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cavanami

New ATM fee

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Pulled some cash via both SCB and Kasikorn ATM machines....both still have the 200 baht fee plus now they have a 3.9% transaction fee....WTF is this????

Pulling from my USA account, last month only had the 220 Baht....

Didn't have the 3.9% fee last month!!!

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I take out 20,000 baht

780 baht, the new fee

220 baht, the old fee = 1000 baht total fees! plus maybe a decent exchange rate, maybe not....grrrrrrr......

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Just curious.....did the ATM screen come up with a message saying that there was a 3.9% fee levied on the transaction?

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Yes, the screen listed the new 3.9% fee. All the fees are also listed on the transaction receipt.

You can also opt out and cancel the transaction.

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In addition, since tourism is way down in Thailand, this is just another method to FtF (Fark the Farang)...and get extra $$$ 😡

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Hi,

With regards to the exchange rate, IIRC there is a screen where it asks if you want to accept the exchange rate. Always say No, as that will result in the actual rate being used rather than the suggested one by the bank (which is inevitably in their favor).
Same goes for paying with Paypal, always pay in the original currency as that results in a better exchange rate.

Sanuk!
 

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Am I missing something but what is wrong with having a Thai Bank Account and transferring funds from overseas, getting the offshore rate and making transfer when exchange rate is in your favor.

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Using a Thai ATM to draw funds out of my USA bank account at Schwab, I get refunded the 220 Baht fee. I asked Schwab if they will refund the 3.9% also, waiting their reply. If Schwab doesn't refund the 3.9% fee, then I will do a wire transfer once a year or whatever suits me, playing the exchange rate game.

The wire transfer fee is (was? haven't check it is a while) $25, which is cheaper then the 3.9%, at least for me...

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On 5/17/2020 at 4:28 PM, cavanami said:

I take out 20,000 baht

780 baht, the new fee

220 baht, the old fee = 1000 baht total fees! plus maybe a decent exchange rate, maybe not....grrrrrrr......

You get the 220 Baht back so only 780 Baht fee not 1000, stop bloody moaning 😉 hehe

I have wired money for years now, always been the best option for me.

The last transfer I made lasted ages then I realized the malls were locked down why did they reopen?

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