atm cards

[Guest aot87]

How is the charge of 150 bht going to work, will it come of the end fee or will it be added to your amount

[Gaybutton]

How is the charge of 150 bht going to work, will it come of the end fee or will it be added to your amount

From what I understand it will be added to your amount. When you do your transaction a notice will come onto the screen informing you of the 150 baht charge (currently the equivalent of about US $4.30) and you have the option of accepting the transaction or rejecting it.

 

Both Bank of Ayudhya and K-Bank (Kasikorn Bank) so far are not charging the 150 baht fee. Maybe other banks also are not yet charging the fee, but someone else will have to tell you.

 

Perhaps some of you can fill us in as to which banks are charging the fee and which banks are not.

 

There are a few solutions to work around having to pay the fees very often.

 

1. You could, of course, go back to using travel checks when going to Thailand rather than using ATMs.

 

2. You could open a Thai bank account if you don't already have one, and take out larger transactions with a foreign ATM card and deposit the money into your Thai bank account while in Thailand. I understand you can still open a K-Bank account fairly easily without a non-immigrant visa. Fewer and fewer banks are allowing that, so during your next trip it would be advisable to open a Thai bank account if you intend multiple trips to Thailand. If you prearrange with your home country bank, you can do a very large transaction with use of your foreign ATM card if you go into a bank branch in Thailand and have them do a withdrawal for you. I did that when I was paying off my house in Thailand and had no problem at all withdrawing US $10000.

 

For most of you, if you are staying in the Pattayaland or Sunee Plaza area, the nearest K-Bank branch is right outside of Tuk Com on Pattaya Tai.

 

3. If you have a Thai bank account, but don't want to use travel checks, you might want to wire money into that account prior to your trip. Then you can use your Thai ATM card when you get here.

 

Those are my suggestions. Perhaps some of you have additional suggestions.

 

Remember, if you are going to do large transactions, do them in daylight with plenty of people around. Don't do them at night while you're alone. Be very careful of pickpockets, especially when riding a baht bus. Lady-boys that work Beach Road and Walking Street also have a reputation for being notorious pickpockets. Be careful!

[Guest ReneThai]

[Guest GaySacGuy]

I guess I missed something...the first post say how will it work, etc.?? Is there some new thing about foreign ATMs here in Thailand??? I did a transaction at a Bangkok Bank two days ago and no fee was added...at least I don't think the fee was added!

[Guest zzrichard]

I did a transaction at a Bangkok Bank two days ago and no fee was added...at least I don't think the fee was added!

I believe the post is regarding withdrawing money from different countries via a Thai bank ATM, in which case some banks are charging a 150 baht surcharge.

 

Withdrawing funds from a Thai bank ATM which has funds already deposited, there is no charge yet, at least with Bangkok Bank.

[2lz2p]

The Thai Bankers Association, which apparently has some control/administration of the ATM network in Thailand voted in March to impose a 150 Baht fee for using foreign ATM cards (ATM cards from Thai banks not affected - same charges, if any, as always). Previously, there was no charge for using foreign ATM cards at Thai bank ATMs except for fees charged by the bank issuing the card.

 

IMO the rate is outrageous -- a nominal charge of say 50 Baht would seem more reasonable, especially since there was no charge before. Once the "word" gets out, I think most tourist will switch to Travelers Checks or even carrying large sums of cash, especially since many banks (in the USA, at least) charge a high fee for using their card internationally.

 

When my bank was bought out by Chase, Chase brought in their charges - International ATM fee $3 + 3% conversion fee + lousy exchange rate. Also, they limited my daily withdrawal to $400 (about 14,000 Baht at current exchange rates). So, to draw out 14,000 Baht, the fee would be $3+$12+$5 (estimate of difference in exchange rate) for a total of $20 per transaction. That drove me to establishing accounts with a couple of Internet Banks that did not charge fees or conversion rate and also gave me a daily withdrawal rate of $1,000.

 

Many of my friends and acquaintances that live here did not want to deposit (transfer) a large amount of funds into their Thai bank accounts - preferring instead to use their US ATM cards (most with banks that did not charge fees). So, the new 150 Baht charge will affect them and probably cause them to seek other means of getting funds - such as wire transfers to their Thai bank accounts and then using their Thai bank ATM card.

 

Myself, I generally quit using my US bank ATM cards a little over a year ago - opting instead to using one of my US Internet Banks that sends "electric" checks to anyone with an account in a bank in the US bank system (having an Automated Clearing House (ACH) number). These "electric" checks have no fee involved. Now I send an "electric" check to myself using Bangkok Bank's New York Branch's ACH number and my Bangkok Bank Pattaya Brach account number. The NY branch charges a fee based on amount of funds involved ($10 if between $2,000 and $50,000). Bangkok Bank in Thailand charges a 1/4 percent fee for converting the funds to Baht here in Thailand using their regular rate of exchange (minimum 200 Baht, maximum 500 Baht). Based on the amount I transfer (electric check) each month, the total cost is a bit less than $20. It takes about 3 business days from the time I send the funds until they are deposited in my Thai bank account.

 

Bangkok Bank will probably start making the 150 Baht charge as soon as they get thier ATMs configured -- the following announcement is on their web site:

 

 

International Cards – ATM Withdrawal Announcement

 

The Thai Bankers’ Association has announced a new regulation

permitting banks to charge a surcharge for ATM withdrawal

transactions on VISA, MasterCard and JCB cards issued by banks

in foreign countries or any other bank or financial institution not

an ATM Pool member (e.g. AEON card). The surcharge will be 150Bt

per transaction and will be in effect from 17 April, 2009.

 

 

[Gaybutton]

Maybe some people who reside in Thailand will opt to do what I do. My monthly income is direct-deposited to Bangkok Bank's New York branch and goes into my Bangkok Bank account here the same day. The fees are very nominal, about a total of US $6 including everything.

 

Once the money is in my account here I don't have to bother with foreign ATM cards at all. I can withdraw funds from any Bangkok Bank branch office or ATM without any fees. If I use a different bank's ATM the fee is 25 baht. I can pay most of my bills online. I can even do that via secure mobile phone service now. I have access to as much money as I want any time, day or night. If I need more than an ATM will allow, I can go to any Bangkok Bank branch and withdraw whatever amount I need.

 

No fees for any of that. Those of you who reside in Thailand can do whatever you want, but for me the way I do it is very easy, never a problem, no need for complicated methods of receiving funds, and I don't have to worry about fees at all. If it is possible for you to receive funds by direct deposit, you might want to consider doing the same thing I'm doing.

 

There is another potential problem using foreign ATM cards. Last night I had dinner with an American friend who lives in Pattaya. He had a little story to tell me. He uses his foreign ATM card. Unfortunately, just a few days ago the ATM he was using ate his card. He did not have a spare second card. He called the Pattaya branch of the bank and was told he can retrieve the card the next day if he goes back to the same ATM at 1:15. He went back, waited about 45 minutes, and gave up. He called the bank again and was told he could go to the branch office and retrieve the card there . . . the next day. He went. They didn't have the card. They called their main office in Bangkok and there was no record of his card at all.

 

Of course, now he had to call the USA and cancel the card. They're mailing him a new one, but at his address in the USA, not in Thailand. Fortunately for him he is going back to the USA anyway. He's on the plane now, as I write this, so his new card ought to be there shortly after he arrives. But if he wasn't going back to the USA, your guess is as good as mine as to how long it would have taken him to somehow receive his new card.

 

Last year, another friend had a similar experience. It took nearly 2 months before he finally received his new card.

 

Meanwhile, if the ATM had eaten a Thai bank's ATM card, the worst that would have happened would have been canceling that card, going to the bank, and walking out with a new card 15 minutes and a couple hundred baht later.

 

As I said, you folks can do as you want, but I think receiving funds by direct deposit and sticking to Thai banks is the easiest and safest way to go.

 

Once again, Thailand has taken a new step to make things even less attractive for foreigners. At a time when the tourist industry is begging for customers, what does Thailand do? They put in place exorbitant fees for foreign ATM cards. All these years nothing like that was ever done, so they decide to do that now. Good thinking bankers! Brilliant! The logic of this, or lack of same, is now on my "I Don't Get It" list.

[Guest GaySacGuy]

I believe the post is regarding withdrawing money from different countries via a Thai bank ATM, in which case some banks are charging a 150 baht surcharge.

 

Actually my transaction was with a foreign bank/credit union, and there was no fee.

 

To eliminate some of the problems/charges, I am using my ING Orange account. I have had it for several years, and have three banks linked to the account, including Bangkok Bank. I can transfer money from the other two US banks to ING, and then transfer from ING to my Bangkok Bank account, or make direct deposits to ING and transfer to any of the three banks. I have not had ANY charges from any of the banks involved. Hope it keeps working!!

 

I have used my US ATM a lot in the past, but not at 150 baht per transaction..that's for sure.

[Guest]

The Thai Bankers association sounds rather like a cartel.

 

Are there any bank charges for a bank account with a Thai bank? I'd hate to let them profit even more from this very high surcharge.

[Gaybutton]

Are there any bank charges for a bank account with a Thai bank? I'd hate to let them profit even more from this very high surcharge.

It all depends on what you're trying to do. To simply have the bank account there are no charges. I know of no Thai banks that charge for online banking access, however transactions such as bill payments usually cost 10 baht per transaction. Transferring money from one account to another can have a charge, depending on the bank, depending on the amount of the transfer, and whether it's an interbank or intrabank transfer. That's usually 25 baht for transfers under 10000 baht, 35 baht for transfers greater than 10000 baht.

 

The ATM card, again depending on the bank, costs 200 or 300 baht. The replacement charge for a new card when the old one expires or is lost or stolen is 100 to 300 baht.

 

In short, yes Thai banks do charge for certain types of transactions, but as you can see it's not high cost. All of the high costs seem to be for transactions that involve foreign bank accounts.

[Guest aot87]

AS of now , for my upcoming trip, i will revert to the old way of bringing travellers checks from american express.Its been nearly 5 years since i last did it this way, but no way am i going to pay the thai bank 150bhtr every time , plus my own banks charges

[Gaybutton]

i will revert to the old way of bringing travellers checks from american express.

The silver lining on the cloud is that travel checks yield better exchange rates than anything else.

 

Maybe the banks think the same way many of the bars do. We're not getting enough customers, so let's raise the prices.

[Guest GaySacGuy]

The silver lining on the cloud is that travel checks yield better exchange rates than anything else.

 

Maybe the banks think the same way many of the bars do. We're not getting enough customers, so let's raise the prices.

 

 

This definitely needs to go in your list of only in Thailand. The country is trying to encourage tourism so the banks add charges to tourist???? Maybe they figure there are less people coming to Thailand so we need to get more/person. And most tourist won't know this till they arrive!!!

[Guest fountainhall]

The silver lining on the cloud is that travel checks yield better exchange rates than anything else

 

But best to make sure you are aware of the up-front charges when you purchase travel checks. It used to be around 1%. Like all bank facilities, however, I expect charges are going up across the board - and not only in Thailand. I was just informed by my bank that the transaction fee (paid in the issuing country) for using overseas based credit cards here in Thailand has almost doubled. I am pleased I finally got a locally-based credit card a few months back.

[Guest lvdkeyes]

But best to make sure you are aware of the up-front charges when you purchase travel checks. It used to be around 1%.

When I lived in US and belonged to AAA Motor Club, I would get my traveler's checks free.

[Gaybutton]

When I lived in US and belonged to AAA Motor Club, I would get my traveler's checks free.

Me too. My bank also issued travel checks free, although they were not American Express. I forget what they were, but I never used them for fear that less well known travel checks might not be honored abroad. However, today I would have no such fear. Thai banks are quite sophisticated now, in many ways more so than American banks.

[Maple]

ATM Fees: no 150 Baht fee is charged (yet) by Kasikorn Bank (green ATM) nor Bank of Ayudhya (yellow ATM).

[Maple]

Today's update on fees for foreign ATM cards: no 150 Baht fee is (yet) charged by Bank of Ayudhya (yellow ATM). However, Kasikorn Bank (green ATM) now charges 150 Baht per transaction.

[Guest kotter]

Today's update on fees for foreign ATM cards: no 150 Baht fee is (yet) charged by Bank of Ayudhya (yellow ATM). However, Kasikorn Bank (green ATM) now charges 150 Baht per transaction.

That's annoying because I tried several banks ATM today and all charged the 150 baht. So learning The Bank of Ayudhya doesn't charge I did myself out of 145. This is because they don't match the BKK Bank exchange rate. I think that we should just pay up and forget the whole 150 baht business!!. Unless of course it means that much to anyone.

[Guest GaySacGuy]

I took money from an Ayudhya Bank ATM here in Ubon, and received 34.28 exchange rate on my money, and no 150 baht charge. Since the ATM sits next to four bank ATM in the same spot, it was a no-brainer as to which bank I selected. This was from a US Credit Union, and they charge $3.62 for an international withdrawal fee on $500.

[Guest lvdkeyes]

Today I used Ayudhya ATM with my US ATM card and got 34.36 with no fee.

[Gaybutton]

Today I used Ayudhya ATM with my US ATM card and got 34.36 with no fee.

Today I went with a friend to a Bank of Ayudhya (yellow) ATM. He pulled money with his foreign ATM card and was not charged the 150 baht fee.

 

So, as far as I know the yellow Bank of Ayudhya ATMs are the last ones that are not charging the 150 baht fee.

[Guest laurence]

To beat the system I brought some US dollars and got an exchange rate of 34 Baht/dollar on $100 bills. For an exchange of $500 it would have been just as cheap using the ATM with an exchange rate of 34.3 Baht/USD plus the 150 Baht fee.

[Guest thaiworthy]

I sent a wire transfer to my bf's bank account as usual this month. Now I am able to see his transactions online at scbeasy.com. I sent him $150 which was processed yesterday. According to x-rates, the exchange rate then was 34.38, which should have yielded 5,157 baht. Of course, he didn't get that, he got 4,908.50, which translates to about 5% less. This is in additional to the 20 baht ATM fee. The net result of this transaction is a cost of 268.5 baht! Outrageous! Another forum recommended I get the Schwab bank ATM/Visa card which has no ATM fees. I did apply for that, but I doubt it will be much different. I know he will get the whole 5,000 baht, but it will take whatever necessary dollars from my account that that bank's exchange rate decides to charge me. So in the end, all I will have saved is the lousy 20 baht, which Schwab is supposed to refund to me.

 

I'm afraid Gaybutton is right. The only way to do this is at K-bank after getting a 90-day visa, which I will do for my November trip. Now I have to figure out how to fund it on a monthly basis. If I put a 6-month supply into the account while I am there, that's 30,000 baht the boy can withdraw any time he wants. I would rather not let him do that, but fund it monthly. Am I still stuck with monthly wire transfers to my own Thai bank savings account from the regular US checking one? There is no point to doing that, as the lousy exchange rate will once again prevail. I must have missed that somewhere in the earlier posts. Do I need two accounts at K-bank? One to hold the 30K and one to fund the monthly ATM withdrawals?

 

This is a real royal pain-in-the-ass!

 

[Gaybutton]

Do I need two accounts at K-bank? One to hold the 30K and one to fund the monthly ATM withdrawals?

That's exactly what I was going to suggest. Get two accounts. Make sure he has access to only one of them. That way, from your other account you can keep whatever amount you want in it and transfer whatever amount you're going to give him online from any computer in the world. You'll still be in full control over how much he gets. I think that's the best idea. If you put 30,000 baht into an account he can access, I give it less than two weeks before every baht of it is gone.

 

Maybe it's a pain-in-the-ass, as you say, but unfortunately it's also the best available alternative.