ATMs when visiting?
 

Any tips on which banks' ATMs I should stick to? I know for instance in China I'm always told to stick to the Big 4 banks and in Japan not all ATMs accept foreign cards.

I'm using my Schwab Debit card so I don't fear any fees, but just wanted to make sure I had a reliable way to get cash. Any input would be greatly appreciated.

Besides the usual advice of sticking to safe locations etc?

Any of the banks are good for you since you have the fee rebates. They all charge exorbitant fees these days for ATM withdrawals. As far as I know they all take our Schwab debit card. I haven't seen one that doesn't take it. Because of the fee rebates I tend to ignore how much they charge these days, but I think it's up to 200 THB these days.

If they ask you about currency exchange, opt out of that. I think I read that some banks are attempting to do DCC now. You just want it to go through in local currency. DCC is always bad for you.

-David

The ATM fees are now up to 220 THB per withdrawal but with the Schwab card you needn't worry.

Living here, I stick to ATMs that are physically attached to banks or located within the confines of a shopping mall because ATM skimming isn't uncommon here. Unless it's an emergency, I would avoid standalone ATMs located near street corners or outside convenience stores.

As LIH Prem mentioned, always decline DCC and take the VISA/Mastercard rate.

Kasikorn has the new 220b fee, but Bangkok bank was still 200b as of last night. Haven't tried other bank ATMs recently.

I live here too, I use the ATMs at convenience stores all the time, I guess if the convenience store was next door to a bank, I might go with the bank but only because if something glitched it would be easier to recover the card, never had a problem. Thinking about it, probably I would be too lazy and just use the one at the convenience store lol.

One thing is often the money comes out before your card, so I know people that have forgotten their card behind.

Completely agree to always say "in Thai baht" when paying with credit cards because you will get a better rate but also at some shopping malls and hotels or restaurants, I think they think they are doing you a favor and do it automatically. It's always the time your forget to say it that it happens, but generally they will void the transaction and redo it.

Am I the only one left who likes AMEX travelers checks? They're free to AAA members and travelers checks seem to have the best exchange rate at banks.

Not so much. Bangkok Bank, for example, charges 153 baht per traveler's check. Kasikorn is the same. That's a little over $4.00 US for a $100 US traveler's check. You may get a slightly better exchange rate but end up with less money due to the fees.

Superrich, which has some of the better rates for a non-bank money changer, won't even take traveler's checks. If you don't want to go the ATM route, $100 bills with no rips, tears, or writing on them is probably going to get you the best exchange rate - at Superrich or VASU (and VASU, to my knowledge, is only in Bangkok.)

I continue to use AEON ATMs with my Fidelity Visa debit card occasionally (I have accounts at Bangkok Bank and SCB for local use), mainly because there is one close by, they dish out up to 20,000 THB (some ATMs here are physically limited to 15,000 based on the height of the dispensing slot), still charge 150 baht fee (on VISA, not important to me as Fidelity returns the fee) and give the daily VISA exchange rate.

I haven't stayed up to date on how the other local banks handle VISA and MC cards re: hidden fees/poor exchange rates. There are threads on ThaiVisa with recent details I think?

The fees on Trav Checks used to be 30+3 for 33 per check, but those went up a few years ago to 150+3 for 153; I don't think anybody uses those anymore? But think you'll need to go to a bank for those where you'll get a poor rate.

There are a gazillion threads on cash exchange, but the absolute best rates are found in Pradipat Road, but it's not worth the trip for small amounts. The traders in Rajprasong/Ratchadamri Road (SuperRich A, B & C, et al.) are where most people go. Some of these shops have outlets in town, even in BTS stations, where they offer slightly poorer rates. The line at the SuperRich (green/orange I think?) outlet in the Asoke BTS station was easily 40 deep over the past few days; they only sell baht at these locations.

Wow. Last time I needed to bring money over, the fee for travelers checks was 35 baht each.

But does that rate beat a no-fee ATM transaction? Probably not, by a few percent.

Agreed. If possible I would stick to 'ATMs that are physically attached to banks' during business hours. Have heard horror stories of remote ATM's swallowing cards at inopportune times. Better to have some immediate recourse, and always have a backup card option just in case.

$50 and $100 USD notes in pristine (basically uncirculated) condition and of the latest design get the best reception. IMO it is worth the effort visiting multiple bank branches (if necessary) in your home market to accomplish this.


SL

Yes, you probably are. ATMs give currency at interbank rate and when you have a banking option that will eat the 200-220 THB ATM fee (Charles Schwab, e*Trade, Fidelity- the last two I have and they rebate the fee), there's really no reason to use a traveler's check.

Ok great. Sounds pretty reasonable. Are there any names of major banks I should stick to/look out for?

In every shopping mall there is usually a "banking" floor or area where you will find every bank and financial services company.

The top 5 banks here are:

Bangkok Bank
Krungthai Bank
Siam Commercial Bank
Kasikorn Bank
Bank of Ayudhya (Krungsri)

There are bank branches and ATMs everywhere.

I do not know which (any, all, some?) of these banks offer the interbank exchange rate at either their ATMs or their counter service - I just haven't had to stay current on this subject? Maybe review the relevant threads on the ThaiVisa banking forum to get the latest, best news.

I do get the VISA daily interbank rate (+/- a day or so depending) at AEON ATMs. They have a branch in the basement level of Terminal 21 at Asoke BTS, among other locations. (Amazingly, I get a notification from Fidelity on my phone before the cash is dispensed.)

http://www.aeon.co.th/aeon/services-...work-location/

Answer is all because it is not the banks that set the exchange rate. Instead, it is the network (Visa, MC, UnionPay etc). Of course there are rate differences between say Visa or MC on any given day, of which for THB, is usually better than a moneychanger (I've benchmarked Vasu's or SuperRich's USD100 buy rate)

Some banks like TMB allow you to take out 30k THB in one transaction which might be useful for some whose banks don't eat the transaction fee.

I had an ATM card for a couple of years in the mid-1970s, but not since. The problem was that I'd withdraw or deposit money but then forget to write it in my checkbook register. Every so often I'd have to stop using the account to let everything clear so I'd know how much money I had.