There Maybe A Way To Beat The 150 Baht ATM Fee

[SlickMonkey]

Do you know if they charge a foreign transaction fee?

 

As I understand it, US banks charge a foreign transaction fee (typically $5) in addition to their own fee for non-affiliated ATM use + the other bank's fee.

 

If Schwab can help me avoid all of those fees, I may have to sign up!

 

I used my card for a whole year in Thailand and never got a Foreign fee or ATM fee. I got the same rates as the locals too. The ATM fees show up on your account but then are immediately refunded. You can also track your transactions online at Schwab.com

Also comes with a checking account with no checkwriting fees. My card is a DEBIT VISA card so I dont have to worry about paying a bill at the end of the month. You can also use the same account for stock trading.

 

Absolutely NO MONTHLY FEES. Period.

 

You can also walk into any bank or most exchange booths and present your passport and visa debit card and ask for money off the card. Most of the time Ill pull 25,000 baht when I do. You pay no fees back at schwab and the conversion is exactly what you see on the board. Since it is a debit card their isnt a 2-3% charge either for cash advances.

 

HOWEVER, if you charge something in Thailand sometimes the vendor will add 2-3% charge. Therefore, I always try to pay cash and if I need cash for a big hotel bill I go to the bank and present passport and CC and do a cash advance. Basically they swipe it and you sign the slip.

Simple and safe.

Edited March 10, 2010 by SlickMonkey

[Matrix]

Hi Matrix

I can see where your coming from but how many times a week you use the ATM's depends on what your daily budget is.

In july/August I will be in Pattaya for 20 nights/days. If I budget to spend 6000B a day I'll need about 120,000B. This means I'll have to make 12 withdrawals because my daily limit is 10,000B. So 12 withdrawals equal about 4 visits a week. So that would mean 1800B in withdrawal fees.

And if I budget for more than 6000B a day I'll be making more than 4 visits a week.

 

You can actually chose to withdraw 20.000 as well,so that takes it down to 6 times, so thats 900 thb.

But yes,i know what you are saying.....it can be a bit annoying when it has been free of charge before.

[JASONTHAI]

You can actually chose to withdraw 20.000 as well,so that takes it down to 6 times, so thats 900 thb.

But yes,i know what you are saying.....it can be a bit annoying when it has been free of charge before.

 

No Matrix he can't he comes from the UK and the £ is getting worse at the moment, he will only be allowed £300 for 1 day (13,000 baht) in 1 transaction if he is banking with nationwide, if he has an account with another bank then maybe he will be able to get £500 a day (24,000 baht) but there is a fee to pay for this with interest and also the 150 baht fee, one thing to remember is that the £ has dropped over 30% since 2008 and now we have to pay the 150 baht fee as well which can build up over a few trips a year, for me I will have to find over £1500 -£1800 extra due to this as I like to do 4-5 trips a year,

 

That £1500 -£1800 pays for 3/4 flights a year !!!!!!

 

I hope you understand

Edited March 10, 2010 by JASONTHAI

[sam diego]

open a Thai bank account or get a world wide no fee ATM card.

[Millard]

Any update on Jasonthai's theory of bypassing the ATM fee via the Thai language screens? It'd be great if someone could post pics of the ATM screen. I'm sure a BM could translate the options.

[BangkapiBoy]

I dont get charged atm fees at Aeon bank atms.

[JASONTHAI]

Any update on Jasonthai's theory of bypassing the ATM fee via the Thai language screens? It'd be great if someone could post pics of the ATM screen. I'm sure a BM could translate the options.

 

My step daughter has made 4 withdraws this year and has not paid the 150 baht fee yet using a Nationwide ATM card, when I am back out in August I will test her card by using it in 2 transaction one in English and the other in Thai and will let you know the outcome

 

Cheers

JT

 

PS I will not be taking pics of the screen just incase they think I am going to steal the ATM but I will let you know what buttons on each side to press

[jocky king]

I wired the money from Irish Bank to my account in Thai before I eagle landed in Bangkok... Cost me nothing to withdraw from ATM in Thailand... If I stayed in Thailand for two months, it would cost me a fortune if they charged me 150thb.. 40 x 150 Thb = 6000 Thbs... That would cost me a 6 short time sessions in Soi 6....

[JASONTHAI]

I wired the money from Irish Bank to my account in Thai before I eagle landed in Bangkok... Cost me nothing to withdraw from ATM in Thailand... If I stayed in Thailand for two months, it would cost me a fortune if they charged me 150thb.. 40 x 150 Thb = 6000 Thbs... That would cost me a 6 short time sessions in Soi 6....

 

This is what I done on my last trip but I did get charged the odd 15/20 Baht here and there but I don't mind that as this is a charge for using a different ATM Thai bank card at a different Thai bank which makes sense but what if the 150 Baht fee was bull shit and the Thai banks/government was ripping off all farangs when they make an ATM withdraw in LOS, how do you know the fee should be 150 Baht instead of 15/20 Baht ? think of all the farangs in LOS, all they need is 6700 farangs in a day to make withdraws from around different parts of Thailand and they would make 1 million baht profit in just 1 day !!!! just think of how many ATM's there are in Pattaya just alone

 

And yes Jocky King it hurts when you look at how many ST's in Soi 6 we are losing because of this I might have to end up doing this instead if things don't improve

[plahgat]

Any update on Jasonthai's theory of bypassing the ATM fee via the Thai language screens? It'd be great if someone could post pics of the ATM screen. I'm sure a BM could translate the options.

 

I've tried it and it doesn't work for me!

I think the mashine will know that you use a foreign bankcard even if you use the Thai language buttons!

I still get told in english that I will be charged 150 baht and if I want to continue.

 

Plahgat

Edited April 28, 2010 by plahgat

[blue1878]

My step daughter has made 4 withdraws this year and has not paid the 150 baht fee yet using a Nationwide ATM card, when I am back out in August I will test her card by using it in 2 transaction one in English and the other in Thai and will let you know the outcome

 

Cheers

JT

 

PS I will not be taking pics of the screen just incase they think I am going to steal the ATM but I will let you know what buttons on each side to press

Hi Jason knowing which buttons to press will come in handy but I will be in Thailand just before you. My current Thai girlfriend comes across has a fairly honest lady. So when I use my Nationwide ATM card I will ask her to press the buttons and watch what she does.

[tigerstail]

My experience-it doesn't matter what my budget is or how I try to save money or how many times I tell my BG-I broke---never gone home with any money..yet I agree- she no see my pin--she my love-- Sure-without pin.

[LISBON]

I've tried it and it doesn't work for me!

I think the mashine will know that you use a foreign bankcard even if you use the Thai language buttons!

I still get told in english that I will be charged 150 baht and if I want to continue.

 

Plahgat

I've just returned, tried 4 recommended atm's and got charged 150bht each time (4 tiger beers at Angelwitch!)C'est la vi.

[miles stewart]

the one way i know to avoid the fees is withdraw the money from the exchange places,i always use the one at the end of soi 8 next to the gold shop,never been charge any fee or currency exchange rate using the flex account debit card.

 

take out enough to put in my thai bank account.then use that card.

 

when i have used my halifax card got the 150 baht fee plus halifax's £3.00 fee on top of that as well... only did that once.

 

heres a link to nationwides fees.

 

 

http://www.nationwide.co.uk/current_account/foreigntransactions.htm

[Hancock]

Hi nationwide have several different cards if it is a VISA debit card you get charged(visa get the money not the bank) i have the nationwide cash card with no visa logo on the card,this card is for cash only i can not use it online or at retailers but i think there is no charge for withdrawls.

I will check with the misuss as she has the card i just put money in for her and my son from the uk every month.

I used my halifax visa debit card once and once only, they charge you but also take about 4 baht to the pound robbing bastards.

[blueboy0510]

I have a barclays visa debit and have never been charged at the Ayudhya (yellow) bank

[thailearner]

In January I used my Nationwide flex account at the bank of Ayudhya and was never charge the 150bht plus I got a good exchange rate.

 

Another English lad used a different Nationwide card and he was charged the 150bht

[tl6237]

I have a Nationwide Flex Account and have never been charged the 150 fee

 

I have even been to cash machines and it asked me whether I accept the 150 fee which I did and then when I returned home and checked the statement I had no 150 fees. I even went so far as to check the exchange rate used on my statement to see whether the fee was incorporated in that but comparing the exchange rate that nationwide used on a particular date with the Bank of Bangkok exchange rate for that same date the nationwide exchange rate was always higher ... I just don't get it

[tigerstail]

When I withdraw.. 10,000 baht x 10 times= 1,500 baht...usually, every trip..

 

Sh-t.. you know what I can do with that

[nivea]

I have a Nationwide Flex Account and have never been charged the 150 fee

 

I have even been to cash machines and it asked me whether I accept the 150 fee which I did and then when I returned home and checked the statement I had no 150 fees. I even went so far as to check the exchange rate used on my statement to see whether the fee was incorporated in that but comparing the exchange rate that nationwide used on a particular date with the Bank of Bangkok exchange rate for that same date the nationwide exchange rate was always higher ... I just don't get it

 

Check your statement again to see if the amount withdrawn is 150 more than you actually received.

 

I think what a lot of BM's are missing is that the 150 baht is:

 

1. Included with the withdrawal amount, so if you withdraw 10,000, your bank statement will show the withdrawal as 10,150

 

2. In addition to your home bank charges, so even if you have "no fee banking" or Charles Schwab I think it will not be refunded as it is not listed as a charge but as part of your withdrawal.

 

3. Also when BM's say 150 is not so much they forget that for many farangs you will pay $5.00 to home bank fee plus 150 baht to Thai ATM plus exchange rate worse than Thai Bank rates by about 2%.

 

So on a 10,000 baht withdrawal you get stung 160+150+200= 510 baht fee or 5% of your withdrawal. 5% in a single day.

You would have to invest the money with the bank for a year to get that kind of interest, all lost in a minute at the ATM.

 

4.For many years Thai ATM's charged much less than 150. I forget how much, maybe 20 baht, this amount was calculated by the banks to give then a good profit. The 150 increase was just a kick in the balls.

 

It's like when you go on holiday to Samui and the taxis charge 10 times the Bangkok rates. They know you have no choice and they don't care about establishing loyal customers among short-term holidaymakers. You must swallow the charge or walk.

 

But there are ways around the ATM fees, just don't expect a local bank to break down and tell you about them until the thumb screws are tightened.

[searcher]

I have the Nationwide flex account card with the visa logo on and i have never been charged when withdrawing money from Bank of Ayudaha!!

[martin81]

2 weeks ago B o Ayutthaya was still good for no fee withdrawal with 2 different VISA CC from EU country.

 

Have they really just changed this?

 

Anyway I think you will get a better exchange rate than CC with cash in £, $ or €.

 

Especially if you dont change at banks but at moneychangers at Pattaya 2 road near Walking Street.

[hobotan]

Bank of Ayutthaya (Krungsri) yellow ATM has not charged me for withdrawels with my VISA debit card, until on 9th June. SWince thwn I've done 3 20 000B withdrawels with the 150B. D