200 Baht ATM transaction fee...

[Lefty]

(MikeNH @ May 13 2009,09:29) 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.

This sounds perfect. I'm going to check with them tomorrow.
I guess the reimbursement of ATM fees would be the same for someone staying long term in Thailand too.

How do they do it? Just automatically credit your account back for the accumulated fees, rather than sending it to you I would presume?

[bigmick22]

I've gotten the warning every time I've made a withdrawal. Good news on Kasikorn bank - will be using the green ATMs from now on

[Lefty]

(MikeNH @ May 13 2009,09:29) 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.

Looking at Schwab's site, it sounds like there is a limit on the reimbursement of ATM fees for using other bank's ATM.

** We do not charge any fees for use of any ATM. If you use a machine that is not a Schwab Bank ATM, you may be charged a fee by the ATM operator or any network used. This may include a fee for a balance inquiry even if you do not complete a withdrawal or other monetary transaction. We offer a rebate on these fees assessed by others: For Interest Checking, Regular Checking, and Basic Checking up to first 6 transactions not to exceed $9.00 per statement period. Schwab Bank reserves the right to discontinue or modify the ATM Fee Rebate program at any time. Please see your Schwab Bank Deposit Account Pricing Guide for details.

It still sounds better overall since they don't have a fee when you use another bank machine, although the rebates won't be unlimited.

[driftwood]

(bigmick22 @ May 17 2009,18:59) I've gotten the warning every time I've made a withdrawal. Good news on Kasikorn bank - will be using the green ATMs from now on.

Where is the closest green ATM to the NEP entry located?

[Snick]

Their is one between the landmark and the skytrain, their might be one on soi 4 itself, but I can't think of one right now.

[Stogie]

Looks like the green KASIKORN ATMs are the way to go!  

[rxpharm]

Keep an eye on your home bank statements even if you've been using the Kaisakorn ATMs. There have been reports on other forums that the fee is still there, even though there is no warning message.

[Stogie]

Yes... I thought as much. They are a members of the Thai Bankers Association and would have no reason to opt out of this collective agreement of 150 baht fees.

I'll wait for further reports from posters who have used this method for getting money.

[thaibound]

i just tried a 20,000thb withdrawal at a kasikorn atm on soi bukoaw and first it came up warning me about a 150thb fee, and then it said 'invalid' -- apparently it didn't want to let me take 20,000thb. i'm finding no two atms -- even with the same bank name on them -- are alike. as though there's some subsidiary distribution arm that's placing them (like vending machines) and setting their own fees. this atm was not entirely 'green' however, it was part green and part red. so maybe the color-coding system over-rides the bank name?

[Snick]

Hmm, I wonder if things changed. Last time I used Kasikorn with a foreign ATM was about 10 days ago, and there was no notice about the extra charge.
If Green ain't working anymore, someone will have to try the Pink Atm and report back.

[TTChang]

Used Green recently, with no charge.  Need to go to ATTM again tomorrow (so a good thai friend tells me ).  So will report back if any new situation.

I have been using my Kasikorn thai baht account more, anyway (withdrawals only cost 10 baht!)

[bigmick22]

(Snick @ May 18 2009,03:08) Their is one between the landmark and the skytrain, their might be one on soi 4 itself, but I can't think of one right now.

that's the one I usually use anyway

[bigmick22]

Note for any irish BM with Bank Of Ireland accounts. Due to fraudulent activity in Thailand, they have recently limited the daily withdrawal amount in LOS for holders of BOI ATM cards to 100 euro - about 4,700 baht.

May be an inconvenience if this is how you access money in LOS and wish to live it large. This has, they tell me, been in affect for 2 months now and they don't know when policy will be reversed

[Guest]

 cheers BM, the hassles just keep getting more, so that will be 150 on every 4700 withdrawal.  Luckily I am with AIB, must check do they have the same policy.

[rxpharm]

I have verified that Bank of Ayudhya ATMs (yellow ones) do NOT charge the 150 Baht fee yet. There is a message just before you complete your transaction but the fee so far read "0 Baht". I imagine that the fee will come soon enough. I also checked my bank statements and there is only the usual $5.00 Canadian dollar transaction fee for using a non-home bank ATM.

The posts about travelers cheques being the better deal remain true. I did bring travelers cheques along this trip and the exchange rate even with the stamp charge was better than that for cash or ATMs. While ATMs are convenient, if you are looking to get the most for your money, commission free travelers cheques (if you have the benefits from a particular credit card or bank account), are the way to go.