One Good Reason to Still Use AEON ATMs-Sometimes

[TallGuyJohninBKK]

I was reminded the other day that there's still one good reason to use AEON ATMs to withdraw cash using foreign debit cards -- in SOME cases.

If you don't need or want the full 30,000 baht that ATMs such as TMB, Ayudhya and CIMB can dispense in a single pull, and are willing to settle for the maximum 20,000 or less baht that AEON ATMs will dispense per withdrawal, then AEON ATMs could be a better choice than the regular Thai banks.

Why??? Because, AEON ATMs are still charging only a 150 baht withdrawal fee for both foreign VISA and MasterCard cash withdrawals, whereas basically all of the mainstream Thai banks are now charging the higher 180 baht withdrawal fees for foreign MasterCard withdrawals, and most if not all are doing the same for foreign VISA card withdrawals.

The exchange rates are going to be the same in most cases, regardless of which bank's ATM is used. So why not save 30 baht (almost $1) per withdrawal -- as long as you're not needing more than 20,000 baht for that withdrawal. But if you need more than 20,000 baht, then it obviously makes more sense to pay the higher 180 baht fee and get up to a 30,000 baht withdrawal, than do two separate withdrawals and pay 360 baht (2 X 180b) in fees.

[CNXSTEVE]

Or just go into the bank, do a cash advance and pay no fee at all.

[JimGant]

John, you give a whole new meaning to wealth management......

[TallGuyJohninBKK]

Or just go into the bank, do a cash advance and pay no fee at all.

That works too...if you can find a Thai branch that won't send you to use their ATMs instead, and you happen to be carrying your passport with you, which the bank will typically demand for a counter withdrawal.

But, some portion of smart folks also carry/use foreign debit cards that also reimburse any/all ATM charges assessed by other banks, so they end up getting the ATM fees refunded anyway for a net no-fee transaction.

[LindaLovelace]

Or just go into the bank, do a cash advance and pay no fee at all.

That works too...if you can find a Thai branch that won't send you to use their ATMs instead, and you happen to be carrying your passport with you, which the bank will typically demand for a counter withdrawal.

But, some portion of smart folks also carry/use foreign debit cards that also reimburse any/all ATM charges assessed by other banks, so they end up getting the ATM fees refunded anyway for a net no-fee transaction.

Driver license has always worked for me (perhaps they love me because I'm beautiful). Maybe you don't have one . . .

TGJ, didn't we just go down this road with you, ad nauseam, about three weeks or so ago? As I recall, you continued to beat the horse long, long after it was dead.

Edited June 3, 2015 by LindaLovelace

[BKResort]

150 to 180 for one time a month is not a BIG deal...but...how about the 2% fee?

[maphraw]

The Siam Commercial Bank that I use told me that the cash advance option with a foreign credit or debit card is more expensive than using it with their ATM machines, despite the 180 Baht fees. I didn't ask how much more expensive but they assured me it is. This is what they told me at the bank. Next time I go the the bank I am going tod find out what the exact charges are.

[JimGant]

The Siam Commercial Bank that I use told me that the cash advance option with a foreign credit or debit card is more expensive than using it with their ATM machines, despite the 180 Baht fees. I didn't ask how much more expensive but they assured me it is. This is what they told me at the bank. Next time I go the the bank I am going tod find out what the exact charges are.

Look at the bottom of this SCB web page. SCB uses their own FX rate for cash advances, not Visa/MC rate. And, yes, it is more expensive (same/akin to a DCC rate).

http://www.scb.co.th/scb_api/index.jsp

[Pib]

May want to avoid SCB because based on previous ThaiVisa posts as it appears HQ SCB issued a new policy a few months ago not to accept "debit" cards for counter/teller cash advances...instead point the customer to their ATM machines where they can collect the Bt180 foreign card fee. However, SCB will still accept credit cards for cash advances but if they give you "their" exchange rate you are getting a significantly lower rate than the Visa/Mastercard rate. As far as I know SCB does not charge a standalone fee for doing a cash advance.

Other Thai banks may also point you to their ATMs if wanting to use a debit card for a cash...I know the Bangkok Bank branch I use for cash advances (I have no foreign transaction fee debit/credit cards, no cash advance fee credit cards, and pay any credit card cash advance off same day to avoid any interest charge) will not accept a debit card....they just point you to their ATM...but gladly accept credit card....no fee...you get the Visa/Mastercard exchange rate.

There are quite a few TV posts where a person's branch does accept a debit card for a counter withdrawal/cash advance....This Is Thailand...varies from bank to bank, branch to branch. I use my credit card at a Bangkok Bank branch and a Krungsri branch to get cash advances...no Thai bank fee...you get the Visa/Mastercard exchange rate. As already mentioned, this particular Bangkok Bank branch will not accept a debit card for a counter withdrawal (other branches do based on TV posts)...I've never asked the Krungsri Bank branch since I prefer to use the credit card as I can get a much larger amount per day than with the debit card. But of course if your "card-issuing" bank applies a foreign transaction fee or cash advance fee, don't blame that on the Thai bank...blame that on your card-issuing bank....such fees effectively/indirectly lower the exchange rate you get.

[TallGuyJohninBKK]

As best as I recall, SCB isn't the only Thai bank, there were some others, that also had their own lower/different exchange rates for counter cash advances... Though, those still were in the minority, as best as I could tell.

That's part of the reason I said above that counter withdrawals, especially with debit cards, can be a more troublesome task here... including the issue with bank branches variously telling people they won't do them and to use their ATMs instead.

If you've got a bank that does debit card counter withdrawals for you at the regular VISA or MC network exchange rates, that's great.

But if you want a quick uncomplicated ATM pull for 20,000b or less, and especially if your bank card refunds ATM fees, then AEON ATMs are an OK choice.

Keep in mind, there are lots of folks out there who don't immerse themselves in the arcane details of Thai banking. They just go to a nearby ATM and withdraw their funds. If someone's in that mode and doesn't need more than 20K, it only makes sense to use an AEON ATM that charges a 150 baht fee instead of all the mainstream Thai banks that charge 180 baht.

AEON also can be an advantage for some U.S. accounts that only reimburse other banks ATM fees up to $5 per transaction, and/or, if the amount is above $5, they want you to present the ATM receipt in person at the bank (which obviously would be a no-go for folks here). Right now, the AEON 150 baht fee falls under that $5 limit, whereas the 180 baht fee of the mainstream Thai banks exceeds it.

Edited June 4, 2015 by TallGuyJohninBKK

[elzach]

As best as I recall, SCB isn't the only Thai bank, there were some others, that also had their own lower/different exchange rates for counter cash advances... Though, those still were in the minority, as best as I could tell.

That's part of the reason I said above that counter withdrawals, especially with debit cards, can be a more troublesome task here... including the issue with bank branches variously telling people they won't do them and to use their ATMs instead.

If you've got a bank that does debit card counter withdrawals for you at the regular VISA or MC network exchange rates, that's great.

But if you want a quick uncomplicated ATM pull for 20,000b or less, and especially if your bank card refunds ATM fees, then AEON ATMs are an OK choice.

Keep in mind, there are lots of folks out there who don't immerse themselves in the arcane details of Thai banking. They just go to a nearby ATM and withdraw their funds. If someone's in that mode and doesn't need more than 20K, it only makes sense to use an AEON ATM that charges a 150 baht fee instead of all the mainstream Thai banks that charge 180 baht.

AEON also can be an advantage for some U.S. accounts that only reimburse other banks ATM fees up to $5 per transaction, and/or, if the amount is above $5, they want you to present the ATM receipt in person at the bank (which obviously would be a no-go for folks here). Right now, the AEON 150 baht fee falls under that $5 limit, whereas the 180 baht fee of the mainstream Thai banks exceeds it.

John the problem though is that the last time I did an ATM withdrawal at Aeon (using a US MC debit card) the issuing bank refused to refund the 150 bht fee claiming that it was not SEPARATELY disclosed on their system. Even though it was on my ATM receipt. Btw, this bank always refunded the ATM fee on all previous withdrawals at other Thai banks, no questions asked.

I wonder if anyone else here had a similar experience recently.

So I still do my ATM withdrwals at TMB, paying the higher 180 bht fee (works out to $5.40) since I know I'll be reimbursed.

[Langsuan Man]

I always opt for Thai bank ATM's that dispense the maximum (30,000 THB) per pull since State Farm, Fidelity, and Schwab reimburse the full amount of the fee

Understand where BKK John is coming from but if I had an account that limited my reimbursements to $5 I would get another bank

Now, if only AEON would go back to their previous 40,000 THB per pull allowance I would certainly go back to them in a heart beat, even if they raised the fee to 180 THB

[elzach]

I always opt for Thai bank ATM's that dispense the maximum (30,000 THB) per pull since State Farm, Fidelity, and Schwab reimburse the full amount of the fee

Understand where BKK John is coming from but if I had an account that limited my reimbursements to $5 I would get another bank

Now, if only AEON would go back to their previous 40,000 THB per pull allowance I would certainly go back to them in a heart beat, even if they raised the fee to 180 THB

Another problem though is, and it's rarely mentioned in these kind of threads, where would you stash the 30,000-40,000 baht? Unless a large chunk of that goes immediately to pay rent. And unless you have a good safe in your room. And unless you don't mind walking around with (and losing) a really fat wallet.

For those of us living in serviced apartments, that is an issue. To many of us 10,000-15,000 baht is just a "loss", to many Thais (or Burmese or Cambodians) it's a monthly paycheck.

[Langsuan Man]

I always opt for Thai bank ATM's that dispense the maximum (30,000 THB) per pull since State Farm, Fidelity, and Schwab reimburse the full amount of the fee

Understand where BKK John is coming from but if I had an account that limited my reimbursements to $5 I would get another bank

Now, if only AEON would go back to their previous 40,000 THB per pull allowance I would certainly go back to them in a heart beat, even if they raised the fee to 180 THB

Another problem though is, and it's rarely mentioned in these kind of threads, where would you stash the 30,000-40,000 baht? Unless a large chunk of that goes immediately to pay rent. And unless you have a good safe in your room. And unless you don't mind walking around with (and losing) a really fat wallet.

For those of us living in serviced apartments, that is an issue. To many of us 10,000-15,000 baht is just a "loss", to many Thais (or Burmese or Cambodians) it's a monthly paycheck.

It is rarely mentioned since most members put the cash it in their Thai bank accounts where they can withdraw it in small amounts using a Thai ATM card

Or are you one of those who doesn't trust Thai banks to keep your 30 or 40K safe ?