200 Bhat ATM Fee ?

[ClutchClark]

Every time I come back here the "gouge" is worse.

[lopburi3]

Nothing preventing bringing cash - or setting up a Thai account and making transfers into it and using a local free ATM withdrawal option if you are a regular visitor. Agree the ATM free is high - so the option is to find/use other methods.

[OMGImInPattaya]

And yet you keep coming back...maybe why it keeps going up. It's a one-percent charge on a 20k withdrawal (even less if you use an ATM that allows a 25k draw). It's seems reasonable to me.

Edited July 20, 2016 by OMGImInPattaya

[blackcab]

Banks pay a lot of money to install atms and the associated network infrastructure. They pay for the electricity. Maintenance. Secure cash replenishment.

All of this costs money, which banks earn from their own customers who deposit money in bank accounts and who buy financial products from them.

It sounds like you do none of this, but complain because you are being charged too much.

I bet you also get offended by signs that say "Toilets are for our customers only".

[Beechboy]

"All of this costs money, which banks earn from their own customers who deposit money in bank accounts and who buy financial products from them."

And ATM users pay into the system as well by depositing money into their own bank accounts and by buying financial products from their own banks and others.

They too are in the "system."

All banks profit by being part of the system, it is a network based upon reciprocity.

The UK ATMs/banks do not now, by and large, see fit to levy a fee.

The banking "system" makes a great deal from money transfers and from currency exchange as it is. It is a big earner for them. This additional charge reeks of extortion. It is no small amount.

The ATM fee in Thailand is too high and, when added to the other banking expenses that all the banks involved levy, makes it increasingly necessary to look for ways to mitigate against this. Bringing cash is one way for regular visitors like me as the gap in costs makes it more and more attractive to take that perceived "risk."

There are one or two banks who still allow the time honored passport and debit card method for large amounts and there is a booth on Suk., near 12 (I believe) which will still accommodates this method. You need to look around.

Some on here might be aware of other such "friendly" branches, if there are any left.

Edited July 20, 2016 by Beechboy

[siam2007]

And yet you keep coming back...maybe why it keeps going up. It's a one-percent charge on a 20k withdrawal (even less if you use an ATM that allows a 25k draw). It's seems reasonable to me.

It is NOT reasonable, Mr. Donald, as banks in other neighboring countries that see a lot of tourists such as Malaysia, Singapore, Indonesia/Bali don't charge any fee at all.

as For Thailand: If you are lucky to hold a Mastercard and stay near one of the very rare BANK OF CHINA ATM's in Bangkok and one in Khonkaen, you can avoid fees altogether

[Briggsy]

A little forward thinking and this particular fee can be avoided.

[OMGImInPattaya]

And yet you keep coming back...maybe why it keeps going up. It's a one-percent charge on a 20k withdrawal (even less if you use an ATM that allows a 25k draw). It's seems reasonable to me.

It is NOT reasonable, Mr. Donald, as banks in other neighboring countries that see a lot of tourists such as Malaysia, Singapore, Indonesia/Bali don't charge any fee at all.

as For Thailand: If you are lucky to hold a Mastercard and stay near one of the very rare BANK OF CHINA ATM's in Bangkok and one in Khonkaen, you can avoid fees altogether

Maybe consider living or vacationing in China...must be a Bank of China ATM on every corner.

[shirtless]

Its just another tax it will go up again in 18 months.

[theguyfromanotherforum]

I use credit cards most of the time and earn points.

If the fee was less insane.... say less than 100 baht perhaps I would use ATM more often.

[daveAustin]

I sympathise with the op a bit as Thai banks do gouge and this fee is a grab as they already get you on exchange. While this charge doesn't affect me, the inter-provincial withdrawal fee between same banks is petty (perhaps due to them often operating as a franchise), as is the annual ATM card charge. I was also stiffed by a bank on a mortgage, who cleverly cooked the figures to incorporate an insurance I had specifically turned down... though I guess any bank around the world is party to that behaviour. Banks in general: bunch of crooks; Thai banks: bunch of CROOKS.

[lovelomsak]

I am forced to use ATM by my bank I flew back to Canada to set up regular transfers to my Thai account. I spoke to 2 bank managers and 2 finance officers and none of them knew what I was talking about they all told me they could not do it.So I flew half way across the world to set up bank to bank transfer to be told they would not do it. I was given a new ATM card and wished good luck. Such is the new world huh. I told the bank I know many foreigners from England,America,Sweden etc who can do . they replied while this is Canada we will not do it

Edited July 20, 2016 by lovelomsak

[blackcab]

I am forced to use ATM by my bank I flew back to Canada to set up regular transfers to my Thai account. I spoke to 2 bank managers and 2 finance officers and none of them knew what I was talking about they all told me they could not do it.So I flew half way across the world to set up bank to bank transfer to be told they would not do it. I was given a new ATM card and wished good luck. Such is the new world huh. I told the bank I know many foreigners from England,America,Sweden etc who can do . they replied while this is Canada we will not do it

Your bank is useless. Change to a more customer friendly choice.

[lopburi3]

They would need to make a wire transfer or SWIFT transfer using a Bank that has connections with the Thai bank. They would not be able to do directly.

[Langsuan Man]

200 Bhat ATM Fee ?

Every time I come back here the "gouge" is worse.

And exactly what bank is now charging 200 THB ATM fee or are you just guessing ?

[Thailand J]

200B is a rip off in a country where minimum wage is 300B/day.

I was in Malaysia last month where ATM fee at Maybank was 1.07 Malaysian Ringgit, about 9B.

[theguyfromanotherforum]

On tripadvisor there is a note that withdrawal fees are going to be 250 baht in August, just as it was mentioned in another thread here.

[lust]

200 Bhat ATM Fee ?

Every time I come back here the "gouge" is worse.

And exactly what bank is now charging 200 THB ATM fee or are you just guessing ?

Every bank.

[Carib]

It is not just Thailand, on some of the Caribbean islands I pay the equivalent of about US $ 4.50 ATM fee.

[lust]

Not only is it 200 baht, but you have your own bank back home also wanting to get their piece of the pie too with an additional fee. Bloody expensive.

[Thailand J]

I am forced to use ATM by my bank I flew back to Canada to set up regular transfers to my Thai account. I spoke to 2 bank managers and 2 finance officers and none of them knew what I was talking about they all told me they could not do it.So I flew half way across the world to set up bank to bank transfer to be told they would not do it. I was given a new ATM card and wished good luck. Such is the new world huh. I told the bank I know many foreigners from England,America,Sweden etc who can do . they replied while this is Canada we will not do it

How about a brokerage firm instead where you can open an account in Canada and transfer money to Thailand online or by calling? For example Charles Schwab may be?

Edited July 20, 2016 by Thailand J

[OMGImInPattaya]

200B is a rip off in a country where minimum wage is 300B/day.

I was in Malaysia last month where ATM fee at Maybank was 1.07 Malaysian Ringgit, about 9B.

What is the relationship between a bank's charge for processing a foreign bank ATM card transaction and a country's minimum wage?

[Beechboy]

PayPal is the easiest way to tranfser money to another country.

Their charges are very reasonable, don't know about the receiving bank's though.

BUT boy is it easy nowadays.

One minute job.

[JohnC]

Used Aeon ATM today , 150 baht charge.

[michaellee]

I am forced to use ATM by my bank I flew back to Canada to set up regular transfers to my Thai account. I spoke to 2 bank managers and 2 finance officers and none of them knew what I was talking about they all told me they could not do it.So I flew half way across the world to set up bank to bank transfer to be told they would not do it. I was given a new ATM card and wished good luck. Such is the new world huh. I told the bank I know many foreigners from England,America,Sweden etc who can do . they replied while this is Canada we will not do i

You could do the transfer with RBC bank to your bank account in Thailand with Bank of Ayudhiya however there's still a $13 fees and takes about 1-2 days to appear in your Thai account, it's better to just pay 200b. $13 is more than 250b. That's just my suggestionn.

[Pib]

Keep in mind folks that the ATM owner, such as a Thai bank, gets an interchange fee for an ATM cash withdrawal "plus" an fee the ATM the bank may charge.

Just for example let's say you have a Visa card and slide it into a Thai bank ATM to get say 30K baht which some Thai ATMs provide like Krungsri Bank and TMB...others only Bt25K like Bangkok Bank...and the remaining Bt20K.

The Thai bank would get in interchange fees $0.50 (approx Bt18) plus 0.15% of the withdrawn amount which would be Bt45 for a Bt30K withdrawal for a total of Bt63. This is cover ATM costs and provide a profit. But to increase the profit the Thai bank adds on a high Bt200 fee for foreign cards which means they get a total of Bt263 or approx $7.50 USD per withdrawal. Very nice profit.

Banks promote ATMs as a customer convenience which they are, but the real reason there are so, so many ATMs (you practically trip over them since they are everywhere) is because of the numerous fees involved in using the ATM for various things such as funds transfers, paying bills, withdrawing cash, etc. And they also save the banks a bunch of money by not having to build more brick & mortar banks and hire additional staff to man those banks. I still remember from my younger days in how banks promoted this new ATM technology and how it would make banking cheaper (LOL) and more convenient for customers. Banks love ATMs because ATMs generate a lot of profits...oh yea, they are a customer convenience also.

See below snapshot from the Visa interchange fee for ATM cash withdrawals...expect Mastercard ATM interchange fee structure is very, very similar. "Issuer" means the bank that issued your card; "Acquire" means the bank owning the ATM. The "Access fee" talked about below is the ATM owner fee they may charge like the Bt200 charged by Thai banks...the fee above beyond the interchange fee. And don't forget in the overall fee picture you may also have a foreign transaction fee possibly charged to you by your home country card-issuing bank (1 to 3% is common) plus the approx 1% Visa/Mastercard currency conversion fee which is usually included within the card-issuing bank's foreign transaction fee...but sometimes banks break it out separately.

Yes sir, banks love it when you use an ATM...the ATM owner gets a nice fee, Visa/Mastercard get around a 1% fee, and your home country card-issuing bank possibly gets a foreign transaction fee. Your home country bank uses part of that foreign transaction fee they may charge/pass along to your to pay the Visa/Mastercard 1% fee...and initially pay the Thai bank interchange fee & Bt200 ATM use fee...but they recover that by charging your account. But a few banks like Schwab do not charge a foreign transaction...do not pass along the any fees to you...they completely absorb them....but Schwab is one of the exceptions.

ATMs can be an expensive way of getting money in a foreign country especially if you card-issuing bank charges a foreign transaction fee and does not reimburse ATM fees...most don't...but a few do like Schwab just for example. Toss in the Thai bank high Bt200 fee and it can get expensive.

ATMs are to banks as slot machines are to casinos. Oh yea, ATMs are a customer convenience (LOL).

[Thailand J]

200B is a rip off in a country where minimum wage is 300B/day.

I was in Malaysia last month where ATM fee at Maybank was 1.07 Malaysian Ringgit, about 9B.

What is the relationship between a bank's charge for processing a foreign bank ATM card transaction and a country's minimum wage?

200B may just be small pocket change in a country with high wages and high standard of living...which Thailand is not.

If Maybank can live with 9B I am sure Thai banks could.

Edited July 20, 2016 by Thailand J

[TallGuyJohninBKK]

It is not just Thailand, on some of the Caribbean islands I pay the equivalent of about US $ 4.50 ATM fee.

The current 200 baht Thai ATM fee (leaving aside any future increases) is closer to $5.70 or so U.S. -- considerably higher than the Caribbean fees you're mentioning.

[TallGuyJohninBKK]

PayPal is the easiest way to tranfser money to another country.

Their charges are very reasonable, don't know about the receiving bank's though.

BUT boy is it easy nowadays.

One minute job.

Last time I checked, the cost of the transaction fee and lower exchange rate with Paypal international fund transfers ends up being a higher cost to the withdrawer than does paying a flat 200 baht Thai ATM fee for a maximum 30,000 baht withdrawal from Krungsri, TMB or CIMB.

[Sparkles]

Get a cash advance over the counter.I use my Oz Credit Union debit card,they take photo copy of passport,no charge here, $5 charge back in Oz