Thai ATM'S

[MockingJay]

ATMs !!!!

Check apostrophe catasprohes... http://www.apostrophecatastrophes.com/

[ScottMallon]

Find a bank in the UK that refunds what you are charged by the Thai bank. This is what I do, although my bank is in the US. I have an account that refunds the 180 baht within a day of making a withdrawal. You just need to look around and ask the banks the right questions.

[Thunderbirds20]

I have lived here for 10 years, ..about 7 years ago the ATM Fee was 20 baht, ... but it went to 150 baht in one day. A year or so ago it went up to 180 baht!! Welcome to Thailand!!

[little mary sunshine]

Absolutely amazing how cheap people can be. I take out B30K

the 1st of the Month and another B25-30K around the 15th of

The month. With everything being so inexpensive compared

To the States or Europe, how can you complain about $25 a

Month to keep your funds safe in your home country!!

[Pib]

I'm glad some folks don't mind giving banks $25/month in fees....it's good for the banking business.

[aronp1]

You may pay 180฿ fee, but the exchange rate is better through an ATM. Although they do differ between banks. You can always check for the best on Google.

[Pib]

You may pay 180฿ fee, but the exchange rate is better through an ATM. Although they do differ between banks. You can always check for the best on Google.

ATMs use the Visa/Mastercard (i.e, applicable card network rate). Different rates only apply if you choose (fall for) a bank Dynamic Currency Conversion (DCC) late which is that's bank's rate (a lower rate by several percent).

You can google all day and you will not find a bank's "ATM" rate...they don't publish them...a few will publish their DCC exchange rate for a "credit" card transaction and that rate may apply for a cash withdrawal using a debit/credit card but that is the bank's DCC rate....don't accept a DCC offer if it appears on the ATM screen (it probably won't be called DCC but some warm & fuzzy term like The Bank Rate)...decline that offer so you can move on and get the higher card network exchange rate.

You will not see ATM rates when going to a Thai bank's (or any bank's) exchange rate page...you see TT Rates, Sight/Cheque Bill Rates, Note rates, etc., but not ATM rates. Mainly because they use the card-network rate (i.e., Visa/Mastercard/Union Pay) unless as previously mentioned you fall for their DCC offer. Go to the Visa/Mastercard exchange rate webpage to find out the rate....and don't forget to crank-in any "foreign transaction fee" your card-issuing bank may apply.

[landslide]

My wife (Thai) and I live in the USA, but spend part of the year in Thailand. My wife maintains an account at Kasikorn Bank. We bring cash from the USA, but immediately deposit it in her account, and use her ATM card when we need cash. It is convenient, and saves all the fees and exchange charges.

[TechnikaIII]

I eliminated the 180 Baht fee by opening a Citibank account in the home country.

The exchange rate Citi gives me is within a Satang or two of the rate given by xe.com and there are no fees charged by either my home branch or the Bangkok branch. Problem solved.

I also opened a Thai bank account for convenience, because there are very few Citi ATMs around. They do have 'partner bank' arrangements for Thai Citi card holders for free cash withdrawals.

So I withdraw mothly amounts from Citi, and deposit in the Thai Government Savings Bank for safety, and access to their ATMs.

Edited August 26, 2015 by TechnikaIII

[Tony125]

1. If you have a Gold Citi Bank account you will not be charged any ATM or withdraw fees. You can open a CitiBank account at the branch next to Asok Station with 100,000 baht and they will link your USA or EU accounts and will not be charged any fees.

2. If you open up a Bangkok Bank account you can transfer money from accounts in USA or Britain by direct deposit or online thru their branch in NYC or London .http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUK/Pages/ReceivingFundsfromUK.aspx

3 Can lesson the pain of withdraw fees by using CIMB Bank, Thai Military Bank, KrunkSri Bank (yellow ATM), or Citi bank wich alow up to 30,000 baht withdrawal at a time. Bangkok Bank alows 25,000 baht withdrawal at a time.

You have to try to open account at different branches , Citi in Central would not open account for me for any reason ( I am USA citizen) but branch near Asok Station would with 100,000 baht deposit. Some Bangkok Bank braches will open account on tourist visa others want work permit or retirement extension.

Edited August 26, 2015 by Tony125

[aronp1]

TT rate is the ATM rate. Funds converted via ATM are converted at the TT rate.

[aronp1]

Use Credit and ATM Cards

You will almost always get the best interbank exchange rate when buying foreign currency with either ATM cards or credit cards, which will usually be 2 to 7 percent better than the rates you'll get when exchanging cash or traveler's checks.

[aronp1]

http://daytodaydata.net/

To determine the current rate of exchange of your home currency to the Thai baht, you can check this web site which shows the rates offered by all major Thai banks/FOREX specialists.

Use the first drop down box to insert your home currency.

You can also check ATM rates (option TT), and Travellers Cheque rates (option cheque)

These rates are exactly what the banks listed are offering at this moment.

[Pib]

TT rate is the ATM rate. Funds converted via ATM are converted at the TT rate.

TT stands for Telegraphic Transfer which relates to the transfer of funds via wire/SWIFT/ACH/etc. While the TT rate is usually pretty close to the exchange rate provided by the card networks the exact exchange rate you get an an ATM when not doing an DCC transaction is listed at the Visa/Mastercard (card-network) exchange rate web pages. But sometimes you might see a difference up to the plus or minus 0.5% ballpark between the TT Buying Rate and Visa/Mastercard (ATM) rates. All depends on forex market volatility, approx 24 hour lag time between forex rates and Visa/Mastercard setting it rates for the next day whereas banks change their TT rates much more quickly...usually a couple times per day....sometimes a lot more, etc.

Below are the Visa and Mastercard exchange rate page links....please note on the Visa page if using a card issued by a European bank to use that sublink as the exchange rate will be a little different than the Visa exchange rate used for the rest of the world.

Visa: http://usa.visa.com/personal/card-benefits/travel/exchange-rate-calculator.jsp

Mastercard: https://www.mastercard.com/global/currencyconversion/index.html

http://daytodaydata.net/

To determine the current rate of exchange of your home currency to the Thai baht, you can check this web site which shows the rates offered by all major Thai banks/FOREX specialists.

Use the first drop down box to insert your home currency.

You can also check ATM rates (option TT), and Travellers Cheque rates (option cheque)

These rates are exactly what the banks listed are offering at this moment.

Once again, the TT rate is "not", repeat, "not" the ATM rate. You just won't let that bone go will you. Even the website link you gave clearly states in its note code at the top of the page, "For approximate ATM rates, Select TT Currency type" and then gives you the Visa and Mastercard exchange rate links so you can go get the exact ATM.

Additionally, TT Rates usually change numerous times during the day...all depends on the forex market volatility....but the Visa/Mastercard exchange stay the same for a 24 hour period except in a few extreme cases for some currencies. Do your ATM withdrawal at 1pm and it will be the same rate you get if doing another withdrawal at 5pm although Thai bank TT rates and their other rates such as Sight Bill, Notes, etc., may have changed several times over that 1 to 5pm time span.

[balford]

Doesn't matter which way you go, you are still going to be robbed/screwed/rorted by the banks. I withdraw each fortnight from our Australian bank and get charged AUD4.00 for the privilege - the Thai ATM charges THB180 and based on the echange rate that equates to almost AUD7.00. So if I draw THB1,000 (never, never, never) or THB50,000 I get charged the equivalent of AUD11.00. I have a Thai bank account but you still have to transfer funds (I'm on a RAAF Pension paid foretnightly), so lose-lose is the end result.

So much for banks being our friends and there for us, the customers who provide them the money to use to earn interest for THEM and their shareholders... And the banks in Australia are reporting profits in the billions of dollars.

Bob A. Relaxed in Lampang

[Pib]

When it comes to debit/credit cards and funds transfer fees, some banks (maybe most) are definitely making a killing on fees...milking their customers. If a person is with one of those banks they should consider switching to a bank that offers lower fee products/services.

Just like in the U.S. some banks charge 3% percent foreign transaction fees on their cards, charge monthly bank account maintenance fees, charge to do funds transfers, charge for their Bill Pay, etc. While other banks charge zero in above mentioned areas. And sometimes a person can have a banking product/card that's free/low cost as long as they accomplish transaction in their home country, but use that banking product/card in a foreign country and healthy fees exist.

Yeap, sometimes a person just needs to change to another bank/card....shop around. Better your money stay in your pocket versus going into the banksters fee pocket which can be pretty deep sometimes.

[aronp1]

Obviously you skipped over this part. You can also check ATM rates (option TT), and Travellers Cheque rates (option cheque)

These rates are exactly what the banks listed are offering at this moment.

[hugh2121]

I found out on another thread that they donot only charge 180 baht fee, but was informed by another member that the rate we get is usualy lower by at least 1 baht. So they charge you 180 baht to give you money at a reduced rate. You are just here on a holiday some of us use ATM's regularly and live here costs us thousands of dollars a year.in fee and rate discount.

So why don't you make international transfers to a Thai bank and pay a one off fee.

I transfer from Barclays UK to Bangkok Bank and can send up to 25,000 GBP a time,it costs £25.

To put that into retrospective I can send in one go Thai Baht 1 million 400 thousand odd and pay Thai Baht 1400.

If I use my ATM card instead after 10 uses of any of the Thai ATM machines I will have spent the same 1400 baht in fees and only gained access to around 130,000 Thai Baht.

No forgetting that the exchange rate is usually better through international transfer.

Ok I forgot the 20 baht fee often applied to using Bangkok Bank debit card at other machines,but I usually go in the bank or use Bangkok Bank ATM machines.

The OP appears to be a tourist and without a visa cannot get a Thai bank account.

However, £25 per transfer??? Have a look at www.ukforex.co.uk Better exchange rate than Barclays and NO transfer charge. 500THB charge by Bangkok Bank.

[Pib]

Obviously you skipped over this part. You can also check ATM rates (option TT), and Travellers Cheque rates (option cheque)

These rates are exactly what the banks listed are offering at this moment.

Obviously you don't read what the webpage says...please take notice of the note at the top of the page where is says "for "approximate" ATM Rate, select the TT..." Then at the end of the note it gives you the Visa and Mastercard links where you can go see the "exact" rate?

Have you ever looked at the actual rates hitting your bank/card account? You must not have because then you would not be stuck on continuing to say ATM and TT Rates are the same. When you decide to look at the actual exchange rate hitting your account then you will you will find out that rate exactly matches the Visa/Mastercard exchange rate minus any foreign transaction fee your card may carry. If your card is a no foreign transaction fee card (i.e., the card-issuing bank does not charge any foreign fee) then their won't be any math to do.

Here's the cut and paste from the website you give which is indeed excellent to find out exact TT, Notes, Sight Bill, Check, Draft rates for various Thai banks without having to go to the individual bank sits...but it does not list list a bank's ATM rate because bank's don't publish their ATM rates because they use the Visa/Mastercard exchange rate assuming you don't accept a DCC transaction.

I'll let you continue to play with that "TT is ATM bone" you won't let go of...enjoy.

[jacko45k]

I can only think that a regular visitor could have a local account and transfer money in. I can do that and the total cost is the 500 baht at the Bangkok Bank end.

My UK bank does not charge at the moment, but years ago there was a £20 charge. At least I could transfer a larger amount to minimize the overall cost of that.

Tourists seem to be stuck with the high local and perhaps a high UK Bank charge for overseas use of their ATM card. Or the risk of carrying or storing all their spending money as cash. At least TT exchanges give a good rate. (55.35 baht/£ yesterday).

If you are forced to use local ATM machines with a foreign card, withdraw the maximum, doesn't make sense to pay 180 baht to get 5000!

Edited August 27, 2015 by jacko45k

[JimGant]

I'll let you continue to play with that "TT is ATM bone" you won't let go of...enjoy.

Pib, your patience in dealing with these "no nothings" is impressive.

[ThaiBob]

TT rate is the ATM rate. Funds converted via ATM are converted at the TT rate.

TT stands for Telegraphic Transfer which relates to the transfer of funds via wire/SWIFT/ACH/etc. While the TT rate is usually pretty close to the exchange rate provided by the card networks the exact exchange rate you get an an ATM when not doing an DCC transaction is listed at the Visa/Mastercard (card-network) exchange rate web pages. But sometimes you might see a difference up to the plus or minus 0.5% ballpark between the TT Buying Rate and Visa/Mastercard (ATM) rates. All depends on forex market volatility, approx 24 hour lag time between forex rates and Visa/Mastercard setting it rates for the next day whereas banks change their TT rates much more quickly...usually a couple times per day....sometimes a lot more, etc.

Below are the Visa and Mastercard exchange rate page links....please note on the Visa page if using a card issued by a European bank to use that sublink as the exchange rate will be a little different than the Visa exchange rate used for the rest of the world.

Visa: http://usa.visa.com/personal/card-benefits/travel/exchange-rate-calculator.jsp

Mastercard: https://www.mastercard.com/global/currencyconversion/index.html

http://daytodaydata.net/

To determine the current rate of exchange of your home currency to the Thai baht, you can check this web site which shows the rates offered by all major Thai banks/FOREX specialists.

Use the first drop down box to insert your home currency.

You can also check ATM rates (option TT), and Travellers Cheque rates (option cheque)

These rates are exactly what the banks listed are offering at this moment.

Once again, the TT rate is "not", repeat, "not" the ATM rate. You just won't let that bone go will you. Even the website link you gave clearly states in its note code at the top of the page, "For approximate ATM rates, Select TT Currency type" and then gives you the Visa and Mastercard exchange rate links so you can go get the exact ATM.

Additionally, TT Rates usually change numerous times during the day...all depends on the forex market volatility....but the Visa/Mastercard exchange stay the same for a 24 hour period except in a few extreme cases for some currencies. Do your ATM withdrawal at 1pm and it will be the same rate you get if doing another withdrawal at 5pm although Thai bank TT rates and their other rates such as Sight Bill, Notes, etc., may have changed several times over that 1 to 5pm time span.

The VISA link is broken for me. Anyone have a new link? Thanks!

[Jiu-Jitsu]

TT rate is the ATM rate. Funds converted via ATM are converted at the TT rate.

TT stands for Telegraphic Transfer which relates to the transfer of funds via wire/SWIFT/ACH/etc. While the TT rate is usually pretty close to the exchange rate provided by the card networks the exact exchange rate you get an an ATM when not doing an DCC transaction is listed at the Visa/Mastercard (card-network) exchange rate web pages. But sometimes you might see a difference up to the plus or minus 0.5% ballpark between the TT Buying Rate and Visa/Mastercard (ATM) rates. All depends on forex market volatility, approx 24 hour lag time between forex rates and Visa/Mastercard setting it rates for the next day whereas banks change their TT rates much more quickly...usually a couple times per day....sometimes a lot more, etc.

Below are the Visa and Mastercard exchange rate page links....please note on the Visa page if using a card issued by a European bank to use that sublink as the exchange rate will be a little different than the Visa exchange rate used for the rest of the world.

Visa: http://usa.visa.com/personal/card-benefits/travel/exchange-rate-calculator.jsp

Mastercard: https://www.mastercard.com/global/currencyconversion/index.html

http://daytodaydata.net/

To determine the current rate of exchange of your home currency to the Thai baht, you can check this web site which shows the rates offered by all major Thai banks/FOREX specialists.

Use the first drop down box to insert your home currency.

You can also check ATM rates (option TT), and Travellers Cheque rates (option cheque)

These rates are exactly what the banks listed are offering at this moment.

Once again, the TT rate is "not", repeat, "not" the ATM rate. You just won't let that bone go will you. Even the website link you gave clearly states in its note code at the top of the page, "For approximate ATM rates, Select TT Currency type" and then gives you the Visa and Mastercard exchange rate links so you can go get the exact ATM.

Additionally, TT Rates usually change numerous times during the day...all depends on the forex market volatility....but the Visa/Mastercard exchange stay the same for a 24 hour period except in a few extreme cases for some currencies. Do your ATM withdrawal at 1pm and it will be the same rate you get if doing another withdrawal at 5pm although Thai bank TT rates and their other rates such as Sight Bill, Notes, etc., may have changed several times over that 1 to 5pm time span.

The VISA link is broken for me. Anyone have a new link? Thanks!

USA: https://usa.visa.com/support/consumer/travel-support/exchange-rate-calculator.html

Europe: http://www.visaeurope.com/making-payments/exchange-rates

[Pib]

Yea, Visa updated their main web page...it's all different now. On there glorious new website I didn't even see an obvious sublink to the calculator as they had before (maybe it there and I just didn't see it)....I had to use the Search function on the Visa main page to find their exchange rate calculator weblink...as shown is Jiu-Jitusu's post above.

Edited September 25, 2015 by Pib

[ThaiBob]

Thanks guys!