JESSVANPELT Posted January 16, 2016 Share Posted January 16, 2016 I'am looking to find the best bank to use my ATM card from Out of Country. I see that most of the machines give you about one full baht less then an actual currency exchange. I need to withdraw an amount larger then the machines will allow and I don't want to do several transactions and ring up a lot of fee's. So I was told if i take my passport with my Atom card to any bank they will let me take out as much as my card will allow? My question is ? Which bank will give the best rate ? Thanks in advance Link to comment Share on other sites More sharing options...
KMartinHandyman Posted January 16, 2016 Share Posted January 16, 2016 I had no luck getting Bangkok Bank to do a debit card counter withdrawal (to avoid fees on multiple withdrawals to get a large sum). I think they would do a credit card cash advance if I remember but that wasn't what I was interested in. You may need to narrow down what banks if any will do a counter debit first then worry about exchange rate. I've learned its best to bring plenty of USD and then look for the best currency exchange rates. Link to comment Share on other sites More sharing options...
KhunBENQ Posted January 16, 2016 Share Posted January 16, 2016 (edited) Make sure that you are debited in Thai Baht and not in your home currency (avoid "DCC"). Being debited in your currency gives a very bad rate. The rate is then determined by the ATM operating Thai bank. In the normal case (debit in Thai Baht) the exchange rate is determined by the CC organization/the card issuing bank. Rate will be the same at all ATMs. So just look for an ATM that allows the highest amount per transaction. Krungsri allows 30k Baht per transaction. I had no luck getting Bangkok Bank to do a debit card counter withdrawal (to avoid fees on multiple withdrawals to get a large sum). I think they would do a credit card cash advance if I remember but that wasn't what I was interested in.You may need to narrow down what banks if any will do a counter debit first then worry about exchange rate.I've learned its best to bring plenty of USD and then look for the best currency exchange rates. Good advice and leading the ever repeated "go to counter" tip ad absurdum. If you use a credit card it will be treated as a cash advance and result in a significant interest. Some people really believe that a transaction at the counter with all the effort involved would save you money compared to an ATM self service Also absurd but true: cash exchange beats ATM and transfer (at least for USD, EUR). I have compared this often enough. (just that you have to look for a good exchange specialist/booth, avoid banks) Edited January 16, 2016 by KhunBENQ Link to comment Share on other sites More sharing options...
DogNo1 Posted January 16, 2016 Share Posted January 16, 2016 The cash exchange rate doesn't beat my OTC cash advance on my credit card at Bangkok Bank. There are zero fees and the rate is always higher than any cash exchange. Link to comment Share on other sites More sharing options...
JESSVANPELT Posted January 16, 2016 Author Share Posted January 16, 2016 I had no luck getting Bangkok Bank to do a debit card counter withdrawal (to avoid fees on multiple withdrawals to get a large sum). I think they would do a credit card cash advance if I remember but that wasn't what I was interested in. You may need to narrow down what banks if any will do a counter debit first then worry about exchange rate. I've learned its best to bring plenty of USD and then look for the best currency exchange rates. its pension money and issued monthly to my USA bank account, and I I've here. Link to comment Share on other sites More sharing options...
KMartinHandyman Posted January 16, 2016 Share Posted January 16, 2016 ACH it from your current bank to Bangkok Bank branch in New York then have it transferred to a Thailand Bangkok Bank branch or change banks to Citibank which has no fees is what I have read. Link to comment Share on other sites More sharing options...
Langsuan Man Posted January 17, 2016 Share Posted January 17, 2016 ACH it from your current bank to Bangkok Bank branch in New York then have it transferred to a Thailand Bangkok Bank branch or change banks to Citibank which has no fees is what I have read. If you have it sent to Bangkok Bank branch in New York it will automatically transfer to your Thai Bangkok Bank account If you don't mind driving all the way to Bangkok from Pattaya to get to a "free" Citibank ATM follow the second suggestion It has been reported by those who really know ATM rates and fees that Visa branded ATM cards usually give a better rate than Master Card branded cards Link to comment Share on other sites More sharing options...
metisdead Posted January 17, 2016 Share Posted January 17, 2016 A post using ALL CAPS has been removed, please turn of your Caps Lock button when posting. This includes using ALL CAPS in topic titles, topic title edited to remove ALL CAPS. Link to comment Share on other sites More sharing options...
gk10002000 Posted January 17, 2016 Share Posted January 17, 2016 i always observed atm withdrawal rates to be as good if not better than any cash exchange rate although it was close and given the latest increase in withdrawal fees, makes things closer. Look for the machines that allow 30 k baht withdrawal versus more standard 20k. For a more long term solution, see the threads and ideas about using Bangkok Bank, and other things Link to comment Share on other sites More sharing options...
JESSVANPELT Posted January 17, 2016 Author Share Posted January 17, 2016 i always observed atm withdrawal rates to be as good if not better than any cash exchange rate although it was close and given the latest increase in withdrawal fees, makes things closer. Look for the machines that allow 30 k baht withdrawal versus more standard 20k. For a more long term solution, see the threads and ideas about using Bangkok Bank, and other things every machine i have checked is offering one full baht lower then what the good money exchange places offer, so if you know of a better one please advise ...thansk Link to comment Share on other sites More sharing options...
JESSVANPELT Posted January 17, 2016 Author Share Posted January 17, 2016 ACH it from your current bank to Bangkok Bank branch in New York then have it transferred to a Thailand Bangkok Bank branch or change banks to Citibank which has no fees is what I have read. So then i have to pay fees for my bank to transfer it to Bangkok bank N.Y and possibly another fee to get it moved from new york to Thailand? Link to comment Share on other sites More sharing options...
KhunBENQ Posted January 17, 2016 Share Posted January 17, 2016 (edited) For the Dollar it is very close (assuming 0 fees). Just compared yesterdays rates. VISA USA 36.26 Best cash rate in Bangkok 36.28 But don't forget that cash is always free of fees. For the EUR cash exchange has a slightly better margin. VISA US: https://usa.visa.com/support/consumer/travel-support/exchange-rate-calculator.html/ VISA Europe: https://www.visaeurope.com/making-payments/exchange-rates Thailand exchange rates: http://daytodaydata.net/ Edited January 17, 2016 by KhunBENQ Link to comment Share on other sites More sharing options...
KhunBENQ Posted January 17, 2016 Share Posted January 17, 2016 The cash exchange rate doesn't beat my OTC cash advance on my credit card at Bangkok Bank. There are zero fees and the rate is always higher than any cash exchange. And you don't pay interest for cash advance? Link to comment Share on other sites More sharing options...
Tolley Posted January 17, 2016 Share Posted January 17, 2016 From what I have seen all the banks screw when you use a foreign ATM card in Thailand. You pay for the ATM transaction 180baht and then the rate is lower and if I am not wrong there is also a foreign currency conversion fee of 2.5percent. I think all up the best way is to open a thai bank account and then find the most cost effective method of doing an international transfer maybe using forex or moneygram or someone that doesn't charge too much and/or gouge you on the fees. You can also go into the banks in Patts with passport and withdraw more than the ATM limit. I have done numerous times. I come and go so much that I usually bring large wads of cash with me in high demonination bills because I hate paying all those bank fees. Link to comment Share on other sites More sharing options...
JESSVANPELT Posted January 17, 2016 Author Share Posted January 17, 2016 For the Dollar it is very close (assuming 0 fees). Just compared yesterdays rates. VISA USA 36.26 Best cash rate in Bangkok 36.28 But don't forget that cash is always free of fees. For the EUR cash exchange has a slightly better margin. VISA US: https://usa.visa.com/support/consumer/travel-support/exchange-rate-calculator.html/ VISA Europe: https://www.visaeurope.com/making-payments/exchange-rates Thailand exchange rates: http://daytodaydata.net/ I 'm not using a credit card Link to comment Share on other sites More sharing options...
Langsuan Man Posted January 17, 2016 Share Posted January 17, 2016 ACH it from your current bank to Bangkok Bank branch in New York then have it transferred to a Thailand Bangkok Bank branch or change banks to Citibank which has no fees is what I have read. So then i have to pay fees for my bank to transfer it to Bangkok bank N.Y and possibly another fee to get it moved from new york to Thailand? If you are paying your US bank a fee for an EFTS transfer to Bangkok Banks NY branch via their domestic routing number then it is time to get a new US bank Yes you, will have to pay a fee, depending the amount you transfer but you will be getting the TT rate, which if you look at any of the bank exchange rates you will find that it is the most favorable source: http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUSA/Pages/ReceivingFundsfromUSA.aspx Link to comment Share on other sites More sharing options...
JESSVANPELT Posted January 17, 2016 Author Share Posted January 17, 2016 Thanks everyone so much for your assistance. I got as lot of new ideas and almost the answer to my original question Link to comment Share on other sites More sharing options...
willyumcr Posted January 17, 2016 Share Posted January 17, 2016 Put your money in a Charles Schwab bank in states and use ATM here. No fees whatsoever. Schwab reimburses you the 200baht ATM fee here at end of month. Dangerous bringing cash here to save fees. Link to comment Share on other sites More sharing options...
ThaiBob Posted January 17, 2016 Share Posted January 17, 2016 Just completed an ATM withdrawal using my Schwab VISA PLUS card. The rate was 36.26 and as another poster noted the 200 baht bank fee will be reimbursed at the end of month. The TMB ATM in front of VT2 allows a pull of 30,000 baht. Link to comment Share on other sites More sharing options...
KhunBENQ Posted January 17, 2016 Share Posted January 17, 2016 Just completed an ATM withdrawal using my Schwab VISA PLUS card. The rate was 36.26 and as another poster noted the 200 baht bank fee will be reimbursed at the end of month. The TMB ATM in front of VT2 allows a pull of 30,000 baht. And 36.26 is the rate that you find at the VISA USA site for today. 1 Thai Baht = 0.027576 United States Dollar 1 / 0.027576 = 36.2634..... Same rate at all ATMs. TMB ATM in front of VT2 allows a pull of 30,000 baht. All TMB and Krungsri (Bank of Ayuthaya) allow 30k. There is at least one more with 30k. Forgot the name. Link to comment Share on other sites More sharing options...
Ireland32 Posted January 17, 2016 Share Posted January 17, 2016 From what I have seen all the banks screw when you use a foreign ATM card in Thailand. You pay for the ATM transaction 180baht and then the rate is lower and if I am not wrong there is also a foreign currency conversion fee of 2.5percent. I think all up the best way is to open a thai bank account and then find the most cost effective method of doing an international transfer maybe using forex or moneygram or someone that doesn't charge too much and/or gouge you on the fees. You can also go into the banks in Patts with passport and withdraw more than the ATM limit. I have done numerous times. I come and go so much that I usually bring large wads of cash with me in high demonination bills because I hate paying all those bank fees. 200 baht , Now Link to comment Share on other sites More sharing options...
Bear78 Posted January 17, 2016 Share Posted January 17, 2016 5 400 000 000... 200bath X 27 000 000 tourist in 2016 .. just for exemple.. 1 time at ATM i think real income for TH -bank-goverment is 10 times more ..50 billion bath just from lazy tax on atm.. (but we need real numbers) not many countries that have so great income from relativ low cost month pay- income for thai people Link to comment Share on other sites More sharing options...
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