Genericnic

ATM fees on the rise

24 posts in this topic

Well out friends at Krungsri Bank (the yellow one) have decided it is time to pay for another swimming pool. Used the ATM near the Shangri-La Hotel today and the fee has now gone up to 220 baht, a 10% increase since I last used it. Don't know if that increase is just for Krungsri or all banks but my bet is on all of them. Amazes me what they charge when you can do an ATM withdrawal anywhere in Japan for free. 

 

David

 

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Been 220 baht for a while now at all banks for foreign ATM card transactions.

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25 minutes ago, ubonjoe said:

Been 220 baht for a while now at all banks for foreign ATM card transactions.

Guess it has been longer since I used the ATM than I thought. Still a nice example of greed though.

 

David

 

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17 minutes ago, Genericnic said:

Guess it has been longer since I used the ATM than I thought. Still a nice example of greed though.

 

David

 

Not sure where your from but you must have a fee exempt from your home land as that is nothing if your home country is usually charging as well

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1 hour ago, ubonjoe said:

Been 220 baht for a while now at all banks for foreign ATM card transactions.

 

Except for the Bank of China .. the new CM branch is in Chiang Mai business park behind Big C

 

Accepts Mastercard and Union Pay

 

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Not news.

First thread I find is from January.

 

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Been like that for a while. If you're living here, best open a local account to avoid fees / issues.

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4 hours ago, BEVUP said:

Not sure where your from but you must have a fee exempt from your home land as that is nothing if your home country is usually charging as well

From the US and I use Charles Schwab. No fees and they reimburse me for the ATM fees each month. And I use Capital One credit cards so no fees there either.

 

David

 

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David,

 

Which no fees Capital One credit cards do you have?  

 

Thanks.

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My Schwab card is a great deal.  Not only are ATM charges rebated but also the bank applies no foreign transaction fees (which typically amount to 1-3%).  If you are American, it pays to look at the few U.S. banks that offer free plastic featuring no ATM or foreign transaction fees.  My back-up card is issued by Stanford Federal Credit Union, which offers membership via a one-time $5 donation to the Palo Alto public library system.  Check out https://www.sfcu.org/ and save big baht!

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The fees help pay for the Thai Banks Non-Performing loans. Many homeowners are months and years past due

and the banks never foreclose on them. They just renew the loans after making a couple of payments. One day

they'll have to look at home value compared to loan balance. Many of the loans are upside down.

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AEON still charges 150 baht for withdrawals from foreign banks.  Unfortunately AEON ATM's are few and far between, and long lines form at them at the beginning and end of months.

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This must help the tourist industry no end!


Sent from my iPhone using Tapatalk

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Most Big C's have an Aeon, use them as often as you can or change inside banks.

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On 21/04/2017 at 8:42 PM, Mickeem said:

 

Except for the Bank of China .. the new CM branch is in Chiang Mai business park behind Big C

 

Accepts Mastercard and Union Pay

 

Which Big C do you mean...Super Highway, Mae Hia 1 or Hang Dong/Sanpatong 2 ?

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48 minutes ago, trainman34014 said:

Which Big C do you mean...Super Highway, Mae Hia 1 or Hang Dong/Sanpatong 2 ?

Super highway, its at the rear of Big C, on other side of the road.

regards worgeordie

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Use online transfer instead via a third party. I use Transferwise which gives an excellent rate (much better than the banks or visa) and charges very little. Its peer-to-peer, they take advantage of people moving money in different directions.  (my last transfer of GBP330 cost about 3 quid).

 

And if you click this link, your first transfer up to GBP500 will be with no charge.

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I have two different credit union accounts...neither would allow me to link with Bangkok Bank New York.  But,  I use my Thai bank for ATM, I can use any Thai Bank nationwide and not pay a fee...unlimited times per month.  And get 1.5% APR, paid monthly...free card, free first year...then 100 THB per year.  More and more banks rely on fees for profit...the old model of loaning money out at higher rates paid to depositors has been on hold for years.  Many are simply too lazy to fill out the paperwork, now required.  GMAC is in far worse shape than the Thai Banks.  Not news to most, but their cars lose ha!f their value in two years while the balance is only 20% less...or worse.  Try comparing that to real estate in Thailand.

Edited by KhonKaenKowboy

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On 4/22/2017 at 7:39 AM, Dante99 said:

David,

 

Which no fees Capital One credit cards do you have?  

 

Thanks.

I use the Capital One Venture Reward card. I use it to pay for just about everything - food, Internet, airfare, travel, etc. It has an annual fee of US$59. I get 2 miles per dollar spend. While their interest rate on a carried balance is a bit high, I never carry a balance so it doesn't matter to me. Even after the annual fee, I manage to net about US$200 per year in rewards. 

 

For getting monthly spending money into Thailand, I use my Schwab ATM card. You get the best rates, no fees, and ATM charge reimbursement. I've used it all over the world and never had a problem.

 

Both are highly recommended.

 

David

 

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On 04/22/2017 at 11:33 PM, KhonKaenKowboy said:

  But,  I use my Thai bank for ATM, I can use any Thai Bank nationwide and not pay a fee...unlimited times per month.  And get 1.5% APR, paid monthly...free card, free first year...then 100 THB per year. 

You have thrown in several items in your post.

Can you clarify the above?

Do you mean you have an account with a Thai bank that allows you to use their ATM card anywhere in Thailand without any fees? Withdrawals, at ATMs or counter with no fee even outside your base area?

If so which bank and what type of account.

Thanks.

 

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26 minutes ago, Wandr said:

You have thrown in several items in your post.

Can you clarify the above?

Do you mean you have an account with a Thai bank that allows you to use their ATM card anywhere in Thailand without any fees? Withdrawals, at ATMs or counter with no fee even outside your base area?

If so which bank and what type of account.

Thanks.

 

CIMB SPEED SAVINGS PREFERRED......Visa debit card...no interbank fee no inter province fees...unlimited, at ATM.  most banks take 50 THB for a counter withdrawal, but since it isn't itemized, many think it is free; it is not.  Get 20000...you actually get the visa rate for 20050 in your currency on your statement, and are handed 20000.

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BANGKOK 26 April 2017 03:26
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