Cash withdrawals

[mizztraveller]

I know that all ATMs, with the exception of Aeon Bank, charge 150 baht per withdrawal BUT ... if I went into the bank with my passport and made a withdrawal via cashier, is there a charge for this? It'll be a credit card withdrawal.

[CMSteve]

Depends on your home bank. The Thai bank does not charge.

for example, I've taken 40,000 from two different accounts from the US. One was free, the other(Wells Fargo) charged me about $40.

check with your bank first

[Theo007]

Most banks here do not charge a fee for withdrawals made inside the bank using a credit card. One still pays the overseas bank fees. In order to avoid paying interest I transfer the money from my savings account to the credit card account prior to making the withdrawal.

[jethro69]

If it happens that you're located in Bangkok, HSBC and Citi don't charge as well.

HSBC branches are near Lumpini, and Suk Soi55.

Citi, next to Patpong, and Soi Cowboy, just wondering what clientel Citi is looking for

[cabanlit]

Don't be surprised if you get told, "Cannot", and pointed to the ATM.

[cup-O-coffee]

Have you considered going into the bank with your passport and asking them? What do we know?

[crazydrummerpauly]

In case it helps some people - i've been going into Kasikorn inside a shopping mall, and only showing my Thai driving-licence as ID - no problem getting 20,000 bt cash with the licence, no passport. And in 4 years i have never been told 'no way' and pointed to an ATM. (If it makes any difference, this is using a Debit, not a Credit card.)

Edited October 1, 2013 by crazydrummerpauly

[nbg]

If it happens that you're located in Bangkok, HSBC and Citi don't charge as well.

HSBC branches are near Lumpini, and Suk Soi55.

Citi, next to Patpong, and Soi Cowboy, just wondering what clientel Citi is looking for

HSBC no longer has a premier office at Thonglor or in Thailand actually

[hellstens]

If you go in to the bank you us TT as Exchange (TelexTrasfer) that give you much better exchange than ATM for example Bank of Ayudhya ATM- 30.02000 +150thb and your home bank. TT-30.97000 + home bank

Big different in one year.

[hellodolly]

It depends on the bank. I use the Siam Commercial bank. They will not take my ATM card inside the bank I have to go outside to use the machine. Cost of 150 baht. Not really a big deal when you are taking out 20,000 baht.

I try to get enough at the end of the month for next month plus a little extra for a nest egg. If I am near an AEON machine I will use it as it allows no charges. Between my ATM card and my Visa card I can get enough for the month.

Now just to be on the same page. I am drawing on a Canadian bank when I use my ATM card if there is no money in the account I can not get any out unless I have an overdraft limit which I do but it makes Visa look cheap so I vary seldom get into it.

The Visa card on the other hand needs no money in the bank.

Not sure but I think the states have a little bit different set up with there ATM cards. Don't know and not particularly interested I use my wells Fargo Visa then get on the computer and transfer it out of my savings same day.

[Sparkles]

Don't be surprised if you get told, "Cannot", and pointed to the ATM.

Been going to the Bangkok Bank and doing a cash withdrawal with my Oz Credit Union debit card,every month, for 5 years.

I just take my passport and sign the photo copy they provide.

I get an excellent conversion rate and never a single problem and avoid the 150 baht ATM charge, so 9,000 baht saved over 5 years.

Go to a major branch,see the foreign currency manager and make yourself known, not the "shopping centre" branch variety.

[scottishjohn]

For BRITS reading this please be aware that the OP is talking about CREDIT card CASH withdrawals which is NOT advisable on most UK credit cards. Most UK Credit Cards will incur a cash withdrawal fee (2.99%) and involve a substantial compound interest rate (20% plus) . Brits should use their debit card unless they have a Halifax Clarity Credit card (and even then be careful) or similar.

[jethro69]

If it happens that you're located in Bangkok, HSBC and Citi don't charge as well.

HSBC branches are near Lumpini, and Suk Soi55.

Citi, next to Patpong, and Soi Cowboy, just wondering what clientel Citi is looking for

HSBC no longer has a premier office at Thonglor or in Thailand actually

According their website, they're still at Silom. I picked there last back in June.

http://www.hsbc.co.th/1/PA_ES_Content_Mgmt/content/BKH2/en/contact-us/images/map_hsbc.gif

Edited October 1, 2013 by jethro69

[vagabond48]

Most banks here do not charge a fee for withdrawals made inside the bank using a credit card. One still pays the overseas bank fees. In order to avoid paying interest I transfer the money from my savings account to the credit card account prior to making the withdrawal.

I can't speak for your CC but the US CC's I have will consider any cash withdrawal as a cash advance and will charge interest even if you have a credit amount on your credit card that would cover your withdrawal amount. I have inquired my CC banks about this asked already.

Edited October 1, 2013 by vagabond48

[scottishjohn]

Most banks here do not charge a fee for withdrawals made inside the bank using a credit card. One still pays the overseas bank fees. In order to avoid paying interest I transfer the money from my savings account to the credit card account prior to making the withdrawal.

I can't speak for your CC but the US CC's I have will consider any cash withdrawal as a cash advance and will charge interest even if you have a credit amount on your credit card that would cover your withdrawal amount. I have inquired my CC banks about this asked already.

I Agree. Please see my comment above. Some Credit Card Cash transactions can be very onerous unless you are extra careful. Check your T&C's.

[finoluvios]

The Halifax credit card doesn't charge a cash withdrawal fee, and nor do they charge a foreign exchange fee either so you get the best rate possible! Just load it with cash to avoid the interest charges.

[kcore]

I tossed my credit cards years ago. Viper loan sharks to say the least.

[nbg]

If it happens that you're located in Bangkok, HSBC and Citi don't charge as well.

HSBC branches are near Lumpini, and Suk Soi55.

Citi, next to Patpong, and Soi Cowboy, just wondering what clientel Citi is looking for

HSBC no longer has a premier office at Thonglor or in Thailand actually

According their website, they're still at Silom. I picked there last back in June.

http://www.hsbc.co.th/1/PA_ES_Content_Mgmt/content/BKH2/en/contact-us/images/map_hsbc.gif

http://www.hsbc.co.th/1/2/bkh2/personal/announcement

[ableguy]

if you belong to bangkok bank and joined say in Bangkok, any other branch will charge you commission not only for withdrawels but also for deposits at the counter, same goes for kasikorn. I joined both in BKK now live in Hua Hin and the local branch will not let me change my branch to here hell there making money,

[mesquite]

if you belong to bangkok bank and joined say in Bangkok, any other branch will charge you commission not only for withdrawels but also for deposits at the counter, same goes for kasikorn. I joined both in BKK now live in Hua Hin and the local branch will not let me change my branch to here hell there making money,

Can't you just close your BKK accounts and open new ones in Hua Hin?

[beau thai]

The Halifax credit card doesn't charge a cash withdrawal fee, and nor do they charge a foreign exchange fee either so you get the best rate possible! Just load it with cash to avoid the interest charges.

Only the Halifax Clarity card -which is brilliant. All other Halifax cards make the usual charges.

With Clarity, you are given wholesale exchange rates which are very favourable. I only use it for payments (not cash) and they claim their bill from my bank account by direct debit later, so no interest either.

[finoluvios]

The Halifax credit card doesn't charge a cash withdrawal fee, and nor do they charge a foreign exchange fee either so you get the best rate possible! Just load it with cash to avoid the interest charges.

Only the Halifax Clarity card -which is brilliant. All other Halifax cards make the usual charges.

With Clarity, you are given wholesale exchange rates which are very favourable. I only use it for payments (not cash) and they claim their bill from my bank account by direct debit later, so no interest either.

Yes I didn't make that clear only for the Clarity card does this apply. About preloading the card someone made a comment on another thread that it would break the T & C but I've just read the T & C and nowhere does it mention that you can't do this.

[NancyL]

Everyone who is living here for most of the year should have local bank account. Bangkok Bank Is great because they can accept overseas direct deposits like VA and SSA from their NYC branch and they also have a London branch. ATMS transfers from a foreign account is THE most expensive way to get your money here.

Hubby and I use a combo of Bangkok Bank and a U.S. credit union (much better than a U.S. bank). I can arrange an intrabank transfer from the credit union to Bangkok Bank NYC for a very small fee and the funds show up here in 24 hrs.

[Dante99]

"ATMS transfers from a foreign account is THE most expensive way to get your money here."

Generally true Nancy but there are cards like Schwab's that can be used with no fees and good exchange rates worldwide. Schwab refunds any ATM fees charged by other banks.

[searcher22]

The TD Bank in Canada has a chequing account called "All Inclusive" which does not charge for worldwide ATM withdrawals. However, you must maintain a minimum balance of $5000 in order to avoid the $30 monthly fee. You also get free certified cheques and money orders, a free safety deposit box, commission-free traveler's cheques and other goodies. So if you use the AEON ATM, you can withdraw cash as many times as you want for free. Those who have concerns about keeping their money in a Thai bank and being a victim of card-cloning or other fraudulent acts may also want to consider such an arrangement. North American banks will refund you if you are a victim.

[elektrified]

Don't be surprised if you get told, "Cannot", and pointed to the ATM.

Every time I've tried (3 times at 3 different banks), that's what they told me. "mai dai" .... as they point to the ATM's.

[elektrified]

Most banks here do not charge a fee for withdrawals made inside the bank using a credit card. One still pays the overseas bank fees. In order to avoid paying interest I transfer the money from my savings account to the credit card account prior to making the withdrawal.

I can't speak for your CC but the US CC's I have will consider any cash withdrawal as a cash advance and will charge interest even if you have a credit amount on your credit card that would cover your withdrawal amount. I have inquired my CC banks about this asked already.

I took out a cash withdrawal one time on my American Express card without giving it much thought. This was when I was in Europe a few years back. After 3 or 4 months I was curious as to the charge. Took a look and the interest rate was something like 28.56% P/A for "cash advance"! Maybe think twice if you are thinking of going this route.

[JimGant]

ATMS transfers from a foreign account is THE most expensive way to get your money here.

Not so. As many articles on the financial forum have pointed out, a no fee (including eating the 150bt ATM fee) Visa card, like Schwab, will realize, on average, an 8 satang advantage over the buying TT rate for the date. And, since you'll never realize the TT rate when you wire or ACH money thru Bangkok Bank NY (because of the front end and back end fees), the spread between a Schwab ATM transaction and a BB NY ACH transaction further increases. Granted, the larger the amount sent, the less this detriment against the TT rate [money wired/ACHed, and received 1 Oct, would have gotten -- before fees -- the 31.07 buying TT rate for 0830 at Bangkok Bank. For, say, $9000 ACHed -- after the $10 upfront fee, and 500bt back end fee, the effective rate would have been 30.98. If $20K were ACHed, the effective rate would have been 31.03.]

Had you, on 1 Oct -- after 11:00AM Thai time -- used your Visa Schwab (or other Visa fee less card) in an ATM machine, you would have realized 31.20 [see http://corporate.visa.com/pd/consumer_services/consumer_ex_rates.jsp ]. Yeah, a bigger spread than the *on average* 8 satang rate -- but in times of crazy FX changes, Visa lags, regardless of the direction of the FX stampede.

So, yeah, with a steady FX rate, getting your money from an ATM machine with your Schwab Visa ATM card (or similar fee free Visa card) would be THE least expensive way to get your money here. However, because of the bouncing FX ball, I'm content using my Bangkok Bank Be1st ATM card (vs. my Schwab card), especially lately, when I've needed to funnel large amounts here for purposes other than walking around money. And, the last chunk I ACHed here -- at 32 to 1 rate -- to include walking around purposes for the next several months -- sure seems better than having to use my Schwab at today's 31 to 1 rate.

Anyway, that works both ways, depending on where FX is headed. However, long term over the past 10 years, ACHing was superior to using Schwab.

However, having said that, again -- with a steady FX rate -- a fee free ATM option, like Schwab, is the LEAST expensive way to ship money over here for day to day living.

[JimGant]

If you go in to the bank you us TT as Exchange (TelexTrasfer) that give you much better exchange than ATM for example Bank of Ayudhya ATM- 30.02000 +150thb and your home bank. TT-30.97000 + home bank

Big different in one year.

Apparently, you have a MasterCard -- and chose "use native currency" (the DCC option). Bank of Ayudya is one of a few Thai banks that offer the DCC option. Which allows them to establish their own FX rate, not the advertised Visa or MasterCard rates -- which exceed the DCC rate by 3%, or better.

Had you turned that lousy option down -- or used a Visa from a non Euro country -- you would have gotten -- at the ATM machine -- the published Visa or MasterCard FX rate approximating the TT rate (Visa actually averages several satang better than the published buying TT rate for that day).

[jonwilly]

Not Thailand but Angeles City, Philippines.

My 'mate' had neglected to warn me of problems with Debit cards being snatched by the ATM for no reason.

Watching the customer in front have his card Taken, I decided to go inside and withdraw money using my Debit Card and Passport which I KNEW will work worldwide.

I politely placed my Debit Card and Passport in front of the young lady behind her desk and requested £100 equivalent.

She Screamed Loudly, got up and was gone in a flash. Not a major problem apart from two Security Guards cocking their Pump Action Shot Guns and turning toward me.

Not a sound you will ever forget or fail to recognize even if you have never been near a shotgun in your life.

The young lady came back, still very upset and Asked me not to proceed with the transaction, as she was personably responsible for any counterfeit transactions and any deficiency would come out of her wages.

I left and obtained money on my Credit Card from my Hotel owner who was a genuine bloke and friend of my 'mate'.

john

Edited October 2, 2013 by jonwilly