Bank ATM Fees 180

[papaguido]

Mind telling us what Bank charges you no fee to wire Transfer your funds to Bangkok Bank NY since I believe all Transfers must go through NY. I also believe NY then charges you a fee that might not be known to you ranging from $5.00 upwards.
Then Thailands fee of 200 - 500 Baht.
To find out for sure next time you do a wire transfer ask the Branch to do a print out of the Transfer then you will know for sure.

You are wrong about everything going through New York Bangkok Bank, my Bank of America account wires funds directly to Thailand and I see ALL charges, which is NONE due to type of Bank of America account, and when wife receives funds she tells me amount received. I then add the 200 baht fee if small amount (say $800) and compare to rate advertised by Bangkok Bank when transferred done and usually within 4 or 5 baht of what it should be. The most fee I have paid is 500 baht when I send large amounts (say $8,000) for house repairs. Fee info is on Bangkok Banks web page, a little hard to find but there.

Fees schedule from BBNY...



http://www.bangkokbank.com/BangkokBank/ ... omUSA.aspx

Plus another charge from the local receiving bank which is no longer published on Bangkok Banks website and ranges from 200bt to 500bt depending on the $$ amount transferred in.

*I receive SMS from BKK bank detailing the transaction fees when my transfer is completed.

Papa, your chart is correct if you transfer ACH via Bangkok Bank New York but I wire transfer using Swift Code BKKBK which does not go through New York so only fee from Bangkok Bank is the 200 to 500 baht you stated above.

Didn't know about transferring through swift, good info. Thanks...

[Stantheman]

I wanted to clarify that my transfer fee from Bank of America is free because of type account I have(formally military account), normally most banks charge between $25 and $40 to do a wire transfer so if not free wire the Bangkok bank in New York option is cheaper.

[parrot]

First a note......I flunked my freshman college algebra class, so I'm no math wizard.

The subject of ATM versus transfers versus other means of bringing money into Thailand from abroad comes up frequently. It seems to me that many people focus on the ATM fee (180 Baht) or that their ATM fees are reimbursed. But my understanding is that no matter if your 180 Baht fee is reimbursed, you're still going to pay a minimum 1% foreign transaction fee every time you use the ATM. Some banks charge as much as 3%. So, with that in mind, consider a few scenarios:

If you were able to ATM $1000 in a single transaction, you would pay $5.45 for the ATM fee (all my figures are 33/$1). You would also end up paying at least $10 (1% of $1000) as a foreign transaction fee. If your ATM fees aren't reimbursed, you pay $15.45.

If your bank in the US (such as Charles Schwab) offers free transfers, you could transfer the same $1000 through the Bangkok Bank of NY for $5.00 (standard fee for sums between $100-$2000), plus a 0.25% foreign transaction or minimum 200 baht fee (0.25% x $995).....for a total of $11.06

Using the same (possibly faulty math on my part).....a $2000 transfer through NY would still only cost $11.06 (same $5 fee plus 200 Baht minimum foreign transaction fee (0.25%x$1995).

But using the ATM, assuming you were able to take out $2000 in a single ATM transaction, you would pay $5.45 (180 baht), plus $20 (660 Baht) in the 1% foreign transaction fee, for a total of $25.45

If you transferred $5000 through BB NY (again using a bank like Schwab), you would pay $10 for the transaction plus 0.25% in foreign transaction fees for a total of $22.47

And, again, assuming you could take out $5000 in one ATM transaction, you'd pay the $5.45 (180 baht), plus $50 (1% of $5000), for a total of $55.45

To me, the 1% foreign transaction fee is what adds up over time......maybe not something that would concern me if I were a part time or vacation visitor, but definitely adds up when you're living in country full time.

I'm not aware of any other way to transfer money to Thailand in large amounts as cheaply as through Bangkok Bank....again assuming your stateside bank doesn't charge for the in-country (USA) transfer, such as Charles Schwab.

Certainly for starters, anyone using an ATM on a regular basis should check the fine print to be sure they're not paying more than the standard 1% foreign transaction fee. I have seen in writing where some banks now charge 3%.

My math might be wrong.....and I welcome anyone who can point out my mistakes. I'm used to it.

[papaguido]

First a note......I flunked my freshman college algebra class, so I'm no math wizard.

The subject of ATM versus transfers versus other means of bringing money into Thailand from abroad comes up frequently. It seems to me that many people focus on the ATM fee (180 Baht) or that their ATM fees are reimbursed. But my understanding is that no matter if your 180 Baht fee is reimbursed, you're still going to pay a minimum 1% foreign transaction fee every time you use the ATM. Some banks charge as much as 3%. So, with that in mind, consider a few scenarios:

If you were able to ATM $1000 in a single transaction, you would pay $5.45 for the ATM fee (all my figures are 33/$1). You would also end up paying at least $10 (1% of $1000) as a foreign transaction fee. If your ATM fees aren't reimbursed, you pay $15.45.

If your bank in the US (such as Charles Schwab) offers free transfers, you could transfer the same $1000 through the Bangkok Bank of NY for $5.00 (standard fee for sums between $100-$2000), plus a 0.25% foreign transaction or minimum 200 baht fee (0.25% x $995).....for a total of $11.06

Using the same (possibly faulty math on my part).....a $2000 transfer through NY would still only cost $11.06 (same $5 fee plus 200 Baht minimum foreign transaction fee (0.25%x$1995).

But using the ATM, assuming you were able to take out $2000 in a single ATM transaction, you would pay $5.45 (180 baht), plus $20 (660 Baht) in the 1% foreign transaction fee, for a total of $25.45

If you transferred $5000 through BB NY (again using a bank like Schwab), you would pay $10 for the transaction plus 0.25% in foreign transaction fees for a total of $22.47

And, again, assuming you could take out $5000 in one ATM transaction, you'd pay the $5.45 (180 baht), plus $50 (1% of $5000), for a total of $55.45

To me, the 1% foreign transaction fee is what adds up over time......maybe not something that would concern me if I were a part time or vacation visitor, but definitely adds up when you're living in country full time.

I'm not aware of any other way to transfer money to Thailand in large amounts as cheaply as through Bangkok Bank....again assuming your stateside bank doesn't charge for the in-country (USA) transfer, such as Charles Schwab.

Certainly for starters, anyone using an ATM on a regular basis should check the fine print to be sure they're not paying more than the standard 1% foreign transaction fee. I have seen in writing where some banks now charge 3%.

My math might be wrong.....and I welcome anyone who can point out my mistakes. I'm used to it.

You nailed it.

In my experience...the credit union I bank with credits me 15 free ATM charges a month, international/domestic. The default ATM withdrawal is $600 daily, but I requested a $1000 daily limit and some local banks here allow a 30,000bt withdrawal so I can make a one time ATM withdrawal of my daily limit depending on the exchange. I seldom use this method and only set it up as a "back-up" preferring to make ACH fund transfers through BBNK. It's more cost effective for me for amounts over $1000 using an ACH transfer through my credit union which are also free.

Another method is using making a cash advance on a debt card, no bank fees (in my experience), but it incurs a 1% fee on the exchange/conversion. My default is $1000 through my credit union, but I also had that reset for $2500 as a back up if needed.

[waanjai]

Amazingly, there are more banks and ways to use them than only the banks in North America.

Seen from other parts of the world there are two different ways to receive cash in Baht in Thailand.

First, You may transfer from your foreign bank to your Thai bank. This usually involves a. the transfer fee of Your foreign bank (mostly 1.5%), b. a very low SWIFT fee and c. the fees imposed by the receiving Thai bank.

Second, You may use one of your foreign ATM-ready debit or credit cards and You would have to pay the fees for the conversion (foreign curreny transaction) plus the 180 Baht fees imposed on foreign ATM cards.

Now one might think that You have to only calculate the various costs associated with the two described ways of getting Thai Baht cash in Thailand. But this would mean jumping much too short.

In the past You saved (or "earned") most thru transfering foreign money to your Thai bank account while the exchange rate was most suitable. As You might remember there were a few currencies which experienced losses of more than 20% in a rather short time (British Pound, EURO e.g.).

So one was well advised to transfer money to Thailand, when the exchange rates were good and to stop converting money when these were not suitable.

In a nutshell:
If You use debit or credit cards in Thailand to get hold of Thai cash, You will always get the exchange rates of your current stay in Thailand. Whether good or not soo good.
If You use Your Thai bank account, you will always try to transfer foreign money to Thailand when it is most advisable.

[Peter USNR]

What Bank allows you to withdraw up to 30,000 Baht as I have never come across one

First a note......I flunked my freshman college algebra class, so I'm no math wizard.

The subject of ATM versus transfers versus other means of bringing money into Thailand from abroad comes up frequently. It seems to me that many people focus on the ATM fee (180 Baht) or that their ATM fees are reimbursed. But my understanding is that no matter if your 180 Baht fee is reimbursed, you're still going to pay a minimum 1% foreign transaction fee every time you use the ATM. Some banks charge as much as 3%. So, with that in mind, consider a few scenarios:

If you were able to ATM $1000 in a single transaction, you would pay $5.45 for the ATM fee (all my figures are 33/$1). You would also end up paying at least $10 (1% of $1000) as a foreign transaction fee. If your ATM fees aren't reimbursed, you pay $15.45.

If your bank in the US (such as Charles Schwab) offers free transfers, you could transfer the same $1000 through the Bangkok Bank of NY for $5.00 (standard fee for sums between $100-$2000), plus a 0.25% foreign transaction or minimum 200 baht fee (0.25% x $995).....for a total of $11.06

Using the same (possibly faulty math on my part).....a $2000 transfer through NY would still only cost $11.06 (same $5 fee plus 200 Baht minimum foreign transaction fee (0.25%x$1995).

But using the ATM, assuming you were able to take out $2000 in a single ATM transaction, you would pay $5.45 (180 baht), plus $20 (660 Baht) in the 1% foreign transaction fee, for a total of $25.45

If you transferred $5000 through BB NY (again using a bank like Schwab), you would pay $10 for the transaction plus 0.25% in foreign transaction fees for a total of $22.47

And, again, assuming you could take out $5000 in one ATM transaction, you'd pay the $5.45 (180 baht), plus $50 (1% of $5000), for a total of $55.45

To me, the 1% foreign transaction fee is what adds up over time......maybe not something that would concern me if I were a part time or vacation visitor, but definitely adds up when you're living in country full time.

I'm not aware of any other way to transfer money to Thailand in large amounts as cheaply as through Bangkok Bank....again assuming your stateside bank doesn't charge for the in-country (USA) transfer, such as Charles Schwab.

Certainly for starters, anyone using an ATM on a regular basis should check the fine print to be sure they're not paying more than the standard 1% foreign transaction fee. I have seen in writing where some banks now charge 3%.

My math might be wrong.....and I welcome anyone who can point out my mistakes. I'm used to it.

You nailed it.

In my experience...the credit union I bank with credits me 15 free ATM charges a month, international/domestic. The default ATM withdrawal is $600 daily, but I requested a $1000 daily limit and some local banks here allow a 30,000bt withdrawal so I can make a one time ATM withdrawal of my daily limit depending on the exchange. I seldom use this method and only set it up as a "back-up" preferring to make ACH fund transfers through BBNK. It's more cost effective for me for amounts over $1000 using an ACH transfer through my credit union which are also free.

Another method is using making a cash advance on a debt card, no bank fees (in my experience), but it incurs a 1% fee on the exchange/conversion. My default is $1000 through my credit union, but I also had that reset for $2500 as a back up if needed.

[papaguido]

What Bank allows you to withdraw up to 30,000 Baht as I have never come across one

The yellow bank for sure, withdrew 30K last week.



Don't recall which other bank, may have been Krungthai bank.

[Svein66]

What Bank allows you to withdraw up to 30,000 Baht as I have never come across one

The yellow bank for sure, withdrew 30K last week.



Don't recall which other bank, may have been Krungthai bank.

I only know of the yellow bank. Bangkok Bank has up to 25000 in one withdrawal.

[papaguido]

*Correction*...I have no idea what each bank's max ATM withdrawal is. I was referring to the "Fast Cash" option on the ATM machine screen, e.g.

[danchatka]

I'm glad it's now easy for a tourist to open a Thai bank account, transfer in money from abroad, and avoid the 200 Baht ATM withdrawal fee

Besides Bangkok Bank, which other Thai banks offer accounts to foreigners on a tourist Visa?

[parrot]

I'm glad it's now easy for a tourist to open a Thai bank account, transfer in money from abroad, and avoid the 200 Baht ATM withdrawal fee

Besides Bangkok Bank, which other Thai banks offer accounts to foreigners on a tourist Visa?

I've opened a number of bank accounts over the years....Bangkok Bank, Siam Commecial, Ayuthaya, Kruang Thai, Kasikorn.........I almost always show my passport (sometimes just my driver's license). I don't ever recall a clerk looking at the visas. I doubt most of them know how to sort out a multiple stamps in a passport.
Seems to me the only thing they're interested in is the picture page....which they photo copy and you sign.

On the other hand, if you walk into a bank and announce that you're a tourist.....well, who knows. I see no reason to announce that fact to the bank.

[danchatka]

@Parrot, based on your experience with all these banks, which one(s) do you like best?

As for Bangkok Bank, a drawback is that their ATM card can only be used at their ATM (as of now).

A good thing about Bangkok Bank, is that they have branches in New York and London. At least for the USA case, this is supposed to allow transferring money at a lower cost than a SWIFT transfer.

[parrot]

If you want near-24/7 and near anywhere in Thailand, then it seems Bangkok Bank and Siam Commercial rule. While Krungthai bank outlets are as many, I'd guess they make up for it in ubiquitous ATMs.
I keep my Bangkok Bank account open because of the ease of transferring funds through their bank in NY to my account here and because it's hard to go far without finding a Bangkok Bank ATM. That said, I don't like going into the main Bangkok Bank to conduct business.......unless things have changed recently, they tend to be much slower/formal than SCB. For in-bank business, I prefer the SCB branch on Phosri Rd. There's usually a manager there who speaks pretty good English to get past my mangled Thai.

[papaguido]

As for Bangkok Bank, a drawback is that their ATM card can only be used at their ATM (as of now).

That particular card is a Be1st Smart Card and contains a chip that can only be read at Bangkok Bank ATM's. Another debt card is available without the chip and may be used at any ATM, it's called the Be 1st Debt Card.

http://www.bangkokbank.com/BangkokBank/ ... fault.aspx

[danchatka]

Thanks @papaguido!

I didn't know there was an option to get a full-fledged Debit card.
Being able to use my card at any ATM will be more convenient.

[papaguido]

Thanks @papaguido!

I didn't know there was an option to get a full-fledged Debit card.
Being able to use my card at any ATM will be more convenient.

Be aware that you'll incur a 20bt ATM charge for using a Bangkok Bank debt card at another bank other than BKK Bank. Most banks charge this fee. Krungsri (Yellow bank) offers a card that waives the ATM fees.

https://www.krungsri.com/bank/en/All-Pr ... s/175.html

Also, when opening a account while on a tourist visa it may be hit or miss. Not all banks/branches operate under the same policies.

[747man]

Thanks @papaguido!

I didn't know there was an option to get a full-fledged Debit card.
Being able to use my card at any ATM will be more convenient.

I THINK You will find it is NOT A DEBIT Card,ie: You CANNOT Purchase " Stuff " Over the internet with Krungsri's Card as I Found out ,YES,It IS Backed by VISA,But does NOT Say DEBIT Card on the actual card...... The ONLY Advantage was The " Free " Withdrawl of funds from YOU'RE Krungsri Current Account at ANY Banks ATM Within Thailand.....But it costs 350 Baht for the card....

[Svein66]

.....But it costs 350 Baht for the card....

I paid 500 baht for my UDFC-card (Udon Thani FC) from Kasikorn...
Can use it in any ATM in Thailand, but costs 20 baht outside Udon Thani.

[Twixies]

Thanks @papaguido!

I didn't know there was an option to get a full-fledged Debit card.
Being able to use my card at any ATM will be more convenient.

I THINK You will find it is NOT A DEBIT Card,ie: You CANNOT Purchase " Stuff " Over the internet with Krungsri's Card as I Found out ,YES,It IS Backed by VISA,But does NOT Say DEBIT Card on the actual card...... The ONLY Advantage was The " Free " Withdrawl of funds from YOU'RE Krungsri Current Account at ANY Banks ATM Within Thailand.....But it costs 350 Baht for the card....

Seems like the banks got more greedy now. Fee in ATM changed to 200. When is this going to stop. I pay more in Thailand now, than my fee in the EU banks

[waanjai]

Seems like the banks got more greedy now. Fee in ATM changed to 200.

This is actually the news!

But of course only for users of Thai ATMs with foreign credit or ATM cards. Which means that tourists coming to Thailand should get a credit card with a bank that refunds the Thai surcharge of 200 (lately 180) Baht.

The free Coke is also new.