Atm Charges

[Ambrosia]

I never have issues with the card, but the way branches function and making deposits are'nt convenient. And we did take out money frequently so as not to carry large sums on hand, thus the many fees. We are moving to CM soon so we will do things differently, but it worked well for travel.

[Greenwich Boy]

For what it is worth I have done a little bit of research - I am aware that you can interpret statistics as many ways as you like so I will avoid making any conclusions.

I was told before I left the UK that I would receive the money market rate set by my bank not the ATM less a discount of approx 3% - not certain I would trust the lovely Svetlana to know which side of the river Greenwich is but that is another matter

on 7th Jan I withdrew money from an ATM and was charged the additional 150B

The money market rate that day fluctuated from 48.80 to 48.90B to the Pound so say 48.85

I received a rate of 47.21 a discount of 3.6% from 48.85

on 25th Jan I withdrew the same amount from Aeon at Siam TV

the market rate fluctuated from 47.0 to 47.30 so a mid range value of 47.15

I received a rate of 45.64 a discount of 3.2% from 47.15 and no additional charge

Admittedly a sample size of one is not the best and using the mid range is a bit 'broad brush' but I hope it is of use

[hellodolly]

For what it is worth I have done a little bit of research - I am aware that you can interpret statistics as many ways as you like so I will avoid making any conclusions.

I was told before I left the UK that I would receive the money market rate set by my bank not the ATM less a discount of approx 3% - not certain I would trust the lovely Svetlana to know which side of the river Greenwich is but that is another matter

on 7th Jan I withdrew money from an ATM and was charged the additional 150B

The money market rate that day fluctuated from 48.80 to 48.90B to the Pound so say 48.85

I received a rate of 47.21 a discount of 3.6% from 48.85

on 25th Jan I withdrew the same amount from Aeon at Siam TV

the market rate fluctuated from 47.0 to 47.30 so a mid range value of 47.15

I received a rate of 45.64 a discount of 3.2% from 47.15 and no additional charge

Admittedly a sample size of one is not the best and using the mid range is a bit 'broad brush' but I hope it is of use

As you say srtatistics can be interperted differently.

The money you with draw makes a big difference in the total overall percent.

For instance if you with draw 150 baht and have to pay an additional 150 baht for the transaction you are all ready paying 100%. That is before they add in the exchange rate. Where as if you withdraw 10,000 you are only paying .015 % before they add the exchange rate.

One other thing to take into consideration in all matters of comparison all withdrawals should be from the same bank.

[Greenside]

If you are from the UK and don't have a Halifax bank account, you can start one and apply for a Clarity debit card which carries no fee for overseas use and gives decent rates. More details on their website.

[heybruce]

.

"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.

.

This agrees with my own experience in the matter. A little over a year ago I withdrew 15000 baht from a Siam Commercial ATM and the next day 15000 from an Aeon ATM. The Siam Commercial withdrawal resulted in about $13, the equivalent of 400 baht, more being charged to my US bank account. This was over a short period of time when the international exchange rates only varied by one or two tenths of a percent, not nearly enough to explain the difference.

I'm sure Aeon is making money, but they seem to be doing it by way of the greater volume that comes by offering customers a better deal. Avoid Thai banks if you can.