Best way to withdraw larger sums of money in Thailand (from a North American bank)

[candels]

I don't mean very large, but larger than 10,000 baht. I notice a lot of ATMs limit how much you can take out in a single transaction. You can put your card back in and do it again, but each time you're paying over $10 (200 baht plus transaction fee from your own bank).

Is there a better way? How can it be done?

Thanks

[55Jay]

Use an ATM with a higher w/d limit. Krungsi and I believe TMB ATMs do 30,000 Baht per transaction. If I got that wrong, somebody will be along to correct me.

Or you can do an over-the-counter w/d inside the bank using your passport and ATM/Debit card - although not all branches agree to do this type of transaction.

In the past 2 months, I've done on-line ACH transfers from my US bank into my local Bangkok Bank account via the New York Bangkok Bank Branch. If you have a Bangkok Bank account, it's useful to set up the link between accounts so it's always there ready to go, even if you decide not to use it all the time.

Edit: If ATM will be your continued, primary method of accessing cash, you need to organize yourself with a bank and related cards (and credit cards) that do not charge a foreign currency transaction fee and ideally, reimburse you the Thai ATM fees. A well known one is Charles Schwab Bank in Reno, Nevada.

Edited May 14, 2016 by 55Jay

[candels]

Thanks for those tips!

I will probably have to call my bank to see about doing something similar to what you did with transferring to a local bank.

My bank is from Canada, so I don't think Charles Schwab is an option for me, unfortunately, but it is good information to know that this kind of thing exists.

To your questions, yes, the limit is generally 30,000 from what I have seen, even on the ATM screens. They just say "over limit" when you try that, though, until you bring it down to 10,000.

[Farma]

the limit is generally 30,000 from what I have seen, even on the ATM screens. They just say "over limit" when you try that, though, until you bring it down to 10,000.

If you see "over limit" i suggest you contact your bank and get them to increase your cards daily withdrawal limit. The ATM isn't restricting your limit. It's the limit you've agreed with your bank.

[candels]

Have done. From others on this forum, that's just what the machine displays when it either 1)doesn't have it 2)doesn't dispense that many bills (not related to value) etc

[lopburi3]

The ATM limit is the number of bills it can provide in one transaction - in case of Bangkok Bank it is 25 so if 1k bills available limit is 25k - if 500 baht bills limit is 12500 and if only 100 baht bills 2,500 baht. In many cases home bank will also have a daily limit in there local currency (often quite low) so in many cases that is the reason ATM can not provide more.

[55Jay]

Thanks for those tips!

I will probably have to call my bank to see about doing something similar to what you did with transferring to a local bank.

My bank is from Canada, so I don't think Charles Schwab is an option for me, unfortunately, but it is good information to know that this kind of thing exists.

To your questions, yes, the limit is generally 30,000 from what I have seen, even on the ATM screens. They just say "over limit" when you try that, though, until you bring it down to 10,000.

It did occur to me that you or, at least your bank, was Canadian because you used the term "North America", eh?

Before I migrated to Schwab, my first No Foreign Transaction Fee (FTF) account/card for use here in Thailand, was with Capital One Bank, which operates in Canada and UK. I didn't have any problems with them and still maintain the accounts and card as a back up.

The Capital One credit card (QuickSilver) is my primary card here. It has the No FTF feature and an unlimited 1.5% cash back program.

[allane]

Sign in to read a Private Mail from one of your fellow Canadians.

[Ireland32]

Use an ATM with a higher w/d limit. Krungsi and I believe TMB ATMs do 30,000 Baht per transaction. If I got that wrong, somebody will be along to correct me.

Or you can do an over-the-counter w/d inside the bank using your passport and ATM/Debit card - although not all branches agree to do this type of transaction.

In the past 2 months, I've done on-line ACH transfers from my US bank into my local Bangkok Bank account via the New York Bangkok Bank Branch. If you have a Bangkok Bank account, it's useful to set up the link between accounts so it's always there ready to go, even if you decide not to use it all the time.

Edit: If ATM will be your continued, primary method of accessing cash, you need to organize yourself with a bank and related cards (and credit cards) that do not charge a foreign currency transaction fee and ideally, reimburse you the Thai ATM fees. A well known one is Charles Schwab Bank in Reno, Nevada.

. Credit Unions , usually waive, too

[TallGuyJohninBKK]

Use an ATM with a higher w/d limit. Krungsi and I believe TMB ATMs do 30,000 Baht per transaction. If I got that wrong, somebody will be along to correct me.

Or you can do an over-the-counter w/d inside the bank using your passport and ATM/Debit card - although not all branches agree to do this type of transaction.

In the past 2 months, I've done on-line ACH transfers from my US bank into my local Bangkok Bank account via the New York Bangkok Bank Branch. If you have a Bangkok Bank account, it's useful to set up the link between accounts so it's always there ready to go, even if you decide not to use it all the time.

Edit: If ATM will be your continued, primary method of accessing cash, you need to organize yourself with a bank and related cards (and credit cards) that do not charge a foreign currency transaction fee and ideally, reimburse you the Thai ATM fees. A well known one is Charles Schwab Bank in Reno, Nevada.

Jay's is a good answer. Krungsri/Ayudhya and TMB ATMs do indeed allow up to 30K baht per withdrawal. And that amount is larger than the daily cash withdrawal limit on most U.S. or Canada bank ATM cards, unless you've managed to adjust it upward.

So if someone is getting an error message from those Thai banks when trying to withdrawal 30K, it's more than likely that it's the daily withdrawal limit on your home country bank messing up the works.

As for Schwab, they do also have an international division for non-U.S. customers. The rules and requirements are a bit different than for their U.S. customers, but I believe some of the same no FCF charged and ATM fee reimbursement features still apply. If you go to the Schwab website from a Canada IP address, it will recognize that and show you international info accordingly.

Another brokerage, TD Ameritrade. charges no FCF on foreign withdrawals, but does NOT reimburse foreign ATM fees. TD is a Canadian bank, but I'm not sure the status of TD-Ameritrade for Canadian citizens.

[gt162]

30K baht single transaction, 180 baht reimbursed from Schwab.

[aronp1]

As a tourist, I wouldn't worry about it. You're only going to be here for a max of 60 days. If you can afford to come for a vacation, then you can afford the ATM fee.

[wjdw]

I wont waste my time explaining in detail, but will say to the OP get your self a Revolut card, its self explanatory and available world wide.

[skatewash]

I wont waste my time explaining in detail, but will say to the OP get your self a Revolut card, its self explanatory and available world wide.

Only seems to be a good deal if you bank in EUR or GBP. A particularly bad deal, 3% surcharge, if using USD. All other currencies first need to be converted to EUR, GBP, or USD, so you would automatically lose a bit in the exchange just to top up the card.

Will I be charged to top up via debit card?

Topping up in GBP and EUR with a debit card on the app is completely free.

Supporting debit card top-ups in USD is expensive for us. We are working to bring these costs down. Until then, we have to pass on our costs, which are 3% per USD top-up. In this case it might be cheaper for you to top up via bank transfer.

If you top up in a currency other than GBP, EUR or USD then your funds will be converted into one of these currencies with your banks exchange rate. We are adding more base currencies soon!

-- https://revolut.com/faq/gettingstarted.php?cat_id=10&faq_id_according=52&cat_name=Common%20Faqs#parentVerticalTab4

Edited May 21, 2016 by skatewash

[wjdw]

Its "Interbank rates" that 3% is nothing, your already saving on any conversion ratio and the amount quoted at google (interbank rate) is what you get when withdrawing...

Funds can be held in USD, GBP, and EUR

[skatewash]

Its "Interbank rates" that 3% is nothing, your already saving on any conversion ratio and the amount quoted at google (interbank rate) is what you get when withdrawing...

Funds can be held in USD, GBP, and EUR

And here I thought 3% was 3%. In other words, if I top up the card with 10,000 USD I just paid 300 USD for the privilege. How is 300 USD nothing?

Also, if one is Canadian as the OP might be one would first have to convert from CAD to USD, GBP, or EUR.

If your transfer is denominated in Euros and your bank is located in a country participating in SEPA (Single Euro Payments Area) then a transfer to Revolut will cost the same as a domestic transfer. SEPA comprises the 28 E.U. member states as well as Switzerland, Norway, Iceland, Liechtenstein, Monaco and San Marino.

If your bank is located outside of the E.U. or is not denominated in Euros, then your transfer will be sent via SWIFT (Society for Worldwide InterBank Financial Telecommunications). This means that your bank (and/or an intermediary bank) may charge you an international transfer fee.

With SWIFT transfers there are a few things to bare [sic] in mind:

1. Your bank is likely to charge a fee to make a SWIFT transfer to Revolut.
2. When your money is in transit, it may be processed by an intermediary bank. They may also deduct a handling fee.
3. The amount you receive in your Revolut account therefore may be less money than you sent.
4. As banks charge different amounts and are not always transparent, we cannot provide an accurate amount you would be charged.

If your top up is in a currency other than GBP, EUR or USD your bank will convert the money for you using their exchange rate. This is unlikely to be the interbank rate, and you may also incur a conversion fee.

-- https://revolut.com/faq/gettingstarted.php?cat_id=10&faq_id_according=52&cat_name=Common%20Faqs#parentVerticalTab4

Sorry, this card sounds spectacularly bad if you don't bank in GBP or EUR.

[shadowmaster1971]

Its "Interbank rates" that 3% is nothing, your already saving on any conversion ratio and the amount quoted at google (interbank rate) is what you get when withdrawing...

Funds can be held in USD, GBP, and EUR

And here I thought 3% was 3%. In other words, if I top up the card with 10,000 USD I just paid 300 USD for the privilege. How is 300 USD nothing?

Also, if one is Canadian as the OP might be one would first have to convert from CAD to USD, GBP, or EUR.

If your transfer is denominated in Euros and your bank is located in a country participating in SEPA (Single Euro Payments Area) then a transfer to Revolut will cost the same as a domestic transfer. SEPA comprises the 28 E.U. member states as well as Switzerland, Norway, Iceland, Liechtenstein, Monaco and San Marino.

If your bank is located outside of the E.U. or is not denominated in Euros, then your transfer will be sent via SWIFT (Society for Worldwide InterBank Financial Telecommunications). This means that your bank (and/or an intermediary bank) may charge you an international transfer fee.

With SWIFT transfers there are a few things to bare [sic] in mind:

1. Your bank is likely to charge a fee to make a SWIFT transfer to Revolut.
2. When your money is in transit, it may be processed by an intermediary bank. They may also deduct a handling fee.
3. The amount you receive in your Revolut account therefore may be less money than you sent.
4. As banks charge different amounts and are not always transparent, we cannot provide an accurate amount you would be charged.

If your top up is in a currency other than GBP, EUR or USD your bank will convert the money for you using their exchange rate. This is unlikely to be the interbank rate, and you may also incur a conversion fee.

-- https://revolut.com/faq/gettingstarted.php?cat_id=10&faq_id_according=52&cat_name=Common%20Faqs#parentVerticalTab4

Sorry, this card sounds spectacularly bad if you don't bank in GBP or EUR.

Whilst all the responses are good in terms of which ATM allows withdrawal of largest amounts of Baht, one critical factor is exchange rate.

Krungsri & TMB are the worst. Remember all the atms/ banks in Thailand have different exchange rates. So whilst with drawing 30,000 baht from TMB you could actually be getting a very bad exchange rate. I base my withdrawals on which bank has the best rate of exchange. As I'm with Bank of China

I only get charged 100 baht per atm withdrawal as it is union pay. SO sure save a couple 100 baht on a few atm withdrawls but you may have lost 500, 600 1000 baht on the exchange rate fluctuation by going to a low exchange rate banks ATM.

I use this website when doing withdrawal https://daytodaydata.net so I know which bank gives the best rate when doing my withdrawal using foreign atm card/account.

[swissbie]

ATM for small amounts, over the counter for bigger ones. Zero commissions and no limits at the branch where the account was opened, small commission at inter provincial branches.

[gandalf12]

I am with the Bangkok Bank and I can take a total of Baht 50,000 per day; maximum of Baht 25,000 per transaction. I dont pay a fee for that. I could get a higher limit but dont really have a need for one.

[chicowoodduck]

I never use the local ATM, just bring a pile of ready cash with me in my back pocket and l

live the good life....for a year or so than go back home, reload and do a do-over....simple....???

[jacko45k]

Get a Thai account.

[D3030]

Use an ATM with a higher w/d limit. Krungsi and I believe TMB ATMs do 30,000 Baht per transaction. If I got that wrong, somebody will be along to correct me.

In the past 2 months, I've done on-line ACH transfers from my US bank into my local Bangkok Bank account via the New York Bangkok Bank Branch. If you have a Bangkok Bank account, it's useful to set up the link between accounts so it's always there ready to go, even if you decide not to use it all the time.

Edit: If ATM will be your continued, primary method of accessing cash, you need to organize yourself with a bank and related cards (and credit cards) that do not charge a foreign currency transaction fee and ideally, reimburse you the Thai ATM fees. A well known one is Charles Schwab Bank in Reno, Nevada.

Concur with the above..

ACH trf via New York to your Bankgok Bank Account is fine, if you're not in a rush to get your money..

Getting with a bank that doesn't charge foreign transaction fees is your best option.. My opinion..

Krungsri Bank ATM 30000 baht per transaction..

TMB ATM I used last week - had a 35000 baht per transaction limit..