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[sanmiguel]

Electra, on 2009-04-07 22:21:56, said:

Miguel,

Which bit of my post did you not comprehend?

I wasnt quoting it.

I didnt realise once i read your post that i was now enlightened. Though in response to your genius i would say that western banks hardly hold the superior moral ground when it comes to being fair with customers.

If you read my post im saying in the west it would be illegal for a cartel of banks to do what theyre doing ....... sometimes our regulators get things right for the consumer.

Thailand is supposed to have a free open market this cartel shows it is not.

Ive lived in several European countries in the last few years and have only ever got charged by my bank not the bank who provides the ATM, if i make a telephone call i wouldnt be charged by their provider aswell as my own this is akin to that.

But Lopburi99 is right banks are looking for new avenues to make profits, and they arent going to get anyone arguing with them over this.

[Electra]

What on earth are you wittering on about Miguel?

How much do you pay for your petrol at the pump or are you trundling along on your bicycle in protest at that cartel?

PS You are quite right to acknowledge my genius.

Edited by Electra, 2009-04-08 02:37:47.

[TonySoprano]

think_too_mut, on 2009-04-07 21:38:05, said:

TonySoprano, on 2009-04-07 19:43:24, said:

Yeah, basically. Also, most tourists will be getting charged just like thinktoolittle because they did not know or bother to find a fee-free atm card anyways.

Listen, you newbie. All your idiotic posts all over the board just imply you have no idea where you are.

Your Thai woman is driving you nuts. That happens to social rejects from the West.

Rookie, "think too mutt " is a Thai expression for a very anxious state of mind. That's when they get crazy and make you a fool, running like a headless chicken , as we can see you running every day on this board.

About the banks, Siam City Bank has no fees for using their ATMs. Big deal - they don't but the originating banks do.

My originating banks don't, thinktoolittle.

[oMega69]

thecatman, on 2009-04-07 17:49:37, said:

TonySoprano, on 2009-04-07 16:34:05, said:

So are there any major Thai Banks which are not members of Thai Bankers' Association?

That, I do not know, but here's a list of the banks that are members :

Bangkok Bank
Krung Thai Bank
Bank Of Ayudhya
Kasikorn Bank
Thai Military Bank
Siam Commercial Bank
Standard Chartered Bank
Siam City Bank
BankThai
UOB Bank
Thanachart Bank
Tisco Bank
Land And Houses Retail Bank
ACL Bank
Kaitnakin Bank
Thai Credit Retail Bank

So if a Use the Islamic Bank of Thailans ATM i will not get the 150THB extra fee ?! . . .

[sanmiguel]

Electra, on 2009-04-08 02:34:10, said:

What on earth are you wittering on about Miguel?

It is fairly clear, including the first line that said i wasn't responding to you in the initial post, and the line that highlights the fact ive never been charged by 2 banks for 1 withdrawal anywhere in the world, how the fcuk someone of your undoubted genius couldnt fathom this out is a worry for me.

Electra, on 2009-04-08 02:34:10, said:

How much do you pay for your petrol at the pump or are you trundling along on your bicycle in protest at that cartel?

I use red diesel, exclusively made in British waters as a protest, kills 2 birds with one stone this does, as it enables me to avoid my other pet hate ....... taxation.

Electra, on 2009-04-08 02:34:10, said:

PS You are quite right to acknowledge my genius.

Yes the only prole genius in the world who thinks Cartels that cost him money are tickityboo.

[think_too_mut]

TonySoprano, on 2009-04-08 05:12:19, said:

My originating banks don't, thinktoolittle.

OMG.

Regular man use toilet paper and pay bank fees.

But superman, like you, does neither.

If you had any clue how to navigate through daily life, you would ask yourself : who pays my bank fees?

Your bank (not Thai bank) sets the exchange rate. "No fees" rate is equal (or worse) to hotel reception desk exchange rate. Could be 10-15% worse than ATM rate.

[Electra]

Miguel,

Perhaps you had better stick with what you know best i.e. minority football from the perspective of the lower end.

Who'd have thunk it, beaten by the Black Cats and facing relegation with that girl's blouse Shearer fiddling in the dressing room?

Still, it could be worse, the HMRC could dip your tank .......

[loong]

dave2, on 2009-04-07 19:41:21, said:

thecatman

quote ... The only time you'll be able to withdraw from an ATM and not get charged this fee is when you use your Thai ATM card

use your Thai ATM card in the branch you have an account in = NO Charge

use the same card at ANY other branch of the same bank ( or any other ) anywhere in thailand

= a 20 baht charge

thats what happens with my thai millitary bank and krung thai accounts at least.

regards .....dave2

2 recent withdrawals of 15,000 Bt, charge was 25 Bt

Kasikorn bank ATM withdrawals at all Kasikorn ATMs in your province are free. Kasikorn ATMs in a different province are 10 Bt

[TonySoprano]

think_too_mut, on 2009-04-08 04:32:56, said:

TonySoprano, on 2009-04-08 05:12:19, said:

My originating banks don't, thinktoolittle.

OMG.

Regular man use toilet paper and pay bank fees.

But superman, like you, does neither.

If you had any clue how to navigate through daily life, you would ask yourself : who pays my bank fees?

Your bank (not Thai bank) sets the exchange rate. "No fees" rate is equal (or worse) to hotel reception desk exchange rate. Could be 10-15% worse than ATM rate.

Wrong again.

If the buying rate listed by kasikorn is for 35thb/usd, then my bank gives me 35.

You see how your bank statement lists the cost of the exchange and then their fee? My fee is $0.

Ok?

[theoldgit]

Why oh why does everyone have to fall out and make remarks about other board members?

[Naam]

sanmiguel, on 2009-04-07 21:42:35, said:

Naam, on 2009-04-07 19:22:20, said:

and if it was known that the fees are excessive then what? UN Security Council sanctions?

Possibly or maybe the Thai monopolies commission or similar body, would say that it is illegal for all the banks to collude into making such a deal ....... not exactly creating a free open market im sure you'd agree.

Surely all bank charges in Thailand are governed by the same laws, if Thais were to get charged 150 baht (which as all i know they do) then surely this would be seens as excessive profit and the government could put limits on such cartel like profiteering.

But Thailand have been used to a one sided free trade agreement with western nations for so long that they dont know what free trade is.

no i don't agree and there is no law, neither in Thailand nor in any other country i know, that governs bank charges. as far as any excessive profits are concerned i doubt that they exist. besides me mentioning capital investment for ATMs and of course their contents i forgot to list and incredibly big global network of leased phone lines/satellite channels and the servers kept open 24/7 which enables us to access our bank accounts even from remote areas.

But Thailand have been used to a one sided free trade agreement with western nations for so long that they dont know what free trade is.

a point on which i wholeheartedly agree with you.

[Heng]

sanmiguel, on 2009-04-07 17:36:02, said:

Heng, on 2009-04-07 10:06:07, said:

Big deal. Banks are busineses, not public services.

Many major British, European and American banks are most certainly not private stand alone businesses, you could be sure the same rules would apply to Thai banks in similar circumstances.

You know of major British, European, and American banks that are NOT profit oriented? Which ones?

I wasn't suggesting that all banks have the same business model, but in the end most if not all are in business. Serving the public does not have to = for the public good, some folks buy into PR ads too much.

[loong]

Quote

no i don't agree and there is no law, neither in Thailand nor in any other country i know, that governs bank charges. as far as any excessive profits are concerned i doubt that they exist. besides me mentioning capital investment for ATMs and of course their contents i forgot to list and incredibly big global network of leased phone lines/satellite channels and the servers kept open 24/7 which enables us to access our bank accounts even from remote areas.

As far as I know, bank charges are not governed by law, however it would be against the law for any companies in the UK that sell a similar product or service to collude on setting prices or fees.
Something like OPEC would be against the law in UK as I'm sure would be this Banking association fixing charges.

[loong]

Heng, on 2009-04-08 08:26:17, said:

sanmiguel, on 2009-04-07 17:36:02, said:

Heng, on 2009-04-07 10:06:07, said:

Big deal. Banks are busineses, not public services.

Many major British, European and American banks are most certainly not private stand alone businesses, you could be sure the same rules would apply to Thai banks in similar circumstances.

You know of major British, European, and American banks that are NOT profit oriented? Which ones?

I wasn't suggesting that all banks have the same business model, but in the end most if not all are in business. Serving the public does not have to = for the public good, some folks buy into PR ads too much.

There are still some mutuals in the UK.
Nationwide is a well known one. A mutual is actually owned by its members, not shareholders. Because Nationwide is not driven totally by profit, members often get preferential rates. That is why the cheapest ATM withdrawals in Thailand are for Nationwide members.

[longball53098]

sanmiguel, on 2009-04-07 17:39:39, said:

Tompa, on 2009-04-07 18:03:12, said:

ernest1966, on 2009-04-06 19:44:56, said:

Thailand is trying everything in its power to disuade foreigners from coming here.

Mind you, thats quite a wack, 150 baht, more than most countries.

Ernest

Your joking right? Do you seriously think any tourist/foreigners is going to change their minds and not go to Thailand because of this? If you live here and depend on cash from overseas then simply do a wire transfer once a month or so.

Tompa,

It'd be good to know the actual cost of using the machine and the setting up the computer system that transfers the money, id be willing to bet it'd be nearer a few baht then to 150 baht, this 150bht does seem excessive, thing is most tourists using Atm's in Thailand wont know about this extra charge until they return home.

Actually I don't think that's true. When they make this change and start adding the new charge there will most likely be a message on the screen asking you to confirm if you agree to the charge before continuing the transaction. If you choose yes and complete the transaction then the receipt will show the fee or a screen message will show it if no receipt is issued.

[TonySoprano]

theoldgit, on 2009-04-08 07:28:07, said:

Why oh why does everyone have to fall out and make remarks about other board members?

while thinktoolittle gives off the impression of an exasperated 122 kg man trying to fit into a size m tshirt, i thought all of my posts were clearly light hearted and comedic. plus, he will save money in the future with his new found knowledge, assuming at some point he accepts that he is wrong.

[think_too_mut]

TonySoprano, on 2009-04-08 09:16:25, said:

think_too_mut, on 2009-04-08 04:32:56, said:

TonySoprano, on 2009-04-08 05:12:19, said:

My originating banks don't, thinktoolittle.

OMG.

Regular man use toilet paper and pay bank fees.

But superman, like you, does neither.

If you had any clue how to navigate through daily life, you would ask yourself : who pays my bank fees?

Your bank (not Thai bank) sets the exchange rate. "No fees" rate is equal (or worse) to hotel reception desk exchange rate. Could be 10-15% worse than ATM rate.

Wrong again.

If the buying rate listed by kasikorn is for 35thb/usd, then my bank gives me 35.

You see how your bank statement lists the cost of the exchange and then their fee? My fee is $0.

Ok?

Before I send you to the scrapyard, for the benefit of other members, that exchange rate that you find the same is exactly where you pay your fee: your bank "giving" you the same rate as Kasikorn is actually Kasikorn's unfavorable rate that could be 10+ % worse. Your bank keeps the difference between Kasikorn's and their own rate.
The meaning of that "Zero fee" is to tell you: "Dear sucker, we, your bank, are happy with the ripoff rate that Kasikorn uses today, we are not charging you any further, that's more than enough. You are free to boast how you pay no fees, we like that utopia."

On the same day, American Express, Visa, Thomas Cook, all banks may (and mostly do) have different exchange rates.

In line with your posts here, the next claim you may make is: you don't pay departure tax when leaving Thailand and food and drinks on Thai Airways are free of charge.

Adio.

Edited by think_too_mut, 2009-04-08 08:53:37.

[Heng]

loong, on 2009-04-08 08:32:59, said:

Heng, on 2009-04-08 08:26:17, said:

sanmiguel, on 2009-04-07 17:36:02, said:

Heng, on 2009-04-07 10:06:07, said:

Big deal. Banks are busineses, not public services.

Many major British, European and American banks are most certainly not private stand alone businesses, you could be sure the same rules would apply to Thai banks in similar circumstances.

You know of major British, European, and American banks that are NOT profit oriented? Which ones?

I wasn't suggesting that all banks have the same business model, but in the end most if not all are in business. Serving the public does not have to = for the public good, some folks buy into PR ads too much.

There are still some mutuals in the UK.
Nationwide is a well known one. A mutual is actually owned by its members, not shareholders. Because Nationwide is not driven totally by profit, members often get preferential rates. That is why the cheapest ATM withdrawals in Thailand are for Nationwide members.

Of course, I concede that there are banks that aren't 'totally driven by profit.' Plenty of credit unions (I assume that's what we call 'mutuals' in the US) are the same. Omsin, the Bank of Agriculture, and the Gov. Housing Bank here are the same. One of my Texas banks: Compass Bank also charges nothing for overseas withdrawals.

My point was that in the end, they still do need to profit and if were a choice between survival (read: meeting profit targets whether high or low) and happy camper customers... no bank would choose the latter.

[TonySoprano]

The meaning of that "Zero fee" is to tell you: "Dear sucker, we, your bank, are happy with the ripoff rate that Kasikorn uses today, we are not charging you any further, that's more than enough. You are free to boast how you pay no fees, we like that utopia."


Well, apparently, 99% of the ATM cards out there give you the "Rip Off Rate" and charge you fees.

On the same day, American Express, Visa, Thomas Cook, all banks may (and mostly do) have different exchange rates.

So you are you saying its possible for me to use one of these companies to get a 35.5 exchange rate when all the ATMs/Banks are giving a 35 rate? If that is the case then you correct sir. Please give more information on how to receive this 10% higher rate.

[TonySoprano]

Heng, on 2009-04-08 09:02:53, said:

Of course, I concede that there are banks that aren't 'totally driven by profit.' Plenty of credit unions (I assume that's what we call 'mutuals' in the US) are the same. Omsin, the Bank of Agriculture, and the Gov. Housing Bank here are the same. One of my Texas banks: Compass Bank also charges nothing for overseas withdrawals.

My point was that in the end, they still do need to profit and if were a choice between survival (read: meeting profit targets whether high or low) and happy camper customers... no bank would choose the latter.

Its all in Walden's Pond...

[TonySoprano]

Come on, Heng, is thinktoomut right about being able to get 35.5 (+10% on the ATM rate) with these credit card companies? I figure you would know. My interest (aka my wallet) is piqued.

Edited by TonySoprano, 2009-04-08 09:15:05.

[Naam]

TonySoprano, on 2009-04-08 09:04:39, said:

So you are you saying its possible for me to use one of these companies to get a 35.5 exchange rate when all the ATMs/Banks are giving a 35 rate? If that is the case then you correct sir. Please give more information on how to receive this 10% higher rate.

please revise your percentage calculation

[TonySoprano]

hahhahaha

i have been up for like 36 hours now.

Edited by TonySoprano, 2009-04-08 09:34:49.

[TonySoprano]

ok, i am convinced that thinktoomutt is using some special education type twisted logic that because the banks get a better exchange rate (that is not available to ME, the consumer) I am somehow not actually using a "No Fee ATM card".

next he will tell me that the 10 baht bottle of water i bought actually cost me 15 baht because it only cost tesco lotus 5 baht to stock on their shelf.

he's probably eating mr donut crumbs off of himself getting a good laugh at me.

well done, thinktoomut

Edited by TonySoprano, 2009-04-08 09:42:41.

[Heng]

TonySoprano, on 2009-04-08 09:14:15, said:

Come on, Heng, is thinktoomut right about being able to get 35.5 (+10% on the ATM rate) with these credit card companies? I figure you would know. My interest (aka my wallet) is piqued.

I have no idea as I wasn't really listening, and I only have one credit card (Amex) which I pretty much never use anyway. Haven't really done too much research on the ways to maximize my savings on bank fees... I kinda rationalize that the banks (mostly SG banks) I use are already saving me plenty in taxes and $X in fees to them each month is acceptable.

Edited by Heng, 2009-04-08 09:55:02.