Are all Thai banks charging 180B foreign atm fee now?

[stockholm1995]

The best option is to bring cash( best exchange rate), open a bank account ( tell the bank you want to buy acondo ), change the money and deposit it in your Thai account.

[Timwin]

The exchange rates you get with VISA and MC logo debit cards are the international exchange rates set each day by the VISA and MC networks, and those are pretty good rates in the marketplace, with VISA usually being better, and MC a bit worse.

You get that rate when you buy something with your card, not with ATM withdrawals. ATM rates are the worst and you will get better rates with bank counters using the POS machine instead, swiping the card. So you get the buy rate, instead of the ATM rate. I am using US based MC debit card.

"However, many banks charge higher fees for international ATM withdrawals -- either a flat rate (typically $1 - $6) or a set percentage of your total withdrawal (usually 1 - 3 percent)."

So 3 percent from 20000, which is usually the max per withdrawal, is 600 Baht. You are not charged that with the swiping terminal.

Edited May 3, 2014 by Timwin

[Carib]

Its all part of TAT/Government and Thai Banks welcome to the Land of the smiles advertisement ...

When all those happy tourists arrive for their joili hols (actually not so many now?)they are invited to withdraw their hard earned dosh from those nice ATMs and be charged a fee and that's ...before they even get a chance to spend any of their Moolah....

Gives them an idea of whats to come.....eh

Hence the "Land of the Smiles"...TATs /Gov and Banks (all smiling)....Kop Koon Jao...

Yes it's only Thai banks that try to make a profit when providing a service. Banks in other countries are run as charitable organizations.

But charging 150-180 Baht is robbery .

You guys should try traveling a bit more, in the Caribbean/south American area I am charged $3.75 to $4.50 depending on the ATM I use .

It has got nothing to do with Thailand, but everything with banks screwing you over.

[SunsetT]

does anybody have info on the rate you get from an atm when using a foreign card in thai, the atm offers a rate a little bit lower than market exchange rate and then asks if you want to continue with that rate or decline that rate and proceed with a rate that isn't shown.???

DECLINE! Why do u think they offer it? They give u their inferior rate and skim off the difference. It is not just Thailand. I had it offered at a Spanish ATM last year. It is the same scam they try when making a card purchase abroad, especially in Duty Free en route, when they ask if u want to pay in your home currency or dollars or Euros. Always tell them before the card transaction that u want to pay in their currency. You will then get your card's Visa or Mastercard rate and not the lousy exchange rate they give you.

[scunner]

I thought hte solution for this was to open a Thai bank account (there are quite a few threads on this in TV), and deposit cash into it (Baht, £, € or US$) etc

[TallGuyJohninBKK]

The exchange rates you get with VISA and MC logo debit cards are the international exchange rates set each day by the VISA and MC networks, and those are pretty good rates in the marketplace, with VISA usually being better, and MC a bit worse.

You get that rate when you buy something with your card, not with ATM withdrawals. ATM rates are the worst and you will get better rates with bank counters using the POS machine instead, swiping the card. So you get the buy rate, instead of the ATM rate. I am using US based MC debit card.

"However, many banks charge higher fees for international ATM withdrawals -- either a flat rate (typically $1 - $6) or a set percentage of your total withdrawal (usually 1 - 3 percent)."

So 3 percent from 20000, which is usually the max per withdrawal, is 600 Baht. You are not charged that with the swiping terminal.

It's true that bank counter withdrawals, if the Thai bank will do them, have no ATM fee. Though, they would have the same foreign currency fee as a foreign ATM withdrawal, if your U.S. card has a foreign currency fee. Lots of Thai banks, however, wont do counter withdrawals, and instead send you to their ATMs. It varies branch by branch, and staff person to staff person.

But you're wrong about the differential in card rates between ATM withdrawals and debit card purchases abroad. The basic MC or VISA international network rate is going to apply the same to either kind of transaction. However, your card issuing bank may have a different fee structure for ATM withdrawals vs purchases, and that would impact your net costs/proceeds.

You only get what I'd consider to be a bad deal if your home country card is charging a foreign currency fee (none of mine do) and you're making ATM withdrawals with the Thai withdrawal fee that your card-issuing bank doesn't reimburse (mine do). If you're not paying a foreign currency fee and not paying the Thai withdrawal fee, you're getting as good a rate as is possible via that kind of ATM withdrawal.

BTW, MC's network rates are almost always lower than VISA's network rates for foreign transactions. So, anytime you're using a MC, you're going to get a worse exchange rate than a comparable VISA logo card with the same fees, if any, from the card issuing bank.

[Dellie]

All banks around here in Rayong still charge 150 baht. I did however get a 180 baht charge at Central in Pattaya.

[frimu]

Here the summary of the situation from my blog:

http://www.dontworryjusttravel.com/asiapacific/thailand/avoid-the-150-baht-atm-fee

[TallGuyJohninBKK]

Here the summary of the situation from my blog:

http://www.dontworryjusttravel.com/asiapacific/thailand/avoid-the-150-baht-atm-fee

I believe your info re Citibank ATMs is out-of-date.

They used to not charge the Thai bank ATM withdrawal fee. But I've tried/used them over the past year with a variety of (non Citi) U.S. debit cards, and the Citi ATM screen (Asoke and CentralWorld) always pops up a 150 baht fee message.

Last time I tried them with a MC logo card, the fee was still 150 baht. But that was some time ago, so I'm not sure whether or not they've joined the 180 baht bandwagon for MasterCard logo cards.

[Jonmarleesco]

I don't often use my international card, but when I last did, at Xmas, it cost me B150 through BAY. I should say that, having checked online on a number of occasions, BAY tend to offer the best FX rates, going some way towards offsetting the fee.

[dundas]

does anybody have info on the rate you get from an atm when using a foreign card in thai, the atm offers a rate a little bit lower than market exchange rate and then asks if you want to continue with that rate or decline that rate and proceed with a rate that isn't shown.???

I think the rate they offer you is one that favours the Thai bank, and to add insult to injury you may still incur foreign exchange fees at your end (but that depends on your home bank). The advantage they tout is that you'll get a known rate - but in my experience, the unknown rate has always been better.

Edited May 5, 2014 by dundas

[TallGuyJohninBKK]

I don't often use my international card, but when I last did, at Xmas, it cost me B150 through BAY. I should say that, having checked online on a number of occasions, BAY tend to offer the best FX rates, going some way towards offsetting the fee.

When you use a Thai bank ATM with a foreign VISA or MC card, the foreign exchange rates are set by those card networks -- not by the particular Thai bank that owns the ATM you're using.

The exchange rate you end up receiving will vary -- but only based on what home country card you're using, and what kind of foreign currency fee (if any) that your card-issuing bank charges on foreign transactions.

The only exception to the above rule is for MasterCards, and at some ATMs such as from Siam Commercial and Bank of Ayudhya. In some cases, those banks ATMs will ask the patron via the ATM screen if they want their transaction shown in your home country currency, not Thai baht. And if you accept that offer, then you'll get a LOWER exchange rate by a couple percentage points that is set by the Thai bank. That's called Dynamic Currency Conversion, and is a bad thing that a cardholder should NEVER accept.

BTW, last time I checked, Bank of Ayudhya also was among those that had raised their withdrawal fee to 180 baht for Mastercards.

Edited May 5, 2014 by TallGuyJohninBKK

[TallGuyJohninBKK]

does anybody have info on the rate you get from an atm when using a foreign card in thai, the atm offers a rate a little bit lower than market exchange rate and then asks if you want to continue with that rate or decline that rate and proceed with a rate that isn't shown.???

I think the rate they offer you is one that favours the Thai bank, and to add insult to injury you may still incur foreign exchange fees at your end (but that depends on your home bank). The advantage they tout is that you'll get a known rate - but in my experience, the unknown rate has always been better.

That's an example of Dynamic Currency Conversion, which I described in the prior post above. It's ONLY optional. The ATM screen will ask if you want your transaction displayed in your home country currency, instead of Thai baht. And if you accept that, you'll get a LOUSY exchange rate set by that ATM's Thai bank. If you decline that offer, you'll get a better rate set by either VISA or MC, whichever type of card you're using.

BTW, the VISA card network doesn't allow banks to use Dynamic Currency Conversion for ATM transactions. So that particular ripoff is only going to arise if you're using a Mastercard logo card, and not all Thai banks engage in this. But I believe Ayudhya and Siam Commercial are among those that do.

But as I said above, that DCC offer is always made just as that... an offer. You always will have the option to decline it, and you should. But of course, when the ATM screen makes that offer, it's presenting it as a convenience to the presumed tourist card user. The ATM screen doesn't tell you that if you accept, you're getting an exchange rate that's a couple percentage points lower than what it should be.

[Gillyflower]

TallGuyJohn

I have lost the thread with the OP wanting to know about using his Amex. I posted and you replied but I had to go away........so now I am answering. We have had part of this conversation before!!!!

First you must excuse me if I don't use the correct banking terms in English. I learnt them in French. I learnt to ride a horse in French too and I still don't know the technical words in English even if it is my mother tongue. I have two bank cards. One MC -instant debit and Amex debit differred. I use the Amex in T'land because I do not pay the 150/180 baht.

You said to me that it must cost me a lot more. Well NO!!

I have a French Amex. I have 3 bank accounts - I checked with the brochures of their tarifs for withdrawals in distributeurs hors de la zone euro. The Credit Agricole.....withdrawal 3.50% charges 2.20%

The Post Office....withdrawal 3.30% charges 2.30%.............CIC Withdrawal 2.90% charges maximum 8.15 euros.

American Express withdrawal 2% or 3.00 euros over 150 euros. charges 2 1/2%.

I don't know what the Amex charges are in other countries, but you see that here at least it is VERY profitable to have an Amex viz a viz a la Thailande.. Every year it costs about 2-3 euros more than the MC or V - differred credit.

Every year it has always gone through my a/c within 48 hours, this time about 2 weeks. I asked if this cost me anything.......not at all.

I asked about the exchange rate......whatever it is when they are informed of the operation.

As I am going to San Diego later on........I asked about that. I have a FOREIGN Amex card and will pay the rates as mentioned above.

I think I have covered everything. It's early PM here. Snow on the mountains. i am wearing my winter undies, socks up to my knees and wondering why I whinge about the March heat in CM>

[TallGuyJohninBKK]

I do remember the exchange we had on that subject in a different thread. It struck me that, whatever kind of French Amex card you have, it's not likely one that most people reading here are going to have or have access to.

American Express withdrawal 2% or 3.00 euros over 150 euros. charges 2 1/2%.

If your particular card allows you to avoid the 150/180 baht Thai bank ATM withdrawal fees, that's good. But if it's also charging you a 2.5% fee on larger amounts you withdraw via ATM, that's kind of offsetting the benefit.

For example, if someone was doing the largest single Thai bank ATM withdrawal possible right now (30,000 baht) and their card was charging them a 2.5% fee, that amounts to a surcharge of 750 baht. By comparison, someone using a no foreign currency fee card, of which there are many, could make the same 30K ATM withdrawal and pay only a single 150 or 180 baht Thai bank ATM fee.

Beyond that, I'm struggling to decipher the details you've written above, and I'm not entirely sure I've been successful in following your description.

[Gillyflower]

I think you are being a bit insulting. That's a pity because I thought you sounded rather nice in other posts.

I have re-read what I wrote and it seems clear. I gave you the bank card rates for 3 different establishments plus Amex. No matter what bank they charge rates no matter what that the amount withdrawn is. Tomorrow I'm going to go to these bloody banks and find out if there are other cards with no foreign currency fees.

Unless you are trying to decipher what winter undies and sock up to the knees are!!!!!! Ah, ah , ah, that's what you don't understand!!!! I will be there in a few months time. I'll show you if you like!!!! Have to come up to CM though. Mind you I'm not too happy about it. I only have a 22kg baggage allowance.

[TallGuyJohninBKK]

I had no intention to be "insulting." But I was and am struggling to understand your details and description of your card/fee details....

The rest...is best left alone.

As for no-fee cards, it depends entirely on what country a person is applying for the cards in. There are many available to folks applying for accounts/cards in the U.S. In the UK, there are at least a few remaining. But I'll freely admit, I have zero knowledge of the French banking world.

Edited May 6, 2014 by TallGuyJohninBKK

[Gillyflower]

Tall Guy John

Stupid remarks and I apologise.

[pitrevie]

Its only a matter of time before all withdrawals from ATM's will be charged for. Then you will get offers, pay an annual charge of x baht and all your withdrawals will be free and various other scams. In mathematical terms banks exist for you to deposit x baht in and receive x-y baht back. How else are bankers going to get huge salaries with interest rates so low.