list, I would be able to access my US checking account for nothing, except any FOREX difference? In the absence of that nirvana, I would make the move to Schwab.

---

Thanks in advance, and to Pib in particular for a lengthy, informative post on Schwab and Capitol 1. Applied for the Capitol 1 MC 2% / 1% cashback card this evening.

Thanks and regards,

Jay

[1weatherman]

Interesting question. I am guessing that the ATM's you use now, in whatever country that is, is part of the COOP network and thus your CU will reimburse you the $1 fee because they are on the "friendly" list. (I'm trying to think back to my time a few years back working/toiling at a CU in the states as an ATM guy. Don't remember us having "friendly" overseas ATM's.

But things could be different now. For the military for example.) The AEON ATM's still do not charge the 150 baht fee. It is the only ATM I use. But whether they will accept just a regular ATM card, umm. My guess is no. I don't have just a ATM only card from my CU in the states but if I did it would not work over here. I don't even get my $1.50 international ATM fee reimbursed using my Visa debit/credit card which is ok as it's not that much. I, or if someone else can look at a AEON ATM at the Logos on the ATM and see which ones are on it, can tell you. I won't be venturing out today but Wednesday I can look and see and report back. It maybe just as easy to call your CU and ask. If it weren't for AEON not charging the 150 baht ATM fee there would be no "friendly" ATM's over here at all.

[AzarovDmitriy]

I used AEON ATM yesterday. And I can say from my experience. I paid fee about 4,7%-5% (Visa Card). And about 10 baht for to see my balance.

[55Jay]

Interesting question. I am guessing that the ATM's you use now, in whatever country that is, is part of the COOP network and thus your CU will reimburse you the $1 fee because they are on the "friendly" list. (I'm trying to think back to my time a few years back working/toiling at a CU in the states as an ATM guy. Don't remember us having "friendly" overseas ATM's.

But things could be different now. For the military for example.) The AEON ATM's still do not charge the 150 baht fee. It is the only ATM I use. But whether they will accept just a regular ATM card, umm. My guess is no. I don't have just a ATM only card from my CU in the states but if I did it would not work over here. I don't even get my $1.50 international ATM fee reimbursed using my Visa debit/credit card which is ok as it's not that much. I, or if someone else can look at a AEON ATM at the Logos on the ATM and see which ones are on it, can tell you. I won't be venturing out today but Wednesday I can look and see and report back. It maybe just as easy to call your CU and ask. If it weren't for AEON not charging the 150 baht ATM fee there would be no "friendly" ATM's over here at all.

Thanks AG - Weatherman, look forward to your Wednesday eyeballs on the AEON machine.

Yes, it's one of those military type credit unions, so pretty good list of foreign bank ATMs which they will rebate their own $1.00 charge, but not any local ATM charges, such as the 150 Baht in Thailand.

When I first got my Visa debit card with them a number of years back, end of month stmt with all the 1% int'l charges for foreign currency purchases and ATMs! I hit the roof.

Soon enough though, as per the master, global financial plan for serfs, I took the blue pill and washed it down with the kool aide and became a good little drone with the 1,000 yard stare, walking around swiping my 1% Visa charge and Debit card, repeating in a monotone voice, "It's not that much, other banks charge more, my financial institution is doing me a favor by charging me less. Visa is wonderful. Charge it please" -- message repeats" AEON keeps making me see Keanu Reeves waking up in his soup pod, ripping the tubes and cables out, only to be flushed down the sewer. Reject Drone, failure to comply!

Edited June 28, 2011 by 55Jay

[Pib]

I used AEON ATM yesterday. And I can say from my experience. I paid fee about 4,7%-5% (Visa Card). And about 10 baht for to see my balance.

You probably realized the bank that issued the card charged that 4.7-5% fee; not the AEON ATM. Sounds like it may be time to switch to a bank that provides a no foreign transaction fee card. Some examples of such banks for U.S. folks are State Farm, Schwab, Capital One, etc.

[Pib]

Here's a post by jfchandler which provides a photo of the logos accepted by an AEON ATM. Since you said you had the Plus logo on your ATM card you'll probably be OK.

http://www.thaivisa....ost__p__4181972

Just as FYI, a few months ago those folks with Cap One ATM card got shocked when Cap One switched its ATM cards to the Cirrus network.. AEON ATM do not work with the Cirrus network. So, Cap One ATM cards that use to work stopped working on AEON ATM...I think Cap One ATM cards previously used the Plus network.

[BigRick]

AEON is great I have used them for a couple of years. You just have to be good at locating them the one in MBK has no sign except for the color scheme.(National stadium entrance to MBK take a right follow the gallery down until you see the only ATM without makings on the right wall) Siam Paragon is a pain to find also. The best bet is always cash you do not lose any money and places like Siam Commercial exchange and Superrich give the best exchange rates. Make sure your network is supported my cousin had NYSE last year and got fugged on having to do a swift because they would not accept his ATM network.

Edited June 28, 2011 by BigRick

[jfchandler]

Pib's correct above...

AEON machines will accept all U.S. issued VISA and MC logo debit cards...

And for non VISA or MC logo cards, such as straight ATM cards, AEON ATMs will accept those with the PLUS logo on the reverse. But AEON does not accept non VISA/MC logo cards with only CIRRUS on the reverse.

For any bank card that AEON ATMs accept, there will be NO 150 baht withdrawal fee ... unlike the Thai banks. And the exchange rate will be as good or better than what you get from any Thai bank transaction...even apart from the Thai banks' 150 baht withdrawal fee on non-Thai cards.

[55Jay]

Pib's correct above...

AEON machines will accept all U.S. issued VISA and MC logo debit cards...

And for non VISA or MC logo cards, such as straight ATM cards, AEON ATMs will accept those with the PLUS logo on the reverse. But AEON does not accept non VISA/MC logo cards with only CIRRUS on the reverse.

For any bank card that AEON ATMs accept, there will be NO 150 baht withdrawal fee ... unlike the Thai banks. And the exchange rate will be as good or better than what you get from any Thai bank transaction...even apart from the Thai banks' 150 baht withdrawal fee on non-Thai cards.

Thank you Pib and JFC, that's exactly what I asked, needed, and hoped. Still may open a Schwab before I move my tent over to Pattaya as a ready back up + the Capitol 1 MC credit card for purchases.

Thanks also to Weatherman if he responds after visiting the ATM on 6/29.

Regards,

Jay

wishIwas49 acct from 2007 now closed, 55Jay going forward. Cheers, J.

[jfchandler]

Having a no-fee Schwab bank card and using AEON ATMs are two opposite and complimentary ends of the same spectrum....

The Schwab bank card has no VISA/MC 1% card network fee and no foreign currency surcharge on foreign transactions, as well as reimbursing other banks' regular ATM charges, including the Thai banks' 150 baht foreign card withdrawal fee, if someone really must use a Thai bank ATM.

The AEON ATMs are the best, most widely available ATM option in Thailand that doesn't charge the 150 baht withdrawal fee on non Thai bank cards, a fee that is basically is charged by all the Thai bank ATMs.

By using the Schwab bank card at an AEON ATM instead of a Thai bank ATM, you're avoiding Schwab having to pay the 150 baht fee charged by the Thai banks, and hopefully helping keep the Schwab bank card and its good features viable for the long term, and well as not submitting to the Thai banks' ripoff ATM fee.

[55Jay]

Having a no-fee Schwab bank card and using AEON ATMs are two opposite and complimentary ends of the same spectrum....

The Schwab bank card has no VISA/MC 1% card network fee and no foreign currency surcharge on foreign transactions, as well as reimbursing other banks' regular ATM charges, including the Thai banks' 150 baht foreign card withdrawal fee, if someone really must use a Thai bank ATM.

The AEON ATMs are the best, most widely available ATM option in Thailand that doesn't charge the 150 baht withdrawal fee on non Thai bank cards, a fee that is basically is charged by all the Thai bank ATMs.

By using the Schwab bank card at an AEON ATM instead of a Thai bank ATM, you're avoiding Schwab having to pay the 150 baht fee charged by the Thai banks, and hopefully helping keep the Schwab bank card and its good features viable for the long term, and well as not submitting to the Thai banks' ripoff ATM fee.

Thanks again, think I'm on the right track.

In short, my plan is 3 fold.

1. Maintain my US CU account and use the PLUS ATM only card at AEON for routine withdraws. I've got the DDS and paying investments there so really didn't want to change all that up if I didn't have do. We'll be in the Pattaya area so hitting the AEON would be no prob. In fact, entering a semi-retirement lifestyle, sense I'll be happy to have something on my calendar - Monday: ATM Run, 0900-1000. It's the other 23 hours and 6 days I need to figure out what to do with myself. Wife unit has SCB and BKK bank accounts, so may as well deposit some of my ATM bootie in there. Keeps her happy and is another aw shitte tool in the box.

2. Likely open a Schwab account, link to my CU account and keep some loot there. If something happens with the CU ATM only card, or if on the road and need an ATM, and no AEON is available, it'll be a nice back up to have in the wallet. Agreed on not abusing the Schwab card fee rebates. I'm not going to be "the guy" who helps kick that golden egg goose in the beak.

3. As my CU cashback Visa credit card takes the 1% foreign transaction fee, have applied for a Cap 1 MC 2%/1% cashback and would use that routinely to accrue the cashback. I am working the <deleted>' strip off my current CU cashback, which is 1% up to $10,000 and 1.5% over $10,000 in the year and have done very well so far. However, Cap 1 has the edge and the great deal on 1% avoidance. Understand the MC might get a smidge less FOREX than Visa but not going to wring my hands over it. Gotta give a little bit somewhere to keep the man happy. Regards, J

[Pib]

Why use the CU ATM card at any location outside the U.S. which would result in a 1% foreign transaction fee if you end up opening a Schwab account which provides a debit card with zero foreign transaction fee? Also don't forget to check out State Farm Banking. I have Schwab and State Farm accounts with their zero foreign transaction fee debit cards and prefer to use the State Farm account since it's generally easier and faster to setup funds transfer links (i.e., move money from bank to bank) than Schwab...Schwab still requires the mail-in of forms to setup transfer links with its checking & savings accounts, but you can do a online trial deposit setup using their brokerage account and then transfer money to the Schwab checking/savings account...ends up being a lot of extra transferring around. Plus, State Farm provides a higher interest rate. No need to give up your CU, but CU's many times don't provide the best or cheapest online banking service like free ACH transfers, etc....I base this statement on my lifetime of having some CU accounts, even those CU's that are military focused. While CU's are generally great for loans and face-to-face counter service, they may not provide all the capabilities/services/lower fees that larger national banks can offer, especially for living outside the U.S.

In preparing for your move (BEFORE YOU MOVE TO THAILAND), be sure to get a banking/credit card account(s) which provide: (1) free & online ACH funds transfer, (2) zero foreign transaction fee debt card, (3) and a zero foreign transaction fee credit card preferably with cash back like the Cap One card you are thinking about (P.S. the CapOne No Hassle $2%/1% Cash Back, No foreign fee Mastercard works great here in Thailand...I use it for the great majority of my day-to-day living expenses here in Bangkok).

If you don't have all three setup, you are not setup like you should be for a move to Thailand; instead, you are setup for banking fees, headaches, and frustrations which no one likes. Having all three above setup will eliminate many banking/financial headaches of moving to Thailand, will provide you U.S. consumer/FDIC protection, and make you feel like you are still banking in the U.S.. I now have myself lined up with these capabilities but did it after I moved/retired to Thailand. Before moving to Thailand I was just setup with a CU account with debit card which had a foreign transaction fee and no free online ACH transfer, a BofA account which gave $3 ACH transfers and a foreign transaction fee debit card, and several credit cards which all had foreign transaction fees.

Even through I have a Bangkok Bank account with their debit card I still have to occassionally recharge that account with deposits/transfers and, remember, there is little-to-no consumer protection for use of Thai debit and credit cards. Each Thai bank has pretty much its own card policies which is usually the bank is always right & the customer shouldn't have lost/had copied their Thai debit/credit card. I still have my Bangkok Bank account and debit card, and use the debit card periodically when I can't find a AEON ATM to use my U.S. debit cards or don't want want my U.S. banks to spend money to reimburse me for a Thai bank ATM 150 baht foreign card usage charge. I basically use my Bangkok Bank (good bank) account for its internet banking capability to pay monthly utility type bills. And to recharge my Bangkok Bank account I use an AEON ATM in my nearby Lotus or Big C, can use both my Schwab and State Farm Visa debit cards to pull out up to $1000 per day using each card (totals a little over 60,000 baht at the current exchange rate), walk around the corner to the Bangkok Bank cash deposit machine, and then deposit the money. In less than 10 minutes, sometimes less than 5 minutes, I have just got money from the States and deposited in my Thai bank account with absolutely no transfer fees and no X-business days of waiting for the money to show up via ACH/SWIFT transfer. ACH transfers from the U.S. to Thailand have pretty much become a thing of the past for me; ACH transfer now only serve as a backup to get money or if I need to transfer a BIG chunk of change within 3 business days for a near term, unexpected expense..

It's a lot easier and faster to get the bank/credit card accounts while still living in the U.S. compared to after moving out of the U.S. Be truly prepared banking/debit/credit card wise before you move. Good luck in the move.

Edited June 29, 2011 by Pib

[jfchandler]

Good advice from Pib... re moving preparations..

I'd add....

--pre-arrange a U.S. mailing address/mail forwarding service to keep and use for your banking and other official business. There are some banks and credit card companies that don't take well to customers using foreign addresses.

--settle any arrangements for life insurance that you may want/need while living in the U.S. Life insurance coverage and pricing in Thailand is generally lousy. Quite a few states, but not all, have laws that forbid insurers from inquiring or basing their underwriting on one's past or planned future travel plans.

--same thing for any will to cover any U.S. assets you want to direct... Wills and the execution of them are state-based, not federal, so you want to settle that under your particular state of residence.

[55Jay]

Why use the CU ATM card at any location outside the U.S. which would result in a 1% foreign transaction fee if you end up opening a Schwab account which provides a debit card with zero foreign transaction fee? Also don't forget to check out State Farm Banking. I have Schwab and State Farm accounts with their zero foreign transaction fee debit cards and prefer to use the State Farm account since it's generally easier and faster to setup funds transfer links (i.e., move money from bank to bank) than Schwab...Schwab still requires the mail-in of forms to setup transfer links with its checking & savings accounts, but you can do a online trial deposit setup using their brokerage account and then transfer money to the Schwab checking/savings account...ends up being a lot of extra transferring around. Plus, State Farm provides a higher interest rate. No need to give up your CU, but CU's many times don't provide the best or cheapest online banking service like free ACH transfers, etc....I base this statement on my lifetime of having some CU accounts, even those CU's that are military focused. While CU's are generally great for loans and face-to-face counter service, they may not provide all the capabilities/services/lower fees that larger national banks can offer, especially for living outside the U.S.

In preparing for your move (BEFORE YOU MOVE TO THAILAND), be sure to get a banking/credit card account(s) which provide: (1) free & online ACH funds transfer, (2) zero foreign transaction fee debt card, (3) and a zero foreign transaction fee credit card preferably with cash back like the Cap One card you are thinking about (P.S. the CapOne No Hassle $2%/1% Cash Back, No foreign fee Mastercard works great here in Thailand...I use it for the great majority of my day-to-day living expenses here in Bangkok).

If you don't have all three setup, you are not setup like you should be for a move to Thailand; instead, you are setup for banking fees, headaches, and frustrations which no one likes. Having all three above setup will eliminate many banking/financial headaches of moving to Thailand, will provide you U.S. consumer/FDIC protection, and make you feel like you are still banking in the U.S.. I now have myself lined up with these capabilities but did it after I moved/retired to Thailand. Before moving to Thailand I was just setup with a CU account with debit card which had a foreign transaction fee and no free online ACH transfer, a BofA account which gave $3 ACH transfers and a foreign transaction fee debit card, and several credit cards which all had foreign transaction fees.

Even through I have a Bangkok Bank account with their debit card I still have to occassionally recharge that account with deposits/transfers and, remember, there is little-to-no consumer protection for use of Thai debit and credit cards. Each Thai bank has pretty much its own card policies which is usually the bank is always right & the customer shouldn't have lost/had copied their Thai debit/credit card. I still have my Bangkok Bank account and debit card, and use the debit card periodically when I can't find a AEON ATM to use my U.S. debit cards or don't want want my U.S. banks to spend money to reimburse me for a Thai bank ATM 150 baht foreign card usage charge. I basically use my Bangkok Bank (good bank) account for its internet banking capability to pay monthly utility type bills. And to recharge my Bangkok Bank account I use an AEON ATM in my nearby Lotus or Big C, can use both my Schwab and State Farm Visa debit cards to pull out up to $1000 per day using each card (totals a little over 60,000 baht at the current exchange rate), walk around the corner to the Bangkok Bank cash deposit machine, and then deposit the money. In less than 10 minutes, sometimes less than 5 minutes, I have just got money from the States and deposited in my Thai bank account with absolutely no transfer fees and no X-business days of waiting for the money to show up via ACH/SWIFT transfer. ACH transfers from the U.S. to Thailand have pretty much become a thing of the past for me; ACH transfer now only serve as a backup to get money or if I need to transfer a BIG chunk of change within 3 business days for a near term, unexpected expense..

It's a lot easier and faster to get the bank/credit card accounts while still living in the U.S. compared to after moving out of the U.S. Be truly prepared banking/debit/credit card wise before you move. Good luck in the move.

I have been reading all the banking related posts in the past couple weeks, including best practices on moving larger sums into Thailand, credit cards and debit cards, etc.

My CU ATM only card of the PLUS variety, does not get the 1% foreign transaction as its not a Visa/MC product. Tried and true on that note being overseas the past 13 years.

Being my question/topic was about my ATM only card at AEON and the 150 chg, and being a newbie again on the forum, was trying to keep myself on topic. However, your latest responses (You and JFC) gets another nod and highlights the natural fact that a comprehensive financial life strategy overseas, Thailand or otherwise, is never cut and dry, and always involves peripheral issues which need to be considered as part of the overall plan. Even if it strays from the "keep it on topic" guideline. It's all connected.

Rest assured, my eyes are open and in fact, may impose on you guys a few times in the future as I work down my detailed LOSTD in and among the pesky job responsibilities.

End of the day, I plan to be set up more or less on the same pattern you've established - thanks for State Farm note, I'll check it out also. Thing I need to work on is the Chang Beer. Tried one a few years ago up at the Ranch, got a pounding headache after the first few swallows, and poured the rest under our chok dee wedding sugar cane thing. What happened next made me very glad I didn't pour it into the fish pond!

Thanks again, in particular to you and JFC. Regards, J.

[JimGant]

My CU ATM only card of the PLUS variety, does not get the 1% foreign transaction as its not a Visa/MC product

But it rides Visa's PLUS network, which is where the 1% foreign transaction fee originates. It's up to the issuing financial institution whether or not to "eat" this 1% fee. Odds are your CU doesn't -- but it's not completely unheard of.

[55Jay]

My CU ATM only card of the PLUS variety, does not get the 1% foreign transaction as its not a Visa/MC product

But it rides Visa's PLUS network, which is where the 1% foreign transaction fee originates. It's up to the issuing financial institution whether or not to "eat" this 1% fee. Odds are your CU doesn't -- but it's not completely unheard of.

Well s****! Another pearl. I never knew PLUS was a Visa system until you said that. Looked it up too....

My CU told me no 1% but that was a very long time ago and while I confidently said "tried and true" earlier, in practice, I haven't tested in for a long time. Wishful thinking, head in sand, more likely head in dark, moist orifice.

Thanks, I'll follow up on that and if there's been some change, I'll adjust accordingly as to plan.

:jap:

Jay

[jfchandler]

These days, it's certainly the exception of a U.S. institution that doesn't charge the 1% card network fee and, even worse, their own add-on foreign currency conversion fee.

And it's my impression that a lot of times, when the institution is only charging the 1% card network fee but not their own add-on, that it can be difficult To find mention of it in their account disclosures, perhaps because they view the fee as being charged by a different entity (the card networks).

Schwab, Capital One and State Farm Bank debit cards are among some of the larger institutions that are fully fee-free in terms of making ATM withdrawals and POS purchases abroad.

Some credit unions and a few banks offer a variety of special accounts whereby -- by having direct deposits, minimum balance and/or various other criteria -- they may charge the 1% fee initially, but then refund it at month's end along with any ATM fees incurred, either fully or up to some monthly amount, if the user's account has met all the required criteria.

[55Jay]

These days, it's certainly the exception of a U.S. institution that doesn't charge the 1% card network fee and, even worse, their own add-on foreign currency conversion fee.

And it's my impression that a lot of times, when the institution is only charging the 1% card network fee but not their own add-on, that it can be difficult To find mention of it in their account disclosures, perhaps because they view the fee as being charged by a different entity (the card networks).

Schwab, Capital One and State Farm Bank debit cards are among some of the larger institutions that are fully fee-free in terms of making ATM withdrawals and POS purchases abroad.

Some credit unions and a few banks offer a variety of special accounts whereby -- by having direct deposits, minimum balance and/or various other criteria -- they may charge the 1% fee initially, but then refund it at month's end along with any ATM fees incurred, either fully or up to some monthly amount, if the user's account has met all the required criteria.

Thanks again, JFC. It was a number of years ago and being I have a CU branch here, I've pretty well arranged myself to use that, and manually deposit local currency in my local currency bank account as needed.

I'm following up with the CU now and will do a test ATM run to make sure. All things even, really leaning toward one of the options, Scwhab, etc., route for Thailand.

Regards,

Jay

[55Jay]

Pib/JFC, et al., looking at State Farm Bank website, checking account and card services. Acknowledge and agree you said terms/conditions on the Visa 1% foreign transaction fee, above and beyond ATM fees, is not always spelled out being it's an external fee. Just wanted to confirm actual practice, if you have direct experience with State Farm account and their Visa logo debit card, that:

(1) Were I to open a SF checking account, move my DDS pension to it, and use the State Farm provided Visa debit card on that account for either ATM withdraws (put AEON aside for a moment, I'm clear on that) and/or POS debit in stores, such transactions would not get the Visa 1% foreign transaction fee; or if so, be rebated later.

(2) that foreign ATM fees, such as the 150 Baht if not using AEON, are rebated automatically rather than having to call the # given in their terms/conditions each time.

-----------

State Farm Bank® will not charge You for the use of ATMs not owned by the Bank (considered foreign ATMs). Further, the Bank will rebate a foreign ATM surcharge imposed by the ATM owner in any amount assessed against a State Farm Bank Checking, Interest Checking, or Money Market Account provided that there is a direct deposit via an Automated Clearing House (ACH) credit into that account during the statement cycle of the foreign ATM transaction. If there has been no direct deposit via an ACH credit into the State Farm Bank Checking, Interest Checking, or Money Market Account during the statement cycle, the Bank will rebate up to a total of $10 in foreign ATM surcharges per account per statement cycle. State Farm Bank Savings Accounts will be rebated up to a total of $10 in foreign ATM surcharges per account per statement cycle.

For International ATM Fees incurred travelling outside of the U.S., please call Us at 1-877-734-2265 to have your rebate applied to your account. For those customers who receive up to $10 per statement cycle, the amount of the International ATM Fee Rebate will be deducted from your $10 benefit.

When You use an ATM not owned by Us, You may be charged a fee by the ATM operator and You may be charged a fee for a balance inquiry even if You do not complete a fund transfer.

The Bank will impose a fee to non-State Farm Bank issued cards for withdrawing cash from a State Farm Bank ATM."

---------

Last, do you make any distinction between Schwab and State Farm products and level of service? One better, more responsive than the other, etc.

Still waiting on word back from CAP1 on my credit card application.

Thanks again,

Jay

[jfchandler]

Pib/JFC, et al., looking at State Farm Bank website, checking account and card services. Acknowledge and agree you said terms/conditions on the Visa 1% foreign transaction fee, above and beyond ATM fees, is not always spelled out being it's an external fee. Just wanted to confirm actual practice, if you have direct experience with State Farm account and their Visa logo debit card, that:

(1) Were I to open a SF checking account, move my DDS pension to it, and use the State Farm provided Visa debit card on that account for either ATM withdraws (put AEON aside for a moment, I'm clear on that) and/or POS debit in stores, such transactions would not get the Visa 1% foreign transaction fee; or if so, be rebated later.

(2) that foreign ATM fees, such as the 150 Baht if not using AEON, are rebated automatically rather than having to call the # given in their terms/conditions each time.

Jay, I can confirm the answer to your two questions above is YES regarding the Schwab checking account and associated debit card... Schwab doesn't charge any FCF or card network fee...and the only thing they have to rebate potentially are ATM fees charged by ATM operators/banks. Others will need to comment on the SF account.

BTW, here's a photo of the new style AEON ATMs that are being rolled out, which look pretty different from the traditional ones... this one is at the newly reopened (post fire/riots) Big C store opposite CentralWorld. AEON used to have a single ATM there in a parking structure lobby almost outside the store. They now have an actual branch and two ATMs in the main part of the store on the 3rd floor right in the middle of the Big C store there.

The green tinge is a function of their florescent lighting there.... If you look at the top you'll see the list of the various card networks that their ATMs will accept. The only biggie missing from the list are Non VISA or MC logo Cirrus network cards, i.e., straight bank ATM-only cards on the Cirrus network. VISA and MC logo cards with the Cirrus logo on the back work fine.

In case anyone's wondering, these ATMs also dispense hamburgers and french fries...

Edited July 5, 2011 by jfchandler

[55Jay]

Pib/JFC, et al., looking at State Farm Bank website, checking account and card services. Acknowledge and agree you said terms/conditions on the Visa 1% foreign transaction fee, above and beyond ATM fees, is not always spelled out being it's an external fee. Just wanted to confirm actual practice, if you have direct experience with State Farm account and their Visa logo debit card, that:

(1) Were I to open a SF checking account, move my DDS pension to it, and use the State Farm provided Visa debit card on that account for either ATM withdraws (put AEON aside for a moment, I'm clear on that) and/or POS debit in stores, such transactions would not get the Visa 1% foreign transaction fee; or if so, be rebated later.

(2) that foreign ATM fees, such as the 150 Baht if not using AEON, are rebated automatically rather than having to call the # given in their terms/conditions each time.

Jay, I can confirm the answer to your two questions above is YES regarding the Schwab checking account and associated debit card... Schwab doesn't charge any FCF or card network fee...and the only thing they have to rebate potentially are ATM fees charged by ATM operators/banks. Others will need to comment on the SF account.

BTW, here's a photo of the new style AEON ATMs that are being rolled out, which look pretty different from the traditional ones... this one is at the newly reopened (post fire/riots) Big C store opposite CentralWorld. AEON used to have a single ATM there in a parking structure lobby almost outside the store. They now have an actual branch and two ATMs in the main part of the store on the 3rd floor right in the middle of the Big C store there.

The green tinge is a function of their florescent lighting there.... If you look at the top you'll see the list of the various card networks that their ATMs will accept. The only biggie missing from the list are Non VISA or MC logo Cirrus network cards, i.e., straight bank ATM-only cards on the Cirrus network. VISA and MC logo cards with the Cirrus logo on the back work fine.

In case anyone's wondering, these ATMs also dispense hamburgers and french fries...

Thank ya' thank ya', JFC.

Was also just reading Cap1's banking section, which I hadn't looked at before, going straight to the credit card links. Seems to offer the same perks.

I'm beating up my CU right now about all this stuff, they are not yielding so far, too bad. So I'll have to adjust accordingly, but sure be nice to have bank, debit and credit card and accounts all in one place like I do now.

Burgers and fries ok. Curry would be messy, sticky key pad. :jerk:

[55Jay]

Baht to USD sliding on back to 30.something..... Best I saw during the past week pre-election/Euro troubles (whatever) was 30.9.

You guys are ahead of me 4 hours, so no news to you. But... my first cup of coffee this morning, desktop gadget was 30.6. 2nd cup 30.4 and holding, but TVisa ticker on the top of this screen says 30.32 at the moment.

I'm just whining.

J

Edited July 5, 2011 by 55Jay

[Pib]

Pib/JFC, et al., looking at State Farm Bank website, checking account and card services. Acknowledge and agree you said terms/conditions on the Visa 1% foreign transaction fee, above and beyond ATM fees, is not always spelled out being it's an external fee. Just wanted to confirm actual practice, if you have direct experience with State Farm account and their Visa logo debit card, that:

(1) Were I to open a SF checking account, move my DDS pension to it, and use the State Farm provided Visa debit card on that account for either ATM withdraws (put AEON aside for a moment, I'm clear on that) and/or POS debit in stores, such transactions would not get the Visa 1% foreign transaction fee; or if so, be rebated later.

(2) that foreign ATM fees, such as the 150 Baht if not using AEON, are rebated automatically rather than having to call the # given in their terms/conditions each time.

Jay,

In the SF disclosures they state no foreign transaction fee is applied. Even through Visa/Mastercard charges a 1% foreign transaction fee, SF eats this charge....no charge to you. Same for the Schwab debt card and CapOne No Hassle Cash Back Mastercard credit card.

Regarding the rebate of an ATM fee, I have been guarding the Golden Goose and not tried my SF or Schwab debit card on a non-AEON ATM yet because I have fairly easy access to a couple of AEON ATMs which charge no fee. However, jgm005 who turned me onto the SF debit card has tested the card on ATMs that charge the 150 baht fee and he was rebated promptly. See this post in the Topic regarding Schwab Brokerage/Checking/Savings accounts. Link. Other posts in this Schwab topic also confirm Schwab debit card ATM fee reimbursement.

I'm using the SF account more than the Schwab account simply because it was easier/faster to set ACH funds transfer links with SF versus Schwab. SF using online trial deposits to setup the links; for Schwab checking/savings accounts you must mail in a form to setup the link, except for their brokerage account which you can do online with trial deposits. Plus, the SF checking account pays a significantly higher interest rate of 0.74% compared to Schwab's checking account of 0.25% and their Savings account of 0.40%

CapOne has a checking account/debit card that pays a little over 1% but numerous posts indicate about every 3 or 4 months their debit card stops working when using it overseas and you have to call CapOne and tell them it truly is you using the card and you are just traveling overseas....then you are good for another 3 or 4 months. So far my SF debit card, Schwab debit card, and CapOne Credit Card have not been rejected....and I've been using the CapOne credit card for around 6 months now....just got my third $25 cash credit/rebate last week since I set up the rebate feature to provide the rebate whenever I reach $25...you can also set it up for a calendar basis or higher rebate amount....I use the CapOne credit card for many of my day-to-day living expenses.

Cheers,

Pib

[jfchandler]

CapOne has a checking account/debit card that pays a little over 1% but numerous posts indicate about every 3 or 4 months their debit card stops working when using it overseas and you have to call CapOne and tell them it truly is you using the card and you are just traveling overseas....then you are good for another 3 or 4 months.

Pib, as I know I've indicated before, I've certainly had that experience with Cap One's credit card... I've never had that experience, or made any notifications or had any blocks imposed, on what now is their straight ATM card.

[55Jay]

CapOne has a checking account/debit card that pays a little over 1% but numerous posts indicate about every 3 or 4 months their debit card stops working when using it overseas and you have to call CapOne and tell them it truly is you using the card and you are just traveling overseas....then you are good for another 3 or 4 months.

Pib, as I know I've indicated before, I've certainly had that experience with Cap One's credit card... I've never had that experience, or made any notifications or had any blocks imposed, on what now is their straight ATM card.

Roger all, thanks. Yeah, I didn't open the disclosure link for the fine print. Knew I should have.

Seems my one person initiative may be having an impact on my CU. After a number of messages to them, last indicating my requests and information had been elevated to senior mgmt. OK... Spoke with the branch manager this afternoon who said she participated in a HQ conf call end of June and one of the primary topics was the 1% and foreign atm charges. She seemed interested enough and took notes as I described the essentials of the 3 main players here, Schwab, Cap1 and SF. We'll see, but will keep truckin' with these concurrent plans. TX again, Jay.

[Pib]

As FYI, this web site gives a summary of ATM/Debit/Credit Card foreign transaction fees charged by various U.S., UK, and Canadian banks.

[55Jay]

Coming to the end of a 3 week trip in Thailand.

ATM Only Card: Confirmed that my US credit union ATM only card, which operates on the PLUS system (it is not an MC/Visa card), DOES in fact get the 1% foreign transaction fee. So the previous response, which I didn't know, that PLUS is a VISA network, seems validated. Did, however, only use AEON atms both in Korat and Pattaya, so avoided the 150 Baht charge.

CC: Exercising the new CAP1 No Hassles Mastercard and have confirmed 1% cashback norm, and 2% when I used it at The Mall Freshmart (supermarket)in Korat, and at Friendship Supermarket in Pattaya - and no 1% foreign transaction fee, as advertised.

Regards,

Jay

<br />

<br />

My CU ATM only card of the PLUS variety, does not get the 1% foreign transaction as its not a Visa/MC product

<br /><br />But it rides Visa's PLUS network, which is where the 1% foreign transaction fee originates. It's up to the issuing financial institution whether or not to "eat" this 1% fee. Odds are your CU doesn't -- but it's not completely unheard of.<br />

<br /><br />Well s****!   Another pearl.  I never knew PLUS was a Visa system until you said that.  Looked it up too....  <br /><br />My CU told me no 1% but that was a very long time ago and while I confidently said "tried and true" earlier, in practice, I haven't tested in for a long time.   Wishful thinking, head in sand, more likely head in dark, moist orifice.  <br /><br />Thanks, I'll follow up on that and if there's been some change, I'll adjust accordingly as to plan.<br /><br /><img src='http://static.thaivisa.com/forum/public/style_emoticons/default/jap.gif' class='bbc_emoticon' alt=':jap:' /> <br /><br />Jay<br />

<br /><br /><br />

[Pib]

Coming to the end of a 3 week trip in Thailand.

ATM Only Card: Confirmed that my US credit union ATM only card, which operates on the PLUS system (it is not an MC/Visa card), DOES in fact get the 1% foreign transaction fee. So the previous response, which I didn't know, that PLUS is a VISA network, seems validated. Did, however, only use AEON atms both in Korat and Pattaya, so avoided the 150 Baht charge.

CC: Exercising the new CAP1 No Hassles Mastercard and have confirmed 1% cashback norm, and 2% when I used it at The Mall Freshmart (supermarket)in Korat, and at Friendship Supermarket in Pattaya - and no 1% foreign transaction fee, as advertised.

Regards,

Jay

You'll also get 2% back at Lotus, Big C, Big C Extra, Foodland, & Tops regardless what you buy....be it food or a hammer or liquor. 2% cash back for fuel buys at gas stations also. 1% on everything else such as restaurants, medical, hardware/HomePro stores, Veterinarian, etc...etc....etc. This is based on me using the card a LOT for my buys here in Bangkok...I use it whenever I can....I got my Cash Back Reward level set-up to provide a credit to my credit card account whenever the Cash Back Reward reaches $25. I've been using the card since late Jan 11....got four $25 awards under my belt already....closing in on the 5th award.

[55Jay]

Yup and thanks again. Just pulled the first $36.00, and the on-line payment linked to my primary CU checking account is painless.

Leaving LOS tomorrow morning, back to the sandbox. Wife's CAP1 card arrived in the mail there since we've been here. Be happy for her to use it there for food shopping on the local economy, but think the gas stations are cash and carry - never looked actually but will now. Avoiding the 1% foreign transaction fee is a really great deal besides 2% back for those venues.

Take care PIB,

Jay

Coming to the end of a 3 week trip in Thailand.

ATM Only Card: Confirmed that my US credit union ATM only card, which operates on the PLUS system (it is not an MC/Visa card), DOES in fact get the 1% foreign transaction fee. So the previous response, which I didn't know, that PLUS is a VISA network, seems validated. Did, however, only use AEON atms both in Korat and Pattaya, so avoided the 150 Baht charge.

CC: Exercising the new CAP1 No Hassles Mastercard and have confirmed 1% cashback norm, and 2% when I used it at The Mall Freshmart (supermarket)in Korat, and at Friendship Supermarket in Pattaya - and no 1% foreign transaction fee, as advertised.

Regards,

Jay

You'll also get 2% back at Lotus, Big C, Big C Extra, Foodland, & Tops regardless what you buy....be it food or a hammer or liquor. 2% cash back for fuel buys at gas stations also. 1% on everything else such as restaurants, medical, hardware/HomePro stores, Veterinarian, etc...etc....etc. This is based on me using the card a LOT for my buys here in Bangkok...I use it whenever I can....I got my Cash Back Reward level set-up to provide a credit to my credit card account whenever the Cash Back Reward reaches $25. I've been using the card since late Jan 11....got four $25 awards under my belt already....closing in on the 5th award.