Atm Machines, Avoiding The 150Baht Charge?

[endure]

There's no getting away from this charge really, best thing in my opinion is to withdraw the max and pay the 150 baht charge..

Yes there is. Just read post #8

You can avoid ATM fee but not foreign transaction fee levied by your Non Thai bank , All Uk banks have a % fee on all tranactions ATM or over the counter.

No they don't. I have a Halifax Credit Card which charges NO foreign transaction fees at all. If I pay into the CC account the day after I draw the money I pay pennies in interest. Drawing a total of 100,000BT cost me £1.22 in interest. The card also gives interbank exchange rates.

[Stjohnm]

If you travel here frequently then open a bank account ATMs are like cellphones, cheap domestically but hideously expensive when you travel abroad. If you have a Foreign issues Credit/Debit card not only do you get hit with a ฿150 fee but it will be converted at an expensive exchange rate.

If you just visit now and again consider travellers cheques as they're safer than cash and you'll get a better deal at the exchange booths, AMEX are Normally the best.

[transam]

Aeon ATM, no charge. Machines are scarce but Tesco or BigC usually has one. Atm machines are listed on their Web site.

[Pib]

There's no getting away from this charge really, best thing in my opinion is to withdraw the max and pay the 150 baht charge..

Yes there is. Just read post #8

You can avoid ATM fee but not foreign transaction fee levied by your Non Thai bank , All Uk banks have a % fee on all tranactions ATM or over the counter.

No they don't. I have a Halifax Credit Card which charges NO foreign transaction fees at all. If I pay into the CC account the day after I draw the money I pay pennies in interest. Drawing a total of 100,000BT cost me £1.22 in interest. The card also gives interbank exchange rates.

A cut and paste from the Halifax web site regarding cash advances, foreign transaction fees, etc. Link

"Most of our products also have fees on balance transfers, cash advances and cheques and any transactions you make overseas could also incur a foreign currency exchange fee of 2.95%. Please see your Credit Card Conditions or monthly statements for more details."

[TallGuyJohninBKK]

You can avoid ATM fee but not foreign transaction fee levied by your Non Thai bank , All Uk banks have a % fee on all tranactions ATM or over the counter.

I don't believe that's correct. There's at least one UK bank and several building societies there that have no foreign currency fees when their debit cards are used to make ATM withdrawals in foreign countries. Although yes, most of the UK banks do charge foreign currency fees.

The exceptions are listed in various threads in the banking section here. But the London bank that's most notable for this is Metro Bank, and then there's also the Norwich and Peterbourgh Building Society, among a few others.

Here's a recent article that lists and compares both the ATM and POS foreign use fees of some of the majors

http://citywire.co.u...cy-fees/a567701

Name the UK banks or Building societies that have an international debit card and dont charge for using it overseas at an ATM or to withdraw over the counter in a Thai bank? Nationwide never used levy a charge but that stopped about a year ago.

I think I did in the post above... Maybe you weren't reading too closely. The weblink I included under the Metro Bank name above points to their current accounts page with info re their no fee debit card for foreign use.

Edited April 3, 2012 by TallGuyJohninBKK

[TallGuyJohninBKK]

If you travel here frequently then open a bank account ATMs are like cellphones, cheap domestically but hideously expensive when you travel abroad. If you have a Foreign issues Credit/Debit card not only do you get hit with a ฿150 fee but it will be converted at an expensive exchange rate.

If you just visit now and again consider travellers cheques as they're safer than cash and you'll get a better deal at the exchange booths, AMEX are Normally the best.

Traveler's cheques for most people aren't an especially good value for handling money here...

Depending on where you buy them, there may be a selling commission charge... And there always is a per cheque fee for cashing them here in Thailand. And the exchange rate on those transactions is not going to be as good as a no-fee ATM transaction.

The most economical route is to use a no-fee AEON ATM if one's available where you're staying/traveling and use a home country bank card that charges no foreign currency fee. And if AEON ATMs aren't available in your locale, at least use a home country bank card that reimburses you for other banks' ATM fees.

[TallGuyJohninBKK]

But it doesn't change the actual exchange rate. Nor does it get the home country bank involved in setting the exchange rate.

Again, not completely true:

The exchange rate used by VISA and MC (or any other brand) is used for the settlement of funds between the Acquiring Bank (providing the ATM) and the Issuer Bank (providing the card). Actually their are different exchange rates used, as VISA and MC do only settle in certain currencies (i.e. in US$, EUR, but not in Thai Baht as one example).

The Issuer Bank has the right to set their own exchange rates for the conversion to their customer accounts. I could name one Swiss Bank who sets their own exchange rates (and those have nothing to do with FEE) for Euro (giving their customers better rates than VISA / MC), have worse exchange rates for GBP and US$) and using the standard VISA / MC exchange rates for the rest of the currencies.

As long as they publish them on their websites, that is completely legal.

That may be the way it works for some Swiss banks... But it's not the way it works for U.S. banks in their handling of U.S. $-Thai baht exchanges via ATM transactions.

Presumably we're talking here about ATM transaction currency exchanges between a home country currency and the Thai baht...not inter-European exchanges.

Edited April 3, 2012 by TallGuyJohninBKK

[TallGuyJohninBKK]

I don't know how the European credit cards work... But on a recent trip to Cambodia.... I had problems with my regular U.S. debit cards for some unknown reason, so I ended up having to pull ATM cash using one of my U.S. VISA credit cards...one that doesn't charge any foreign currency fee. That's the good news.

The bad news was... the Cambodian ATM charged me a $5 U.S. fee because I was using a different bank's card... my own credit card bank charged me a flat $10 fee for making a cash advance against my card, and then interest started accruing from the date of the withdrawal with no interest-free grace period, unlike normal credit card purchases.

I'm glad I was able to access funds in a pinch. But that's hardly a path I'd want to be repeating too often.

Edited April 3, 2012 by TallGuyJohninBKK

[endure]

A cut and paste from the Halifax web site regarding cash advances, foreign transaction fees, etc. Link

"Most of our products also have fees on balance transfers, cash advances and cheques and any transactions you make overseas could also incur a foreign currency exchange fee of 2.95%. Please see your Credit Card Conditions or monthly statements for more details."

http://www.halifax.co.uk/creditcards/low-rate-no-fee/clarity-card/

[bendix]

Aeon ATM, no charge. Machines are scarce but Tesco or BigC usually has one. Atm machines are listed on their Web site.

All of you praising AEONS ATMs might want to google the subject. There are plenty of examples of money not being dispensed but being deducted from accounts including threads on the subject on this very forum.

[TallGuyJohninBKK]

Yes...there have been some reports of that with AEON ATMs...as well as with other Thai bank ATMs likewise.... All the AEON ATMs I've seen also have a Thai telephone call center number on them, including an English speaking desk, in case of problems.

I've been using AEON ATMs pretty much exclusively in BKK for the past couple of years....and never had any big problems...other than them sometimes being out of service. So far so good.

[TallGuyJohninBKK]

A cut and paste from the Halifax web site regarding cash advances, foreign transaction fees, etc. Link

"Most of our products also have fees on balance transfers, cash advances and cheques and any transactions you make overseas could also incur a foreign currency exchange fee of 2.95%. Please see your Credit Card Conditions or monthly statements for more details."

http://www.halifax.c...e/clarity-card/

From the FAQs page re the Halifax Clarity credit card:

What does 'foreign exchange fee' mean?

A foreign exchange fee or commission charge is applied by many credit cards to any transactions you make abroad with your card. Typically this fee is around 3%, but with your Halifax Clarity Credit Card or Halifax Rewards Clarity Credit Card, there is no foreign exchange fee.

Top

How much will I be charged for withdrawing cash abroad?

You will not be charged a fee by us for withdrawing cash from an ATM (cashpoint) anywhere in the world. Some ATM providers charge a fee, but this should be made clear to you at the time of withdrawal and is unfortunately outside of our control. You will still be charged interest from the date that the withdrawal is made, but unlike some credit cards which charge a higher rate of cash, you will be charged the same competitive rate as if you had made a purchase.

What exchange rate will I be charged on transactions made abroad using the Clarity Credit Card?

The exchange rate is set by Mastercard at the time that you make the transaction. Halifax do not apply any loading, fees or charges to this rate.

Top

Can I put money on my card to increase my available credit whilst on holiday?

Credit cards are not designed to be used this way. Using the card in this way breaches the product's Terms & Conditions...

http://www.halifax.c...pagetabs=4#mean

Edited April 4, 2012 by TallGuyJohninBKK

[transam]

Yes...there have been some reports of that with AEON ATMs...as well as with other Thai bank ATMs likewise.... All the AEON ATMs I've seen also have a Thai telephone call center number on them, including an English speaking desk, in case of problems.

I've been using AEON ATMs pretty much exclusively in BKK for the past couple of years....and never had any big problems...other than them sometimes being out of service. So far so good.

Me too,

[ObsessiveAddict]

Endure has it spot on in post 8, go inside and no fee's. just draw larger amounts and less frequently, if they ask you to use the machine outside tell them you forgot your number, Take your passport with you and your sorted.

If you are here for a longer period open a local account.

So even if I am not with that bank, ( my bank is in canada ) they will withdrawl money for me with my card for free?

[transam]

Endure has it spot on in post 8, go inside and no fee's. just draw larger amounts and less frequently, if they ask you to use the machine outside tell them you forgot your number, Take your passport with you and your sorted.

If you are here for a longer period open a local account.

So even if I am not with that bank, ( my bank is in canada ) they will withdrawl money for me with my card for free?

Yes, if Visa & MC and a few others.

[endure]

Endure has it spot on in post 8, go inside and no fee's. just draw larger amounts and less frequently, if they ask you to use the machine outside tell them you forgot your number, Take your passport with you and your sorted.

If you are here for a longer period open a local account.

So even if I am not with that bank, ( my bank is in canada ) they will withdrawl money for me with my card for free?

If you withdraw money inside the bank you won't get charged the 150bt ATM fee. If your Canadian bank charges for foreign currency transactions you'll still have to pay them.

[meand]

I have yet to pay a dime withdrawing money here. I have a US based C. Schwab card which works very well, and I use that in conjuction with the mentioned Aeon ATM's. Schwab reimberses my atm fees, but I try to use Aeon whenever possible.

One trick (that doesn't always work), I have a little garmin gps. I can punch in find "aeon" and a list will come up wherever I happen to be. There is usually one within a kilometer. The little gps can pay for itself quite rapidly, no? The best is to have a go to aeon on your way to the bts or something though, that works out great. Aeons can be hard to find and spot.

The other fee free solution is using capitol one credit cards. Just dont use them when the merchants charge you points and you are golden. That above info costs me a week or two of research before moving here, so enjoy

Edited April 6, 2012 by meand

[TallGuyJohninBKK]

Indeed, Schwab debit cards and Cap One credit cards are among the best bank cards for those living abroad or frequently traveling abroad, due to no foreign currency fees and Schwab entirely reimbursing other bank's ATM charges.

[Pib]

The other fee free solution is using capitol one credit cards. Just dont use them when the merchants charge you points and you are golden. That above info costs me a week or two of research before moving here, so enjoy

I assume where you say "....when the merchants charge you points...." you mean they attempt to use the Dynamic Currency Conversion (DCC) to process the transaction...and usually they give you a 3 to 4% (points) lower exchange rate. Yeap, that's definitely a rip-off to the card holder but it sure makes the merchant happier as he gets to pocket 3 to 4% more. I too have a Cap One credit card which charges no foriegn transaction fee and even gives me cash back of 2% or 1%....I get 2% on buys at Lotus, Big C, fuel buys, etc; 1% on everything else. I use the card for the great majority of my buys where ever credit cards are accepted which is most everywhere except in mom & pop stores and noodle carts. When ever I'm unsure if a merchant automatically attempts a DCC, I tell them as I'm handing them my card to "charge Thai baht, not US Dollars." As of now and based on my buying patterns, Sizzler, Pizza Company, and the HomePro I always use attempt the DCC unless you tell them up front. But it seems every 6 months or so usually when dealing with a new checkout clerk and even telling them to charge baht and not USD they still process in USD (or Euro or Pounds or Yen if it's a card from those currency countries)...do the DCC thing and out prints that receipt for signature with the baht "and" USD dollar amounts which means it has been processed as a DCC transaction (this DCC had a 3.75% lower exchange rate/points). I have them cancel the transaction and rerun the charge in baht...happenned just last week in HomePro with a new clerk...then her trainer came running over and showed her how ro cancel and rerun the change...only took about 2 minutes to cancel and redo the transaction. Yeap, DCC is bad, very bad....just say no to DCC unless you just like paying around 3-4% more for everything...preaching to the choir I know. Cheers.

[meand]

The other fee free solution is using capitol one credit cards. Just dont use them when the merchants charge you points and you are golden. That above info costs me a week or two of research before moving here, so enjoy

I assume where you say "....when the merchants charge you points...." you mean they attempt to use the Dynamic Currency Conversion (DCC) to process the transaction...and usually they give you a 3 to 4% (points) lower exchange rate. Yeap, that's definitely a rip-off to the card holder but it sure makes the merchant happier as he gets to pocket 3 to 4% more. I too have a Cap One credit card which charges no foriegn transaction fee and even gives me cash back of 2% or 1%....I get 2% on buys at Lotus, Big C, fuel buys, etc; 1% on everything else. I use the card for the great majority of my buys where ever credit cards are accepted which is most everywhere except in mom & pop stores and noodle carts. When ever I'm unsure if a merchant automatically attempts a DCC, I tell them as I'm handing them my card to "charge Thai baht, not US Dollars." As of now and based on my buying patterns, Sizzler, Pizza Company, and the HomePro I always use attempt the DCC unless you tell them up front. But it seems every 6 months or so usually when dealing with a new checkout clerk and even telling them to charge baht and not USD they still process in USD (or Euro or Pounds or Yen if it's a card from those currency countries)...do the DCC thing and out prints that receipt for signature with the baht "and" USD dollar amounts which means it has been processed as a DCC transaction (this DCC had a 3.75% lower exchange rate/points). I have them cancel the transaction and rerun the charge in baht...happenned just last week in HomePro with a new clerk...then her trainer came running over and showed her how ro cancel and rerun the change...only took about 2 minutes to cancel and redo the transaction. Yeap, DCC is bad, very bad....just say no to DCC unless you just like paying around 3-4% more for everything...preaching to the choir I know. Cheers.

Yes, that is a total ripoff too. I was actually referring to the shops, in mbk for example, that just tack on 3% for you to be able to use any credit card. I think what you are talking about is different. I have had hotels and others try that one before too, and I just switch to cash.... they want charge you in dollars and you pay their decided upon exchange rate, ha. But yes, other than those 2 exceptions, capitol one rocks.... i love it.

Edited April 7, 2012 by meand

[Pib]

Yea, OK, I had a few places who wanted to add 2% to the price if using a credit card; I just paid in cash then. Fortunately I can only remember that happening two times so far....once at a shop were I was buying something for my Fortuner in Nakhon Pathom and I think the other place was some shoe store in a mall in central Bangkok.