Withdrawing Funds From a Thai ATM

[Samyan]

A friend who is currently on holiday in Thailand, needs to withdraw funds from an ATM using his Australian Commonwealth Bank credit card. Does anyone know which ATM he should use for his withdrawal?

Thanks,

Chris

[Jiu-Jitsu]

Makes no difference. They will all fleece him. The best way is to take it into a bank with his passport and to take a cash advance that way.

At least that way he avoids the usurious 200 baht ATM fee.

[drh1010]

Try citibank - some cards dont get charged the 200 baht fee. Not sure about Australian ones though - http://laptopexplorer.com/avoid-bangkok-atm-fees/

[wprime]

The Krungsri allows 30,000 at a time, BKK Bank 25,000, the rest 20,000. They charge a flat withdrawal fee so you want to take a lot out.

Edited July 20, 2016 by wprime

[TallGuyJohninBKK]

The Krungsri allows 30,000 at a time, BKK Bank 25,000, the rest 20,000. They charge a flat withdrawal fee so you want to take a lot out.

Thai Military Bank (TMB) and CIMB both have ATMs that also allow 30,000 baht maximum withdrawals, for the same 200 baht fee.

TMB ATMs probably are easier to find right now, as CIMB has been closing a lot of its branch locations lately. But Krungsri/Ayudhya works fine also.

But for the OP, just be aware that the holder's Australian Bank card probably is going to add on their own 3% or so foreign currency conversion charge, in addition to the flat fee ATM fee charged by the Thai banks.

[autanic]

In the past I have used Kasikorn bank styled KATM.

Goods as any really.

[TallGuyJohninBKK]

In the past I have used Kasikorn bank styled KATM.

Goods as any really.

Not really.

Kasikorn charges the same 200 baht ATM fee for foreign card use. But their per withdrawal limit is lower than Krungsri, TMB and CIMB, meaning your cost to withdraw there is going to be higher to obtain the same amount of funds.

[personchester]

In the past I have used Kasikorn bank styled KATM.

Goods as any really.

Not really.

Kasikorn charges the same 200 baht ATM fee for foreign card use. But their per withdrawal limit is lower than Krungsri, TMB and CIMB, meaning your cost to withdraw there is going to be higher to obtain the same amount of funds.

The ATM cost procedure is done once a year at 200 Bath, so there is nothing to worry about those yearly ATM cost procedure .

[TallGuyJohninBKK]

I'm not talking about the annual renewal fee that a lot of Thai banks charge their customers just to have and keep their own Thai bank debit card.

I'm talking about the 200 baht fee that Kasikorn and the other Thai banks charge customers when they want to withdraw funds with a non-Thailand bank card. That fee, the one mostly being discussed here, is a PER WITHDRAWAL fee on foreign cards.

[Samyan]

Thanks for your your replies. The amount required is less than 10,000 baht so it seems any ATM will do. If we get down to Sukhumvit today before his flight, we might try the Citibank ATM at Asoke.

Thanks again,

Chris

[TallGuyJohninBKK]

The OP's friend probably will end up getting charged considerably more by his Australian bank in credit card cash advance fees and foreign currency conversion fees, plus the potential for accruing interest, than the potential 200 baht Thai bank ATM fee.

[Samyan]

The OP's friend probably will end up getting charged considerably more by his Australian bank in credit card cash advance fees and foreign currency conversion fees, plus the potential for accruing interest, than the potential 200 baht Thai bank ATM fee.

Yes. He withdrew 8,000 baht from a Kasikorn ATM and the exchange rate was terrible to boot. He should have brought more currency than he budgeted for but that's the price he paid for not coming fully prepared.

[TallGuyJohninBKK]

For the future, if he plans future trips, he might explore getting a Citibank Australia debit card, or at least check with them.

I believe Citibank Australia debit cards are one of the variety that don't get charged ATM fees by Citibank Thai ATMs.

[Pib]

The OP's friend probably will end up getting charged considerably more by his Australian bank in credit card cash advance fees and foreign currency conversion fees, plus the potential for accruing interest, than the potential 200 baht Thai bank ATM fee.

Yes. He withdrew 8,000 baht from a Kasikorn ATM and the exchange rate was terrible to boot. He should have brought more currency than he budgeted for but that's the price he paid for not coming fully prepared.

The exchange rate was "not" terrible assuming he didn't select a DCC transaction (i.e., getting the local bank's DCC rate) which will around 4% lower than the Visa/Mastercard exchange rate...the Visa/Mastercard exchange rate is plus or minus a few stang the TT Buying Rate used for incoming wire transfers which is about the best the common man can get. And if offered a DCC transaction the ATM screen will most likely not call it that, but call it something like Bank's Rate, We Have Converted to Your Home Country Currency for you Convenience," etc. DO NOT select that option...select Continue Without Conversion (or similar wording) and then you'll get the card-network (Visa/Mastercard) full exchange rate. But don't forget the potential fees charged by the home country card-issuing bank.

If his card-issuing home country bank charges a foreign transaction fee (3% is common) then that effectively lowers the exchange rate....don't blame that on the Thai ATM as that's purely his home country bank charging the fee. And the real pisser is if he also selected/allowed a DCC transaction getting around a 4% lower exchange rate and if his home country bank charges a foreign transaction fee of say 3% then he probably gets hit with those two fees "plus" the Thai bank ATM Use Fee of Bt200. A person needs to understand the potential fees and just not mistakenly blame it on a low exchange rate.

Unless you have a debit card that does not charge a foreign transaction fee and/or reimburse ATM Use Fees, then using a debit card to get money can be expensive....but if having a no foreign transaction fee and ATM Use Fee reimbursing card (and never ever select/allow a DCC transaction) use of such a debit card is the cheapest way to get money when outside your home country.

Edited July 21, 2016 by Pib

[Jiu-Jitsu]

If he plans to travel abroad often, perhaps he can consider: https://www.citibank.com.au/aus/banking/everyday_banking/citibank_plus.htm