ATM fees rise again

[guru]

It's easy, have a thai bank account.

It's not always that easy. I have money that I cannot access any other way... other than flying to that country and manually withdrawing it from my bank... or using a linked MasterCard debit card, which isn't much use when I need cash.

200 baht was inevitable and it is not surprising at all. It was the whole point of the 180 bridge between the initial 150 when they first introduced the fee several years ago and 200... softening the blow. I told my wife last week it probably won't be long before it is 200 baht.

This must have just happened as I took money out a few days ago at 180 baht.

Why would 180 baht be affordable and 200 baht not? I reduce the cost by taking 25,000 at a time, so 20 baht is insignificant. There used to be 40k ATM's, but 25k is the highest limit I can find now... most are 20k.

Krungsri (yellow atm) will let you take out 30k.

I've tried a number of yellow ATMs and never found one offering more than 20k. Did you score 30k with an international card? I've seen some Thai writing and "30,000" on some machines, but they only offered 20k. My card daily limit is around 40k.

Last week got 30k out of a bangkok Krungsri atm with a Thai card.

[Pib]

I use my foreign debit cards a couple times per month....I use TMB and Krungsri ATM here in Bangkok...they allow me to pull Bt30K per transaction (foreign card or Thai bank card).

[thailand49]

Some say what is the big deal it is only 20 baht, we are getting more due to the weakening, we can afford it. That is just warp thinking because if people few that way how would they feel if everything was paid depending on where you came from and your exchange rate. Big C, now have check out's for Americans, Brt, etc.. how would they feel then.

It's not warped thinking to say "what is the big deal it is only 20 baht". We don't have a choice, so it's sensible thinking. Why should we get worked up about something we have no control over? That would be warped IMO.

What surprises me is how you can say it is not warp thinking and what is the big deal when you continue to respond to this subject with me and others. Not only that you have a problem with reading and understanding what is being read. You are exactly the type I refer to about warp... after reading all these post you are stuck on 20 baht but what everyone is trying to say it is matter of principle.

Stressing about "matter of principle" and 20 baht price increases in a foreign country where you have absolutely no control is very warped. By the nature and length of your responses to opinions of others, I can see how worked up you can get over small matters. Take a chill pill and relax mate. The stress can ruin your health and you could end up spending your savings on trying to stay alive

r

Maybe you should take some of your own advice and look in the mirror hypocrite.. and stop worrying about how much you can withdraw at one time. The length is to try to explain to someone that obvious have the lights on but no one is home upstairs! Your responds is so typical of someone who hits a road block unable to justify their point.

[kiwikeith]

Well, about 20 years ago Siam commercial bank wanted to charge me 100 baht a year. I cancelled my cashpoint card and do all transactions face to face to this day

If you draw money from a THAI ATM from NZ you get slammed by both banks the NZ foreign transaction fees are worse.

Thai bank account is best.

If I transfer from NZ I transfer in NZ dollars which stops the thieves in NZ from ripping you another time with the exchange rate which is up to 2 BHT on the NZ banks side per dollar.

[csabo]

"Guess I will use other avenues to get my money."

What have you been waiting for?

[csabo]

Well, about 20 years ago Siam commercial bank wanted to charge me 100 baht a year. I cancelled my cashpoint card and do all transactions face to face to this day

Wow...100 bath per year....those shameless profiteers ! Is there no moral line they will not cross ?

555 and he spends a small fortune every year in gas driving to the bank. Whatta clown. I wanna read this nutjobs diary. "Dear dairy, today I found 25 satang coins just sitting on top of the coin operated washing machines for the taking. Has the world gone mad??? I'M RICH BI-ATCH!!

Edited November 9, 2015 by csabo

[gk10002000]

It's easy, have a thai bank account.

That works if you are employed here and generate cash for that account. or you have a stash in your mattress. But if you intend to transfer monies from your foreign account, there is also a transfer fee up front.

If one were in Thailand long term, and on say a proper visa such as retirement over 50, marriage, business, etc. one could get a Thai bank account. If one is there short term as a tourist, there shouldn't be a need to use the ATM much. Bring travel money with you.

[Naam]

In neighboring Laos, you will pay 20,000 kip ($2.50) for each 1,000,000 kip ($123.00) you withdraw.

So, now in Thailand, you are paying 200 baht ($5.72) for each 20,000 baht ($572.00) you withdraw. That is nearly half what you will pay in Laos.

Yes, it is high, but relatively low.

Good info mate but thought we were on about Thai banks?

no, we are on about Farangs who think services rendered should be free. next thing i know they want free haircuts, massages, noodle soups, beer, abolishment of bar fines and free accomodation

Those farangs should understand that they are only small fish, not big enough to be entitled to freebies such as free bailouts, do not go to jail cards, etc.

Come on Naam, you DO understand very well why there is so much bad feel against banksters, don't you?

Banks are the perfect illustration of what your compatriot Karl predicted in 1867: The abolition of the free market system.

i too hate banksters Maître. unfortunately they are a necessary evil and, especially in my case, impossible to avoid. they render a service for which i have to pay whether i like it or not.

not using their services to save on fees would be (repeat: in my case) utmost foolish. that's why i refrain from barking at the moon respectively whine and whinge in a forum but stick to wining plus once in a while une annotation sarcastique.

[roo860]

It's easy, have a thai bank account.

That works if you are employed here and generate cash for that account. or you have a stash in your mattress. But if you intend to transfer monies from your foreign account, there is also a transfer fee up front.

If one were in Thailand long term, and on say a proper visa such as retirement over 50, marriage, business, etc. one could get a Thai bank account. If one is there short term as a tourist, there shouldn't be a need to use the ATM much. Bring travel money with you.

A good idea for one!

[worgeordie]

You can just imagine,the heads from all the banks sitting around the table

discussing how much they think they could squeeze out of us,some might

have said ,make it 250THB, they have no choice,they will have to pay it,

then others,no thats a bit too much,for the work involved,just charge

200 THB, next year we can up it to 250 THB, Banking cartels,we are

only pawns in their game..Bastards.

regards worgeordie

[WhamBam]

Lucky for me I use the FX BOOTH and get better rates than posted by the bank.

No more ATM fees

[hawker9000]

It's easy, have a thai bank account.

That works if you are employed here and generate cash for that account. or you have a stash in your mattress. But if you intend to transfer monies from your foreign account, there is also a transfer fee up front.

Nope. Untrue. Have been making transfers to my Kbank account for years. No fees on either end as a matter of fact. I'd be getting a better exchange rate if I were hand-carrying cash and exchanging it at a TT window somewhere, but I'm not paying any fees.

[lopburi3]

Can you provide the date/time of transfer and the amount sent in foreign currency and the amount credited in baht to your Thai account to be sure? AFAIK the .25% in range 200-500 is charged on all wire transfer (TT) deposits from foreign accounts but it may not be seen as is just less baht deposited. Do understand there is no fee on cash exchange - but cash is not telex transfer (tt).

[tropo]

r

Maybe you should take some of your own advice and look in the mirror hypocrite.. and stop worrying about how much you can withdraw at one time. The length is to try to explain to someone that obvious have the lights on but no one is home upstairs! Your responds is so typical of someone who hits a road block unable to justify their point.

Your main issue is that you can't handle anyone disagreeing with you. When I don't agree with you, you attack - by suggesting I'm reading challenged. Now you're suggesting I'm a hypocrite. Perhaps you can read, but you seem to have have a problem understanding what you've read.

Earlier you were suggesting that anyone who accepts the new fee is "warped"... which means that I'm warped as I'm accepting the new fee sans stress.

I minimize the fee percentage by maximizing my withdrawal amounts. That's pretty basic economic commonsense. I'm not stressing about the 20 baht fee increase as there's nothing I can do about it. There's nothing hypocritical about what I'm saying here as they're unrelated issues. One I can control (my withdrawal amount), the other I cannot (the fee increase).

Just in case you still don't understand me... I don't stress over a 20 baht fee increase on a 25 - 30k withdrawal. This doesn't mean I would like to pay 200 baht per 1000 withdrawal, for example.

FYI, hurry down to a TMB ATM near you. It was still 180 baht in Pattaya at 8pm last night (Royal Garden Plaza - ground floor near McDonalds) ... perhaps it's the same everywhere.

[tropo]

You can just imagine,the heads from all the banks sitting around the table

discussing how much they think they could squeeze out of us,some might

have said ,make it 250THB, they have no choice,they will have to pay it,

then others,no thats a bit too much,for the work involved,just charge

200 THB, next year we can up it to 250 THB, Banking cartels,we are

only pawns in their game..Bastards.

regards worgeordie

You're lucky you don't live in Australia mate. The banks there are absolute thieves when it comes to exchange rates and other fees. It no coincidence that Australian banks are the most profitable banks in the world.

[Chivas]

Brit guys really should be using the Revolut Card to minimise overall ATM Costs. Cant get around the 150/180 or new 200 Baht charge but you can avoid the foreign transaction fees and get full Interbank rate to boot.

Really taking off now I understand and rightly so.

Several others have done back to back withdrawals using Halifax Clarity and then Revolut and as expected bottom line is cheaper with Revolut

Edited November 9, 2015 by Chivas

[PattayaClub]

It's easy, have a thai bank account.

That works if you are employed here and generate cash for that account. or you have a stash in your mattress. But if you intend to transfer monies from your foreign account, there is also a transfer fee up front.

There is no fee if you wlk into the thai bank and do an over-the-counter cash advance with a debit card drawing on a foreign account.

[chiang mai]

It's easy, have a thai bank account.

That works if you are employed here and generate cash for that account. or you have a stash in your mattress. But if you intend to transfer monies from your foreign account, there is also a transfer fee up front.

There is no fee if you wlk into the thai bank and do an over-the-counter cash advance with a debit card drawing on a foreign account.

Except your home bank will charge you a foreign currency transaction fee.

[stament]

Getting pretty crazy...so I only use an ATM as a last resort.

Tourists are getting double priced, and gouged every which way.

I use XE foreign exchange purchase and have the baht wired here. There are cheaper ways, but this only cost me 21 usd for 3 months worth of baht.....and I get to choose when I want to buy (perhaps wait for a good rate). Can lock in that rate and afford the 7 day transfer. Trick is to always plan ahead, so that atm card never needs to be used.

For my own reasons...I don't want to go direct deposit to a foreign bank.

Someone was telling me the other day about the xe service, can anyone give any feedback on it and any tips please? Do you get the rate they show on the converter?

[stament]

It's easy, have a thai bank account.

That works if you are employed here and generate cash for that account. or you have a stash in your mattress. But if you intend to transfer monies from your foreign account, there is also a transfer fee up front.

There is no fee if you wlk into the thai bank and do an over-the-counter cash advance with a debit card drawing on a foreign account.

Just goes to show their pricing models don't reflect reality as manual over the counter transactions are more expensive than machine STP. Looks like they are trying to maximise revenue which I suspect they are, as more people transact through ATMs than going into branches. In that respect very clever, most western banks are trying to reduce manual transactions due to the high cost.

[WorkingTourist]

Just goes to show their pricing models don't reflect reality as manual over the counter transactions are more expensive than machine STP.

That can be said about a lot. Things cost what people are willing to pay. When you use an ATM you pay for convenience: 20 or so years ago you would have to go to your local bank before you left your country and exchange money for your entire trip or bring travellers’ checks, today you can withdraw local currency pretty much anywhere at whatever time of day.

Looks like they are trying to maximise revenue which I suspect they are, as more people transact through ATMs than going into branches. In that respect very clever, most western banks are trying to reduce manual transactions due to the high cost.

And most Western banks also have all sorts of fees on things that used to be free or should be near zero cost due to technology.

In the West I pay far more for banking than I did 20 years ago, yet I practically never go to a physical branch, when in the past, I would go there for everything.

Edit: Several things in my Thai bank also has a fee if I do it in the branch, but I can do it for free online or via their teller machine outside the branch. So definitely their pricing structure is also setup to (mostly) discourage going to the branch. That there is no fee for withdrawing on a foreign credit card (in the branch) is actually somewhat puzzling. Perhaps it has something to do with VISA/Mastercard rules?

Edited November 10, 2015 by WorkingTourist

[stament]

I fully agree with your post, just pointing out differences. UK branches have a lot less staff now and more machines that deal with deposits, etc.

I don't get charged anything for my UK current account unless I go overdrawn or use payable services such as bankers drafts, TTs, etc. Now business bank accounts thats a different matter!

One personal gripe of mine about Thai banks is getting charged to withdraw or deposit from your own bank just because you are mot in the same region where your branch is located. Paying in and getting charged for the privilege I mean come on! They are earning money on our deposits and charge us the privilege.

One good thing though is that bank drafts or cheques mot sure which they raise to be fair, are cheap. only about 50baht whereas from memory in the UK this was about 20 quid plus.

Like everything there are pros and cons to all things when comparing, and the customer has to make sure he consumes services at a price he is comfortable with or else change his channel or choice.

I bring USD over now and go to Superrich but also transfer from my HSBC account, bit of both.

[thailand49]

r

Maybe you should take some of your own advice and look in the mirror hypocrite.. and stop worrying about how much you can withdraw at one time. The length is to try to explain to someone that obvious have the lights on but no one is home upstairs! Your responds is so typical of someone who hits a road block unable to justify their point.

Your main issue is that you can't handle anyone disagreeing with you. When I don't agree with you, you attack - by suggesting I'm reading challenged. Now you're suggesting I'm a hypocrite. Perhaps you can read, but you seem to have have a problem understanding what you've read.

Earlier you were suggesting that anyone who accepts the new fee is "warped"... which means that I'm warped as I'm accepting the new fee sans stress.

I minimize the fee percentage by maximizing my withdrawal amounts. That's pretty basic economic commonsense. I'm not stressing about the 20 baht fee increase as there's nothing I can do about it. There's nothing hypocritical about what I'm saying here as they're unrelated issues. One I can control (my withdrawal amount), the other I cannot (the fee increase).

Just in case you still don't understand me... I don't stress over a 20 baht fee increase on a 25 - 30k withdrawal. This doesn't mean I would like to pay 200 baht per 1000 withdrawal, for example.

FYI, hurry down to a TMB ATM near you. It was still 180 baht in Pattaya at 8pm last night (Royal Garden Plaza - ground floor near McDonalds) ... perhaps it's the same everywhere.

Hey, bud don't get so stress out on things! take a chill pill! take a deep breath! I know you just want to be right and go on and on because posting is the only way for you to talk to people because no one wants to be your friend. You just prove you can't comprehend... I did not use the word " warp " in the content to someone who accept the fee is warped. I responded to the remark " 20 baht what is the big deal " that these people in GENERAL who think like this normally get upset if they have to pay 5 baht more for their favorite beer that their thinking is inconsistent with the " 20 baht no big deal remark "

I responded to this thread I have expressed my feeling regarding the increase because I feel the Thai bank balance sheets do not justify the increase and are out of line with the rest of the International community which Thailand has ask to be part of... it is not being right I'm just trying to respond to you and everyone by justifying my opinion on the increase.

It never surprise me how people like to throw darts and then do exactly the same thing. Isn't that what your responses have been all about you didn't like or agree on the word I use " Warp " isn't that how it started. I do not like the increase and I've already said why but I do not stress out on the it because reality is when I need to get emergency money I got to pay the piper! Excepting thing you do not like is part of life but it does not mean one can't express the dislike.

Let's end here. You have responded to another one of my post on another subject I believe and we disagree again? So let's do both ourselves a favor and others to end to agree to disagree. Do whatever you need to do hold you tongue whenever you see me post or find a way to ignore.

Edited November 10, 2015 by thailand49

[Maestro]

The transfer fee from HSBC UK is GBP 4 per transaction, the receiving charge is typically under THB 500, there are no intermediary charges. Cost effective enough if done say twice a year and reliant thereafter on local Thai banks.

Whether there are intermediary charges depends on what bank you use in Thailand, ie whether your Thai bank is a correspondent bank of your foreign bank.

[Berkshire]

Just goes to show their pricing models don't reflect reality as manual over the counter transactions are more expensive than machine STP.

That can be said about a lot. Things cost what people are willing to pay. When you use an ATM you pay for convenience: 20 or so years ago you would have to go to your local bank before you left your country and exchange money for your entire trip or bring travellers’ checks, today you can withdraw local currency pretty much anywhere at whatever time of day.

Agree. I was just talking with a friend about how it was years ago without ATMs, having to visit a bank just to get cash. It's amazingly convenient now, so the small fee is appropriate. But I don't pay any fee if using my bank's ATM here in Thailand. It's the same in the US if one uses an ATM which is not your own bank, with fees ranging wildly. I would imagine international transactions would have even more fees. So I don't get the complaints here. Banking in Thailand is similar to the west, so not sure what people are comparing against.

[Pib]

When Thai bank charge the Bt200 ATM use fee that is not the only fee they are making off the transaction. They are also earning a card network fee which your card-issuing bank pays to them. Below is a cut and paste identifying that Visa card fee (the fee structure for a Mastercard and European bank issued Visa card is very, very similar...just minor differences).

OK using above fee charge lets say you withdrawal Bt25K from a Thai bank ATM. Upfront they get the Bt200 foreign card ATM fee from you---that is purely the local bank ATM fee...whatever they desire to charge. And then they will receiving another $0.50 + 0.15% which when converted to baht at 35.5 baht/USD would be approx Bt18 + Bt37 = Bt55.

So, they are actually making approx Bt255 (Bt200 + Bt55) or $7.18 on each Bt25K ATM withdrawal.

P.S. When you do a Bt25K counter withdrawal there is no Bt200 ATM fee but then they earn a manual cash disbursement fee of $1.75 (Bt62) + 0.33% (Bt82) for a total of Bt144 ($4.05 ) in comparison to Bt255 (7.18) when doing the withdrawal via ATM. Yes, sir, they are making a killing with the additive Bt200 ATM fee. Banksters they are...and they know it.

[tropo]

Hey, bud don't get so stress out on things! take a chill pill! take a deep breath! I know you just want to be right and go on and on because posting is the only way for you to talk to people because no one wants to be your friend. You just prove you can't comprehend... I did not use the word " warp " in the content to someone who accept the fee is warped. I responded to the remark " 20 baht what is the big deal " that these people in GENERAL who think like this normally get upset if they have to pay 5 baht more for their favorite beer that their thinking is inconsistent with the " 20 baht no big deal remark "

I responded to this thread I have expressed my feeling regarding the increase because I feel the Thai bank balance sheets do not justify the increase and are out of line with the rest of the International community which Thailand has ask to be part of... it is not being right I'm just trying to respond to you and everyone by justifying my opinion on the increase.

It never surprise me how people like to throw darts and then do exactly the same thing. Isn't that what your responses have been all about you didn't like or agree on the word I use " Warp " isn't that how it started. I do not like the increase and I've already said why but I do not stress out on the it because reality is when I need to get emergency money I got to pay the piper! Excepting thing you do not like is part of life but it does not mean one can't express the dislike.

Let's end here. You have responded to another one of my post on another subject I believe and we disagree again? So let's do both ourselves a favor and others to end to agree to disagree. Do whatever you need to do hold you tongue whenever you see me post or find a way to ignore.

LOL Now it's "no one wants to be my friend"... and you're upset over a disagreement on another thread, which I've long forgotten. You can end it whenever you like. All you need to do is resist hitting the "add reply" button.

[chiang mai]

The transfer fee from HSBC UK is GBP 4 per transaction, the receiving charge is typically under THB 500, there are no intermediary charges. Cost effective enough if done say twice a year and reliant thereafter on local Thai banks.

Whether there are intermediary charges depends on what bank you use in Thailand, ie whether your Thai bank is a correspondent bank of your foreign bank.

In the case I cited, HSBC UK, there is no intermediary.

[Jonmarleesco]

However you view it, that represents a total increase in local ATM fees for foreign cards of 33% within the space of less than two years. Nowhere near the government's inflation rate, and hardly conducive to its tourist campaigns, given those are the people who will be most affected. Pure profiteering. But for expats - and some of us do need to bring in money from overseas - the tried and tested electronic transfer is much the better option.

[hawker9000]

Can you provide the date/time of transfer and the amount sent in foreign currency and the amount credited in baht to your Thai account to be sure? AFAIK the .25% in range 200-500 is charged on all wire transfer (TT) deposits from foreign accounts but it may not be seen as is just less baht deposited. Do understand there is no fee on cash exchange - but cash is not telex transfer (tt).

Not sure who this is addressed to, but I can prove that the amount arriving in my Kbank account corresponds exactly to the posted exchange rate. I don't check this on every transfer anymore, but used to. No fees, just not the best possible exchange rate. (Note: my xfrs are usually in the $2-3000 range, so larger amounts might fetch a better rate.) Also, financial institutions executing such transfers from the U.S. are required by Dodd-Frank rules to inquire of the receiving foreign bank and then report to the customer any such fees (as well as their own, of course). Unless Kbank is lying to them, they're reporting no fees.