ATM Charge going up

[swampdonkey]

I heard all these kinds of things started going up back when Yingluck transferred 3 trillion to the central bank.. or something

Yes that is why they charge for ATM withdrawal

[gentlemanjackdarby]

Tourists should do their research befor travelling and make other arrangements such as travelers cheques or pre paid cards. Ex Pats should really have a Thai bank, over counter withdrawls or even Western Union transfers for only £2.90 bank-bank 5 days.

I've been looking into both travelers cheques and pre-paid debit cards recently and neither of those are a solution.

I'm in the U.S. and travelers cheques are hard to find - American Express no longer sells them from their website. They are, for the most part, only available from one's local bank and there are fees, generally 1 to 2 percent of the amount purchased. It's also difficult to find places to cash them and, in Thailand, the cost to cash them at a bank incurs a fee around 150 to 200 THB, probably deliberately set at this amount to ensure that they are not an alternative to an ATM.

Generally, pre-paid debit cards, since they are usually part of either the VISA or Mastercard network, are treated just like any debit card by the "foreign" (non-issuing bank ATM network) ATM, ie; they incur a surcharge.

The Revolut prepaid debit was a great alternative until they made recent changes - a "fair use" policy regarding ATM withdrawls (limited to 500 GBP or equivalent per month, above that incurring a 2 percent fee) and, unfortunately for Americans, there is no longer the option to top up using a debit card (International wire transfer only, with the attendant fees).

Probably the best options, for Americans at least, is either the Charles Schwab high-yield checking account, which reimburses all ATM surcharges or the Chicago-based Alliant Credit Union share draft account, which reimburses up to 20 USD per moth "foreign" ATM surcharges, including international ATMs. Alliant makes it very easy to become a member - I live elsewhere in the U.S. Great Lakes region, so I joined by making a contribution the Chicago-area based charity Foster Care to Success which, strangely enough, Alliant picked up.

[kkerry]

Tourists should do their research befor travelling and make other arrangements such as travelers cheques or pre paid cards. Ex Pats should really have a Thai bank, over counter withdrawls or even Western Union transfers for only £2.90 bank-bank 5 days.

Probably the best options, for Americans at least, is either the Charles Schwab high-yield checking account, which reimburses all ATM surcharges or the Chicago-based Alliant Credit Union share draft account, which reimburses up to 20 USD per moth "foreign" ATM surcharges, including international ATMs. Alliant makes it very easy to become a member - I live elsewhere in the U.S. Great Lakes region, so I joined by making a contribution the Chicago-area based charity Foster Care to Success which, strangely enough, Alliant picked up.

If the Thai ATM fee increases to 250 baht a pop then that's a whole 2 free transactions... better than nothing but shows how outlandish some bank fees are.

I'd love to hear a Thai bank explain why they need to impose such high fees, other than simply profiteering.

[balo]

Why don't you just open a Thai bank account like the rest of us and make a big online transaction ? The fees for the transfer would be under 200 baht and free ATM withdrawals and you'll get a Visa card for online shopping.

[Jiu-Jitsu]

That would make it among the highest, if not the highest, in the world. Some liar is going to claim it costs $10 in "America" or 8 euros in Paris or something, but it's just not the case. I was Amsterdam a few weeks ago and I was only charged 3 euros. Banks in many countries, especially countries in Africa, still charge nothing at all to make withdrawals.

I've never been charged in Amsterdam. Perhaps just some banks do so.

[Jiu-Jitsu]

No ATM charge if you get cash over the counter inside the bank. That includes mall banks.

Very rare that banks do this these days, what debit card do you have? when was the last time you did this? tried a few times with my UK debit cards, always a NO

Maybe I am wrong, we need more imput from anyone thats been successful, but doubtful

You need to utilise a credit card....

[Jiu-Jitsu]

Why don't you just open a Thai bank account like the rest of us and make a big online transaction ? The fees for the transfer would be under 200 baht and free ATM withdrawals and you'll get a Visa card for online shopping.

Rest of us??

Unless I was interested in hedging currency, I would have nothing to do with a Thai bank. See how you go if any of your money disappears and you try to get it back.

As to 200 baht, it appears that you are suffering from concussion. 200 baht is perhaps the fee to obtain a Thai debit card, nothing resembling the transfer cost.

There is usually a fee from the source bank and a fee from the receiving bank. Expect around 1000 baht. If utilising HSBC and sending in Pounds, perhaps 700 baht. You've been here long enough. No need to post such misinformation.

In fact it would be cheaper simply to withdraw cash over the counter with the right card and to fund an account that way instead of doing an online transfer, if one wanted to fund a Thai bank account.

[balo]

Why don't you just open a Thai bank account like the rest of us and make a big online transaction ? The fees for the transfer would be under 200 baht and free ATM withdrawals and you'll get a Visa card for online shopping.

Rest of us??

Unless I was interested in hedging currency, I would have nothing to do with a Thai bank. See how you go if any of your money disappears and you try to get it back.

As to 200 baht, it appears that you are suffering from concussion. 200 baht is perhaps the fee to obtain a Thai debit card, nothing resembling the transfer cost.

There is usually a fee from the source bank and a fee from the receiving bank. Expect around 1000 baht. If utilising HSBC and sending in Pounds, perhaps 700 baht. You've been here long enough. No need to post such misinformation.

In fact it would be cheaper simply to withdraw cash over the counter with the right card and to fund an account that way instead of doing an online transfer, if one wanted to fund a Thai bank account.

Completely BS , maybe in the US you pay a lot of the transfer , my transfer fees from Norway to Kasikorn account is under 200 baht , of course you have to look at the currency exchange but still it's cheaper than using a foreign ATM card here.

If you live here as an expat or retired the best thing you can do is to open a Thai bank account. I have invested several million baht here and never had any issues with trusting the bank . Online banking with Kasikorn and I can pay all my bills, order stuff online etc.

[Jiu-Jitsu]

Why don't you just open a Thai bank account like the rest of us and make a big online transaction ? The fees for the transfer would be under 200 baht and free ATM withdrawals and you'll get a Visa card for online shopping.

Rest of us??

Unless I was interested in hedging currency, I would have nothing to do with a Thai bank. See how you go if any of your money disappears and you try to get it back.

As to 200 baht, it appears that you are suffering from concussion. 200 baht is perhaps the fee to obtain a Thai debit card, nothing resembling the transfer cost.

There is usually a fee from the source bank and a fee from the receiving bank. Expect around 1000 baht. If utilising HSBC and sending in Pounds, perhaps 700 baht. You've been here long enough. No need to post such misinformation.

In fact it would be cheaper simply to withdraw cash over the counter with the right card and to fund an account that way instead of doing an online transfer, if one wanted to fund a Thai bank account.

Completely BS , maybe in the US you pay a lot of the transfer , my transfer fees from Norway to Kasikorn account is under 200 baht , of course you have to look at the currency exchange but still it's cheaper than using a foreign ATM card here.

If you live here as an expat or retired the best thing you can do is to open a Thai bank account. I have invested several million baht here and never had any issues with trusting the bank . Online banking with Kasikorn and I can pay all my bills, order stuff online etc.

Look...you started your post with "the rest of us". Are the rest of us from Norway? So that is where the nonsense began.

Secondly, you completely neglected to mention that you get hit on the currency exchange, so that immediately takes the charges way beyond 200 baht.

Thirdly, you are wrong about using foreign cards. I use mine and get the full TT rate with no deduction and no fee.

Lastly, you are representing people who live in Thailand or are there for the long term. Of course if you are living there it is more than useful to have a bank account. But to assume that it offers you the best value is to have your head firmly stuck in the sand.

[Jiu-Jitsu]

Why don't you just open a Thai bank account like the rest of us and make a big online transaction ? The fees for the transfer would be under 200 baht and free ATM withdrawals and you'll get a Visa card for online shopping.

Rest of us??

Unless I was interested in hedging currency, I would have nothing to do with a Thai bank. See how you go if any of your money disappears and you try to get it back.

As to 200 baht, it appears that you are suffering from concussion. 200 baht is perhaps the fee to obtain a Thai debit card, nothing resembling the transfer cost.

There is usually a fee from the source bank and a fee from the receiving bank. Expect around 1000 baht. If utilising HSBC and sending in Pounds, perhaps 700 baht. You've been here long enough. No need to post such misinformation.

In fact it would be cheaper simply to withdraw cash over the counter with the right card and to fund an account that way instead of doing an online transfer, if one wanted to fund a Thai bank account.

Completely BS , maybe in the US you pay a lot of the transfer , my transfer fees from Norway to Kasikorn account is under 200 baht , of course you have to look at the currency exchange but still it's cheaper than using a foreign ATM card here.

If you live here as an expat or retired the best thing you can do is to open a Thai bank account. I have invested several million baht here and never had any issues with trusting the bank . Online banking with Kasikorn and I can pay all my bills, order stuff online etc.

...and most importantly, you should try to stop yourself from jumping to silly conclusions. You have done so more than once....including assuming that I have anything to do with the USA.

[CeeGee]

Just going to try and bring this thread back on track, has anyone actually seen anything to say that the ATM fee is going up to 250 baht in August or is this just a rumor without any substance

[55Jay]

Just going to try and bring this thread back on track, has anyone actually seen anything to say that the ATM fee is going up to 250 baht in August or is this just a rumor without any substance

Nothing obvious on Google. Looked at the Trip Advisor page, no refs or citations on the comment about fee increase next month.

I clicked around on the Thai Banker's Assc site under Knowledge and News tabs, didn't see anything ATM related except an article about Chipped cards. Maybe somebody with Thai reading skills better than mine, can have a look.

http://www.tba.or.th/en/

[TallGuyJohninBKK]

Thai Military Bank- zero charge for ATM withdrawals and get withdraw at virtually any other bank- zero charge

Not for foreign bank cards, which is what most of the discussion here is about.

[TallGuyJohninBKK]

No ATM charge if you get cash over the counter inside the bank. That includes mall banks.

Very rare that banks do this these days, what debit card do you have? when was the last time you did this? tried a few times with my UK debit cards, always a NO

Maybe I am wrong, we need more imput from anyone thats been successful, but doubtful

You need to utilise a credit card....

As JJ said, over the counter withdrawals with foreign bank cards can be done at some Thai banks. And overall, foreign credit cards seem to be more often accepted than foreign debit cards for that kind of transaction.

But be aware of two things:

1. The willingness to do such counter withdrawal transactions appears to be fairly hit-and-miss among different Thai banks and even different branches. So it may take some shopping and asking before you finally find a branch willing and capable to do such a transaction.

2. Given that foreign credit cards seem to be more accepted than debit cards, anyone wanting to do a credit card cash advance over the counter should be aware that MOST foreign credit cards have varying combinations of 1.) foreign currency conversion fees, 2). cash advance flat fee, and 3). cash advance percentage fee, plus typically beginning to accrue interest, often at a very high rate, from the date of the advance.

2a. Unless such a card holder is careful and well-informed about the foreign use, cash advance fees of their particular credit card, they could very well end up being charged a higher amount of fees by their home country bank for the counter withdrawal than they would have paid just doing a normal 200 baht Thai bank ATM withdrawal.