200 Baht ATM transaction fee...

[Beto]

I never had problems cashing $500 traveler checks in BKK, actualy I did get better rates with the 500 nomination than with the 100.
As far as Bank of America is concerned, if you have an account with them there is no charge for TC's. $100 are usually available at the branches, however the $500 TC's have to be ordered, takes 4 to 5 days

[Guest]

I always take about £1000 in cash and change at the exchange booths in Pattaya. Always get top rate usually 3 or 4 baht more to £1 than in UK. I also send some money to my Thai bank account using Moneybookers.com which is the cheapest way to get money from Uk to Thai account. There is always a cost in moving money but I find this the best way to go. By the way I opened the account at the Kasikorn branch on Pattaya Tai by Tuk Kom on a tourist visa with no trouble. 300 bhat for debit card and I have internet access to my account.

[rxpharm]

An update about the fee - sounds like it may be reduced, but only by a bit. As reported by Bangkok Post, May 4/2009

Banks asked to cut foreigners' ATM fees
By: SOMRUEDI BANCHONGDUANG
Published: 4/05/2009 at 12:00 AM
Newspaper section: BusinessThe Thai Bankers' Association will ask local banks to cut fee charges for foreign cardholders using local ATMs, according to association secretary-general Twatchai Yongkittikul.

He said the TBA would hold talks among its members about current fees.

But he cautioned that any cuts would likely be marginal, as most of the fees represented charges imposed for international network access and simply passed on to end-users.

Since mid-April, foreign cardholders withdrawing funds from local ATMs have been charged 150 baht per transaction.

Dr Twatchai said the fee largely came from new transaction charges imposed by international service providers MasterCard Worldwide and Visa Worldwide to cover interchange network costs.

Local banks, which had previously absorbed the expenses, are now looking to pass on their own operating expenses to customers, arguing that the fees charged in Thailand are in line with expenses charged for cross-border ATM transactions in other countries.

Dr Twatchai acknowledged that a number of foreign tourists and expatriates had complained about the added fees.

At a minimum, he said, local banks should communicate better with customers about the expenses banks incur for processing international transactions.

"Local banks should give more information about fees on the ATM screen, and then customers can make their own choice about whether to continue with the transaction," Dr Twatchai said.

"The TBA will try to raise awareness about the issue. Unfortunately, right now many foreign customers have a negative view of local banks due to the fee issue."

But a MasterCard spokesman denied that the 150-baht ATM access fee imposed by many Thai banks stemmed from any recent fee change or initiative by the company. The spokesman said MasterCard last notified member banks in October 2007 about a 0.2-percentage-point increase in fees effective from January 2008 under cross-border agreements. Since then, no other fee increases have been made related to ATM charges.

[Guest]

Read this on the Bangkok Post forum

"Re: Tourism what are they thinking?

by LAGuyinBKK on Wed May 06, 2009 7:16 am [58.8.212.xx]
To try to set the record straight on a few things...

1. The 150 baht fee (roughly $4.25 U.S.) began in mid-April on ATM withdrawals made only using foreign debit or credit cards. The fee is a flat fee, meaning it is charged by the Thai bank regardless of how small or large an amount of cash is withdrawn. The same fee is not being applied if someone (Thai or farang) is using a Thai bank ATM card.

2. Prior to mid-April, BKK Bank charged no fee in the Bangkok area for ATM withdrawals made using foreign cards. And Siam Commercial Bank had long charged no fee, but only earlier this year on its own imposed a 20 baht per withdrawal fee. Both BKK Bank and SCB now are among those charging the 150 baht fee per withdrawal using foreign ATM cards.

3. Many, but not all, Thai banks are charging this 150 baht fee at present. Based on the experience of many users, as of early May, the following banks are not charging this fee at any of their ATMs: Kasikorn Bank (green), Bank of Ayudhya (yellow) and Government Savings Bank (pink). Some have also reported that UOB (United Overseas Bank) is not charging the fee, though I can't personally attest to that.

4. From all indications, the fee was not the result of any government tax or policy, but rather, a business decision sanctioned by the trade group known as the Thai Bankers Assn., which has as its members virtually all of the larger banks in Thailand. From all indications, however, the individual banking companies have the freedom (business discretion) to decide whether or not they actually want to charge this fee. Most are. Some are not.

5. There was an article in the Bangkok Post recently quoting a top official of the Thai Bankers Assn. as saying the group would reconsider the amount of the fee in the wake of the major negative reaction it had received. From the sound of things, it appeared any reconsideration would be of the amount of the fee, not the notion of the fee itself on foreign cards"

[Snick]

Kasikorn (the Green Bank) does not charge the 150 Baht fee.
Luckily they have plenty of ATMS, so look for the green ones

[Lefty]

That's good news BB. Best part being Bank of Ayudhya (yellow) included because they seem the most common outside the Family Marts. Hope it stays that way.

Do you know if we take our foreign ATM card to a teller window, does the 150 fee still apply?

[SamplerDoc]

Gotta love all the Thai ATMs are color coded
There must other ways to avoid the fees

[driftwood]

Just back home from LOS, and can confirm I had significantly better success w/American Express Travelers Checks than w/ATM transactions.

T check ($500/17,640 baht denomination) had the 30 baht fee plus a 3 baht Stamp Duty applied upon conversion. That's less than one US dollar in total fees. Am. Exp. does not charge me any additional fees to aquire their Travelers checks. The $500 denomination is easy to cash at every Thai bank currency conversion window I have ever tried, including Phuket, Bkk, Patts, and Chiang Mai . Marriott is always happy to cash them, but their ridiculous exchange rate  rate would  have netted me approx. 1,500 less baht.

The same ATM withdrawal had the 150 baht Thai transaction fee (roughly $4 US dollars) plus an additional US-based ATM fee of $5 (approx.175 baht) for not using a Wells Fargo bank ATM machine. The banks gouged out a total of $9/325 baht in ATM fees on the one transaction. Those fees are the same whether it's a 35 baht withdrawal or a 35,000 baht withdrawal.

As always exchange rates were all over the board.

Another potential cash drain was using the Wells Fargo ATM/credit card for purchases. The US bank applied a 3% currency conversion fee to every tranaction. This can be a real shock when you get home only to find that your new 10 carat sapphire pinky ring cost an additional $125/4,475 baht.

Clearly the Am. Exp. T-check will be my currency of choice during the next holiday in Thailand.

[rxpharm]

driftwood, thanks very much for detailing what you experienced with changing your money. You have confirmed that the stamp/charge fee per travelers cheque is 33 baht - which has been the same for quite a while.

Also that you get a better deal with travelers cheques if the Thai ATM used is charging the extra 150 Baht. From other reports Kaisikorn Bank (green ATMs) and Ayudha Bank (yellow ATMs) don't charge the 150 Baht fee yet. It has been reported that there is a warning message from the ATM if the fee is going to be charged so you can cancel the transaction if you want.

Yes, there are some prestige credit cards that offer commission free travelers cheques as a benefit. I have a CIBC Aerogold Visa that also does the same.

[Guest]

(rxpharm @ May 13 2009,02:16) It has been reported that there is a warning message from the ATM if the fee is going to be charged so you can cancel the transaction if you want.

I read on some other Thailand forum that some ATMs did not give the warning, yet the charge showed up when the customer checked his online banking.  Surprise surprise.

[Snick]

The "Pink" bank, Government Saving Bank, supposedly has a 30K Baht withdrawal limit and no fee. But I have not been able to verify this, since I cannot find a Pink ATM in Bangkok. I did see one in Pattaya. Other ATMS have a 20K baht limit per transaction.

Green Bank, Kasikorn, is my choice now - no 150 Baht fee
Purple Bank, charges 150 Baht and gives a warning

I avoid the RED Bank ATMS. I've twice had a problem with them 'eating' my ATM card, so I never use them anymore.

[PanzerPorn]

Is this van from the "Pink "bank?

[jadeite]

I used to use $500 travelers cheques before the days of ATM's so I have experience with both. The ATM is absolutely the way to go for me TC's carry every single disadvantage imaginable. Why bother with paperwork at the bank beforehand? Why bother with paperwork to cash each one? Why have to deal with having too many? Why deal with running out? Why have to worry where to stash a vacations worth of them and their receipts? Why be limited to only cashing them during certain hours of the day (this is probably the worst one, being out at night and running out and having to ditch your activities)? Why be limited to where they can be cashed? Why pay more overall compared to the ATM? TC's make absolutely no sense in my situation since they do nothing but add inconceniences and fees and I have never looked back. They simply cannot compete. The 150 baht ATM charge is a non issue simply by favoring the brightly colored ATMs that don't apply it. So moral of the story is why not get a no fee ATM, enjoy the better exchange rate, and all the convenience that comes with it by default.

[MikeNH]

I have a checking account with Schwab - they offer no ATM fees. Schwab Bank reimburses you for any fees charged by other banks. At the end of each month I am reimbursed for any bank fees that I was charged while traveling. Its an awesome benefit while hopping around the globe.

[paulj92]

with referance to rxpharms comments on room/hotel safes in post no 4 ive had bad experiance with room safe on my last trip could of been my fault [not locked] but dont think so do the banks have safes you can hire or even the bigger hotels you are NOT staying in have been thinking about this since last trip