150 Baht ATM Fee FOR WHAT?

[beer monkey]

Ok ta...better keep schtum...

[JimboPSM]

.... but remember that earlier this year Nationwide introduced a 1% fee on cards used in a number of overseas countries (including Thailand) that is charged at the UK end.

From Nationwide website: http://www.nationwide.co.uk/current_acc ... ctions.htm

Foreign Transactions

Nationwide continues to offer commission-free foreign transactions. By commission-free we mean not adding any additional charge for the service of exchanging currency that generates profit for the Society.

We pass on the fee we incur for processing transactions in certain currencies other than sterling. The fee is currently 1.00% and it will be included in the sterling amount shown on your statement.

Because of this (and also at any banks having an ATM fee using a percentage) that percentage is also charged on the 150 THB fee

[UdonExpat]

They must be laughing all the way to the bank. A fee on a fee.

[rick]

Nationwide I think still currently offer the 'best' debit card in the uk for use abroard (I am willing to be corrected). A year ago it was totally free to use; ie if i asked for 3,000 baht at say a rate of 60 baht to the pound, it cost me £50. Now unfortunately my 3,000 baht actualy becomes 3150 baht (ATM withdrawal fee, lets assume i have to pay); then assuming still 60 baht to the pound (I know its less now but makes comparison easy) this becomes £52.50, then add 1% visa fee = £53.02. i now have to spend 6% more for fees, pretty bad. But, if i was using LLoyds debit card, my 3,000 baht becomes first 3,150 baht, then at 60 baht to the pound £52.50.... oh but also 2.99% foreign currency conversion fee, so now £54.01; but also 1.5% foreign withdrawal fee (minimum £1.50) so now £55.51 - i pay 11% total fees!

So Nationwide is still about half the rate of most UK debit cards. Can reduce costs by making bigger withdrawals - if i take 12,000 baht overall cost reduces to about 2.27%; with Lloyds still about 5.8%.

Any other better debit card from UK?

[JimboPSM]

Nationwide I think still currently offer the 'best' debit card in the uk for use abroad.....

I have not found a better one (yet).

Your calculations on Nationwide are correct; though it should be noted that, because of the fixed charge element by the Thai banks, the more cash that you withdraw the lower the percentage charge becomes.

In the example you quoted, 3, 000 THB gave rise to a charge of 6.05%; based on the common multiples of 5,000 (that some ATM machines offer) you would get:

• 5, 000 THB – charge = 4.03%
  10, 000 THB – charge = 2.52%
  15, 000 THB – charge = 2.01% (current limit for many UK ATM cards)
  20, 000 THB – charge = 1.76% (for those with limit > 300 GBP)

It is common for many banks to have a limit on ATM withdrawals based on their domestic currency – for example many UK banks have a 300 GBP limit, in such cases it means that withdrawals in Thailand are currently limited to 15,000 THB (it would need the rate to return to about 68 before 20,000 THB could be withdrawn again).

[jorg]

My visa credit card from Holland charges me 1% with a maximum of € 1,50 if I use it as a debit card, so for a THB 20.000 withdrawal (more than € 400,00) that's less than 0,4%. That's a good deal ; especially if I use the yellow atm.

[Mainer]

curious if your ATM card is strictly for ATM use

mine is Fidelity Investments Brokerage account, which i don't use to trade anything on (e-trade for me). it is a debit card w/visa / interlink / plus /star emblems on it. can use as CC, internet/shops. Fid. doesn't charge me, usually, i might do 30 atm's a year, and 2 or 3 will have a one dollar fee, never questioned them about it. as long as i get free on the thai end, i'm happy.

LA, do you still have a Thai Bank that does not charge you? Today, I tried the pink Gov't Bank on Poshi Road between Chaeron Hotel and AEK Hospital. NOT FREE anymore You know of another?

[Deacz9]

Can anybody confirm which banks do not charge the 150 Baht fee on some cards? I heard that 'AEON', up past Udon Hospital , UOB near the fountain island and one called GSB that I don't know the whereabouts do not charge. Not sure about Bank of Ayudaya as they never used to, but have stopped giving me me transaction slips. Of course I have paitently waited in the banks and asked the question, but the staff do not seem to be able to answer or to have the technical training to call head office and give me a yes or no answer.

Any updates on this???

[jorg]

The yellow ATM's (Krungsri, Bank of Ayudhya) still don't charge me when I use a VISA creditcard. All the other banks I tried (with this I'm not saying I tried all the banks), charge me the 150 baht fee, this includes the pink ATM in the complex. And still getting transactions slips from the yellow ATM's.

[RLTrader]

I have tried them all and they all charge 150 baht for use of US HSBC ATM Card. The Pink one gives me an error, I guess it is not on the Citus (sp) Network.

I also have noticed that I am no longer getting a very good exchange rate. It use to be when I checked my account, I got about the same rate as what's on my wedgets, or what you see on Yahoo. Now it seems to be a baht plus difference and when I look at my statement, it no longer gives the rate. At first I thought it was the K bank, but BB is just as bad. I don't know who is to blame, HSBC or the local banks.

An example: On the 15th of this month I got the rate of 32.10 plus a 150 baht fee. On the 17th I used my US credit card for gas and got 33.39. I would guess that the wedget rates during that period was around 33.40

So I am back to using credit cards, which then I can pay from my US Bank. And the strength of the baht makes no sense to me, even with a weak dollar. So I am pretty fed up.

[doo]

Hi.
Why not open a Thai bank account and every month deposit your money in it, if from U.K. make sure the exchange is done in LOS or you will lose money. This way you will not have to pay 150B for every transaction on your Thai bank card. Easy.
Cheers Doug.

[RLTrader]

I do have a Thai bank account. Pray tell, how do you transfer funds into it for free. Last time I needed a large some it costed around $40+.

I would not want all my funds in a Thai bank. When you read the news, where a Thai women had over a million baht withdrawn from her account, and they said, sorry about that. At least in the states its insured. Guess it is here also, so they say, but trust it, maybe next year.

What I do now, since the 150 baht fee, is transfer the largest amount possible ($500) and then deposit it in my Thai bank account. But with the exchange rate and the fee, I am screwed.

I was thinking of looking into using PayPal, to transfer it, not sure if its possible. (don't need to here how bad PayPal is, for I have used it for years and never had a problem or a charge, so thank you anyways. Just used PayPal a couple of weeks ago, now I have the only cabinet with hinges that have been around the world )

[rick]

Trader (and anyone else using debit cards) there are a number of ways the banks charge you for using your card apart from the thai 150 baht; not all of them are in the basic charge structure.

1. The 'cash withdrawal fee' This can be a fixed amount or a percentage with a minimum. Usually you are told about this in basic conditions.

2. 'Visa' fee. Visa transaction costs charged by Visa to the bank; higher for foreign transactions. Usually waved if in your own country, but often charged for foreign use. Not always in basic conditions, need to look at foreign use charges.

3. 'currency conversion fee' this is charged by your bank just like if you buy foreign currency, can be up to 2.75% or more (hence you get about 1 baht less than forex interbank rates). Again, not in basic terms.

So, you can theoretically be charged 4 TIMES when you use an ATM in Thailand; this could eat up 5-10% of your money depending on how much you take out at a time. Banks may choose not to impose all these charges but you should not assume they do not. It is possible to find cards that are much cheaper than others, go and find them.

[doo]

Hi,
Trader i did not say you can transfer money for free. I said open a Thai bank account and deposit what you use each month in it from U.K.. I did not say put all your money in it. I do this and avoid the 150B fee every time you use a non-Thai card. which if used four to five tines a month ammounts to 600B to 750B I have a Lloyds Plat. card and they do not charge interest if your account is in credit, which mine is, I transfer money out to LOS in GBP's so there is no currency conversion fee for what I require each month. As i said before do not convert money in U.K. you will be ripped off. I have been happy with this system for the last five years, Works well and will still use it.

[maithai54]

Thai Government Savings Bank ATM's (pink colour) do not charge 150bt as far as I'm aware. Also my UK Nationwide Bank does not add a fee so all my withdrawals overseas are free at the moment.

[wazza]

maithai54

are u charged the 150 baht ATMJ fee when u use ur UK Nationwide Bank Card ????

[parrot]

I went to the pink atm across from the Mistubishi dealer today......didn't get charged the 150 fee in the past there....but today it advised me of the fee. I declined. I'm not aware of any other bank in Udon taht does not charge the 150 fee for ATM cards. Sigh

[BobHelm]

The yellow one outside Big C still does not charge me....

[FrazeeDK]

Bob's your uncle?? Hey, I'll give the yellow one a try next time I'm in Udon.. All the BKK ATM''s hit me for the 150 Baht surcharge.. (captialist swine!!)

[RLTrader]

Rick, I was getting about the same rate as my credit cards (see the example), with my HSBC ATM card. Also my statements showed the rate of exchange. Now the statements show a bunch of zero’s. This all just started about the same time as the fee went into effect. Thats why I say, that I don’t know who is to blame. Until I know otherwise I will assume its the Thai Banks giving me the fun exchange rate. If it was a local call I would call HSBC and ask. It would be a hell of a coincidence, if it HSBC.


Like I said, when I try the pink one I just get an error message, I also don’t see all the symbols for the Networks, like on the other ATM’s

I guess I need to find an excuse to go to Big C.

doo, I now only use the ATM two times a month, so a cost of less than $10 USD in fees, I’m also american. I would think to use a wire transfer, I would need to do one every four months and it would still cost more by a few dollars.