Atm Charges

[Greenwich Boy]

Newbie question

I am withdrawing cash from the ATM's with a UK debit card and am getting charged an additional 150B from the local bank on top of the charges from my home bank.

Does anyone know if all the banks levy this charge?

If they do, no big deal, I will just withdraw my maximum each time

I am aware that I would get a better deal with cash but, unfortunately, cannot do this at the moment

Thanks

[TommoPhysicist]

Don't use the ATM, enter the bank to make the debit at the desk.

[playyer]

Withdraw without a fee at Aeon Atm. There is one at Airport plaza and one at Siam TV 2nd floor.I think the exchange rate is ok too.

[mamborobert]

Depending on where you are living there are a few AEON ATM's about in CM that do not charge the 150baht. They (to me) seemed to be stuck hidden away in a few places. Search the forum you will see if there is a location near you (or check their web site).

AEON do not seem to have a limit on how much you take out (other than what is set by your own bank). I use the one at the old Carrefour on Superhighway.

Other thing is that some banks (here) have a limit on ATM cash outs (apart from whatever your own bank will have as a ceiling). Bangkok Bank for example only dispenses 20 notes (so you pay 150 baht for 20 000 baht at x exchange rate). Always worthwhile checking a Krungsri ATM as they dispense 30 notes (so you pay 150 baht for 30 000 baht at x exchange rate).

For me Krungsri has always been worth it (exchange rate wise) and have ATM's pretty much where I go.

Edited January 7, 2013 by mamborobert

[Semper]

Withdraw without a fee at Aeon Atm. There is one at Airport plaza and one at Siam TV 2nd floor.I think the exchange rate is ok too.

Sorry to be a negative charlie, but I think they'll make up the "free" withdrawals with a better exchange rate (for them). Nothing is for free, when comes to banks.

[scd]

Withdraw without a fee at Aeon Atm. There is one at Airport plaza and one at Siam TV 2nd floor.I think the exchange rate is ok too.

Sorry to be a negative charlie, but I think they'll make up the "free" withdrawals with a better exange rate (for them). Nothing is for free, when comes to banks.

I'd be interested in hearing the definitive, informed answer on this one: Aeon ATM v Thai Bank ATM.

[BookMan]

Withdraw without a fee at Aeon Atm. There is one at Airport plaza and one at Siam TV 2nd floor.I think the exchange rate is ok too.

Sorry to be a negative charlie, but I think they'll make up the "free" withdrawals with a better exange rate (for them). Nothing is for free, when comes to banks.

I'd be interested in hearing the definitive, informed answer on this one: Aeon ATM v Thai Bank ATM.

I think someone worked out the Aeon benefits, or not, on a thread maybe ten months back...it was quite a discussion

[noob7]

Wrong, so wrong, methinks

Edited January 7, 2013 by noob7

[Greenwich Boy]

Withdraw without a fee at Aeon Atm. There is one at Airport plaza and one at Siam TV 2nd floor.I think the exchange rate is ok too.

Sorry to be a negative charlie, but I think they'll make up the "free" withdrawals with a better exange rate (for them). Nothing is for free, when comes to banks.

I'd be interested in hearing the definitive, informed answer on this one: Aeon ATM v Thai Bank ATM.

No problems with finding out. I will know what rate I got today with the 150B charge (not on my statement yet) I have kept a note of what the money market rate was today, will do the same next time with Aeon and report back

[Greenwich Boy]

Don't use the ATM, enter the bank to make the debit at the desk.

Thank you

[noob7]

I'd be interested in hearing the definitive, informed answer on this one: Aeon ATM v Thai Bank ATM.

No problems with finding out. I will know what rate I got today with the 150B charge (not on my statement yet) I have kept a note of what the money market rate was today, will do the same next time with Aeon and report back

Maybe check on this bank rates, not on the cash rates, from the money changer booth.

http://bankexchangerates.daytodaydata.net/default.aspx

Even checking before going to an ATM gives a little extra.

[endure]

Don't use the ATM, enter the bank to make the debit at the desk.

You'll need your passport...

[noob7]

Don't use the ATM, enter the bank to make the debit at the desk.

You'll need your passport...

And time, mostly. Sometimes Banks don't even want that. And not for all Debit cards, this option is given!

[Semper]

Don't use the ATM, enter the bank to make the debit at the desk.

You'll need your passport...

..or DL.

[thaigold]

Simply bring cash with you. The last time my wife and I returned from US territory, we brought $XX,XXX between us. Go to Super Rich and change into baht - easy. No hassles, and money is at the true exchange rate. Google it ... you'll be glad you did.

[hellodolly]

The one unknown variable here is that the rate is constantly changing all day. It would depend on the time of day the Aeon people use.

For example check out two different web pages for rates you will notice they never match.

The only sure thing is Aeon is going to make money off of you.

Get three people to with draw the same amount of money at the same time from 3 different banks and see how close the over all cost is for each of them.

[hellodolly]

Don't use the ATM, enter the bank to make the debit at the desk.

You'll need your passport...

And time, mostly. Sometimes Banks don't even want that. And not for all Debit cards, this option is given!

The bank of Siam won't take my debit card I must use my credit card.

That is of course inside the machine has no problem.

[Greenwich Boy]

Simply bring cash with you. The last time my wife and I returned from US territory, we brought $XX,XXX between us. Go to Super Rich and change into baht - easy. No hassles, and money is at the true exchange rate. Google it ... you'll be glad you did.

thanks for the advice, but as per my OP, this is not an option open to me at the moment

[noob7]

Simply bring cash with you. The last time my wife and I returned from US territory, we brought $XX,XXX between us. Go to Super Rich and change into baht - easy. No hassles, and money is at the true exchange rate. Google it ... you'll be glad you did.

thanks for the advice, but as per my OP, this is not an option open to me at the moment

Also only Super Rich is having cash rates, above the 'digital' money rates of ATM-cash Only the bank fees at home, converting back and forth, are wasting that..

Get yourself a card with no charges of the bank, which is issuing the card.

In that case, you get the best rate at Atm's and you are paying only the 150 Baht.

[Joop50]

I checked a couple of times with guests who came over, the rates from Aeon are not higher than from the banks.

Edited January 7, 2013 by Joop50

[rene123]

I know it is a bit of a "sting", but if you take out the maximum of about 30.000 baht, then the 150 baht charge isn't too bad. Unfortunately, not every bank has that high a limit. I know the Siam Commercial bank I deal at has only a 10,000 baht limit in their ATM, even though they might show 20,000 as one of the choices. But, the CIMB bank on Chiang Klan road has both a 20,000 and 30,000 limit and it's simple to operate. If I use my Canadian bank card I go to the CIMB bank. But, you MUST raise your limit at home BEFORE you travel. No sense trying to get 20,000 baht when you only have a $500 limit at your own bank.

[Greenwich Boy]

I know it is a bit of a "sting", but if you take out the maximum of about 30.000 baht, then the 150 baht charge isn't too bad. Unfortunately, not every bank has that high a limit. I know the Siam Commercial bank I deal at has only a 10,000 baht limit in their ATM, even though they might show 20,000 as one of the choices. But, the CIMB bank on Chiang Klan road has both a 20,000 and 30,000 limit and it's simple to operate. If I use my Canadian bank card I go to the CIMB bank. But, you MUST raise your limit at home BEFORE you travel. No sense trying to get 20,000 baht when you only have a $500 limit at your own bank.

completely agree, but will check and compare the Aeon rate just to help a talking point, besides the walk to Siam TV will help with the diet

[SurfRider]

.

"they'll make up the "free" withdrawals with a better exchange rate (for them)"

"The only sure thing is Aeon is going to make money off of you."

Not true! There was an extensive thread on this subject that ran for over a year when the Thai Bankers Assn. first levied the 150 Baht usury fee. All ATMs were tested over a period of time. AEON consistently had better or equal exchange rates compared to all the others.

AEON is not a Thai bank, but a Japanese credit company and not subject to marching orders from the Thai Bankers Assn.

.

[vagabond48]

.

"they'll make up the "free" withdrawals with a better exchange rate (for them)"

"The only sure thing is Aeon is going to make money off of you."

Not true! There was an extensive thread on this subject that ran for over a year when the Thai Bankers Assn. first levied the 150 Baht usury fee. All ATMs were tested over a period of time. AEON consistently had better or equal exchange rates compared to all the others.

+1

[mgbcnx]

The other thing you can do (if you are American) is look for plastic that refunds all ATM fees and charges no foreign transaction fees. You can Google that list, and you will find there are very few such institutions. However, I have two such cards: one from Schwab Bank and the other from Stanford Federal Credit Union. You are eligible to join SFCU by making a five dollar donation to the Friends of Palo Alto Library.

At one point, I had only one of these cards. When an ATM ate it, I was obliged to use a card from another bank that did not refund ATM fees and charged a 1% foreign transaction fee. (Many U.S. banks charge 3%!) During the following month those two charges amounted to more than $40...

Edited January 8, 2013 by mgbcnx

[Ambrosia]

The other thing you can do (if you are American) is look for plastic that refunds all ATM fees and charges no foreign transaction fees. You can Google that list, and you will find there are very few such institutions. However, I have two such cards: one from Schwab Bank and the other from Stanford Federal Credit Union. You are eligible to join SFCU by making a five dollar donation to the Friends of Palo Alto Library.

At one point, I had only one of these cards. When an ATM ate it, I was obliged to use a card from another bank that did not refund ATM fees and charged a 1% foreign transaction fee. (Many U.S. banks charge 3%!) During the following month those two charges amounted to more than $40...

This is what we did when visiting Thailand last year. Started Schwab checking accounts. They don't charge for currency change and refund ATM fees monthly. Hassle to use the account in the states but it saved us at least a couple hundred dollars over 6 weeks in Thailand. If you can find a bank with these perks it is certainly worth it.

[circusman]

What about doing a wire transfer? Costs me $50 dollars but there is no limit I can transfer from usa bank to thai bank account.

[tfc]

The other thing you can do (if you are American) is look for plastic that refunds all ATM fees and charges no foreign transaction fees. You can Google that list, and you will find there are very few such institutions. However, I have two such cards: one from Schwab Bank and the other from Stanford Federal Credit Union. You are eligible to join SFCU by making a five dollar donation to the Friends of Palo Alto Library.

At one point, I had only one of these cards. When an ATM ate it, I was obliged to use a card from another bank that did not refund ATM fees and charged a 1% foreign transaction fee. (Many U.S. banks charge 3%!) During the following month those two charges amounted to more than $40...

For the record Australia's equivalent is the NAB Gold Debit Card and the 28 Degrees MasterCard (formerly Wizard Card). No foreign conversion fees on either or ATM fees when used out of Australia. From what I gather though the 28 Degrees MasterCard is still free though the NAB card costs a monthly fee.

[Genericnic]

The other thing you can do (if you are American) is look for plastic that refunds all ATM fees and charges no foreign transaction fees. You can Google that list, and you will find there are very few such institutions. However, I have two such cards: one from Schwab Bank and the other from Stanford Federal Credit Union. You are eligible to join SFCU by making a five dollar donation to the Friends of Palo Alto Library.

At one point, I had only one of these cards. When an ATM ate it, I was obliged to use a card from another bank that did not refund ATM fees and charged a 1% foreign transaction fee. (Many U.S. banks charge 3%!) During the following month those two charges amounted to more than $40...

This is what we did when visiting Thailand last year. Started Schwab checking accounts. They don't charge for currency change and refund ATM fees monthly. Hassle to use the account in the states but it saved us at least a couple hundred dollars over 6 weeks in Thailand. If you can find a bank with these perks it is certainly worth it.

@Ambrosia, interesting comment. I had my Schwab account in the states before I moved to Thailand and I never had any problem using the ATM card there.

David

[vagabond48]

This is what we did when visiting Thailand last year. Started Schwab checking accounts. They don't charge for currency change and refund ATM fees monthly. Hassle to use the account in the states but it saved us at least a couple hundred dollars over 6 weeks in Thailand. If you can find a bank with these perks it is certainly worth it.

May I suggest and as well as encourage you, if you frequent airport plaza and a number of other locations in CM that you use Aeon ATM which does not charge any fees and give the same rates as Thai banks. Even though I too have the Schwab and Fidelity fee free DCs, I have never needed to take advantage of the option in Thailand. Given today's poor economic times, I don't want to unnecessarily take advantage of Schwab when I can get ATM money without a fee at Aeon. Just for the record, regarding the foreign exchange rate, it is the Visa and MC that determine the rate not the the ATM owner. Out of curiosity, how would you have incurred a couple hundred dollars if you didn't have a fee free DC? That would be 40 ATM withdrawals in 6 weeks or nearly 1 a day. Edited January 9, 2013 by vagabond48