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ATM surcharges on cards issued by non-Thailand banks (THB150-220 per transaction)

ATM surcharges on cards issued by non-Thailand banks (THB150-220 per transaction)

Old Feb 6, 2010, 8:50 pm
  #166  
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Hi PETEFLYS. Opening a bank account is a simple process, or completely impossible, depending on the attitude of the staff. I opened my Bangkok Bank account years ago, with just a 30 day stamp in my passport. As I understand it, many banks will insist that you have a Non-Immigrant visa before opening any account. As far as I'm concerned, some banks will waive the requirement, but you won't have access to internet banking, etc without the Non-Im Visa.

I'd suggest Bangkok large branches of the main banks, either Siam Commercial or Bangkok Bank. Thanachart bank has a large foreign ownership, which may or may not make them expat friendly.

Even if a Non-Im Visa is needed, at a few hundred dollars, you'll quickly recoup your outlay saving $5 per ATM withdrawl. As long as you use the branded ATM of your home bank, within the province, there will be no deposit, withdrawl, or monthly fees.
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Old Feb 6, 2010, 10:55 pm
  #167  
 
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Originally Posted by PETEFLYS
Ok I am tired of the ATM fees! THis may be a little off topic but does anyone know how difficult it is to open a bank account with debit card in Thailand for a US citizen. I figure I have a permanent Thai phone number and Skytrain Card I would like to open an account there. Which bank would be the easiest to transfer funds in and out from the US or internet?
Unless you live in Thailand more than 6 months in a year I would not recommend getting a local bank account. It will be more hassle than you can imagine to manage, you will get hit with some local fees (annual ATM fee, ATM fees outside your home bank, wire xfer costs) and pretty much zero interest.

I’d recommend getting a free debit Visa card in the U.S., especially one which has no foreign ATM fees, or reimburses for them (credit union, Schwab) or another Visa debit card (Fidelity; no foreign ATM fee) and then using an AEON ATM. Or bring cash or Travelers Checks.

If you must have a local account you can try the Bangkok Bank branch on Sukhumvit Road between Sois 6 and 8. Go upstairs, bring your passport, and they may allow you to open an account, even though by most accounts it is not permitted without a visa and work permit. Bangkok Bank charges 300 THB per year for ATM fees, which lets you use any ATM up to some threshold, then you start paying for using a non BB ATM (or a BB ATM outside of Bangkok), ~ 25 THB.

I have accounts at SCB and BB, and use a Fidelity Visa debit card at AEON ATMs. I sometimes wire xfer money from the U.S. via BB.

Last edited by lomatopo; Feb 7, 2010 at 2:42 am
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Old Feb 7, 2010, 5:06 pm
  #168  
 
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If you want to open an acct. it is simple. K-Bank (Kaisikorn) right next to the Villa Market (near Phrom Prong BTS) on Suk.

In and out real fast, small fee to set up, did on a 30 day stamp, you can get a debit/ATM card that works as a CC I think and internet banking.
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Old Feb 10, 2010, 7:18 am
  #169  
 
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Originally Posted by RS250Racer
In and out real fast, small fee to set up, did on a 30 day stamp, you can get a debit/ATM card that works as a CC I think and internet banking.
While I did the same with Bangkok Bank about 3 years ago I wasnt able to get internet banking. May I ask how long ago you did this?

F.R.
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Old Feb 22, 2010, 7:25 pm
  #170  
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Just got back from a 3-country Asia trip where I funded the Thai part entirely via traveler's checks, even though Malaysia and the Philippines were still fine for ATMs.

Saw a number of foreigners using ATMs around Sukhumvit, though, probably first-timers who just assumed it was the best way to go or didn't do enough homework before the trip. If they can't figure out how badly they got gouged right away they'll certainly see it in their statements.

Bangkok Bank also was still doing over-the-counter Visa cash advances with no commission. I know many large banks really sock it to customers for cash advances, but if you're lucky to have a Visa from a credit union that doesn't charge an upfront cash advance fee then it's an alternative.

And lest we forget, the banks charging the fee already have been collecting an "interchange fee" for years, so it's not as if they were providing anything for free. You're just being charged twice now. And the way they implemented it was blatant price-fixing and collusion.
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Old Jun 19, 2010, 5:28 am
  #171  
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Just talking to a guy at the airport who told me that the Thai banks have increased (even more) the fees for ATM use by foreigners. But, he was a little weak on the details.

Any FTers have some info on recent developments re Thai ATM use?
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Old Jun 19, 2010, 9:00 am
  #172  
 
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Originally Posted by RustyC
Bangkok Bank also was still doing over-the-counter Visa cash advances with no commission. I know many large banks really sock it to customers for cash advances, but if you're lucky to have a Visa from a credit union that doesn't charge an upfront cash advance fee then it's an alternative.
What if you just got a "cash advance" off of a Visa Debit Card then? I've done that before in other countries when I could not find a working ATM and it posted just like any other debit card transaction.
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Old Jun 20, 2010, 7:55 am
  #173  
 
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Originally Posted by tide
I used a Schwab ATM card at a BangkokBank ATM at BKK last month. 150B fee was disclosed and printed on ATM slip - Schwab reimbursed this automatically (US$4.50) at end of month with no action from me.
Since this thread has been resurrected, I thought I'd mention that it's the same thing with my E*Trade money market ATM card - automatic reimbursement of the 150 baht fee.
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Old Jun 20, 2010, 8:38 pm
  #174  
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That's great news about Schwab.

Thanks for the info.
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Old Jun 20, 2010, 10:44 pm
  #175  
 
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hi, i read through all of this tread and wanted some clarifications from those who know and also to summarize.

it seems as if amex t-cheques are the best things to use in thailand, as they have a flat fee to exchange. the airport exchange rate is not as good as inside the city. however, might be the best way to get cash at the airport to pay for the taxi.

unless using an atm card that reimburses the 150 baht (ie schwab,etrade), there will be a card 150 fee. there is an option for those who come frequently to wire money and start an acct there.

so, my question is: what would you suggest that i do on my honeymoon for cash. I believe its best to buy t-cheques and have them exchanged once in the airport for cash, then in the city again. i could use an atm and just exchange it once for a large sum (not sure if i want to carry that around).

Thanks in advance. Im going to be on leaving for my honeymoon next week.
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Old Jun 21, 2010, 7:01 am
  #176  
 
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As I discovered on my last trip, it can be a bit inconvenient to cash t-cheques: most banks require your passport and you have to wait in line and go through all the documentary formalities. The government-required fee per t-cheque is 30 baht. If you're cashing five $100 Amex t-cheques, that's 150 baht, same as the ATM fee. If you can get your bank or Amex outlet to give you t-cheques in $500 denominations, that'd save 120 baht per $500.

Some Thai ATM's will dispense as much as 20,000 baht in one shot, provided your bank will permit a withdrawal in such a large amount (about $660). The most I've been able to withdraw in one transaction is 10,000 baht (about $330 these days). With the fee imposed, that works out to about 50 baht in fees per $100, or 20 baht (66 cents) more than the hundred-dollar-denomination t-cheque route. I've decided that's not worth the cheque-cashing hassle for me most of the time.

I'm leaving out of this comparison variations between the exchange rates for ATM withdrawals and t-cheques and any fees you may have to pay to purchase the t-cheques (my bank doesn't charge for them, but also doesn't have the $500 denominations). Cashing t-cheques, most Thai banks give you about a 1% haircut off the interbank exchange rate. My American bank basically gives me the interbank rate, then imposes a lovely 3% fee. So I am losing about another 2% by going the ATM route over t-cheques. If I factored that in (I usually ignore it), it might make a difference. But enough of one? Ehh.

The bottom line, then, is either get a friendly bank like Schwab or e-trade that will refund the Thai fee, or just do your exchange transactions in large enough sums to reduce the bite that the fees take: $500-denomination t-cheques, 20,000-baht ATM withdrawals, and 10,000-baht ATM withdrawals are probably the best.

For me, I'm going with the 10,000-baht ATM withdrawals, except when I'm planning on especially large outlays of cash, such as to a tailor. In those instances, I'll try and get the big t-cheques.
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Old Jun 21, 2010, 7:26 am
  #177  
 
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Originally Posted by biggestbopper
Just talking to a guy at the airport who told me that the Thai banks have increased (even more) the fees for ATM use by foreigners...Any FTers have some info on recent developments re Thai ATM use?
The fee was still 150 when I was there at the end of May. There is no indication from the thaivisa.com forum of any change.
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Old Jun 21, 2010, 4:02 pm
  #178  
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How about the AEON ATM machines at Big C?
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Old Jun 25, 2010, 4:51 pm
  #179  
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Originally Posted by MegatopLover
Some Thai ATM's will dispense as much as 20,000 baht in one shot, provided your bank will permit a withdrawal in such a large amount (about $660). The most I've been able to withdraw in one transaction is 10,000 baht (about $330 these days).
I've had no trouble pulling 14,900 or 15,900 baht (a bit under or over $500) from my Citi account; last couple of trips, I've pulled from the bank inside Siam Paragon a level or two under the movie theater. (I'd also note pulling #,900 baht is a good trick for anyone to get some small money.)

I've never had a ATM outside the airport reject any amount I've tried; the airport arrivals-level one I tried last time was limited low enough that I couldn't pull 10k baht.
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Old Jul 3, 2010, 1:16 pm
  #180  
 
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Originally Posted by biggestbopper
That's great news about Schwab.

Thanks for the info.
I too use a Schwab debit card, been for years.

OT: for overseas charges, Cap1 is best (as reported in many places). ZERO fees period!
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