Costing too much to withdraw money from ATM!

[NoshowJones]

Have you considered walking into the bank and making a withdrawal from a real living teller?

No ATM fees inside!

I tried a few times- they tell you to use the ATM outside

Yes, in my experience that is true, but usually at the small branches, go to a main branch in a shopping mall in a city.

I do it regularly that way with no problem.

[Bill Miller]

I opened a passbook savings account with Bangkok Bank. Needed an affidavit from my (US) embassy to do so at a cost of $50 for the notary service. Additional 300 baht for the chip encrypted ATM/Debit card, of which 200 baht is the annual fee.
The advantage is that there are apparently no or minimal withdrawal fees if you use BB ATMs, of which there are 10,000+. My "home" bank allows funds transfers to the Bangkok Bank's New York branch at no charge, or $3.00 for expedited next day service, otherwise a three business day transaction period.
I think there is a conversion fee, but have not figured out what it is so far. It seems to be pretty nominal.
Altogether much cheaper then the multiple fees for using my US bank ATM cards. I may arrange for direct deposit of some income funds to the BB branch.

[NoshowJones]

Have you considered walking into the bank and making a withdrawal from a real living teller?

No ATM fees inside!

I tried a few times- they tell you to use the ATM outside

What has been described in other threads.

At the counter with a debit card: no thanks.

With a credit card: maybe, thank you and pay at home (interest for cash advance, exchange fee etc.).

Thai banks are not that stupid to offer for free what costs 200 Baht at the ATM.

Thai banks are not that stupid to offer for free what costs 200 Baht at the ATM.

I do it regularly with my UK debit card, but not at a bank in a small town or village.

[ThaiKneeTim]

Approximately

16 GBP * 50 = 800 Baht

200 of these 800 is the ATM fee by the Thai bank (4 GPB).

The remaining 600 is obviously lost at the card issuing bank in the UK.

The 200 Baht fee is per transaction.

So don't do these small withdrawals but do 25000 or 30000 Baht at once with the same fee.

Bangkok Bank allows 25k, Krungsri allows 30k per transaction.

The other banks that allow 30k? Forgot. It's in other threads.

What the components of the quite high fee in the UK is? I don't know.

Many banks charge a brazen percentage of the sum as "exchange fee" (like 1.75% or 2%).

2% of 200 GBP is 4 GPB. Still quite a gap.

Maybe your bank also add a fixed fee per transaction.

Again: do bigger withdrawls.

If you give details (what bank, what card) some UK members might tell you more.

Yes you're right, UK bank charges fixed dee for foreign transaction and a percentage charge, which is why I avoid it now. A few years back Nationwide Bank waived the fees, but I assume they could no longer absorb the charges levied by the agencies involved.

I use the Thai girlfriends account to transfer a monthly sum via Western Union, the cheapest method I've found so far, just £4.90 per transaction, usually around £1000 per month.

[NoshowJones]

I think it is unfair to refer to Thailand as the Land of Scams, but they definitely are where banks are concerned.

Go to a tourist part of any country and you will come up against the scam artists.

[ThaiKneeTim]

Nationwide Bank in the UK has a debit card that does not make any charges for foreign withdrawals. I have their credit card also and it is the same - used to have Barclaycard and was horrified at the percentage they added to my purchases. Would definitely recommend you check out Nationwide.

They started to charge again around 2008 so I haven't used mine since!

I'll have to look into it as a reserve method of withdrawal if that's the case!

[laolover88]

Have been round all this for many years! At present the best option is to open an account with a company like UK Forex and have them send money to the Thai Bank account you have opened. UK Forex charges a fraction of what a UK Bank or Moneygram charges to transfer money. Generally speaking you would never exchange GBP for Thai Baht in the UK, but the UK Forex exchange rate is better than the rate quoted for instance by KBank. Make sure the Thai bank account is in the town here you live, otherwise you will incur "Out of Jangwat" withdrawal charges. The other thing to watch is that when you send money there is often a clause" expenses to be incurred by payee or not". Even if you elect to pay the charges in the UK the Thai bank will try to make a charge! You can take almost unlimited sums out of a Thai ATM. It is the UK banks that impose a limit on most of their customers. NEVER use a Credit Card to withdraw cash unless you are desperate. I still think Nationwide is, in spite of some mis-selling problems. the only UK financial institution of any reputability.

[Nomad56]

Nationwide Bank in the UK has a debit card that does not make any charges for foreign withdrawals. I have their credit card also and it is the same - used to have Barclaycard and was horrified at the percentage they added to my purchases. Would definitely recommend you check out Nationwide.

Is this Dabit card you refer to a FlexPluc card? If so it has a standing charge of £10:00/month. I which case it is not Free. The Flexacount Debit card charges 2% of the amount withdrawn plus £1:00. Plus you pay the 200Bht Thai bank charge. I am not aware of any other Nationwide Debit card, perhaps you can enlighten me?

You are correct, it is not strictly 'free' but the fee includes mobile phone insurance, holiday insurance and breakdown insurance I think and the account also pays interest so I make sure that I keep a balance in the account to earn the interest which offsets the monthly fee - not completely but it more than makes sense, for me, because of the various charges that were levied when making ATM withdrawals abroad. As someone else has said, I also use the teller at my local Krungskri (if I can be bothered with the extra time it takes) so I don't get charged the Bt 200.

[mesterm]

Approximately

16 GBP * 50 = 800 Baht

200 of these 800 is the ATM fee by the Thai bank (4 GPB).

The remaining 600 is obviously lost at the card issuing bank in the UK.

The 200 Baht fee is per transaction.

So don't do these small withdrawals but do 25000 or 30000 Baht at once with the same fee.

Bangkok Bank allows 25k, Krungsri allows 30k per transaction.

The other banks that allow 30k? Forgot. It's in other threads.

What the components of the quite high fee in the UK is? I don't know.

Many banks charge a brazen percentage of the sum as "exchange fee" (like 1.75% or 2%).

2% of 200 GBP is 4 GPB. Still quite a gap.

Maybe your bank also add a fixed fee per transaction.

Again: do bigger withdrawls.

If you give details (what bank, what card) some UK members might tell you more.

Krungsri allows 30k per transaction? Every time I try that option it doesn't work, and I have to withdraw in 10k sequences.

And correct me if I'm wrong, but I've noticed Krungsri seems to give the best exchange rate as far as ATMs go.

[Nomad56]

Nationwide Bank in the UK has a debit card that does not make any charges for foreign withdrawals. I have their credit card also and it is the same - used to have Barclaycard and was horrified at the percentage they added to my purchases. Would definitely recommend you check out Nationwide.

They started to charge again around 2008 so I haven't used mine since!

I'll have to look into it as a reserve method of withdrawal if that's the case!

I love your name, very funny! I suggested this option for someone who only comes here for part of the year because there is a fee for the card that offers this benefit, but it also offers other benefits which make it more than pay for itself for a UK resident, including interest on the account. I am actually over here for a year this time, and still use it because I want to keep my money in England and have the facility to withdraw it whether I am here or Cambodia, or Laos etc, without any problems and this card does that for me without charging 2% on each withdrawal.

[KhunBENQ]

Approximately

16 GBP * 50 = 800 Baht

200 of these 800 is the ATM fee by the Thai bank (4 GPB).

The remaining 600 is obviously lost at the card issuing bank in the UK.

The 200 Baht fee is per transaction.

So don't do these small withdrawals but do 25000 or 30000 Baht at once with the same fee.

Bangkok Bank allows 25k, Krungsri allows 30k per transaction.

The other banks that allow 30k? Forgot. It's in other threads.

What the components of the quite high fee in the UK is? I don't know.

Many banks charge a brazen percentage of the sum as "exchange fee" (like 1.75% or 2%).

2% of 200 GBP is 4 GPB. Still quite a gap.

Maybe your bank also add a fixed fee per transaction.

Again: do bigger withdrawls.

If you give details (what bank, what card) some UK members might tell you more.

Krungsri allows 30k per transaction? Every time I try that option it doesn't work, and I have to withdraw in 10k sequences.

And correct me if I'm wrong, but I've noticed Krungsri seems to give the best exchange rate as far as ATMs go.

Again: that is a problem/limit of the card. The smallest ATM limit is 20k at most banks, 25k at Bangkok, 30k at Krungsri, TMB, ...

You have to check with your bank.

Exchange rates for withdrawals in Thai Baht are determined by the card issuing bank/organization (VISA, MC etc.) and are identical at all ATMs.

(completely different from cash exchange where there are big differences)

Just never use "DCC" offered at some ATMs where you are charged in your home currency and the ATM operating Thai bank determines the rate.

Terrible rates which ridicule the "no fee" advert (the rates are much worse than shown for cash exchange).

Select the option to be charged in Thai Baht or cancel the process.

Edited March 8, 2016 by KhunBENQ

[robertson468]

The 200 Baht fee is per transaction.

So don't do these small withdrawals but do 25000 or 30000 Baht at once with the same fee.

Bangkok Bank allows 25k, Krungsri allows 30k per transaction.

The other banks that allow 30k? Forgot. It's in other threads.

TMB? (30K on international withdrawals).

BTW. Krugsri have a 10k limit on certain cards.

That is as it might be, but I think the main issue is that UK Banks put a limit on ATM withdrawals. I used to be able to get only 10,000 baht a go, until I contacted my UK Bank who said they were happy to increase the permitted amount and to what level did I want to raise it? Can now withdraw 25,000 baht per time.......happy, happy and my Bank also does not charge for ATM Foreign Transaction Fee, although I am sure they make up for it on the conversion rate!

[misterphil]

Go to a money exchange counter with your Debit or Visa card and passport. You can get up to 25,000 baht each and everytime until your UK cash runs out.

Its seen as an overseas transaction and not withdrawing funds.

If your using your credit card load it up with cash from your current account before hand to avoid any interest charges.

Ive done this many times before in the past.

The only thing I dont like about it is some young girl in a kiosk has all your personal details. Try not to give your UK address though.

[fekman]

How did the fees go from 150-180-200 in two years???? 33% seems to be about 19x the rate of inflation here over the same period. And aren't there any anti-trust laws here? How can they all suspiciously go up the same amount in tandem? Seems like price fixing.

.

Why doesn't one bank offer it for 150 and eventually steal about 80% of all the expat transactions. That would seem logical. Logic seems to be in short supply here.

[Ulic]

i travel often in foreign country, and thailand is the only country in the world, where it cost one arm to withdraw money at the atm. Its insanely too much expensive, thats simply extortion!

Kenya, you can only withdraw 20,000 Kenyan shillings at a time (about 200 Canadian dollars) and

their is a 5 dollar charge on each end (10 $). In Thailand 30,000 (1,200 Can) and the charges

amounts to about (12 $) Also when exchanging US cash in Kenya when I was last there they did

not accept US currency older than 2003. By now it may be the new $100 bill only. (no writing,

perfect condition)

Edited March 8, 2016 by Ulic

[JMWPACIFIC]

Bring pounds with you or open a savings account.

[soc]

Quite simply, a bit of research would have done you the world of good.

A Clarity credit card from the Halifax has no transaction fees around the world. You go to an FX booth with your credit card + passport and withdraw the cash. No ATM fees involved and no % mark up.

Short term you can try the banks, or FX booths (bank related) - preferably with a credit card - and withdraw more funds at less cost. The banks do not like it, but they (some) will do this. Take out 100K or 50K. Keep it safe.

Thanks for this. I had no idea you could withdraw money using a credit card at the foreign exchange booths with no charge.

l used an Australian Credit Card to withdraw cash in China.

Not only did l get a better rate than the Aust banks gave me when l bought Chinese cash from them, but the fee was only $18.

Aust banks are thieves.

No wonder they are fighting tooth & nail to keep foreign banks out of Australia.

[JAS21]

Like you I am from the UK ... I have recently been using Xendpay and have found them satisfactory.

eg A deal involving 2000GPB will cost you 12GBP and you will get very approximately mid market rate. Search the forum, some say that they have a bad experience with Xendpay but it's not been associated with GBP to THB.

I see that they definitely do deals as low as 1000GBP. You may very well have to pay a fee of 100THB at the bank this end ... sometimes I'm charged and sometimes I'm not.

[Fairynuff]

The 200 Baht fee is per transaction.

So don't do these small withdrawals but do 25000 or 30000 Baht at once with the same fee.

Bangkok Bank allows 25k, Krungsri allows 30k per transaction.

The other banks that allow 30k? Forgot. It's in other threads.

TMB? (30K on international withdrawals).

BTW. Krugsri have a 10k limit on certain cards.

TMB is always the worst in exchange rates, see Thai Baht Exchange app for comparison. Today all banks are between 38.51 to 38.23 to the Euro and TMB 37.42.

Which app do you use?

[recycler]

The 200 Baht fee is per transaction.

So don't do these small withdrawals but do 25000 or 30000 Baht at once with the same fee.

Bangkok Bank allows 25k, Krungsri allows 30k per transaction.

The other banks that allow 30k? Forgot. It's in other threads.

TMB? (30K on international withdrawals).

BTW. Krugsri have a 10k limit on certain cards.

TMB is always the worst in exchange rates, see Thai Baht Exchange app for comparison. Today all banks are between 38.51 to 38.23 to the Euro and TMB 37.42.

Which app do you use?

Thai Baht Ex on iPhone

[ccarbaugh]

.... I use an ATM Card from my bank in the states. With the lower exchange rates, the 200 baht "fee," and the $3.50 charge from my bank in the states, it comes to nearly 10% every withdrawl. (1,800 baht on a 20,000 baht withdrawl.) - Yet another instance of "legalized-thievery."

[JAS21]

Eur to THB mid market rate has been above 39 all of today. So in %age terms ....

[thaihome]

.... I use an ATM Card from my bank in the states. With the lower exchange rates, the 200 baht "fee," and the $3.50 charge from my bank in the states, it comes to nearly 10% every withdrawl. (1,800 baht on a 20,000 baht withdrawl.) - Yet another instance of "legalized-thievery."

As others have said, get a Bangkok Bank account and send money (up to 5K) with ACH transfer from your US Bank online to it. Cost should be about 5 bucks a pop...

TH

[Mangostin]

I did not read all replies, but for personal experiences i can suggest the following to you:

1) Never ever let the ATM do the FX conversion for you, most likely that question will appear on the screen (not to all of them but most), so, just choose "NO" and continue without conversion (as they will always inevitably give you the worse one and they cash in on the difference, if you as on why the ATM it's not giving you a better exchange rate that you just checked previously online or anywhere else, they'll just give you a lame excuse as "mashine not updated, sollyy", that's if they say anything back.

2) Take the maximum allowed amount to minimize the damage, some ATM can spit out more notes than other, notably in touristic areas or the likes.

3) If you can, as you are just here for a short time, come with cash, then change it at one of the many "grey market" money shops around, it's all legal and they will give you better rate than a bank.

I read that someone was suggesting going to the cashier inside rather than use the ATM, when i did that, i have always been charged more and not less, however that was by using a local debit card, not sure about a foreign card, but i would expect a similar deal to the one outside, maybe with no choice about the conversions....

[Jonathon]

xendpay.com

[Cirencester]

The OP's card may have a limit on it. Commonly set at £200 on debit cards unless a higher limit is specifically requested and agreed by the bank.

£250 or £300 now.

For UK issued cards at least.

Halifax are minimum of £500 now

[Jonmarleesco]

You don't say which U.K. bank, but as a guideline, they are likely to be charging a fixed fee and a percentage, the Thai bank a fixed fee of B200. B10,000 is likely to be under your U.K. bank's maximum withdrawal. If so, withdrawing up to the maximum would certainly save you money in fixed charges. As well, using your U.K. card as a debit card, which I assume is an option, would save you at least the Thai bank fee.

And use Bangkok Bank; their FX rate is invariably the best available.

Edited March 8, 2016 by Jonmarleesco

[HikeFromLA]

Have you considered walking into the bank and making a withdrawal from a real living teller?

No ATM fees inside!

Perhaps you could do offer us the name of the two banks, and the type of account you have.

For example if you have a 50000 (dollar or pound I forget) account with HSBC, there are no fees I think.

OTOH, I walked into Kasikorn bank, asked for a 20000 baht "advance" on my Citibank checking account ATM card as I was advised here to do, and found the fee on my statement almost exactly double what if had been with a 10000 baht ATM withdrawal.

I still do not understand what an "advance" actually is, it sounds like a credit transaction, but the card is a debit card and ATM, not a credit card.

Back to the OP, I am sure others more knowledgeable will weigh in, but I have learned that there are 2 types of ATM transactions. At real bank ATMs, they skin you only their 200 baht plus the vigorish charged by the shylocks back home. For me this is around 3 percent.

But when I have Thai gf get cash at her little market, they zap me for way more. So if using ATM choose carefully.

[Apostate]

I used an MBNA Amex card in BKK recently for ATM cash withdrawals. Charged only 50 baht.

Edited March 8, 2016 by Apostate

[louse1953]

i travel often in foreign country, and thailand is the only country in the world, where it cost one arm to withdraw money at the atm. Its insanely too much expensive, thats simply extortion!

Thai ATM machines charge between 0 -200 Baht to make foreign withdrawals .

I Dont think the words "insanely expensive " or "extortion" are appropriate in this situation .

ATM machines cost money to make maintain and to run , its quite acceptable that you must pay part of the cost, if you want to use one

So only people with foreign cards must pay for the upkeep.It's just a rip for people who aren't here long enough to complain.They forced us to use these machines and now they jack the price when they feel like it.Cash in the front pocket and straight to Super Rich,then straight to Bangkok Bank on the corner,then straight to pub.No fees.