Introduction of charges on foreign ATM wdls by Thai banks

[cali4995]

I never realized ATM card swallowing machines were such a menace? Have to confess I
always get a little anxious at the terminal thinking this might happen and apparently it
DOES happen to some folks rather frequently? Replacing a US card would be nightmarish?

[bumper]

Mine three times in seven years:

I think I have to admit I'm stealing from TV now:

Ron is this what yo do inside the bank?

Thanks for the tip on SCB - they may be greedy with their ATM charges, but they do do commission free cash advances on Nationwide Visa Debits.

I first stopped at Ayuddhya Bank near Suk33 who said I could draw a maximum of 100,000B BUT there would be a 3% (yes 3% - 3000B) charge!!! That's three times as expensive as 6.666 x 15,000B ATM transactions (total 1000B) to get the same amount.

The nearest SCB was a hike down as Suk45, but said I could have a maximum of 200,000B. Just checked online and the transaction (incomplete as yet) seems to have deducted 1938.02 from my Nationwide account, that's 51.60B/GBP (today's rate on BBC - 51.77) so looks like no charges on either end. Had to use the exchange counter, not the general counters and they took a p/copy of passport and front of card, which I had to sign and I entered my PIN into their machine.

[papaguido]

Rito I just left that site from what I saw was you need 200.000 baht to open account that almost
6000 USD but I may not have look in the right place could you find out more info thank you

As far as I can tell, *non-residents are limited to opening a Normal Time deposit account with a minimum of 100,000bt and a 6-month tenor minimum (not sure but I think this is kind of like a CD back in the US). You also get a 1.25% rate and there are service fees (but I didn't get that far reading the fine print...UP2U )

IMO, I believe this would benefit those using the annual income requirement for immigration. I couldn't find any info regarding minimum deposits for Checking/Savings accounts.

* I found the reference "limited to non-residents" under Terms & Conditions.

[papaguido]

Mine three times in seven years:

I think I have to admit I'm stealing from TV now:

Ron is this what yo do inside the bank?

Thanks for the tip on SCB - they may be greedy with their ATM charges, but they do do commission free cash advances on Nationwide Visa Debits.

I first stopped at Ayuddhya Bank near Suk33 who said I could draw a maximum of 100,000B BUT there would be a 3% (yes 3% - 3000B) charge!!! That's three times as expensive as 6.666 x 15,000B ATM transactions (total 1000B) to get the same amount.

The nearest SCB was a hike down as Suk45, but said I could have a maximum of 200,000B. Just checked online and the transaction (incomplete as yet) seems to have deducted 1938.02 from my Nationwide account, that's 51.60B/GBP (today's rate on BBC - 51.77) so looks like no charges on either end. Had to use the exchange counter, not the general counters and they took a p/copy of passport and front of card, which I had to sign and I entered my PIN into their machine.

Git, I done cash advances on my ATM/debt card and only paid the 1% conversion fee. This was at SCB. However, I always deposit directly into my saving account, maybe they waive the service fees, if any.

The only drawback to this is the time spent doing the transaction and the teller making copies of my passport & debt card to process the transaction.

[bumper]

Well time is one thing as a norm I have. But since I'm limited to a 15K draw on my debit card 1% I do believe I would still be paying 150 baht. This week will be interesting, to see if Bangkok Bank is still going to accept my bebit card. My gut is telling me I better get up to spedd on intennational wire transfers. Mone is a real pain ion the rear First you got to fax it to them then you have to call them and verify it. Of course then there is th $65.00 fee.

That and no charge from the home bank on the ATM that was a sweet deal, paying the 20 Baht here was nothing. Don't you just miss the old day when they become the old days overnight

[bumper]

I used Kasikorn Bank ATM on Phosri Rd to ATM from my stateside credit union today. No fee.

Parrot what is the general cross area on Posri rd?

[papaguido]

My credit union charges $45 for an Inter wire trans. I still get a better deal with the cash advance, unless I'm rebated the ATM fee which I'll find out next week.

BTW, the cash advance I did in Feb the exchange rate was 34.85 (T/T) with SCB. As far as I can tell they dock me at 34.35.

[aznyron]

Rito that what I do I sit down with my passport and bank book and they do the transaction if the bank is not busy your out in 10 minutes I have not found a better way I am sure there is

[bumper]

My sick mind is working again

So the way things are going would you recommend Thailand as a vacation spot, I damn sure wouldn't. They don't seem realize how many people read these forums. I don't ever recall seeing a news release on this doesn't matter word got out faster then swine (Opps Mexico) flu. This is place is definetly in it's own world for sure.

If the international news would pick i up for just one day they would drop that fee in a heart beat. So worried about tourist I think they have nade it vrey clear what their intent is in getting them here.

In the scheme things doesn't mean much to anyone so I doubt that will happen, sure would be fun watch them sqwirm. Maybe the answer is not to use the ATM's if nothing else it's nuisance to them.

[trubrit]

My sick mind is working again

So the way things are going would you recommend Thailand as a vacation spot, I damn sure wouldn't. They don't seem realize how many people read these forums. I don't ever recall seeing a news release on this doesn't matter word got out faster then swine (Opps Mexico) flu. This is place is definetly in it's own world for sure.

If the international news would pick i up for just one day they would drop that fee in a heart beat. So worried about tourist I think they have nade it vrey clear what their intent is in getting them here.

In the scheme things doesn't mean much to anyone so I doubt that will happen, sure would be fun watch them sqwirm. Maybe the answer is not to use the ATM's if nothing else it's nuisance to them.

Come on Git. Do you really think they are worried about us. For that matter do you honestly believe the sex and vacation tourists are going to stop coming here?For a lousy , in comparison to total spend, 150bht? Of course not. Most of them use travelers cheques anyway. As for it not being a government order. Who do you think is the president of the bankers association? A certain Minister of Finance. If you really want to hurt them do as I did many years ago when, without warning they reduced the interest on accounts held by foreigners to a paltry 0.5%.
Next day withdrew every single baht, hopped on a plane to Singapore, opened an account at 3.7%, same as residents get.Its been there ever since, and , so far I haven't been charged for my ATM withdrawals.

[laphanphon]

agree with both of you, doubt if anyone is not going to come here, just for a few additional fees. it won't effect the mid to high end tourist, which is all they want anyway.

but i would never recommend thailand as a tourist destination spot, especially to an american. so many places closer, much nicer, less scams, in the long run, same price and much better value.

between the taxi mafia, and farang pricing, it's a shame they ruined their reputation with many. if Ree did not do the phone work, hotel would be 20-30 % more, if not mid range. it really pisses her off when she gets a price, then they see me, and everything changes. we bypassed a couple places because of that. and they were empty, great sales decision, let 700 baht walk away because you're trying to squeeze 900 baht from them. then lie with a straight face, price different than i tell you, and different from our website.

been here only 8 yrs, really enjoyed travelling around, but after last out and about, which was good, accomplished what i wanted, but the old spots i loved, i have no desire to return to. some, simply discovered, and a bit touristy for me, that's fine, such as kata beach phuket, but if a thai tourist virgin and had to deal with the scamming and taxi mafia, i wouldn't return. other places, where overbuild and trashed, very sad. i find nothing here, world class, and worthy a visit from afar.

[bumper]

I'll give that some thought, never been to Singapore might be fun

So how do yuo put money into the Singapore account in terms of a monthly deposit?

Will that stop t the sex torist coming no, But I'm not the one discussiing tourism every night on Thai TV

Seems to be the main topic these days even when the discusss swine (oops Mexico) Flu. There the ones worrried about it not me. Yes I do believe international news coverage would make a difference.

Sex Tourist now you really have me confused there is no prostitution in this country

[arjay]

LA, you're jumping topics again. There are existing threads about double/over-pricing.

[bumper]

You know Arjay I think it goes hand and hand, we are seeing it in the ATM transactions as well. So if the Nations leaders ares showing their true colors what can we expect from the followers but to follow.

As I sit here today I wonder where the next hit will be? This is going to smoothly for something else not to follow. The forums are alive with this, the only news I have seen about was a thread I started on the Bangkok Post. That has activity. But, True Brit is correct at this level they don't care. International level would have an effect, but it don't bleed so it won't read.

[bumper]

This is waht I mean True Brit it's all about tourist now. They actually think there Are reason other then people don't have the moey to r travel as they did. There is always culprit in the shadows you know here are no money limits for farrangs. This why I think a international news story would have them running for cover. For some reaon they insist on beating this dead horse tourism is down everywhere not just Thailand. Seem to be the one hing they actually fear. When is the last tiem yuo heard exports really come up a serious subject. Hey these bank fees would make an excellent culprit, an entire group to blame it all on this perfect for Thailand.

It isn't that it would really stop tourist from coming it's if they beleive it would. The truth is a seven fold increase in ATM fees will make them look like the bad guys if it ever hits the international news. They really have pretty control on the local news so they are not going to worry about that one bit. The truth is they have monoply going and they can do whatever they want there are no alternatives, unless the three banks in Bangkok are a true alternative.

This smells of the one thing they swore they were not going to do protectionism.Watching what these banks do is important, that where it all fail apart in 97. This feels like an act of desperation, no one would do somthing like this if they were really trying to build a customer base. I think they may be in more toruble then they are saying at first I thought it was greed. But the more I think about it greed would be three times increase, seven fold is a different ball game.

I beginning to wonder what we don't know. I donl beleive if I had a large amount of money I would be bringing it here right now and I don't mean becaue of the exchange rate something beyond that. but I can't put my finger on it. Think baou for years now we have been seeing sailing down the river of denial. Wondering when they were goign to react to what was happening. They didn't. Yuo know I was a cop for years I had gut reactions that something just wasn't right. Well thats exacly how I'm starting to feel about this. Something much more then we know is wrong.

From Bloomberg today

Thai Baht Trades Near 1-Month Low on Concern Tourism Will Drop

[parrot]

Git: Kasikorn Bank on Phosri Rd: it's the old Thai Farmer's Bank located on the corner of the one-way street. It's about 50m before the Bangkok Bank branch on Phosri. Single ATM located at the foot of the steep stairs.

[aznyron]

Git I am happy to read your gut feeling has woken up mine never went to sleep the final outcome
is what we all are waiting for and the picture does not look good for Thailand IMO they are holding
on to string line which can not hold the weight so they keep pumping more USD to prop the baht I said that 2 1/2 years ago and every one said I was wrong

[jetdoc]

I noticed SCB ATM at the night market has black tape over the Plus, Star, etc symbols, maybe they dropped their affiliation;o(

[aznyron]

I have a SCB account maybe it time I get a new bank to service me

[aznyron]

I just checked my debit card on the back it shows Cirrus Star & SCS (service card system) what that means I have no idea so I guess they want that 150 baht at all cost