Aeon Bank now charge 150 B ATM fee

[banagan]

Wow, never knew this. I need to get 75,000 today, was expecting over $16 in fees... bank charges are 180 baht where ever I go, complete rip off.

I've 2 banks, bank of Bangkok and Thanachart, so hopefully one of em play ball.

The solution is simple - it just takes a few minutes longer. Just go into the bank with your passport & foreign credit/debit card & ask for a cash advance on your credit card. The trick is that the sum being requested must be higher than the ATM's usual maximum advance (THB 20,000?).

The bank does the paperwork, gets the authorisation, copies your passport (which you also sign) and the bank give you the cash. Best thing is that there's no fees! Not a single Baht & you get personalised service as part if the deal

Edited December 25, 2014 by banagan

[banagan]

Holy Krap, it worked, I just took out 81,000 baht, no fees!

Happy Christmas everyone

[Pib]

It does indeed work...I just came back for the bank after doing a Bt65,000 counter withdrawal....no fees. I've been doing this approx monthly since early this year.

[BuckBee]

indeed if you going use a visa card use AEON ATM as the fees are 150bt & only 180bt for mastercard.

All thai ATM's I tested was 180bt for visa which pretty expensive considering the stiff middle finger you will get when hit by a problem such as eaten card, wrong money supplied or a skimmer on the ATM.

I don't mind fees but do mind poor services & low grade security & equipment & thai banks are cheap skates & blame dodgers & blatant liars so use wisely.

you best using any ATM in thailand at a main branch while it open that way if get problems you more likely get help perhaps !

[siam2007]

Ok so there is really no way to avoid at least the 150 bath fee now.

What about company specialised in exchange currency like Super Rich? maybe they can offer better service.

You can buy foreign currency (but not Thai Baht as far as I know, though I haven't tried this yet) at SUPERRICH using your credit card, but they will charge a fee for it. if I remember that right, it was 3%.

Some time ago, I needed a thinly traded Asian currency in cash, and I bought it at their HQ near Central World using my card (to avoid several withdrawals of Thai Baht beforehand, that would have cost me more than 400 Baht in fees each, as my home bank of course charges for that too, not only that Thai ATMs).

In the end, despite the 3% fee that SUPERRICH imposed, it was cheaper and more convenient to do it that way. Plus my home Bank did not discover that this currency transaction was actually a "withdrawal" too. They handled it like it was a purchase at a regular store, means no extra withdrawal fees from their side

[Pib]

indeed if you going use a visa card use AEON ATM as the fees are 150bt & only 180bt for mastercard.

All thai ATM's I tested was 180bt for visa which pretty expensive considering the stiff middle finger you will get when hit by a problem such as eaten card, wrong money supplied or a skimmer on the ATM.

I don't mind fees but do mind poor services & low grade security & equipment & thai banks are cheap skates & blame dodgers & blatant liars so use wisely.

you best using any ATM in thailand at a main branch while it open that way if get problems you more likely get help perhaps !

Are you sure AEON charges Bt180 when using a MC? Have you personally tried it with a MC? The AEON web site still says Bt150 for cards issued by foreign banks...they do not make any fee distinction between Visa or MC.

http://www.aeon.co.t...nt/aeon-atm-fee

[bearpolar]

It does indeed work...I just came back for the bank after doing a Bt65,000 counter withdrawal....no fees. I've been doing this approx monthly since early this year.

What kind of VIG are they taking on the exchange?

When i wire from my account to my thai bank i end up paying 1-2% of the ammount total in fees and exchange rate

Wondering if just taking it out of my debit card at the cashier is better.

[Pib]

It does indeed work...I just came back for the bank after doing a Bt65,000 counter withdrawal....no fees. I've been doing this approx monthly since early this year.

What kind of VIG are they taking on the exchange?

When i wire from my account to my thai bank i end up paying 1-2% of the ammount total in fees and exchange rate

Wondering if just taking it out of my debit card at the cashier is better.

VIG? Don't know what that means.

But regarding exchange rate you get the Visa/Mastercard exchange rate which is plus or minus a few stang the TT Buying Rate used for incoming international remittances.

Regarding which is cheaper for you it all depends on if your card-issuing bank debit card charges a foreign transaction fee (mine don't). If you have one of those cards which charges a 1 to 3% foreign transaction fee then it may not be any better than using your wire transfer method. And hopefully you don't let your home country sending bank convert to baht while sending as a bank outside of Thailand gives a significantly lower rate than what a Thai bank gives. Baht is not a major currency and only used within Thailand (except a little bit for border trade) and don't pull a good exchange rate outside of Thailand.

[bearpolar]

if i send 300k baht i pay about 3k on it with wire

[Pib]

if i send 300k baht i pay about 3k on it with wire

That amounts to 1% like you mentioned earlier. Since Thai banks only charge approx 0.25% (Bt200 min, Bt500 max) that means the other approx 0.75% is Sending bank SWIFT fees and/or Sending bank lower exchange rate if you are allowing your sending bank to convert to baht before sending.

[elephant45]

AEON ATM has absolutely no variation in total fees from BKK Bank after the whole thing gets added up. I did a pull at both of them in short time and there was a few cents difference. Aint worth going there anymore.

[Pib]

As far as I know, AEON still charges a Bt150 ATM Use Fee compared to the Thai bank Bt200 ATM Use Fee.

Regardless of any ATM you use, AEON or Thai bank, they use the card-network (Visa/Mastercard) exchange rate unless they offer you a DCC transaction which is that ATM's rate...always decline a DCC offer as the exchange rate will be about 4% lower. Continue on to get the card-network rate. And then you will have your card-issuing bank's foreign transaction fee. Anyway, the fees mentioned in this paragraph are exactly the same regardless of what ATM you use in a foreign country.

So, the only variable is the front-end ATM Use Fee charged by the owner of the ATM. Since AEON ATM Use Fee is Bt50 less than a Thai bank ATM Use Fee, using an AEON ATM will result in Bt50 less total fees.

[elzach]

Reviving this topic, to point out that the 150 baht that Aeon charges now it's actually a bargain. I was kinda shocked to see that even TMB raised their fee to 220 baht. I guess the sky's the limit. Next year, who knows? 300 baht?

 

Btw, for foreigners who mistakenly may think "no big deal, I pay 5 AUD back home" for example, Thai banks charge 200 baht a year to Debit card holders.

[worldfun]

yeah very weird why the collusion to have exactly 150B fee on all ATMs on every bank and not compete on it say 149B LOL.

how about going into the branch at teller what is the fee then or do they refuse to do CC withdrawals which could also be a higher amount than ATM 20/25/30 bills limit?

[siam2007]

On 24/07/2017 at 5:52 PM, elzach said:

Reviving this topic, to point out that the 150 baht that Aeon charges now it's actually a bargain. I was kinda shocked to see that even TMB raised their fee to 220 baht. I guess the sky's the limit. Next year, who knows? 300 baht?

 

Btw, for foreigners who mistakenly may think "no big deal, I pay 5 AUD back home" for example, Thai banks charge 200 baht a year to Debit card holders.

 

 

it gets even worse when you choose the "convenient" currency conversion offered by those ATM's (AEON not so).

If you withdraw 20K, you could easily lose another 600-1000 THB on currency conversion.

 

FYI:  Bank of China still until today does not charge any fees. Their network of branches and ATM's is growing