ATM surcharges on cards issued by non-Thailand banks (THB150-220 per transaction)
Apr 16, 2009, 7:31 pm
#1
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ATM surcharges on cards issued by non-Thailand banks (THB150-220 per transaction)
FYI: 150 Baht surcharge on ATM withdrawals eff. April 17
All non-Thai credit/debit cards will be subject to 150 Baht surcharge on ATM withdrawals. Press release from the Thai Bankers' Assocation (all of the major Thai banks are members).
We don't agree on much in this forum, but I think we can all agree this blows
All non-Thai credit/debit cards will be subject to 150 Baht surcharge on ATM withdrawals. Press release from the Thai Bankers' Assocation (all of the major Thai banks are members).
We don't agree on much in this forum, but I think we can all agree this blows
Last edited by aBroadAbroad; Apr 8, 2015 at 1:14 pm Reason: Clarification after thread retitle.
Apr 16, 2009, 7:52 pm
#2
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Apr 17, 2009, 9:03 pm
#4
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You should add "at least for now". At $4.25 (€3.25) a pop, it may cause banks with uncapped monthly reimbursements and uncapped per transaction reimbursements to not be happy. And eventually their unhappiness gets passed along.
Apr 18, 2009, 8:36 am
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Apr 18, 2009, 1:09 pm
#9
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Me too, unfortunately. The banks seem to give quite good rates for exchanging t-cheques. Since I can get them from my bank for basically no fee, it'll be worth it to go back to t-cheques. When you take the bank's 2.5% forex fee and slap on another $4 per transaction, the hit is over 3.5% when withdrawing 10,000 baht. To take the same hit on a t-cheque, the banks would have to shave more than one full baht off the interbank exchange rate, and it's usually more like .3 baht at the most, which equates to a 1% hit. I was willing to pay the extra to my bank for the convenience factor, but this makes it totally uneconomical.
If a lot of people start doing this, we'll see how the Thai Bankers Association likes paying people to deal with the hassle of t-cheques.
If a lot of people start doing this, we'll see how the Thai Bankers Association likes paying people to deal with the hassle of t-cheques.
Apr 20, 2009, 1:45 pm
#10
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Me too, unfortunately. The banks seem to give quite good rates for exchanging t-cheques. Since I can get them from my bank for basically no fee, it'll be worth it to go back to t-cheques. When you take the bank's 2.5% forex fee and slap on another $4 per transaction, the hit is over 3.5% when withdrawing 10,000 baht. To take the same hit on a t-cheque, the banks would have to shave more than one full baht off the interbank exchange rate, and it's usually more like .3 baht at the most, which equates to a 1% hit. I was willing to pay the extra to my bank for the convenience factor, but this makes it totally uneconomical.
If a lot of people start doing this, we'll see how the Thai Bankers Association likes paying people to deal with the hassle of t-cheques.
If a lot of people start doing this, we'll see how the Thai Bankers Association likes paying people to deal with the hassle of t-cheques.
Not enough of a difference (~0.4%) compared to the security of traveler's cheques, but still....
Apr 20, 2009, 11:53 pm
#11
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I'm headed home from Bangkok this evening and was shocked as well when a few days ago I suddenly got hit with a 150 baht transaction fee from a Siam Commercial ATM. I'm not clear if the fee applies to all Thai banks, though, as last night I used a Kasikorn ATM and was NOT charged ANY fee. It could be that the ATM simply hadn't been reprogrammed yet, or perhaps only some banks like Siam and Bangkok Bank are charging the exorbitant fee. Prior to the hike I know that some banks were charging a 20 baht fee and others like Kasikorn and Ayudyah (I think) had no fee.
BTW, this morning's Bangkok Post has an irate letter to the editor complaining about the new fee.
BTW, this morning's Bangkok Post has an irate letter to the editor complaining about the new fee.
Apr 21, 2009, 6:28 pm
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Apr 21, 2009, 9:41 pm
#13
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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.
Apr 22, 2009, 3:17 am
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I'm headed home from Bangkok this evening and was shocked as well when a few days ago I suddenly got hit with a 150 baht transaction fee from a Siam Commercial ATM. I'm not clear if the fee applies to all Thai banks, though, as last night I used a Kasikorn ATM and was NOT charged ANY fee. It could be that the ATM simply hadn't been reprogrammed yet, or perhaps only some banks like Siam and Bangkok Bank are charging the exorbitant fee. Prior to the hike I know that some banks were charging a 20 baht fee and others like Kasikorn and Ayudyah (I think) had no fee.
BTW, this morning's Bangkok Post has an irate letter to the editor complaining about the new fee.
BTW, this morning's Bangkok Post has an irate letter to the editor complaining about the new fee.
Haven't had the need to withdraw money since this went into effect, but I might make an attempt with K Bank and see what happens.
Edit: Checked the listing of banks and Kasikorn is one of them.
Last edited by dsquared37; Apr 22, 2009 at 6:36 am Reason: further info
