RoninTech

Got in touch with our hotel in Hat Yai and they confirmed that the banks will be open when we get there. So best case Hat Yai bank, worst case Hat Yai ATM.

Thanks again everyone! ^

WRDodson

I would also like to know the answer to this question

ShrinkTheGlobe

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tide

I believe the answer is no. It is MC or Visa that sets the exchange rates, not the banks (either your bank or bank that operates ATM)

Several years back, I experimented with this and IIRC, every transaction posted with rates that matched rates published by MC/Visa, irrespective of bank or bank location (I regularly withdraw @ BKK because I believe it to be safer against skimming - maybe/maybe not)

Now on the other hand, there is a difference between MC and Visa rates due to the way I believe they calculate intra-day rates.

goodeats21

Thanks for the reply. Are you saying MC or Visa sets the exchange rate for ATMs? I assumed the bank set the rate for the ATM card (if not a Visa or MC being used in the ATM).

I was not aware until recently that BKK exchange booths gave a lesser rate than the banks in town. I was just curious if BKK ATMs operate the same way.

When I need to pull cash out of the ATM at the airport (when I do not have enough Baht left over from a previous trip), I go ahead and pull out a large amount to avoid another 150 baht charge later. Even if the ATM exchange rate is different, now that I think about it the rate differential probably would not be enough to offset another 150 baht charge....

More curious than anything....not talking about thousands of baht in my case.

Anyone else have any experience?

tide

Sorry for the confusion. I was talking about ATM, not credit cards. MC and Visa run the interbank network for ATM cards as well - e.g. Cirrus/Plus respectively. Your ATM card will probably display one of these logos on the back of your card. MC/Visa publish daily exchange rates they use for posted transactions using their network (ATM or CC). My experience has been that my ATM withdrawals appear to match that.

If you have a need to withdraw cash internationally, perhaps you should look at banking options that rebate you the fee e.g. Schwab/CapOne etc as many of us here have. Or use Aeon Bank in Thailand (they don't charge the 150B fee) - their ATMs though, even when present in a location, can be hard to spot because it's just often a free-standing kiosk. Tip: look for clusters of ATM kiosks, they are often clustered together with other smaller banks' ATMs.

transpac

I agree. An ATM withdrawal from an SCB or TMB ATM within the airport would yield the same net USD debit as an ATM outside the airport. Both would include the 150 THB fee of course.

As a single data point: I did an AEON withdrawal yesterday (full branch with two ATM machines within, Terminal 21/Asoke BTS, LG014, lowest retail level: http://www.terminal21.co.th/main/directory ) so no 150 THB fee, my rate was 31.58094, SuperRich was 31.40 for $100 bill, I was there yesterday also, exchanging Euros.

olisch

This is a nice website, where you can see the differences between the exchange rates from bank to bank: Bank foreign currency exchange rates

Sirhalberd

Sirhalberd, since you are familiar with Hat Yai, any idea what time the banks close on a Friday? We've always shown up in Thailand with our Baht so have never needed to use banks there before. We should be in downtown Hat Yai (Centara) around 3-3:30pm on the Friday we get there. We leave at 9am for the coast the next morning so no time for any running around and since it's a Saturday I imagine the banks wouldn't be open anyway?


I always came in by train when I was in Hat Yai. I stay in the area not far from the Robinson Department store which is not far from the train station. I don't recall any problem finding a bank to change money over. The last time I was in Hat Yai was when the airports were closed in Thailand and I had to make it to Singapore to fly home. Years before that I made a couple border visa runs. Some banks may have evening hours like in Bangkok and other cities where tourists are around.

When I am in Thailand I use two different debit cards from my home credit unions. Those credit unions pay for some of my overseas ATM fees too. Also they issue travelers checks without any fees too. They have a withdrawal limit of $500 per day. If needed, using both cards, I could get a thousand dollars a day from an ATM. Even with the 150 baht fee, around $5, that is not too bad to have immediate access to the equivalent of $500 cash.

I found a link that said there was an Aeon Bank available:

The main AEON office is in Niphat Uthit 1 Road and there is an AEON branch and ATM in Carrefour.

(Some Carrefour Malls are converted to Big C now.)

There are some banks on this rough map:
http://jadn.co.uk/w/HatYaiStreetMap.htm#map

And here: http://www.bankthailand.info/travel/Songkhla-Bank.htm




Have a nice holiday.