Schwab Atm Fees In Thailand?

[bikerlou47]

Do they really reimburse?

[MTH]

Not sure what you mean by the fee not being itemized. What Bank did you do your withdrawal at?

If I withdraw from AEON there are no surcharges. However if I use any other banks ATM, there is a 150 Baht fee, and it will be itemized on the ATM receipt.

My Schwab debit card is linked to my brokerage account. If I use an ATM with a surcharge, it will be deducted at the same time as the withdrawal is registered in my account.

It's my understanding that if you don't have a brokerage account, but just are banking with Schwab, then you will get reimbursed at the end of the month, for any ATM fees that you have accrued during that month.

See below for two different recent withdrawals, one using AEON, no ATM fee. And one using Bangkok Bank, 150 baht fee, that was instantly reimbursed.

[bikerlou47]

OK thanks this helps out a lot ATM fee is not itemized on my Bank of America statment, but it seems that Schwab is aware that you paid an ATM fee.

That is what I was looking for...will be in the States in a few months will make sure I get a schwab debit card so I dont have to make trips to the bank to avoid the ATM fee

Thanks so much

Not sure what you mean by the fee not being itemized. What Bank did you do your withdrawal at?

If I withdraw from AEON there are no surcharges. However if I use any other banks ATM, there is a 150 Baht fee, and it will be itemized on the ATM receipt.

My Schwab debit card is linked to my brokerage account. If I use an ATM with a surcharge, it will be deducted at the same time as the withdrawal is registered in my account.

It's my understanding that if you don't have a brokerage account, but just are banking with Schwab, then you will get reimbursed at the end of the month, for any ATM fees that you have accrued during that month.

See below for two different recent withdrawals, one using AEON, no ATM fee. And one using Bangkok Bank, 150 baht fee, that was instantly reimbursed.

[sbk]

move to Banking forum

[smileplur]

Yes, I can confirm that I have always been credited with the fees from my Schwab account relating to the fees charged by banks in Thailand.

[IAMHERE]

Dont't wait till you get to Thailand to try using your Schwab card. I 'registered' my ATM/debit card before leaving the USA but didn't use it till last week Of course the card was declines and the Kasikorn ATM machine 'ate' my Scwab card. fuc_k Me, I can not wait till I get back to the states and close my substantial bank balance, my regular IRA, my Roth IRA, and my brokerage account. Screw Schwab and the horse they rode in on.

[smileplur]

I had a problem with my card once in Thailand. They sent me another one by DHL which arrived in 3 days.

[TallGuyJohninBKK]

Dont't wait till you get to Thailand to try using your Schwab card. I 'registered' my ATM/debit card before leaving the USA but didn't use it till last week Of course the card was declines and the Kasikorn ATM machine 'ate' my Scwab card. fuc_k Me, I can not wait till I get back to the states and close my substantial bank balance, my regular IRA, my Roth IRA, and my brokerage account. Screw Schwab and the horse they rode in on.

Having an ATM eat one's bank card is never a pleasant experience...

But I think you're wrongly blaming Schwab... It equally well could have been a problem with the ATM machine you were using.

There's no reason a normal K Bank ATM machine would decline a Schwab debit card. And even if it was declined for some reason, a normally functioning machine wouldn't then eat the card, it would simply say the requested transaction wasn't available.

I got and used by Schwab card for the first time here... long before ever using it in the U.S., and have never had any problems with ATM machine compatibility here.

And as another poster mentioned, Schwab is usually pretty good about issuing replacement cards.

[Chivas]

Dont't wait till you get to Thailand to try using your Schwab card. I 'registered' my ATM/debit card before leaving the USA but didn't use it till last week Of course the card was declines and the Kasikorn ATM machine 'ate' my Scwab card. fuc_k Me, I can not wait till I get back to the states and close my substantial bank balance, my regular IRA, my Roth IRA, and my brokerage account. Screw Schwab and the horse they rode in on.

Seems a bit excessive......

You can register to your hearts content that your card may be used overseas but like 3 of my 4 British accounts its an automated system, that stops your card being used.

You can talk or write to you're blue in the face in advance- makes no difference.

[TallGuyJohninBKK]

I can't speak to the UK bank practices, since I'm not a Brit...

But as an American, there's no particular difficulty in using Schwab ATM/debit cards in Thailand. They're accepted by Thai ATMs, have no foreign currency fee on ATM or POS transactions, and even refund the Thai banks' 150 baht ATM withdrawal fee if you happen to use one of those banks' ATMs.

Some U.S. banks have automated fraud protection measures that temporarily lock their customer's debit cards if they suddenly start seeing a lot of foreign transactions and the customer hasn't reported their plans to be/travel abroad. But Schwab isn't among the more fussy banks when it comes to that particular practice.

All in all, the Schwab Bank (now unfortunately named) high yield checking account is one of the best regular bank accounts available for any American who spends a lot of time abroad. The accounts offered by the major U.S. banks don't even come close by comparison.

[Chivas]

I can't speak to the UK bank practices, since I'm not a Brit...

But as an American, there's no particular difficulty in using Schwab ATM/debit cards in Thailand. They're accepted by Thai ATMs, have no foreign currency fee on ATM or POS transactions, and even refund the Thai banks' 150 baht ATM withdrawal fee if you happen to use one of those banks' ATMs.

Some U.S. banks have automated fraud protection measures that temporarily lock their customer's debit cards if they suddenly start seeing a lot of foreign transactions and the customer hasn't reported their plans to be/travel abroad. But Schwab isn't among the more fussy banks when it comes to that particular practice.

All in all, the Schwab Bank (now unfortunately named) high yield checking account is one of the best regular bank accounts available for any American who spends a lot of time abroad. The accounts offered by the major U.S. banks don't even come close by comparison.

I'm impressed that they refund the 150 baht fee in the first place. Seeing that you can go inside the bank and avoid the 150 baht.

Edited November 17, 2011 by Chivas

[TallGuyJohninBKK]

Chivas, you're referring to what's called a "counter withdrawal."

Some Thai bank branches will do that, and not charge the 150 baht fee. But others will balk and direct the person outside to use their ATMs, which do charge the fee. Members here have had mixed and inconsistent results with that method.

The other issue about counter withdrawals is that the banks typically require you to present your passport when doing one, which means the person needs to be carrying it with them at the time.

I always carry a color, laminated photocopy of my passport and visa stamp...but never my actual passport for safety/security reasons. I've used my passport copy for some things at Thai banks, and they've always accepted the laminated copy... But I've never tried to use it for a counter withdrawal, so I can't speak to that.

That's the nice thing about AEON ATMs in Thailand vs. the regular Thai bank ATMs: AEON ATMs don't charge the 150 baht fee, they accept most regular VISA or MC logo debit cards, you don't have to worry about them saying yes or no like some branches with counter withdrawals, and they don't require any passport to use them.

[Chivas]

Chivas, you're referring to what's called a "counter withdrawal."

Some Thai bank branches will do that, and not charge the 150 baht fee. But others will balk and direct the person outside to use their ATMs, which do charge the fee. Members here have had mixed and inconsistent results with that method.

The other issue about counter withdrawals is that the banks typically require you to present your passport when doing one, which means the person needs to be carrying it with them at the time.

I always carry a color, laminated photocopy of my passport and visa stamp...but never my actual passport for safety/security reasons. I've used my passport copy for some things at Thai banks, and they've always accepted the laminated copy... But I've never tried to use it for a counter withdrawal, so I can't speak to that.

That's the nice thing about AEON ATMs in Thailand vs. the regular Thai bank ATMs: AEON ATMs don't charge the 150 baht fee, they accept most regular VISA or MC logo debit cards, you don't have to worry about them saying yes or no like some branches with counter withdrawals, and they don't require any passport to use them.

My Apologies-I was assuming everyone knew that you can go inside the bank and normally withdraw.

I did it twice in Buriram at a SCB and BB Branch with no problem. Got the impression that they had become used to farangs asking to do it-whatever no query and no problem. These branches were actually in the centre.

[MTH]

Chivas, you're referring to what's called a "counter withdrawal."

Some Thai bank branches will do that, and not charge the 150 baht fee. But others will balk and direct the person outside to use their ATMs, which do charge the fee. Members here have had mixed and inconsistent results with that method.

The other issue about counter withdrawals is that the banks typically require you to present your passport when doing one, which means the person needs to be carrying it with them at the time.

I always carry a color, laminated photocopy of my passport and visa stamp...but never my actual passport for safety/security reasons. I've used my passport copy for some things at Thai banks, and they've always accepted the laminated copy... But I've never tried to use it for a counter withdrawal, so I can't speak to that.

That's the nice thing about AEON ATMs in Thailand vs. the regular Thai bank ATMs: AEON ATMs don't charge the 150 baht fee, they accept most regular VISA or MC logo debit cards, you don't have to worry about them saying yes or no like some branches with counter withdrawals, and they don't require any passport to use them.

My Apologies-I was assuming everyone knew that you can go inside the bank and normally withdraw.

I did it twice in Buriram at a SCB and BB Branch with no problem. Got the impression that they had become used to farangs asking to do it-whatever no query and no problem. These branches were actually in the centre.

I hope you're aware that you will get a poorer exchange rate by doing an over the counter withdrawal inside a bank, than withdrawing monies from an ATM.

At an over the counter withdrawal you will get the banks own exchange rate.

However at an ATM you will get the daily interbank exchange rate, which is more beneficial to you, than the local banks exchange rate.

[Chivas]

Chivas, you're referring to what's called a "counter withdrawal."

Some Thai bank branches will do that, and not charge the 150 baht fee. But others will balk and direct the person outside to use their ATMs, which do charge the fee. Members here have had mixed and inconsistent results with that method.

The other issue about counter withdrawals is that the banks typically require you to present your passport when doing one, which means the person needs to be carrying it with them at the time.

I always carry a color, laminated photocopy of my passport and visa stamp...but never my actual passport for safety/security reasons. I've used my passport copy for some things at Thai banks, and they've always accepted the laminated copy... But I've never tried to use it for a counter withdrawal, so I can't speak to that.

That's the nice thing about AEON ATMs in Thailand vs. the regular Thai bank ATMs: AEON ATMs don't charge the 150 baht fee, they accept most regular VISA or MC logo debit cards, you don't have to worry about them saying yes or no like some branches with counter withdrawals, and they don't require any passport to use them.

My Apologies-I was assuming everyone knew that you can go inside the bank and normally withdraw.

I did it twice in Buriram at a SCB and BB Branch with no problem. Got the impression that they had become used to farangs asking to do it-whatever no query and no problem. These branches were actually in the centre.

I hope you're aware that you will get a poorer exchange rate by doing an over the counter withdrawal inside a bank, than withdrawing monies from an ATM.

At an over the counter withdrawal you will get the banks own exchange rate.

However at an ATM you will get the daily interbank exchange rate, which is more beneficial to you, than the local banks exchange rate.

You may be correct but is the difference 150 baht, on say a 10,000 withdrawal ??

[MTH]

Chivas, you're referring to what's called a "counter withdrawal."

Some Thai bank branches will do that, and not charge the 150 baht fee. But others will balk and direct the person outside to use their ATMs, which do charge the fee. Members here have had mixed and inconsistent results with that method.

The other issue about counter withdrawals is that the banks typically require you to present your passport when doing one, which means the person needs to be carrying it with them at the time.

I always carry a color, laminated photocopy of my passport and visa stamp...but never my actual passport for safety/security reasons. I've used my passport copy for some things at Thai banks, and they've always accepted the laminated copy... But I've never tried to use it for a counter withdrawal, so I can't speak to that.

That's the nice thing about AEON ATMs in Thailand vs. the regular Thai bank ATMs: AEON ATMs don't charge the 150 baht fee, they accept most regular VISA or MC logo debit cards, you don't have to worry about them saying yes or no like some branches with counter withdrawals, and they don't require any passport to use them.

My Apologies-I was assuming everyone knew that you can go inside the bank and normally withdraw.

I did it twice in Buriram at a SCB and BB Branch with no problem. Got the impression that they had become used to farangs asking to do it-whatever no query and no problem. These branches were actually in the centre.

I hope you're aware that you will get a poorer exchange rate by doing an over the counter withdrawal inside a bank, than withdrawing monies from an ATM.

At an over the counter withdrawal you will get the banks own exchange rate.

However at an ATM you will get the daily interbank exchange rate, which is more beneficial to you, than the local banks exchange rate.

You may be correct but is the difference 150 baht, on say a 10,000 withdrawal ??

No, you've got a point there. If you're paying the 150 Baht ATM surcharge, you would probably have to maximize your withdrawal to cancel it out.

[TallGuyJohninBKK]

Of course, if someone is using an AEON ATM instead of a counter withdrawal, there is no 150 baht withdrawal fee charged in the first place.

And likewise, if someone is using a Schwab debit card at a Thai bank ATM, then Schwab reimburses that 150 baht fee in total.

[JimGant]

Not sure what you mean by the fee not being itemized. What Bank did you do your withdrawal at?

If I withdraw from AEON there are no surcharges. However if I use any other banks ATM, there is a 150 Baht fee, and it will be itemized on the ATM receipt.

My Schwab debit card is linked to my brokerage account. If I use an ATM with a surcharge, it will be deducted at the same time as the withdrawal is registered in my account.

It's my understanding that if you don't have a brokerage account, but just are banking with Schwab, then you will get reimbursed at the end of the month, for any ATM fees that you have accrued during that month.

See below for two different recent withdrawals, one using AEON, no ATM fee. And one using Bangkok Bank, 150 baht fee, that was instantly reimbursed.

My Schwab debit card is linked to my brokerage account. If I use an ATM with a surcharge, it will be deducted at the same time as the withdrawal is registered in my account.

I have the same linkage (i.e., with brokerage), but I receive my ATM reimbursements at the end of the month. No big deal -- but curious.

The ATM entry for 8/16 in the statement is the Aeon at Carrefour (well, it was Big C by this time) so, of course, no ATM fee to rebate. The end-of-month rebate was for the 7/12 Bangkok Bank ATM withdrawal.

MTH, in case you hadn't noticed with your report, the 15,000 (plus 150) baht from Bangkok Bank on Sunday, Sept 18th, and the 15,000 baht from Aeon, on Monday the 19th, both had the same exchange rate of 30.251. And it would have been the same rate had you hit the ATM on Saturday, Sept 17. This is because Visa DOES advertise -- and use -- weekend exchange rates, based on the projection for Monday (MC does not). Check it out at their site, HERE (you have to use the inverse of the number provided).

The MC site is found HERE

Of course, if their projection is off, you may or may not be better off. In this Sept case, the dollar was heading north at a pretty good clip, and Monday's TT rate (30.30) exceeded the Visa rate, which is normally several satang better than the TT rate. MC, which normally has a worse rate than both Visa and TT, was, at 30.21 on Monday, 19 Sept, true to form.

[A check of Visa for last weekend (12-13 Nov)had the rate at 30.741 which, again, was the rate you see for Monday, 14 Nov. The Bangkok Bank TT rate for 14 Nov was 30.65. MC was 30.54 -- a full 20 satang worse than Visa. What's in your wallet? ]

Besides saving on that 150 baht fee, it's nice that Schwab does NOT pass on the Visa foreign transaction fee. So, on my 25,000 baht pulls, I saved 250 baht each over the majority of cards that do pass-on the 1% fee, as well as, in many cases, add additional fees.

Can't beat Schwab. Just hope they don't follow-up on this quote from their monthly statement:

Schwab Bank reserves the right to modify or discontinue the ATM fee rebate at any time

Arghhhh!

[TallGuyJohninBKK]

Good post and info, Jim...

Re the "reserve the right" clause above, as you know, that's a standard contractual type language that gets attached to almost any kind of benefit situation in the banking world. So no one should read anything particular into the presence of that language.

What is important, though, is that for at least the past three years that I've had Schwab accounts and their card (and I know it goes back prior to my involvement), they haven't changed the terms/benefits of their high yield checking account one bit as regards things important to expats. Still no foreign currency fee charged, still absorbing the card networks' 1% fee, and still refunding ATM charges automatically worldwide.

They have, not surprisingly, reduced the interest rate on their "high yield checking account," along with the entire rest of the banking world. But anyone who's keeping any sizeable amount of funds in that checking account just for the interest it paid/pays -- 1% or so before and now down to some fractional amount -- needs some serious financial education.

[aurelius]

I hope you're aware that you will get a poorer exchange rate by doing an over the counter withdrawal inside a bank, than withdrawing monies from an ATM.

At an over the counter withdrawal you will get the banks own exchange rate.

However at an ATM you will get the daily interbank exchange rate, which is more beneficial to you, than the local banks exchange rate.

Not correct - if the transaction is a cash advance off the card, then its a visa or mc transaction and the rate is the visa or mc rate. The bank's exchange rate will apply for currency exchange or travellers checks etc.

[TallGuyJohninBKK]

I think part of this depends on whether the person doing a counter withdrawal is using a credit card vs. a debit card.

I don't believe you can do a "cash advance" with a debit card. You can only withdraw funds out of your account.

You can do a "cash advance" with a credit card. But that transaction will carry a credit card's substantial cash advance fees and high interest rate starting from the day of the advance.

[MTH]

I have the same linkage (i.e., with brokerage), but I receive my ATM reimbursements at the end of the month. No big deal -- but curious.

The ATM entry for 8/16 in the statement is the Aeon at Carrefour (well, it was Big C by this time) so, of course, no ATM fee to rebate. The end-of-month rebate was for the 7/12 Bangkok Bank ATM withdrawal.

MTH, in case you hadn't noticed with your report, the 15,000 (plus 150) baht from Bangkok Bank on Sunday, Sept 18th, and the 15,000 baht from Aeon, on Monday the 19th, both had the same exchange rate of 30.251. And it would have been the same rate had you hit the ATM on Saturday, Sept 17. This is because Visa DOES advertise -- and use -- weekend exchange rates, based on the projection for Monday (MC does not). Check it out at their site, HERE (you have to use the inverse of the number provided).

The MC site is found HERE

Of course, if their projection is off, you may or may not be better off. In this Sept case, the dollar was heading north at a pretty good clip, and Monday's TT rate (30.30) exceeded the Visa rate, which is normally several satang better than the TT rate. MC, which normally has a worse rate than both Visa and TT, was, at 30.21 on Monday, 19 Sept, true to form.

[A check of Visa for last weekend (12-13 Nov)had the rate at 30.741 which, again, was the rate you see for Monday, 14 Nov. The Bangkok Bank TT rate for 14 Nov was 30.65. MC was 30.54 -- a full 20 satang worse than Visa. What's in your wallet? ]

Besides saving on that 150 baht fee, it's nice that Schwab does NOT pass on the Visa foreign transaction fee. So, on my 25,000 baht pulls, I saved 250 baht each over the majority of cards that do pass-on the 1% fee, as well as, in many cases, add additional fees.

Good information Jim,

Someone else banking with Schwab without a brokerage account, told me that they were reimbursed at the end of the month.

So I thought that was the difference. Well I guess there's more to it then.

Yes thanks, I had noticed that my exchange rates were the same. I usually do check my exchange rates and I've been using this site, but the result is the same. Didn't know about the weekend rates though, that can be useful!

Can't beat Schwab. Just hope they don't follow-up on this quote from their monthly statement:

Schwab Bank reserves the right to modify or discontinue the ATM fee rebate at any time

Arghhhh!

This is worrying, and I therefore always try to use AEON if possible, then I don't rack up on ATM surcharge reimburses.

Hopefully as long as this doesn't stick out too much, Schwab will continue doing it.

[MTH]

I hope you're aware that you will get a poorer exchange rate by doing an over the counter withdrawal inside a bank, than withdrawing monies from an ATM.

At an over the counter withdrawal you will get the banks own exchange rate.

However at an ATM you will get the daily interbank exchange rate, which is more beneficial to you, than the local banks exchange rate.

Not correct - if the transaction is a cash advance off the card, then its a visa or mc transaction and the rate is the visa or mc rate. The bank's exchange rate will apply for currency exchange or travellers checks etc.

Not sure what exchange rate you would get on a cash advance, however I don't doubt you're correct. I've only done it once, years ago and just remember it ended up being quite expensive. And as TGJohnBKK says, that will be against a credit card not a debit card with other fees to consider. You will have to start paying interest from day one of your cash advance, additionally you might have to pay a foreign exchange fee and a cash advance fee, depending on the issuing bank.

There are quite a few different exchange rates at the banks here, if you're doing an over the counter withdrawal, with a debit card, you will most likely get the "Sight Bill" rate. Compare that to the Visa exchange rate, and you can easily calculate how much you will lose.

[JimGant]

Not correct - if the transaction is a cash advance off the card, then its a visa or mc transaction and the rate is the visa or mc rate. The bank's exchange rate will apply for currency exchange or travellers checks etc.

Banks can use their own rate for cash advances, where they're considered Dynamic Currency Conversion transactions by Visa and MC. See THIS LINK

Note the bottom of the page, for credit card cash advances. About a 3.5% cost off the TT rate, on top of the cash advance fee and interest charged by your issuing bank. So, stay away from SCB for cash advances.

I've never done a lobby cash advance transaction in Thailand, but if the banks use a swipe and pin machine, like those found in the lobbies of US banks, then these machines certainly could be encoded to reflect an ATM operation using your Debit/ATM card. As such, they would receive the ATM interchange reimbursement established by Visa or MC. To see what this looks like, look at the bottom of THIS LINK (This example is for foreign cards used in the US. But certainly is similar to what goes on when you use your Debit/ATM card in Thailand.)

And, yes, you would get the Visa or MC exchange rate, same as if you used their ATM machine -- plus, of course, all the fees charged by your issuing bank. That the Thai bank allows a lobby transaction, and forgoes the 150 baht fee, says they're losing a bit to ingratiate you with their service. And it also explains why some (many?) Thai banks will use their finger to point to where their ATM machine is.

[TallGuyJohninBKK]

There are several things I know about this...

1. Doing a credit card cash advance in Thailand, or almost anywhere for that matter, is almost always a bad financial deal. The normal practice by card issuers in such cases is to start charging interest from the date of the advance, the transaction usually carries a higher interest rate than normal purchases, and it typically has a 3% or similar cash advance surcharge tacked on by your home bank. And that's before you ever get to the issue of what type of exchange rate the Thai bank will use at the counter.

2. I also haven't done a counter withdrawal in Thailand using either a credit card or a debit card. But when I recall past reports here of people who did counter withdrawals with their foreign debit cards, the experiences were split. Some people reported the bank using the swipe and pin machine at the teller's counter, while others talked about the teller doing a paperwork only transaction. In those cases, I'm not sure which exchange rate method they'd be using.

3. Jim's example, though, of SCB and their bad rates is a good one. Back when the foreign card ATM fees started and people were looking for alternatives to avoid the fee and counter withdrawals surfaced, we all noticed that SCB seemed to have a vastly higher limit on the amount of funds that they'd do in a single counter withdrawal, compared to the other Thai banks. And of course there was a reason for that -- they'd be raking in the dough with their reduced exchange rate for such transactions, and thus were more than happy to oblige the unsuspecting.

4. If we're just talking about debit cards, and that really should be the only card to discuss doing a counter withdrawal with, other than SCB, I'm not sure what exchange rate the other Thai banks would use. For me, the certainty of being able to do a fee-free AEON ATM withdrawal at the best possible exchange rate, or a Schwab card withdrawal at any Thai bank with the same rate and getting the 150 baht fee reimbursed, always won out over the uncertainties and potential pitfalls of counter withdrawals.

[Chivas]

There are several things I know about this...

1. Doing a credit card cash advance in Thailand, or almost anywhere for that matter, is almost always a bad financial deal. The normal practice by card issuers in such cases is to start charging interest from the date of the advance, the transaction usually carries a higher interest rate than normal purchases, and it typically has a 3% or similar cash advance surcharge tacked on by your home bank. And that's before you ever get to the issue of what type of exchange rate the Thai bank will use at the counter.

2. I also haven't done a counter withdrawal in Thailand using either a credit card or a debit card. But when I recall past reports here of people who did counter withdrawals with their foreign debit cards, the experiences were split. Some people reported the bank using the swipe and pin machine at the teller's counter, while others talked about the teller doing a paperwork only transaction. In those cases, I'm not sure which exchange rate method they'd be using.

3. Jim's example, though, of SCB and their bad rates is a good one. Back when the foreign card ATM fees started and people were looking for alternatives to avoid the fee and counter withdrawals surfaced, we all noticed that SCB seemed to have a vastly higher limit on the amount of funds that they'd do in a single counter withdrawal, compared to the other Thai banks. And of course there was a reason for that -- they'd be raking in the dough with their reduced exchange rate for such transactions, and thus were more than happy to oblige the unsuspecting.

4. If we're just talking about debit cards, and that really should be the only card to discuss doing a counter withdrawal with, other than SCB, I'm not sure what exchange rate the other Thai banks would use. For me, the certainty of being able to do a fee-free AEON ATM withdrawal at the best possible exchange rate, or a Schwab card withdrawal at any Thai bank with the same rate and getting the 150 baht fee reimbursed, always won out over the uncertainties and potential pitfalls of counter withdrawals.

According to the Stickman in todays weekly column AEON are charging the 150 baht.....

Now as a long time opponent of AEON and having conclusively proved (to myself) that there was never an advantage in using them, than I'm not surprised.

However I'm not currently in Thailand so cannot confirm ??

[TallGuyJohninBKK]

I used an AEON ATM yesterday in BKK with a Schwab debit card...

No ATM fee.... not then, not ever as yet, notwithstanding what banking expert Stickman thinks... Maybe he ought to stick to the subjects he knows best and avoid banking.

AEON actually was mentioned in a recent Stickman column, dated Oct. 30, 2011, as follows:

The AEON ATMs, that is the ATMs from which you can make fee-free withdrawals from a foreign bank account, which were in Ocean Tower at Asoke, have moved to the new (and more convenient for many) Terminal 21 shopping centre. After entering Terminal 21, go down one level, and they are right there.

http://www.stickmanb...xpat-Quotes.htm

Here's the more recent entry you're referring to, but I believe it's simply false, and probably some kind of issue with his home bank/card, and not AEON:

Fee-free withdrawals from foreign bank accounts at AEON ATM machines in Thailand are a thing of the past. Withdrawals are processed as normal and everything seems just fine and dandy, but check your account back in Farangland and you will see the fee has been deducted from your account in addition to any fee your home bank may have levied. I guess it was too good to last. What this actually means is now you get hit by TWO fees, one from local ATM and one from your home bank - and a single withdrawal can easily cost $US10 or equivalent in fees!

Why do I think his post is simply wrong?

I did my Schwab card ATM withdrawal from AEON yesterday, and it's already posted to my Schwab account.

--No fee on the AEON ATM receipt.

--One debit and no separate fee charged to my Schwab account.

--Exchange rate on my AEON withdrawal of 30.88 baht to the U.S. $, which is a market rate that doesn't reflect any cut or fee being subtracted. XRates.com's rate for Friday at 30.99.

End result; AEON ATMs are not charging the 150 baht withdrawal fee... Period.

Edited November 20, 2011 by TallGuyJohninBKK

[Chivas]

I used an AEON ATM yesterday in BKK with a Schwab debit card...

No ATM fee.... not then, not ever as yet, notwithstanding what banking expert Stickman thinks... Maybe he ought to stick to the subjects he knows best and avoid banking.

AEON actually was mentioned in a recent Stickman column, dated Oct. 30, 2011, as follows:

The AEON ATMs, that is the ATMs from which you can make fee-free withdrawals from a foreign bank account, which were in Ocean Tower at Asoke, have moved to the new (and more convenient for many) Terminal 21 shopping centre. After entering Terminal 21, go down one level, and they are right there.

http://www.stickmanb...xpat-Quotes.htm

Here's the more recent entry you're referring to, but I believe it's simply false, and probably some kind of issue with his home bank/card, and not AEON:

Fee-free withdrawals from foreign bank accounts at AEON ATM machines in Thailand are a thing of the past. Withdrawals are processed as normal and everything seems just fine and dandy, but check your account back in Farangland and you will see the fee has been deducted from your account in addition to any fee your home bank may have levied. I guess it was too good to last. What this actually means is now you get hit by TWO fees, one from local ATM and one from your home bank - and a single withdrawal can easily cost $US10 or equivalent in fees!

Why do I think his post is simply wrong?

I did my Schwab card ATM withdrawal from AEON yesterday, and it's already posted to my Schwab account.

--No fee on the AEON ATM receipt.

--One debit and no separate fee charged to my Schwab account.

--Exchange rate on my AEON withdrawal of 30.88 baht to the U.S. $, which is a market rate that doesn't reflect any cut or fee being subtracted. XRates.com's rate for Friday at 30.99.

End result; AEON ATMs are not charging the 150 baht withdrawal fee... Period.

Well as I said on the other thread lets wait and see as I'm not in Thailand currently.....

Knowing what he produces for content though this wouldn't have come from heresay. As you correctly point out he recently "promoted" AEON on his site. To reverse that so quickly, means hard evidence but let wait and see.

[TallGuyJohninBKK]

Well, I AM in Thailand and used AEON yesterday with absolutely no fee. That's about as conclusive as it gets.

FWIW, Stickman's post didn't specify when he did his transaction or what the supposed fees were that showed up on his account. Nor did he ever mention anything about 150 baht in his post...

[TallGuyJohninBKK]

Knowing what he produces for content though this wouldn't have come from heresay. As you correctly point out he recently "promoted" AEON on his site. To reverse that so quickly, means hard evidence but let wait and see.

Actually, from direct conversation with him, Stickman himself wasn't the ATM user that led to his column report, which he's since modified and scaled back. His original column comments, he told me, were based on emails he received from two other people, one Brit and one Aussie.

I asked him if there was any evidence in the info he received that the fees the two individuals reported being charged came from AEON. Thus far, no answer from him on that question.

Thus far, he's amended his original column post by adding the following:

(Email feedback from readers since publishing this paragraph is totally contradictory and shows that some people are charged and some aren't. I can only presume that perhaps there is some issue with certain banks where some account holders pay and others don't. I just don't know what else would explain it!)

Edited November 20, 2011 by TallGuyJohninBKK