150 Baht ATM Fee FOR WHAT?

[BobHelm]

In reply to your question jimboLV, personally I have not (& would not) use a foreign card to purchase anything from anywhere in Thailand. I use ATMs only & am VERY careful to ensure that the 'workings' of it are standard & that it is impossible for anyone to observe my pin number. I would see using it for general purchases as an invitation to have my card used by all & sundry. I use my card 'on line' constantly when in the UK (& purchasing from UK based companies) - I would NOT consider that in Thailand either (& I have a lap top that no-one else uses).
Maybe call me paranoid; but my legal protection in UK is 100% - in Thailand it is zero percent & is one of the problems that Thailand has to address before it can 'move forward'.

Tafia, that is indeed bad news.....

[Mainer]

In reply to your question jimboLV, personally I have not (& would not) use a foreign card to purchase anything from anywhere in Thailand. I use ATMs only & am VERY careful to ensure that the 'workings' of it are standard & that it is impossible for anyone to observe my pin number. I would see using it for general purchases as an invitation to have my card used by all & sundry. I use my card 'on line' constantly when in the UK (& purchasing from UK based companies) - I would NOT consider that in Thailand either (& I have a lap top that no-one else uses).
Maybe call me paranoid; but my legal protection in UK is 100% - in Thailand it is zero percent & is one of the problems that Thailand has to address before it can 'move forward'.

Tafia, that is indeed bad news.....

If you have an ATM debit card (with a credit card logo, such as VISA), you will be covered 100% for any stolen card use or fraud, no matter where it happens. My ATM/debit was stolen and used by the thief at Tops here in Udon and again at a Pattaya resort. Although a pain to deal with, I got all the charges refunded to my VISA account.

Which leads me to another issue. I recently called my credit union in USA and told them I didn't want an ATM/debit card with a VISA logo because I like to carry my ATM with me and fear of theft again. She said she issue me an ATM card (not debit card with VISA on it). This way, I am safe even if the card is stolen or lost because no one can use without the pin number. And as a bonus, there is no international fee as there was on my debit card.

Can someone tell me where the Thai banks get the 150 baht fee? Is it from the foreign banks? I see they say I will be charged a fee, but I have never seen any withdrawals from my USA credit union.... only a 1% international fee, which will end when my new ATM cards arrive....

[Lee Rhodes]

· Open a Thai bank account.
· Transfer money to your Thai bank account from home bank and pay transfer fee.
· Withdraw money from Thai bank account, (Siam Commercial/Kasikorn).
· Do not pay 150 Baht per withdrawal.

Rocket science?

[macduff]

Well for the chosen few of us with thai wifes it seems the only way to withdraw money from ATM's is to use the wifes bank account

[BobHelm]

I am still not getting the 150 baht charge from GSM ATM in Nong Khai!

Up until recently free in Udon too, but now charging the 150 B.

Not charged a fee at this ATM situated outside Big C in Udon Thani Today !!

[old-timer]

Not charged a fee at this ATM situated outside Big C in Udon Thani Today !!

sAME AS YOU bOb..BLOOdy CaPs lOCk stUck aGain...all I can say is the yellow atm machine outside the big c seems to let you get your money out of the bank without this 150 baht charge..and it's got a 20k button.
O/T... reporting not on one of his threads... but this information is vital...

[macduff]

I think the best way to use my uk account in thai is to transfer funds which will cost about 25pounds and during my stay use the wifes atm card to withdraw for free.

[Tafia]

Up until recently free in Udon too, but now charging the 150 B.[/quote]

Not charged a fee at this ATM situated outside Big C in Udon Thani Today !![/quote]

Seems to be a bit of a lottery then Bob, I was never charged at any of the GSB until last week when I used the ATM in the Complex (almost opp Kasikorn Bank) and the 150 B charge came up.

[BKKSTAN]

· Open a Thai bank account.
· Transfer money to your Thai bank account from home bank and pay transfer fee.
· Withdraw money from Thai bank account, (Siam Commercial/Kasikorn).
· Do not pay 150 Baht per withdrawal.

Rocket science?

If you are able to do the transfer while you are in Thailand!

[laphanphon]

the problem is, which i haven't even asked my usa bank yet, how much it would cost to transfer funds to thai account, if any. but from what others say, it's more expensive than the outrageously expensive 150 baht..........again, to access your own money. so if a transfer fee of 1 %, added to exchange rate, which seems to differentiate with different banks, why bother. have to email my bank. will report back.

[jetdoc]

· Open a Thai bank account.
· Transfer money to your Thai bank account from home bank and pay transfer fee.
· Withdraw money from Thai bank account, (Siam Commercial/Kasikorn).
· Do not pay 150 Baht per withdrawal.

Rocket science?

Seems most transfer fees are about 1%, The 150bt fee is only .75%, you're correct not rocket science, ATM still works for me.

[Galee]

I prefer to transfer my money into my Thai bank, which for me is cheaper. One transfer of 5K GBP is 30 pounds. By my reckoning that would take me roughly 26 withdrawals at 10K a time. At 150Baht a withdrawal that works out at 3900baht, (74GBP), to with draw the full 5K of GBP if I used my UK ATM card. I agree with Lee, not rocket science and I have no problem transferring the money over to Thailand. Takes about 3 minutes on the phone.
I suppose it all depends on what denominations of money were talking about per transaction.

[laphanphon]

makes it .6 % for you. i'm presently at about .9, since limited to 500 usd a day atm, just asked to jack that up to 750, then i can take 20k instead of 16.5 out, get it down to an acceptable .75, unless my bank gets back to me with cheaper option. really hate the idea of paying for my money.

[BobHelm]

Used the yellow ATM (GSM) in the complex today - no charge....

[Mainer]

I have not got a response to my question I posted earlier. I ask again.

Can someone tell me where the Thai banks get the 150 baht fee? Is it from the foreign banks? I see they say I will be charged a fee, but I have never seen any withdrawals from my USA credit union.... only a 1% international fee. Thx.

[jetdoc]

I have not got a response to my question I posted earlier. I ask again.

Can someone tell me where the Thai banks get the 150 baht fee? Is it from the foreign banks? I see they say I will be charged a fee, but I have never seen any withdrawals from my USA credit union.... only a 1% international fee. Thx.

I usually withdraw 20,000 at a time, the receipt will show a total withdrawal of 20,150 but only gives me 20K. I think the bank gets theirs at the same time I get mine.

[BobHelm]

In my case when I have been charged it is always like this...
Request 10,000 baht. 10,000 baht cash delivered... slip says 10,000 baht withdrawn & 150 baht fee (Total 10,150) withdrawal amount sent to HSBC 10,150 baht...converted at baht/GBP rate for the day..so GBP equivalent to 10,150 baht removed from my account....

[Lee Rhodes]

· Open a Thai bank account.
· Transfer money to your Thai bank account from home bank and pay transfer fee.
· Withdraw money from Thai bank account, (Siam Commercial/Kasikorn).
· Do not pay 150 Baht per withdrawal.

Rocket science?

If you are able to do the transfer while you are in Thailand!

Via Internet? Why not.

Convenient and safe via US ACH system and Bangkok Bank's New York Branch
Holders of US bank accounts can save on fees for international funds transfers by transferring funds from the United States to Thailand via the US Automated Clearing House system (US ACH) and Bangkok Bank's New York branch.


By stipulating the 9-digit routing number for Bangkok Bank's New York branch (026008691) in your transfer instruction, the funds will be transferred via the US ACH system directly to the receiver's Bangkok Bank account in Thailand, for a lower fee than most other international wire transfer services.

Benefits of the service
Fees for funds transfers via the US ACH system and Bangkok Bank's New York branch are up to USD 20 lower than most other international wire transfer services in the US.
You can make transfers directly online via the internet banking service provided by your own bank in the US.
You will enjoy a better exchange rate because the USD amount will be converted to Thai Baht at the daily Bangkok Bank exchange rate in Thailand.


Who can use it?
The service is available for holders of US bank accounts transferring funds to recipients with a Bangkok Bank account in Thailand. It is particularly useful for:

Making funds transfers via the internet banking services of US banks
Receiving payments from US government agencies or private organizations (Direct Deposit service)
Receiving E-Commerce payments from online payment service providers in the US.

If you have a US bank account, you can conveniently transfer funds to the receiver's Bangkok Bank account in Thailand via the internet using the US ACH system and the 9-digit routing number of Bangkok Bank's New York branch.

Benefits of the service

Fees are lower than for most other international wire transfer services in the US payment system.
You can make transfers directly online via the internet banking service provided by your own bank in the US.
The recipient will get a better conversion rate for their funds because the USD amount will be converted to Thai Baht at the daily Bangkok Bank exchange rate in Thailand.
Funds will be received in Thailand within two business days after our New York branch receives the money transfer from your US bank account.
You can check your inwards funds transfer via Bualuang iBanking for personal accounts, Biz iBanking for business accounts, or Bualuang Phone 1333 or (66) 0-2645-5555.

http://www.bangkokbank.com/

[rick]

Bangkok bank is a nice option if your cash is USA based. From UK, I am still searching for a BANK that will transfer your money without making themselves rich. Most UK banks will charge you £20-£30 for a transfer, plus possible charges Thai bank end. And heaven help you if you get the UK bank to do the currency conversion - often will charge 2.5% as well.

There are bank accounts for expatriates with lower transfer charges but these usually require high monthly fees or big balances - not something most of us have. So far, the lowest fee i have seen (without other account charges) was £14 from Halifax (up to £4,000); but you have to phone for the exchange rate on the day and i do not know if that has a hidden charge; also not clear if they will do a sterling transfer but may check this out some time.

That is why many Brits just use ATM debit cards from UK (NOT credit cards, you get screwed again). Even there it pays to check the costs, a big difference for instance between Lloyds and Nationwide. There are no longer any free withdrawals I think, now all have a 1%-2.5% charge, to which you have to add the Thai 150 baht (unless lucky with the ATM in Udon). Its not cheap but if you want your money on monthly basis possibly cheaper than a Bank SWIFT transfer and less hassle.

Finally, for the tourist, you can get commision free Sterling travellers cheques at present; I think you should be able to cash them in a Thai bank at similar rate to ATM? Anyone know? just inconvenience of going into bank.

So, those are my options - a lot just researched on Internet, so if you know better put it on here. But in the last year have been squeezed from 3 directions - exchange rate, Visa % charge and 150 baht charge. last time i was in Udon i could just take what i needed for the day via ATM at no charge; If i asked for the same now it would cost me 30% more in UK pounds.

[trubrit]

Rick. As from this month the UK govt pension is payable in sterling to your bank account in Thailand , amongst many other countries .This service is free and payable without deduction.I get the TT rate of exchange and my bank BB charges me a one off fee of 200bht per month .Of course with a local ATM I am not charged for withdrawals either .