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ATM surcharges on cards issued by non-Thailand banks (THB150-180 per transaction)

ATM surcharges on cards issued by non-Thailand banks (THB150-180 per transaction)

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Old Apr 23, 09, 1:38 pm
  #16  
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Originally Posted by ScottieFlyer View Post
Any info on best bank/exchange to cash travellers cheques? Anybody know what is the largest AMEX sterling cheque denomination?
thanks, SF
There's not a lot of difference, in my experience, when it comes to the rates offered at banks for travelers' checks. I'd just take it to the most convenient locale.

500 pounds is the largest denomination.

http://www.americanexpress.com/china...oduction.shtml
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Old Apr 23, 09, 1:48 pm
  #17  
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Originally Posted by RustyC View Post
This will get an absolutely huge negative reaction. It's nothing short of monopolistic gouging. Hopefully the government will see the potential harm to tourist spending and intervene. It's out-and-out price-fixing.
The current government of Thailand has bigger issues than to look into ATM fees ... Perhaps the next government can look into this. (next week ? )
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Old May 4, 09, 12:13 am
  #18  
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Banks asked to cut foreigners' ATM fees

By: SOMRUEDI BANCHONGDUANG
Published: 4/05/2009 at 12:00 AM
Newspaper section: Business

The Thai Bankers' Association will ask local banks to cut fee charges for foreign cardholders using local ATMs, according to association secretary-general Twatchai Yongkittikul.

...

But a MasterCard spokesman denied that the 150-baht ATM access fee imposed by many Thai banks stemmed from any recent fee change or initiative by the company. The spokesman said MasterCard last notified member banks in October 2007 about a 0.2-percentage-point increase in fees effective from January 2008 under cross-border agreements. Since then, no other fee increases have been made related to ATM charges.

http://www.bangkokpost.com/business/...gners-atm-fees

Last edited by Kalboz; May 11, 09 at 2:29 pm
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Old May 4, 09, 12:34 am
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Originally Posted by Plato90s View Post
There's not a lot of difference, in my experience, when it comes to the rates offered at banks for travelers' checks. I'd just take it to the most convenient locale.

500 pounds is the largest denomination.

http://www.americanexpress.com/china...oduction.shtml
Thanks, I had searched for this info on web without success.
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Old May 5, 09, 6:36 am
  #20  
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I found out that K Bank does NOT charge this fee. I tried it today and was able to withdraw at the ATM without the 150THB charge.
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Old May 5, 09, 8:34 am
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Originally Posted by seanthepilot View Post
I found out that K Bank does NOT charge this fee. I tried it today and was able to withdraw at the ATM without the 150THB charge.
Are you certain? Can you confirm based on the withdrawal hitting your account? I'm just worried that some banks might not disclose the fee clearly, enough though they're charging it.

If you're sure, this would be great news. K-bank is the closest bank to my hotel, and they're plenty of others around town, including ATM's at Chatuchak, where I always seem to have an unanticipated need for extra cash.
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Old May 5, 09, 8:41 am
  #22  
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Originally Posted by MegatopLover
including ATM's at Chatuchak, where I always seem to have an unanticipated need for extra cash.
Amazing how it always works out like that!
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Old May 5, 09, 8:57 am
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As noted above, Kasikorn's not charging a fee was also my experience. Per messages on the Thaivisa board, it appears that Bank of Ayudhya, Government Savings Bank and UOB may not be charging the fee either.
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Old May 6, 09, 1:00 am
  #24  
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The spokesman said MasterCard last notified member banks in October 2007 about a 0.2-percentage-point increase in fees effective from January 2008 under cross-border agreements. Since then, no other fee increases have been made related to ATM charges.
If memory serves, there's already an interchange fee, which many U.S. and other banks pass on to customers for withdrawing from any ATM that is not the bank's. Some, like Wells Feego, also have an invented fee just for using an ATM outside the U.S.

Given that, I'll bet 100% of the 150 baht is unnecessary. I don't think any costs have suddenly increased that'd justify a surcharge, and the area is a declining-cost industry anyway.

I was last there in February, but it seems like Siam Commercial and Bangkok Bank are the real villains and K-Bank, UOB and Ayudhya the good guys; not sure where I'd place TMB.
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Old May 6, 09, 8:33 am
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This is OT, but last month I noticed a new bank chain (at least new from last December) called ThaiBank. I was wondering if one of our Thailand residents could tell me if it's a new bank or a rebranded bank.
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Old May 11, 09, 2:28 pm
  #26  
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Local banks defend foreign ATM fees

Fund-transfer firms charge more
By: SOMRUEDI BANCHONGDUANG
Published: 11/05/2009 at 12:00 AM
Newspaper section: Business

Despite recent fee increases, ATMs are still the cheapest, most convenient way to access foreign bank accounts from Thailand, according to local bankers.

http://www.bangkokpost.com/business/...reign-atm-fees
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Old May 12, 09, 11:40 am
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Originally Posted by Kalboz View Post
Fund-transfer firms charge more
By: SOMRUEDI BANCHONGDUANG
Published: 11/05/2009 at 12:00 AM
Newspaper section: Business

Despite recent fee increases, ATMs are still the cheapest, most convenient way to access foreign bank accounts from Thailand, according to local bankers.

http://www.bangkokpost.com/business/...reign-atm-fees
"The fees are in line with those charged worldwide, and also in line with the higher operating cost carried by local banks."

That is simply not the case. I don't think I've ever been charged a fee by the ATM's owner when I withdraw money in Europe from my American account. My bank here charges $5 for foreign ATM transactions, which means that with the 150 THB surcharge, I'm paying $9+ to make withdrawals in Thailand!

To hell with all of these banks. I'm going to bring traveler's checks, which are free through my bank. Even if the exchange rate is slightly higher, it's unlikely to amount to $9 extra per transaction.
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Old May 12, 09, 6:00 pm
  #28  
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did 2 withdrawals a few days ago at K bank - no fee. I asked at Bangkok bank and was told they do charge the fee. Guess who gets my business?
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Old May 12, 09, 7:29 pm
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Im going to BKK for the firrst time.

My US Bank offers travelers cheques in Baht denominations.
Do banks still charge a handling fee to cash them?
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Old May 12, 09, 7:46 pm
  #30  
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Originally Posted by mrnik2007 View Post
Im going to BKK for the firrst time.

My US Bank offers travelers cheques in Baht denominations.
Do banks still charge a handling fee to cash them?
If it's in the country's denomination, cash it at your hotel and avoid the bank entirely. But beware that your bank will most likely rape you on the exchange fee before you ever leave this country
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