200 Bhat ATM Fee ?

[TallGuyJohninBKK]

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

The issue with that is, a lot of Thai banks and individual branches won't do counter withdrawals for foreign debit cards. It's really a hit and miss proposition, and more often miss when it comes to debit cards.

So, what city and Thai bank company are you able to do you debit counter counter withdrawals at?

[Jiu-Jitsu]

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

...and whatever percentage your credit union takes for foreign exchange transactions.

[Jiu-Jitsu]

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

But they also have options for ATMs that charge nothing at all. Whereas in Thailand, they all charge.

[54321]

Yes 200 baht is too much, but less than what my UK bank charge for fees and give a terrible rate. Yes I could change bank and possibly avoid paying UK fees but its hardly worth the hastle

[wooloomooloo]

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.

Great post. I used to bring large amounts of cash but it's not without its risks, obviously.

My wife and I take two semi-annual three week holidays to LOS and I've refined my habits to transferring cash to my Bangkok Bank account through an FX account when the rates are most favourable.

[ClutchClark]

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.

Yeah...that is my point...it keeps going up because it is a failrly inelastic service for the tourist.

Only reason I come back is because my Thai wife has family over here...certainly you are not suggesting that a 50-Baht increase should stop someone from returning. That seems a wee over-reaction.

Have not found an ATM that allows me to withdraw more than $500 USD, which has always been between 14K-15K Bhat for me.

And before anyone asks: my US bank tells me that the $500 limit is not set up by them.

Cheers

Edited July 20, 2016 by ClutchClark

[ClutchClark]

Yes 200 baht is too much, but less than what my UK bank charge for fees and give a terrible rate. Yes I could change bank and possibly avoid paying UK fees but its hardly worth the hastle

Good post.

Is the rate determined by the Thai Bank who owns the ATM or my local US Bank? I am guessing the Thai Bank.

Cheers

[ClutchClark]

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.

I will be checking into these higher withdrawal limit ATMs. Thanks for mentioning them. Edited July 20, 2016 by ClutchClark

[ClutchClark]

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.

I suppose the only thing that prevents me from bringing large sums of foreign currencny to Thailand is common sense.

The ATM fee is simply a very inexpensive "opportunity cost" for not risking large sums of money in a hotel safe.

I merely commented the prices that ATM fees have risen is about 33% in the few years I have been visiting here.

I do not visit often and would never leave the US again if not for my wife's family functions (except to go fishing in Canada and maybe a dream trip Down Under).

Edited July 20, 2016 by ClutchClark

[Thailand J]

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.

I suppose the only thing that prevents me from beinging large sums of foreign currencny to Thailand is common sense.

The ATM fee is simply a very inexpensive "opportunity cost" for not risking large sums of money in a hotel safe.

I merely commented the prices that ATM fee has risen about 33% in the few years I have been visiting here.

I do not visit often and would never leave the US again if not for my wife's family functions (except to go fishing in Canada and maybe a dream trip Down Under).

Get a Charles Schwab ATM card, your ATM fees in Thailand, Canada and Down Under, if any , will be reimbursed.

[TallGuyJohninBKK]

Schwab cardholders will have any ATM fees they incur automatically reimbursed worldwide by Schwab -- not just in the countries you mentioned.

[D3030]

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 ?

You go first! Which banks don't charge a 200 baht ATM fee? Edited July 21, 2016 by D3030

[Thailand J]

Schwab cardholders will have any ATM fees they incur automatically reimbursed worldwide by Schwab -- not just in the countries you mentioned.

They didn't reimburse the 1.07RM (9B) ATM fee I had incurred in Malaysia last month, too small to show up in their system?

[Suradit69]

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

If they don't charge a fee, they'll probably get you with the exchange rate. Banks, even Chinese banks, exist to make a profit. One way or another they'll extract something from you.

As others have said, if you have an account in a Thai bank, you can make ATM withdrawals for "free." They make money from you in other ways ... just like every other bank in the world. You may have noticed that bank executives usually make considerably more than minimum wages. There's a reason for that.

[autanic]

When I visit Thailand, I have found that bring neat crisp £20 notes (Undamaged and unblemished) does very nicely.

I usually start my holiday in a 5 star hotel, for a couple of days to climatise and unwind.

In that time, I will seek out the local banks and exchange rates. I usually exchange £500 at a time just in case the rate gets better, which it usually does in summer times.

Then I take my £500 with my Passport and head to the bank.

They fall over themselves to be nice to you, usually offering you a glass of water or tea. You always get the best exchange rate and NO FEES TO PAY.

Thats right, nothing to pay in fees. I walk out of the bank with my Thai Baht and enjoy my holiday.

I used to use ATMs when I first came here and then one year for whatever reason, I tried to use my card and it swallowed it. My bank said don't worry, we know now your in Thailand, we have checked the notes you left us before you travelled. We will send a new card to your home address in England in the next 5-7 working days. (Not much use to me in Thailand was my retort) and it cost me dear, very dear to get the money sent to another account and card I had and then withdraw from that. Not only did the ATM charge me, but I had a currency conversion charge and a bank fee for using my card abroad. It amounted to nearly 10% of the transaction amount.

CASH CASH CASH - Yes you run the risk of it being stolen. But on balance, the risk of your money being stolen compared to the probability of your card not working. I think cash wins out every time.

[TallGuyJohninBKK]

Schwab cardholders will have any ATM fees they incur automatically reimbursed worldwide by Schwab -- not just in the countries you mentioned.

They didn't reimburse the 1.07RM (9B) ATM fee I had incurred in Malaysia last month, too small to show up in their system?

Schwab's policy is to reimburse ATM fees worldwide. Normally that's done automatically at month's end. But there are times when their system doesn't catch/recognize something as an ATM fee. And in those cases, a call to customer service and pointing them to the transaction at hand would solve the issue.

Keep in mind, their policy only applies to fees charged by other banks for the use of their ATMs. It does NOT apply to other charges and transaction charges such as foreign currency exchange fees, etc etc.

Edited July 21, 2016 by TallGuyJohninBKK

[autanic]

I mean if you think about logically 200 baht is fair really.

The bank will incur a cost of resupply the machine with cash, transportation of cash, handling the transaction and then there is the unseen costs of having to tie up the banks own reserves in a machine, for foreigners and locals to use.

Of course the bank will recoup its costs from locals in the use manner of conducting business.

Without the fee with amounts to £4 a transaction on every £200 withdrawn or 2% the bank would make a loss on allowing you to use their facilities for free.

[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?

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.

That doesn't answer the question...what the relationship to the cost of buying, installing, networking, and servicing thousands of imported ATM machines and the fees to use them to a cou tries minimum wage? It's a ridiculous comparison.

In any case, as in other countries, I suspect people on the minimum wage end of the employment spectrum are a highly unbanked population to begin with and even if they had bank accounts, they would never be in a position to be hit with a foreign bank card ATM fee.

[little mary sunshine]

I can't believe what people

Complain about....less than

$6???? Get a life!!

[Jiu-Jitsu]

I can't believe what people

Complain about....less than

$6???? Get a life!!

Someone might suggest that your post complaining about people who are complaining about US$6 is even more pathetic.

They are complaining about US$6, but you are complaining about nothing. They are stuck using the ATM, but you aren't forced to peruse the thread and then complain about it. Ridiculous.

May I suggest that you may be the one who needs to get a life. They are minding their business, whereas you are sticking your nose in theirs.

[Pib]

I can't believe what people

Complain about....less than

$6???? Get a life!!

You are the dream customer of banks....or maybe an active or retired bankster.

[Jiu-Jitsu]

I mean if you think about logically 200 baht is fair really.

The bank will incur a cost of resupply the machine with cash, transportation of cash, handling the transaction and then there is the unseen costs of having to tie up the banks own reserves in a machine, for foreigners and locals to use.

Of course the bank will recoup its costs from locals in the use manner of conducting business.

Without the fee with amounts to £4 a transaction on every £200 withdrawn or 2% the bank would make a loss on allowing you to use their facilities for free.

So why doesn't every country and ATM apply this fee? The banks there simply act as a cartel...which is why the fee goes up uniformly.

Did you not read about the Interchange fee? Your post is nonsense.

[Jiu-Jitsu]

When I visit Thailand, I have found that bring neat crisp £20 notes (Undamaged and unblemished) does very nicely.

I usually start my holiday in a 5 star hotel, for a couple of days to climatise and unwind.

In that time, I will seek out the local banks and exchange rates. I usually exchange £500 at a time just in case the rate gets better, which it usually does in summer times.

Then I take my £500 with my Passport and head to the bank.

They fall over themselves to be nice to you, usually offering you a glass of water or tea. You always get the best exchange rate and NO FEES TO PAY.

Thats right, nothing to pay in fees. I walk out of the bank with my Thai Baht and enjoy my holiday.

I used to use ATMs when I first came here and then one year for whatever reason, I tried to use my card and it swallowed it. My bank said don't worry, we know now your in Thailand, we have checked the notes you left us before you travelled. We will send a new card to your home address in England in the next 5-7 working days. (Not much use to me in Thailand was my retort) and it cost me dear, very dear to get the money sent to another account and card I had and then withdraw from that. Not only did the ATM charge me, but I had a currency conversion charge and a bank fee for using my card abroad. It amounted to nearly 10% of the transaction amount.

CASH CASH CASH - Yes you run the risk of it being stolen. But on balance, the risk of your money being stolen compared to the probability of your card not working. I think cash wins out every time.

You are out of touch.

There is no way that you get the 'best rate' for cash in a bank and more so, not with £20 notes. You'll get the best rates with outlets like SuperRich with crisp £50 notes or by using the correct CC for a cash advance within a bank. You don't appear to have a clue.... There is a wealth od info on the board. Utilise it.

[little mary sunshine]

Totally stupid on YOUR part. complaining a Public forum. Everyone's

Open to respond.

[little mary sunshine]

Lots of investments in financial

Institutions 555555

[Pib]

Yea, no way you got the best rate for Notes at a bank. Best rates for Notes by a significant amount are at a money exchanger like SuperRich, Vasu, etc. For example see below snapshot of 21 Jul 16 Notes rates at this particular millisecond.

[Nick ZepTepi]

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

Use a wire transfer service, I use Xendpay or wirepay.

Your pay a minimal fee compared to backs and SWIFT.

And it can be charged to your debit card so no credit card fees.

Sent from my mobile, please forgive the autocorrect.

[Pib]

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.

Yeah...that is my point...it keeps going up because it is a failrly inelastic service for the tourist.

Only reason I come back is because my Thai wife has family over here...certainly you are not suggesting that a 50-Baht increase should stop someone from returning. That seems a wee over-reaction.

Have not found an ATM that allows me to withdraw more than $500 USD, which has always been between 14K-15K Bhat for me.

And before anyone asks: my US bank tells me that the $500 limit is not set up by them.

Cheers

Well, I won't ask but I will tell you that it is setup by your U.S. banks. A $500 or $1000 limit is common for U.S. debit cards daily cash withdrawal limits.

Heck, even a basic/standard Schwab Visa debit card has a daily cash withdrawal limit of $500 but their Schwab Platinum Visa debit card which most people end up getting has a daily limit of $1,000. See below snapshot.

I have several no-foreign transaction fee which also reimburse ATM fees U.S. debit cards that I use frequently to withdraw from Thai ATMs. I withdraw Bt30K at a time with each card which is around $850 at current exchange rates. And have used Thai bank ATMs a few times such as Bangkok Bank and KrungThai Bank to do Bt25K ($715) and Bt20K ($571) withdrawals.

I use Krungsri and TMB ATMs whenever possible since they allow Bt30K cash withdrawals. It varies among Thai bank ATMs as to how much you can withdraw, whether you are using a debit card from their bank or a foreign card. It varies: either Bt20K, Bt25K, or Bt30K.

Now you will run into some ATMs that may offer less that Bt20K but those ATMs are specifically restricted due to be in areas where "lots of cash withdrawals from them occur" which causes the ATMs to run out of cash to soon...before they can be refilled by a schedule refill. So the banks have made a conscious decision to limit withdrawals from those high-use ATMs to ensure they can dispense cash until the next scheduled refill versus people always seeing a "out of cash/not operating" screen when trying to use the ATMs....which can set a bad image for the bank. And then there are cases where the ATM will automatically and temporarily shift to providing a lower amount than normal...say temporarily change to Bt10K...because the ATM has sensed it's getting low on cash. But once refilled, it goes back to its normal limit of Bt20K, Bt25K, or Bt30K.

Recommend you talk to your U.S. bank again and ask them the simple question of what is my debit card's maximum daily cash withdrawal limit for in the U.S. and outside the U.S.? Don't mention the problem you having with never being able to get more the X-amount when in Thailand. And be sure to ask the part about inside and outside the U.S. because I think a few banks have a different limit for an in-U.S. vs outside-U.S. withdrawal.

[lopburi3]

Use a wire transfer service, I use Xendpay or wirepay.

Your pay a minimal fee compared to backs and SWIFT.

And it can be charged to your debit card so no credit card fees.

Suspect you will find such a service will also use an exchange rate to make up the difference. SWIFT charge can vary by the bank you use and for higher amounts will not be that great a percentage as it is a set fee. But if you are only taking a few thousand baht - then yes - it would be expensive.

Edited July 21, 2016 by lopburi3

[OMGImInPattaya]

I mean if you think about logically 200 baht is fair really.

The bank will incur a cost of resupply the machine with cash, transportation of cash, handling the transaction and then there is the unseen costs of having to tie up the banks own reserves in a machine, for foreigners and locals to use.

Of course the bank will recoup its costs from locals in the use manner of conducting business.

Without the fee with amounts to £4 a transaction on every £200 withdrawn or 2% the bank would make a loss on allowing you to use their facilities for free.

So why doesn't every country and ATM apply this fee? The banks there simply act as a cartel...which is why the fee goes up uniformly.

Did you not read about the Interchange fee? Your post is nonsense.

Banks are private for-profit businesses out to make as much money for their shareholders as they can...you're free to use their services or do all your cash handling, transportation, and storage on your own.