200 Bhat ATM Fee ?

[Pib]

It's the lower PayPal exchange rate (commission) of several percent which is basically an indirect fee that eats your lunch on an international transfer where money is converted.

A couple of examples using the USD and GBP transfer where the funds would be converted to Thai baht like a PayPal transfer into your Thai PayPal account in comparison to the Bangkok Bank TT Buying Rate used for incoming international transfers.

USD to THB via PayPal below whereas the TT Buying Rate at Bangkok Bank is 34.88...PayPal rate is 2.4% lower

GBP to THB via PayPal whereas the TT Buying Rate at Bangkok Bank is 45.59...PayPal rate is 2.2% lower

Bangkok Bank TT Buying Rate

Edited July 27, 2016 by Pib

[wump]

I'm not saying Paypal is good, in fact I hate Paypal. I just wanted post an example why there shouldn't be any fees when receiving money from Xendpay into a Thai bank account.

[Pib]

Yea, most peer-to-peer type money transfer systems like Xendpay have a money exchange partner in Thailand/in the country they are sending the money to who handles the exchange and transfers it into your Thai/local bank account. Therefore it simply looks like domestic transfer to the receiving Thai bank which incurs no charge.

Now the key is the eval the total cost in any exchange/transfer to include any Sending Fee, Exchange Rate, Correspondent/Intermediary Fee, and/or Receiving Fee. Many money transfer services will have low-to-no sending fees, correspondent, or receiving fees...it's the lower exchange rate where they get a person.

[Tagaa]

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

Clutch, I have to disagree with your point that the fee is excessive.

You are a tourist. From what you have said it appears you come to LOS about once a year for 35 days or so. (Spooky, ain't it) You are paying for the convenience of moving money HALF WAY AROUND THE WORLD....Literally.

If you don't want to pay the ATM fee, have your Thai wife open a bank account & transfer over what you need for your vacation. The last time I did an international transfer (September 2015) it cost $35 US. You might pay more, depending on your bank.

You can bring up to $10,000 US cash, on your person, without declaring it. More if you declare it. Are you really going to spend $10,000 US (about 345,000 Bt) in Thailand on a 35 day vacation? Doubtful.

If you do, use a credit card for large items.

[blackcab]

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

Clutch, I have to disagree with your point that the fee is excessive.

You are a tourist. From what you have said it appears you come to LOS about once a year for 35 days or so. (Spooky, ain't it) You are paying for the convenience of moving money HALF WAY AROUND THE WORLD....Literally.

If you don't want to pay the ATM fee, have your Thai wife open a bank account & transfer over what you need for your vacation. The last time I did an international transfer (September 2015) it cost $35 US. You might pay more, depending on your bank.

You can bring up to $10,000 US cash, on your person, without declaring it. More if you declare it. Are you really going to spend $10,000 US (about 345,000 Bt) in Thailand on a 35 day vacation? Doubtful.

If you do, use a credit card for large items.

No idea about the US side of things but the limit for Thailand is $20,000.

[Jiu-Jitsu]

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

Clutch, I have to disagree with your point that the fee is excessive.

You are a tourist. From what you have said it appears you come to LOS about once a year for 35 days or so. (Spooky, ain't it) You are paying for the convenience of moving money HALF WAY AROUND THE WORLD....Literally.

If you don't want to pay the ATM fee, have your Thai wife open a bank account & transfer over what you need for your vacation. The last time I did an international transfer (September 2015) it cost $35 US. You might pay more, depending on your bank.

You can bring up to $10,000 US cash, on your person, without declaring it. More if you declare it. Are you really going to spend $10,000 US (about 345,000 Bt) in Thailand on a 35 day vacation? Doubtful.

If you do, use a credit card for large items.

Were you able to keep a straight face while writing that rubbish?

Moving money halfway around the world? I can barely hide my contempt for such written nonsense.

The only money being moved is from the ATM into your hands.

...and the utter stupidity of the people suggesting that you should pull 20,000+ baht from the ATM each time and that the charge is just 1%.... Really? What if I'm leaving and just need 2000 baht to pay for my taxi? That would be a 10% charge, wouldn't it?

It would be completely different if they did just charge 1%, but they don't. They charge 200 baht to a captive audience. It's almost criminal...as it is money for nothing.

..as to the inanity of setting up a Thai bank account 'just for the holiday'.... His wife will travel ahead to open an account and he will then transfer and amount over? The cost of that alone will exceed the ATM fees. Then how will they know in advance how much they will spend?

Wow....

[Pib]

Clutch, I have to disagree with your point that the fee is excessive.

You are a tourist. From what you have said it appears you come to LOS about once a year for 35 days or so. (Spooky, ain't it) You are paying for the convenience of moving money HALF WAY AROUND THE WORLD....Literally.

If you don't want to pay the ATM fee, have your Thai wife open a bank account & transfer over what you need for your vacation. The last time I did an international transfer (September 2015) it cost $35 US. You might pay more, depending on your bank.

You can bring up to $10,000 US cash, on your person, without declaring it. More if you declare it. Are you really going to spend $10,000 US (about 345,000 Bt) in Thailand on a 35 day vacation? Doubtful.

If you do, use a credit card for large items.

No, you are just paying an ATM User Fee that is way too high (a.k.a., excessive)!

[JimGant]

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

They lie. The ATM machine will spit out the max notes allowed -- unless blocked by the issuing bank's daily allowance.

They charge 200 baht to a captive audience. It's almost criminal...as it is money for nothing.

Lemme see. Why do you still come to Thailand -- if saving 200 baht is so critical? Could it possibly be that the next alternative vacation spot ain't worth 2, 4, 6 hundred baht in saved ATM fees? No, Thailand's figured out what it's worth -- compared to the next best alternative. And they're charging accordingly. A "captive audience?" Hardly -- unless maybe the fee pushes out the unwashed backpacker to Cambodia. In which case, the Thai Tourism Authority is gloating: mission accomplished. No value in these folks.

[Jiu-Jitsu]

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

They lie. The ATM machine will spit out the max notes allowed -- unless blocked by the issuing bank's daily allowance.

They charge 200 baht to a captive audience. It's almost criminal...as it is money for nothing.

Lemme see. Why do you still come to Thailand -- if saving 200 baht is so critical? Could it possibly be that the next alternative vacation spot ain't worth 2, 4, 6 hundred baht in saved ATM fees? No, Thailand's figured out what it's worth -- compared to the next best alternative. And they're charging accordingly. A "captive audience?" Hardly -- unless maybe the fee pushes out the unwashed backpacker to Cambodia. In which case, the Thai Tourism Authority is gloating: mission accomplished. No value in these folks.

I don't pay the ATM fees...silly.

I go to many places much nicer than Thailand. But I also have friends in Thailand.

Your writings only serve to illustrate your rather limited ability to think outside of your box.

One thing you might learn is that even wealthy people don't like to be ripped off. It's not that we can't afford it, it is because we are not stupid.

That way, we stay wealthy.

Backpackers probably care more about the environment than a spitting Chinese tourist being lead around by an umbrella or flag.

Perhaps the natives should begin to care about their environment, instead of trying to squeeze every last baht out of it that they can, without giving back.

[Carib]

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

They lie. The ATM machine will spit out the max notes allowed -- unless blocked by the issuing bank's daily allowance.

They charge 200 baht to a captive audience. It's almost criminal...as it is money for nothing.

Lemme see. Why do you still come to Thailand -- if saving 200 baht is so critical? Could it possibly be that the next alternative vacation spot ain't worth 2, 4, 6 hundred baht in saved ATM fees? No, Thailand's figured out what it's worth -- compared to the next best alternative. And they're charging accordingly. A "captive audience?" Hardly -- unless maybe the fee pushes out the unwashed backpacker to Cambodia. In which case, the Thai Tourism Authority is gloating: mission accomplished. No value in these folks.

I don't pay the ATM fees...silly.

I go to many places much nicer than Thailand. But I also have friends in Thailand.

Your writings only serve to illustrate your rather limited ability to think outside of your box.

One thing you might learn is that even wealthy people don't like to be ripped off. It's not that we can't afford it, it is because we are not stupid.

That way, we stay wealthy.

Backpackers probably care more about the environment than a spitting Chinese tourist being lead around by an umbrella or flag.

Perhaps the natives should begin to care about their environment, instead of trying to squeeze every last baht out of it that they can, without giving back.

It becomes much clearer now, you are just getting worked up because of something which is not applicable to you since you go to "other nice places", and in the mean time you insult a few other people commenting in this topic.

I think you have a different problem, and it has nothing to do with 200 Baht.

[TallGuyJohninBKK]

Part of what's offensive, among other aspects, about the Thai retail banks' 200 baht withdrawal fee against foreign cards is it's essential a monopolistic, anti-competitive banking practice that would probably be illegal in most of our home countries. But not here in Thailand.

It isn't just an accident or coincidence that all the Thai banks have ended up with exactly the same 200 baht fee. They, through whatever means, agreed as a group to set the 200 baht charge and to increase the prior charge to the newer 200 baht amount. That kind of conduct would typically be called collusion and price fixing.

[wump]

The previous poster sums it up completely. Nobody cares about a 200 Baht ATM fee when spending over 100,000 Baht on a holiday. But what pisses people of is the monopoly/cartel and not being able to do anything about it.

Edited July 30, 2016 by wump

[Jiu-Jitsu]

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

They lie. The ATM machine will spit out the max notes allowed -- unless blocked by the issuing bank's daily allowance.

They charge 200 baht to a captive audience. It's almost criminal...as it is money for nothing.

Lemme see. Why do you still come to Thailand -- if saving 200 baht is so critical? Could it possibly be that the next alternative vacation spot ain't worth 2, 4, 6 hundred baht in saved ATM fees? No, Thailand's figured out what it's worth -- compared to the next best alternative. And they're charging accordingly. A "captive audience?" Hardly -- unless maybe the fee pushes out the unwashed backpacker to Cambodia. In which case, the Thai Tourism Authority is gloating: mission accomplished. No value in these folks.

I don't pay the ATM fees...silly.

I go to many places much nicer than Thailand. But I also have friends in Thailand.

Your writings only serve to illustrate your rather limited ability to think outside of your box.

One thing you might learn is that even wealthy people don't like to be ripped off. It's not that we can't afford it, it is because we are not stupid.

That way, we stay wealthy.

Backpackers probably care more about the environment than a spitting Chinese tourist being lead around by an umbrella or flag.

Perhaps the natives should begin to care about their environment, instead of trying to squeeze every last baht out of it that they can, without giving back.

It becomes much clearer now, you are just getting worked up because of something which is not applicable to you since you go to "other nice places", and in the mean time you insult a few other people commenting in this topic.

I think you have a different problem, and it has nothing to do with 200 Baht.

My problem is my intolerance for stupid people.

I don't pay the 200 baht and am I happy to help others to avoid paying it too. I also don't pay any ATM fees in the USA or the Caribbean, UK, Europe...

So no, I'm not bothered by the 200 baht because I don't pay it. But I don't live my life as "I'm alright Jack", so I'm happy enough to share the knowledge. The fee is an outrageous money grab.

So far your posts have been of no use at all. Are you actually going to get around to posting something of substance, useful to the members here?

[wump]

So how do you actually get around it?

[Carib]

My problem is my intolerance for stupid people.

I don't pay the 200 baht and am I happy to help others to avoid paying it too. I also don't pay any ATM fees in the USA or the Caribbean, UK, Europe...

So no, I'm not bothered by the 200 baht because I don't pay it. But I don't live my life as "I'm alright Jack", so I'm happy enough to share the knowledge. The fee is an outrageous money grab.

So far your posts have been of no use at all. Are you actually going to get around to posting something of substance, useful to the members here?

No, I don't need to with a genius like you around. Too bad you have a problem with stupid people, I feel sorry for you.

Answer Wump his question, and don't say over the counter withdrawal, it is now refused by most banks or will also cost you a fee.

[JimGant]

That kind of conduct would typically be called collusion and price fixing.

Would love to read Aeon's board notes when they decided to join the ATM fee "collusion." Kinda like when United decides to match American's fare hikes.

[TallGuyJohninBKK]

Well, AEON isn't a Thai retail bank. And of the dozen or so actual Thai retail banks, every one is charging exactly the same ATM fee.

What would you think if you went to book a flight from L.A. to S.F., and found that every single U.S. airline flying that segment had exactly the same fare?

[JimGant]

Well, AEON isn't a Thai retail bank. And of the dozen or so actual Thai retail banks, every one is charging exactly the same ATM fee.

You missed my point. Yes, Aeon ISN'T a Thai retail bank -- yet decided to match their ATM fee. Is this collusion -- or a sensible business decision?

[TallGuyJohninBKK]

Jim, AFAIK, AEON hasn't matched their ATM fee to the other Thai banks charging 200 baht.

AEON is still charging a 150 baht fee, not 200 baht, last time I checked. The downside that still makes AEON less appealing, however, is they reduced their maximum withdrawal to just 20K baht around the same time they began charging the new fee. Which is less than the 30K people can get from Krungsri and TMB ATMs.

http://www.aeon.co.th/aeon/fees-payment/aeon-atm-access-fee/?&language_id=1

[TallGuyJohninBKK]

On 7/25/2016 at 1:40 PM, siam2007 said:

 

 

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.

 

 

Nobody really followed up on this post by Siam earlier in this thread, but I took particular, curious note of it a few days ago when he posted it (never having ever even thought of Bank of China's ATMs here in Thailand before).

 

So today, I was down in the Sathorn area and stopped by the Bank of China main branch on the ground floor of the office building there, at the corner of Sathorn and Narithiwas roads, directly opposite from the BRT's Sathorn bus station there. Went inside and the branch was closed on a Sunday morning as expected, but they had two regular BofC ATMs in the public area outside the branch, and right next-door to a Starbuck's Coffee counter there.

 

And sure enough, I was able to make a withdrawal with my U.S. MasterCard logo debit card, had no fee notice on the ATM screen, went home and checked my online banking -- no ATM fee there either, and a regular exchange rate of 34.93 baht to the dollar, exactly what the MasterCard network currency exchange website shows as their most recent rate as of Friday. It was also exactly the same exchange rate as I got on two POS purchases I made with the same MC debit card elsewhere this morning. So BofC's not doing any funny business with the exchange rate on their ATM transactions.

 

So, I can confirm that the Bank of China ATMs here are fee-free for cards that they accept. Siam mentioned only using MasterCards, and indeed the Bank of China ATMs only have the card symbols on them for MasterCard, Cirrus, Maestro and UnionPay, and not the VISA or PLUS network typically associated with VISA cards. Although, once back home, I checked and discovered that I do have a couple bank cards that are VISA logo on the front, but also carry the Cirrus logo on the back. So it's possible that VISA cards bearing the Cirrus logo on the reverse might also work.

 

Here's what the Bank of China ATMs look like (and like the Thai ones, they have an on-screen menu choice to see the display in English language):

 

Bank of China ATM-Sathorn.jpg

 

Here's the Bank of China (Thai) website listing their various branches, including 3 in BKK: Sathorn, Bangna, and Ratchada, along with Rayong, Khon Kaen, and Patumthani:

 

http://www.bankofchina.com/th/en/aboutus/ab3/

 

And, MUCH THANKS to Siam for passing along this great tip.

 

The only thing I didn't get a chance to check out today (because I was just doing an initial trial run to see how it worked) was to learn the maximum amount of baht that the Bank of China ATMs will handle per withdrawal (assuming one's card supports a higher daily limit). Perhaps someone following in my footsteps can try that, and post a follow-up here.

the limit is 30K, the ATM will tell you about this during the transaction process
 

Just to follow-up on the Bank of China ATMs issue.

This past weekend, I took 3 U.S. MC debit cards I had at home and did test withdrawals with each of them. Each worked fine, no local fee and no problem.

For some reason, for one card, once inserted, the ATM screen flashed a message asking whether the card was a local or international MC (though it wasn't clear exactly what that meant). I chose international, and proceeded normally.  Didn't get the same screen or message with my other two cards.

Their ATMs do seem to be a bit fussy about the PIN code entries, and I see they are configured to accept 4 or 6 digit PINs. I'd type in my 4 digit code when first prompted, and then the screen would pop up another screen asking me to confirm the code I'd entered. I'd click to confirm, and it would respond wrong PIN. But then when I selected Change PIN and typed in my 4 digit PIN again manually, it worked fine.

The currency exchange rate on my cards seems to be fine. As of this posting, MC hasn't yet posted their rates for Monday. But for my Sunday transactions, I got 34.781, and MasterCard's posted network rate for last Friday was 34.80. Of course, one's local home country banks have the ability to impose their own foreign currency exchange fee on their own cards, apart from what MC does. My home banks claim they don't charge any FCF on their MasterCards.

 

 

[Pib]

13 minutes ago, TallGuyJohninBKK said:

 

Their ATMs do seem to be a bit fussy about the PIN code entries, and I see they are configured to accept 4 or 6 digit PINs. I'd type in my 4 digit code when first prompted, and then the screen would pop up another screen asking me to confirm the code I'd entered. I'd click to confirm, and it would respond wrong PIN. But then when I selected Change PIN and typed in my 4 digit PIN again manually, it worked fine.

 

TG,

   Are you saying you had to "change" your PIN to new PIN in order for your PIN to be accepted by the ATM?

[TallGuyJohninBKK]

No Pib, my regular 4 digit PINs worked fine.

The Change PIN button/command I was referring to was on the ATM screen, in situations where someone has mistakenly typed in the wrong PIN, and wants the ATM to allow them to re-enter the correct one.

I had trouble in getting the ATM to recognize the correct PIN I had typed in. And each time, had to retype the correct PIN a second time, when prompted, in order to get the machine to recognize it. I'm not sure if it was me entering the PIN at the wrong point after inserting the card, or perhaps the machine is initially looking for a 6 digit (Chinese) PIN, or something else.

But in the end, it worked fine each time when I retyped my normal 4 digit PINs for a second time after clicking the Change PIN key on the ATM screen after my initial, unsuccessful entry.

 

[Pib]

OK...understand now what Change means in this case.  

When using ATMs there have only be a very few times over the years where after entering my PIN and getting to the very end of the transaction that a screen popped up asking me to Reenter PIN...or maybe it was Confirm PIN.  

[TallGuyJohninBKK]

I read somewhere else recently that for ATMs that use 6 digit PINs, sometimes, they'll automatically insert two zeroes in front of a 4 digit PIN. Dunno if that was happening in my case. I just know that each time, I had to re-type my 4 digit PIN a second time in order for the PIN to be accepted and the transaction proceed.

On the BoC ATMs, when you type your PIN, it just shows the entries as asterisks (the same as other ATMs, I believe)... so you can't actually see whatever numbers are being shown in the PIN entry box on the ATM screen.

The bottom line is: BofC is a viable fee-free alternative for those with MCs who happen to live or work near one of their handful of locations.

Edited August 1, 2016 by TallGuyJohninBKK

[Pib]

Yea, too bad they only have six locations in Thailand with 4 of those locations in the greater Bangkok Metro Area and the other two in Rayong and Khan Kaen.   I drive by the head office on Sathorn Rd in Bangkok every few weeks...I would need to park the car in some building so I could get out and use their ATM....time to find parking and maybe some parking fees don't make it worth it for me.  But definitely lucky if you live close to one.

Bank of China Locations: http://www.bankofchina.com/th/en/aboutus/ab3/ 

[TallGuyJohninBKK]

Well, it is convenient as well, in terms of:

a -- being directly across the street from the BRT bus line's Sathorn terminal station, and

b -- being a short Skywalk down from the Chong Nonsi BTS station on the Silom line, heading toward Sathorn Road.

 

[Jiu-Jitsu]

On 30/07/2016 at 3:13 AM, Carib said:

No, I don't need to with a genius like you around. Too bad you have a problem with stupid people, I feel sorry for you.

Answer Wump his question, and don't say over the counter withdrawal, it is now refused by most banks or will also cost you a fee.

 

Wow, you really are one of those people for whom I have a low tolerance.

For Thailand I have three credit cards that allow me cash advances fee free. I also had one Prepaid Mastercard that did the same. ..recently discontinued. It is debit cards that are often refused.

For other countries, I simply utilise the ATMs that don't levy a fee. It's not rocket science...other than for people like yourself.

 

[zierf1]

My visa debit card linked to my brokerage account refunds all such ATM fees.  Why don't you get a decent atm card?

[fusion58]

On 7/20/2016 at 5:26 PM, lovelomsak said:

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

It's been my experience with Thai banks that when they tell you something "can't" be done, 99% of the time what they really mean is "we don't know how to do it."

Of course, no one here will ever admit to not knowing something.

[fusion58]

On 7/20/2016 at 10:07 PM, Beechboy said:

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.

But the exchange rate you get when you use PayPal sucks the fat one.