Thai banks looking to ATM fees

[rincondog]

The Thai Banking Association has plans that 150 Baht has to be paid for every withdrawal with a non-Thai debit or credit card at an ATM, beginning April 17

Source:
https://www.thanachartbank.co.th/CDS/TH ... /index.asp

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[pyro]

That sounds kinda high. I hope that if they decide to do it, they settle on a more reasonable fee.

The more and more I think about it, Travellers Cheques are the best bet. You get a higher rate when cashing them in, however, there is a 20-30 bht charge for each cheque. Debit, credit cards, top up cards, they are all out there to make money from you. I think we should abandon them unless you need "credit" of course.

[krobbie]

The more and more I think about it, Travellers Cheques are the best bet. You get a higher rate when cashing them in, however, there is a 20-30 bht charge for each cheque. Debit, credit cards, top up cards, they are all out there to make money from you. I think we should abandon them unless you need "credit" of course.

I have just come to the same conclusion. I don't think I have carried travelers cheques since the 1970's but now? Hmm.

I just figured out that I will now pay:
a) the new Banking Association charge - 150bt
b) a fee for using any Thailand banks money and the repayment of such - 200bt
c) an ATM fee - 150bt
d) a transaction fee - 50bt

Jesus H ... what a bunch of gougers. It has taken me hardly any time to wake up to this scam. After all I am only in my mid fifties. Gosh learning new things everyday.

Cheers,
krobbie

[DJB0Y-old]

Has anyone had any experience opening a bank account at Bangkok Bank in Bangkok?

I'm thinking to do this to take advantage of the international transfers through their New York branch.

I have to come up with an alternative to this outrageous ATM charges which make me sick to my stomach.

Thanks,

U can open an account here with tourist visa. You will also need residential
certificate, which u can get from the immigration office with your passport,
2 photos, 200B and proof of address ( utility bill, rental agreement or house title.
Dont know what the hotel guests have to show).

I opened 2 accounts, one in BKK, one in PTY. This is to avoid the
charges imposed on using the ATM outside of the city from which it was issued.
Money tranfer is free online between these two accounts.

Has anyone had any experience opening a bank account at Bangkok Bank in Bangkok?

I'm thinking to do this to take advantage of the international transfers through their New York branch.
...,

Another Thai bank in the US is Kasikorn in Los Angeles. Unfortunately they would still charge a fee of $30 for an international transfer to a bank account in Thailand. Don't know if the new fees would affect a Kasikorn-US atm card used in Thailand.

[x in pattaya]

Has anyone had any experience opening a bank account at Bangkok Bank in Bangkok?

I'm thinking to do this to take advantage of the international transfers through their New York branch.

I have to come up with an alternative to this outrageous ATM charges which make me sick to my stomach.

Thanks,

That's what I did, but in Pattaya. When I opened the account over ten years ago, I just walked in with my passport and paid in B500. I didn't even have a visa. I was here on 30 day visa exemption. I guess the requirements are slightly greater now.

Now I just go online and instruct my money market fund in the US to make an electronic transfer from my account with them to my Bangkok Bank account. Since the deposit is made to the New York branch of Bangkok Bank, it is a domestic transfer, not an International transfer, so my money market fund doesn't charge anything.

Usually in a couple of days the deposit appears in my account here. The rates have always been good compared to those available for exchange locally and the money is available almost immediately. I usually make 2 or 3 deposits a year to maintain the B 800,000 I'll need to extend my visa each year. Never had a glitch of any kind. I've been very lucky in my timing with exchange rates .

[TrongpaiExpat]

I have a Bangkok Bank account and make on-line transfers with out big fees, easy and fast. I opened it at the Silom branch with an O-A Visa (retirement). Lots of paperwork and I must have signed my name 20 times.

It appears that different banks have different rules for farangs and even between branches the rules are interpreted differently. I recently had to help a friend in Pattaya open a Bangkok Bank account (Big C South Pattaya Rd) as they would not give him an account without a letter of reference from another farang with an established Bangkok Bank account. I told him to just try another branch but he did not want to try that. I went with him and I was subjected to a battery of verification questions and identity inspections.

Another thing I can't figure out is when I used my Bangkok Bank ATM in Pattaya, I am charged 30B because the account resides in Bangkok. In Bangkok, no fees for an ATM withdrawal or transfer to another Bangkok Bank account, 30B if I transfer to another bank in Thailand.

Right now my US bank reimburses me for ATM usage from another bank up to a 12 dollar limit per month. Most of the ATM's in Bangkok hide the ATM charge but somehow my US bank picks up on it and credits my account. In Pattaya, some of the ATM's show on the receipt the actual ATM charge.

I'll have to wait and see if these new charges are picked up my my US bank. I guess I can limit the number of withdrawals by making larger withdrawal amounts, that will make the pick-pockerters happy.

being hit hard by the financial tsunami i think now banks will creatively think of ways to charge an extra buck here and there. though from time to time i read otherwise, it seems impossible for visiting tourists -- even frequent ones -- to open a local thai bank account. having said that, please enlighten me if any of you gentlemen knowing any secret way to beat the system and regulations.