estnet

arcticflier

LIH Prem

I just checked a transaction I made on Jan 11, ATM withdrawal of 5000THB + 220THB fee at an ATM at the Grand Hyatt Erawan in Bangkok.

Two transactions posted to my Schwab One account on Jan 14 (shown as Jan 14 as of Jan 11) for a debit of $163.90 and a credit of $6.90 for the ATM fee.

So using the values $163.90, 5220THB and Jan 11, with the credit card charge calculator at xe.com, the bank charge was 38 cents or .232%
for the transaction or 39 cents if you use the date of Jan 14. xe.com uses mid-market rates for the date you enter for the calculation.

I don't see how you can do any better than that. You can use that calculator on any transaction you have posted to your bank account or credit card account.

-David

transpac

How many of you rely on ATM withdrawals using Bank Debit cards from a US Financial Institution and check the actual conversion rate provided by the ATM against the rate posted in your statement?

For me (Fidelity Debit Card/Visa), the rate is NOT provided by an ATM, but rather Visa.

On Friday, 1 Feb 2019 ~ 11:15 I got 15,000 THB at an AEON ATM machine (150 THB fee), so 15,150 THB in total, and my account was debited by $486.00 immediately - again the email from Fidelity with the amount arrives on my phone in the ~ 10 seconds between pressing enter and the machine dispensing the cash.

Using the Visa Exchange Rate page, I get $485.996850, which rounded up to $486.00 as expected.

https://usa.visa.com/support/consume...alculator.html

I haven't received the credit for the 150 THB fee yet, but expect it to be ~ $4.82. (Last weeks fee credit posted at $4.74.)

ft101

This thread has had over 70,000 views in the almost 10 years its been around and hopefully provided help to many. I think it's important that when someone posts inaccurate information it's highlighted, and when they repeat that view it's debunked again. Thanks to the multiple posters that have done that. You might want to save your time looking for a discrepancy. It's hard to say with 100% conviction as there are always oddities, but as near as [moderator edit], you were wrong - accept it.

arcticflier

Ocn Vw 1K

The thread is starting to become focused on one or more members, rather than the topic of ATM surcharges and exchange rates. Going forward, let's keep the discussion away from personalization and stay with the topic. Thanks! Ocn Vw 1K, Senior Moderator.

UpperDeckJunkie

Has anyone had recent experience using a Fidelity Debit card? If so, was the fee included in the total withdrawal amount or did Fidelity separate it out and refund the fee (my understanding is that the fee doesn't show as a separate line item so you don't get it refunded)?

AEON ATMs still the way to go for the lowest fee?

Anyone tried a Fidelity card at a Citibank ATM?

transpac

I continue to use my Fidelity ATM/ debit (Visa) card here a couple of times each month.

I only use it at AEON ATMs, where the fee remains 150 THB.

Any fee, say 150 THB, is debited over and above the amount dispensed, so if you request 10,000 THB, you get 10,000 THB in notes from the ATM, and your account is debited 10,150 THB as converted by VISA as one single transaction. A day or two later your account is credited the 150 THB converted to USD. I honestly haven't tracked the fee conversion rate date (ATM W/D or credit), I assume it's the original date.


https://usa.visa.com/support/consume...alculator.html

UpperDeckJunkie

Thanks transpac - good to know that Fidelity figures out that the 150 is a fee and not part of the actual withdrawal amount requested.

transpac

I assume that the inter-bank messaging structure allows for these sorts of details (amount dispensed, currency, fees, date/time stamp, etc) to be transmitted?

It seems the same as when I use my Fidelity ATM/debit card at a BofA ATM (in the U.S.), which might charge a $5 fee.

Diplomatico

Schwab is able to discern the same information in reimbursing my account for any ATM fee.

Is there a limit on Fidelity ATM fee rebates? If not, why try to find AEON ATMs instead of the most convenient ATM?

LIH Prem

Not that I'm aware of.

Yanisa used her Fidelity ATM card at the Bangkok Bank ATM in the SGS. Refund was just under $7 back in April.

-David

ricktoronto

I recall many people in Pattaya taking two baht buses to Aeon bank (somewhere in North Pattaya and I think no longer there) to save 150 baht when Aeon charged zero when K-Bank and others were 150 Baht, despite paying 40 baht and needing at least an hour for the journey. So 110 Baht/$2.50 saved. Maybe one or two times over a trip. And with no real clear notion if their (Aeon) FX rate was an OK deal vs. say, Kasikorn.

I would not go ten feet out of my way for 110 Baht or 150 Baht for that matter. People should allocate $100 (or equivalent) for nuisances in travel - ATM fees, tourist cards, a taxi rip-off, tips that you really would rather not pay even though normally you are a good tipper and then ignore the pennies and small dollars and enjoy the trip.

I am in Thailand now and have done two ATM transactions for 20K and 10K Baht and I have no idea how the rate was vs. T&T booths for cash, but I suspect with the fee (220B) it fits in my $100 who cares fund.

ft101

Unless you allow the ATM to do the conversion (unlikely), the rate is determined by your card type (Visa/Mastercard etc). Choice of machine - Aeon or Kasikorn or whatever - doesn't come into it.