200 Baht ATM transaction fee...

[kliome]

Thanks for clearing up the slight bill query, but now I'm confused about the travellers cheques.

So the TT rate isn't the same as the Traveller's Cheque rates?
So Traveller's cheques are exchanged at the same rate as cash?

And like RX I'm wrong in thinking Traveller's Cheques get a slightly better rate than cash?

I'm so easily confused when it comes to money.

[PigDogg]

I prefer the way Siam Bank lays it out. At the bottom is the credit card rate.

Siam Bank

[rxpharm]

Thanks Pigdogg, the SCB table is much easier to understand and travelers cheques definitely have better rates than cash.

[jadeite]

(rxpharm @ Apr. 16 2009,06:26) the SCB table is much easier to understand and travelers cheques definitely have better rates than cash.

I don't see it. The chart seems to indicate TC's are worse than cash for $100 denominations. If you exchange $100, the TC yields just 23 more baht (3513-3490). This small amount I presume gets wiped out by the stamp fee alone.

[rxpharm]

You are right if the stamp fee is a multiple per $100 USD travelers cheque. A $500 USD travelers cheque is the better value if the stamp fee is per cheque. I have asked if one of the board members currently in LOS can check the stamp fee policy. As of last year, the stamp fee was 33 baht per cheque - no matter the denomination.

[PigDogg]

If you can buy $500 TC for free, then the $500 TC is the beter deal. If there's a 1% commision then cash gets you more baht.

Not always easy to buy $500 TC though.

But you probably don't want to bring a few grand in cash.

[Socrates999]

How about just taking the max ATM withdrawal, pay the 150B, deposit in the Thai bank account you've opened and just use that ATM?

"Convenience charge"? It's gotta be cheaper to run an ATM machine than to hire a teller. Convenient way to suck your money away from you.

I think when I was last bouncing checks, the fee was $10 USD. Now it seems that, for some, that's the fee just to access your own money.

Need to take down in the revolution: banks, insurance companies, attorneys, slumlords and car dealers.

[jadeite]

How about just taking the max ATM withdrawal, pay the 150B, deposit in the Thai bank account

If you have a Thai bank account then wire money to it, I believe that is the absolute cheapest way.

Convenient way to suck your money away from you

In theory yes. But the reason for the charge might be to cover for all the ATM fraud that goes on in Thailand. Of course the Banks will ream us beyond any losses to bilk profits out of it though.

Does anyone have a list of banks that do not charge and where abouts their ATMs are located?

[PigDogg]

(jadeite @ Apr. 16 2009,18:53) If you have a Thai bank account then wire money to it, I believe that is the absolute cheapest way.

Only for very large amounts of money.

When I wired money there was a fee from my original bank, a fee from JPMChase, the intermediary bank in my case, and a fee from the Thai bank. I think the fees from the two American banks came to $42 bucks.

[donnnnnny]

just another bank scam. so now i have to pay 2 fees to greedy banks so i can access my money.
time to go back to cash then.

[PigDogg]

(donnnnnny @ Apr. 17 2009,00:40) just another  bank scam. so now i have to pay 2 fees to  greedy banks  so i can access  my money.
time to go back to cash then.    

Three fees Donnny; there's a fee from the Thai bank too!

[BlueBallz]

I have wired large amounts of money (over $5K) on a few occasions and it was only a $25 fee form my bank. I thought that was fairly reasonable.

BE CAREFUL OUT THERE

PS agree with you socrates!!

[rxpharm]

Wire transfers always involve at a minimum two charges, one from the sending bank and one from the receiving bank. The sender may not see the 2nd charge as the option is usually to charge the recipient that fee.

If the sending bank has to use an intermediary bank, there is yet another fee charged by that bank.

If you happen to have a gold, platinum or onyx credit card, check your benefits - my Aerogold Visa card allows me to get regular American Express Travelers Cheques commission free from any of my bank's branches.

[Torurot]

Careful, anyone carrying large amounts of cash is automatically a suspect drug dealer or "terrorist". The Feds hate cash.

[azza33]

Banks are all cunts~ I should know - I work for one!