They are proposing a 150 baht per ATM transaction fee? That's huge!
I always carry a few TCs with me as part of my money strategy. Maybe I'll be carrying more. Have you done the math lately to see if there is much of a difference in rates between TCs and ATMs, given these new fees? Cheers.
Thanks for posting that link. From what I understand it is not a proposal, but is happening -- commencing 17 April. There's nothing that I can see about this on Kasikorn nor Bangkok Bank's websites so it may be just the case with Thananchart -- which is less of a big deal as their ATMs are less common.
The press release from Thanachart said that this 150 baht fee would apply at all ATM's operated by Thai Banker's Association member ATM's. I thought that would likely include Kasikorn and Bangkok Bank and any other major bank as well.
I couldn't find any info related to this on Bangkok Bank's website either, but I wonder if this is somehow related to the Apologies Thailand campaign from earlier this year, which kicked off by reducing the amount of time tourists were granted at land border crossings into Thailand from 30 to 15 days. Yindee donrap!
There is a list of the TBA members here :
Must admit I thought it was an April Fools joke when I first heard about it .
This on top of Nationwide introducing a fee for overseas transactions.
Exacto , I havent done any math lately , and have always funded my long trips pretty much with TC's . Buying them for 0% and a 33 baht fee when cashing , while getting a better rate , has always been the way to go for me .
And I have taken some stick on here or it .
With regards to the Nationwide fee's if you read the small print the charges are only being applied from the 1st June 09 at a rate of about 1% on VISA DEBIT withdrawals. However if you get their cash card which is run by a different provider (I assume Maestro)they are still offering free international withdrawals. This is their most basic account though, as it will not let you use it for payment of goods withing shops only atm use.
See this link:http://www.nationwide.co.uk/current_account/foreigntransactions.htm
I have a Cash Card Account that I use to withdraw cash when I'm on holiday. Will I be charged?
No. Initially, only Visa debit card transactions will have a fee applied. Your cash card is run by a different provider and is only available for withdrawing cash (it does not have facilities to make purchases online or at retailers). Our Cash Card Account is our Basic Bank Account and is available/suitable for customers who meet the Basic Bank Account criteria.
I am coming out to SE Asia for a couple of months at the end of this month (29th). What do you guys suggest TC's in dollars or pound sterling? or do you still recommend the use of cards and ATM's
Well Today is the 17th , so I have been asking around .
Surprise , Surprise , the wonderful Siam Commercial Bank announced it via their ATM's today, prior to giving you money with a foreign card. The screen tells you it will be 150 Baht for the transaction and then asks you if you want to proceed.
Customers using ATMs of Bangkok Bank and Kasikorn are not being charged for the moment .
I dont know about the others, but I guess after the extended Songkran holidays , they will all be charging , well all members of the Thailand Bankers Association .
BTW , the only bank that doesnt belong to the Thailand Bankers Association is the Islamic Bank of Thailand and they don't have ATM machines .
The announcement only mentions "via ATM".
Can you do over-the-counter transactions in a branch of any Thai banks using a foreign debit card, and not be charged this fee (or is there another fee for staff assisted transactions?) Perhaps this could be done at the Islamic Bank of Thailand?
My bank already charges about 150B + 2.5% commission, so it will cost 550B to take out 10,000B cash... that sucks!
#9 amigo has been a member since 26/3/2009. Posts: 3
Hi all. I second amigo's question. This is really stunning news overall. Thailand is charging what American banks charge, which is ridiculous and even anti-consumer. It's like US banks started charging $20 bucks for foreign withdrawals.
#10 srk052004 has been a member since 22/2/2009. Posts: 23
we are members of a credit union here in the Bay Area that offers outstanding benefits with membership. One of the perks is free ATM use ATM worldwide, they actually credit our account at the end of the business day for all surcharges incurred for any ATM use and do not levy additional charges to use foreign ATMs, so it truly is free. Check out your local credit unions to see if any offer similar benefits.
Asking around , I am led to believe that the only bank that has NOT started this charge of a 150 baht is Kasikorn Bank ..... not sure why ?
As far I know , if you use your card in the ATM or inside the bank , you will be chrged 150 baht .
I have always thought TC's are best for Thailand , and even more so now . This is something I have taken a lot of stick for , on this forum in the past .
Where are all the name calling Guys now , your silence is deafening ?
I find it pretty amazing that in the current financial situation that the banks should introduce this fee.It's almost as though they are deliberatly making it more expensive for tourists to visit.I just wonder if it's aimed more at those who live in Thailand but do not have the correct visa to reside or a Thai bank account.Same as the 15 day land crossing visa now makes it more difficult for those people.
Hey all, Haven't been about much due to having a baby girl! :)
BUT IM BACK NOWOOOOWOWOWW!!!!!!!!! hehehe,
So this wont matter to me if I just but all my money in my Bangkok Bank account then. I think a bank transfer to the Thai account and a few travellers checks as a back up will be the order of the day now.
The suggestion above for a 'page' on bank fees, etc. sounds great.
For example, in Vietnam all bank ATM's impose a 20,000VN dong fee. Every ATM has a maximum limit. But, these vary. I heard DongaBank didn't impose, but last week their ATM's imposed the standard fee. On another level, DongaBank has a 1,500,000VN dong limit, others have between 7 -9,000,000 while ANZ has a 20,000,000 limit. With cautious planning, the 'price' of the ATM fee can be limited.
Laos appears to only have BCEL ATM's with a limit to 700,000kip, and a 20,000kip charge.
I could only find ANZ ATM's in Cambodia, and they charge a US$5 withdrawal fee - with a US$500 limit.
I have yet to be charged an ATM fee in Malaysia, or Indonesia.
Australia's banking regulator announced that ATM customers were being ripped off by banks, and so empowered banks to charge an ATM fee (go figure that logic!!!).
The 'price' for travellers cheques, etc. could also be 'posted'.
Thais ain't good news at all, I'm off on my first trip to SEA anf for just under 4 months, Now with Nationwide charging & ATM charges mounting looks like I'll be taking more chill out days and now planning on taking more TC's.
Jon_Mak_Mak, many congrats on the new sprog. You mentioned setting up an account in Bankok Bank and taking a bunch of TC's with how feasible is it to set up an account for a traveller?
I leave in 2 and a half weeks.
#21 Skimonkey has been a member since 16/4/2009. Posts: 40
I've been thinking about setting up a Thai bank account and looking into it a bit.It seems as though it is entirely upto the branch manager.Some branches seem to require just a passport,others a non-immigrant type visa,others a work permit or a combination of the above.Perhaps someone on the site can provide some info..
Skimonkey + Thaiman
I am at a loss. If Thai banks charge 150 baht to withdraw money from an ATM, how would opening up a bank account address the matter?
It appears there is also a charge to withdraw money 'over the counter'.
I say this according to 'ChangFai' who says (above) that the 150 baht charge is for ATM's and over the counter.
Maybe someone can confirm whether there is, or is not, a 'within' branch charge.
Thanks for your reply, the logic in my thinking and i guess Jon_Mak_Mak's as well is that in opening a local account you wouldn't be subject to charges made by your home bank as well as an ATM charge thus reducing the impact on funds only really applicable on long term trips if you were hoping to take out a weeks woth of cash at a time over a couple of months(for example). It also depends on any charges imposed by a Thai bank if you were withdrawing cash in Vietnam or any other country in the region for that matter, to see if it would be worth it.
#24 Skimonkey has been a member since 16/4/2009. Posts: 40
Thaiman, I think it's just if you're using a foreign card in a local Thai bank's ATM.
I thought Australian banks were bad - 150B is outrageous!
I have my Bangkok Bank account from a few years ago when I was living in Thailand. From what I have read the charges are for FOREIGN CARDS in ATMS. So you go on holiday and draw cash out using your Natwest, Llodys, Nationwide card etc..
They couldn't charge Thai people £150 to draw cash out everytime, that is some peoples daily wadge!!
I don't think I would open an account just for going on Holiday in Thailand I would just take some TC's and some cash all split between myself and my wife.
I don't even think I would do a bank transfer from UK to Bangkok bank now either as they have just charged my wife £29.61 (+ Lloyds £20 fee) to transfer £300!!!!!!! SKANKED!
Needles to say, we are on the phone to them today.
And everyone else.
I was thinking....
I dislike the ATM charge, but how much is any alternative going to cost me?
1% to 1.9% to load, horrible exchange rate, service commission to cash out...
So, say I 'cashed out' 10,000 baht (approx A$400), it would have cost me about A$9.
The ATM 'fee' is A$6.
Maybe the banks know that any alternative is going to cost more and so are cheekily looking after their own bottom line.
I think the only time TC's are going to be beneficial is if I only want a small amount of cash.
I'm in Koh Pha Ngan right now, and I tried to take money out from a Siam Bank and noticed this 150 baht charge, so I cancelled it. Walked 20 feet to a ATM at a Western Union and proceeded to take out cash with no fees. I also took out money at a 7-11 ATM a couple weeks ago in Koh Tao with no fees.
#30 wide_open has been a member since 13/4/2009. Posts: 8
As Travelfish notes,
"Travellers Cheques will generally have a charge of 1-3% (up to 5-6%) on purchase in your home country, then another 1-2% when you exchange them into a foreign currency (sometimes you can cash them without a fee)."
- - - -
The figures I used are for loading in Australia.
What country / company do you use to get the zero charge to load?
TC's are usually around 1% -
I have always bought TC's from Llyods/TSB bank in the UK . You do have to be an account holder to get sterling TC's free of commission , and use their telephone service , but I have used that service for the last 7 years .
Check any Thai banks exchange website , and you will see TC's have a higher exchange rate than cash .
And as I said , cashing a cheque in Thailand costs 30baht + 3 baht fee per cheque , so you want to be using higher denomination cheques .
Also , what price is the security of TC's ?
I get my TC's at zero cost as well through either of the two banks here in the US where I have accounts. Plus, I can confirm that the exchange rate for TC's is better in Thailand than the rate for cash.
What I don't know right now is how that higher exchange rate for TC's stacks up against the rate for using an ATM card. In the past, the ATM rate was always a bit more favorable.
I know that my bank here in the states just initiated a foreign transaction fee as well, so that will cut into any exchange rate advantage that the ATM might have held over the TC in the past.
I won't be in Thailand until December, so I guess I won't be able to compare the actual cost of say a 10,000 baht exchange transaction for ATM vs. TC until then. But I'd love to hear from others who are in country right now to learn what the actual fees they are paying turn out to be for any foreign exchange they are doing. Cheers.
In Australia, banks (etc) that use Visa rely on the Visa exchange rate - which is pretty good.
Compare this with the 'international' mid market advisory service at:
Clearly, if you could get money at just the Visa rate, you'd be laughing.
Mastercard don't publish their rates..
THe charge is for foreign cards only - I'm told also that it only applies to credit and Debit -Visa/Maestro - I wonder what about ordinary ATM cards??
#36 khunwilko has been a member since 27/1/2007. Posts: 560
I note 'wide_open' observed a 'feeless' transaction at Western Union & 7-11 outlets. This suggests that either the 150baht fee is being driven by only some financial institutions against OC cards.
You suggest that it is "Visa/Maestro".
Does this mean Mastercard cards aren't part of the rort?
The Bangkok post this morning is reporting that the Thai Bankers Assc. is asking local banks to look into the ATM fees. The banks say it is because of increased inter bank rate increases but Mastercard say it hasn't raised rates since Jan. of 08.
I have a Siam bank account. Transfer money from US account. Seem to be charged the same by my bank nomatter how much I transfer at any given time. So I make one transfer a month. If I use my Siam debit card at another banks ATM there is a 30 baht fee. Don't know if I save any money doing it this way but I needed it for my retirement visa.
Siam was the easiest to set up an account with. The agricultural one actually told me I had to be married to a Thai woman to open an account.
#38 neosho has been a member since 13/8/2008. Posts: 386
As an aside, using my Kasikorn Bank ATM card outside of Thailand costs me 200B per transaction ... like I said, don't get me started on banks.
Apparently Kasikhorn is now charging
An idea of what an imposition this is can be got from seeing how many people have viewed this thread in comparison to others!
#42 khunwilko has been a member since 27/1/2007. Posts: 560
Does anyone know if you have to have some kind of account with Western Union for free transactions w/ their ATMs? How common are their ATMs in Thailand and Cambodia?
I'm leaving in about 2 weeks and need to figure out how we will be handling money, especially with these stupid fees. My bank charges $1US for international withdrawals, but adding that to 150B and it becomes rather steep.
@Changfai - where are you cashing the cheques to get that kind of rate? I'm pretty sure I can get the cheques for free, so that may be a better option than I originally thought.
#43 sacredchao has been a member since 12/6/2009. Posts: 10
BTW - the travellers cheques that I can get would be AmEx, if that matters at all.
#44 sacredchao has been a member since 12/6/2009. Posts: 10
Your bank can advise on the cost of 'cashing' TC's in Thailand. But, remember, it's not only the transaction fee's, it's also the exchange rate.
Noted above is that there are at least 2 banks not charging for cash ATM withdrawals on overseas cards...
Bank of Ayudhya
Goverment Savings Bank
Then there's Western Union. Maybe you could go look on the web for their branches.
But, depending on where you go, and what services you consume, a plastic card can be used for purchases widely across Thailand.
Just dragging this one back from the depths as I'm heading to Thailand on Saturday 31st Oct for 2 months and wondered if anyone has any up to date info on these charges?
I have a Nationwide ( British ) Visa debit card and will primarily be using that for getting at my cash. I know they are now charging a 1% fee for all transactions outside of Europe but haven't heard much on the Thai bank charges of late so was hoping someone would be able to update me...
Hopefully there are ways to avoid the extortionate 150 baht charges per transaction as I hate 'buying the machine a drink' everytime I want to get at MY money!!!
#46 bronzedwarrior has been a member since 23/11/2007. Posts: 41
The Nationwide fee is 0.84% - it was supposed to be going up as Visa were supposed to be putting up the charge, but this never happened.
All I can say on the ATM withdrawal fee front is that my Dad used one of the yellow ATMs (can't remember the bank name, but it was the one outside Starbucks on Kkoa San Road) and the machine made no mention of charging him 150B and as they have to advise you of the charge, it would seem this machine was fee free.
Hope this is of some use...
Thanks for the update, Tails101...
That'll be 'Bank of Ayudhya' I think.
I had heard they weren't charging but have just read that, in the past week or so, people have started to be charged when using these too.
As I understand it ( After some half arsed research on various forums ), there is only one mainstream bank that now doesn't charge the fee - AEON.
Not heard of this bank before and the ATMs they do have seem to be few and far between ( Think mainly in shopping malls and Tesco supermarkets!? ). There website has a good search engine that lists them all.
I'll be in Bangkok in 4 days so I'll check it out when I get there and report back later...
#48 bronzedwarrior has been a member since 23/11/2007. Posts: 41
Well - Im off tomorrow - And I'm pissed about these new charges. If I find any useful info I'll post back. BUT - assuming the VISA charge is 1.00% (website), that you get 55THB to the GBP, and you get charged 150THB per transaction, you are looking at the following percentage taken away from you if you withdraw the amount of THB below.
So basically - take out at least 10000 baht each time. Crazy!
GBP THB ACTUAL THB PERCENT
£10.00 550 39.45 28%
£50.00 2750 51.45 6.5%
£100.00 5500 52.95 3.7%
£200.00 11000 53.7 2.4%
£300.00 16500 53.95 1.9%
#49 Hennners has been a member since 8/11/2009. Posts: 5
I have been dodging the 150 baht fee by simply doing all of my bank transactions with a teller at the window instead of using the ATM. Some banks don't seem to like this and direct me back to the machine outside to get taxed, but some have no problem. I would recommend Siam Commercial Bank, just look for purple and gold. Cheers!
#50 PDX2BKK has been a member since 27/9/2009. Posts: 10
They don't actually deduct the 150B from what you withdraw, rather add it on to the your transaction - so if you ask for 5000B, you will see on your bank account that you have withdrawn 5150B. I know it doesn't make much difference to the overall cost but felt it worth a mention.
Also, whilst TChqs may be cheaper to cash in Thailand, its not quite the same story in Cambodia from my recent experience. The most expensive ATM charges $4 (ANZ) for international debit (/credit but I'd never recommend using a credit card to get cash) card withdrawals but there are plenty of free banks if you look around. The banks charge a minimum of $5 to cash a TChq...
Also, the exchange rate I purchased my TChqs at in the UK (and I looked around) was nowhere near the exchange rate I would have got via a Nationwide ATM cash withdrawal whilst in Cambodia, even with the 1% fee.
Also, FWIW, it is only Nationwide (as far as I'm aware) that just pass on a 1% fee on overseas cash withdrawals). Most other banks will charge a 2.75%+ commision fee plus a 1.5% cash withdrawal fee, with a minimum charge of £1.75+.
I'm in Thailand now and the Bank of Ayudhya is currently not charging any additional fee.
It was 15 baht until about 2 weeks ago but that now seems to have been reduced to zero.
So hunt out those yellow ATM's...
#53 bronzedwarrior has been a member since 23/11/2007. Posts: 41
we didn't have the same luck bronzed did with the no fee ATM, at least not at the Bank of Ayutthaya ATM in Lampang. it charged the same 150 baht fee we've been seeing everywhere else on this trip.
we'd be interested to see if anyone else had better luck with those distinctively yellow BofA ATMs or not. cheers.
Maybe it has something to do with the actual bank card.
I bank with Nationwide, the British building society.
That could be the key as those yellow atms are still not charging me. All the others do still though and its daylight robbery.
#55 bronzedwarrior has been a member since 23/11/2007. Posts: 41
Can someone please boil this thread down to something I can understand. I will be in Thailand in about 3 weeks. I plan on bringing a couple hundred US dollars in cash and several hundred US dollars in travelers' checks. Where is it best to convert my US cash into Thai baht and will most businesses take US travelers' checks or do I need to exchange them for Thai baht cash.
I am going to try to avoid using an ATM because my US bank charges 1% plus whatever the ATM fee is and ??? exchange rate.
#56 husqvarna has been a member since 7/9/2009. Posts: 47
You'll need to exchange the TQs at a bank or exchange office for cash -- the vast majority of businesses will not accept them. Same goes for the cash -- you'll see some variation between offices but for a few hundreed bucks it won't be a big deal.
I wouldn't by baht before leaving your home country -- do all your exchanges in Thailand.
Hope that helps!
Somtam: Thank you very much. Your reply definitely gives me concrete info regarding how to manage my money.
#58 husqvarna has been a member since 7/9/2009. Posts: 47
I can confirm that using a Nationwide Visa Debit card, cash withdrawals are free at Bank of Ayudhya ATMs in Nakhon Si Thammarat, Ranong, Koh Tao, Chumphon and presumably everywhere else.
The actual exchange rate you should get can be found here: http://corporate.visa.com/pd/consumer_services/consumer_ex_rates.jsp
Nationwide's bank fee is 1%.
#59 grasslizard has been a member since 22/1/2010. Posts: 1
can this be a sticky please?
LISTING ALL THE BANKS THAT DO AND DO NOT CHARGE A FEE TO WITHDRAW MONEY.
i know many uk bank credit/debit cards chArge an automatic fee (WITH THE EXCEPTION OF A NATIONWIDE CASH CARD) but could you plee list the banks clearly in thailand that do not charge the extra 150bt fee or whatever it is REGARDLESS OF WHAT CARD YOU USE.
#60 ceedee1 has been a member since 20/1/2010. Posts: 59
For anyone who is withdrawing cash from a EU country in Thailand usually has to pay 150 THB. Stop it! I spent thousands before I guess. Just got an account and VISA card for free (no FEES at ALL) and get the 150 THB refunded. Not only available for people from DE / A / CH, but for everyone speaking a little German or is willing to use a German Online Account interface.
FYI: All savings are INSURED by the German government! No fishy bank at all. Check it out:
#61 dkanalie has been a member since 29/4/2011. Posts: 3