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cavanami

New ATM fee

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Just verified with Schwab that the 3.9% will not be refunded. OK, plan B, just wire a chunk from the USA when needed, as I have done in the past.

The 3.9% targets tourists and those retired here that were using the ATM withdrawals  to prove their monthly income.

Just a heads up to the lads out there...

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The lady that is the caretaker for my house has my Schwab ATM card to withdraw money for either things like a water pump for the Lawn sprinkler system or services like mainly yard work.  I trust her with it but never transfer money into it until the day before she needs to use it.  I usually check the ATM reimbursements at the end of the month and they are usually in the 7 dollars plus change range.  The last transaction was for $104 for 3,000 baht (before ATM reimbursement), so maybe she is using a bank that doesn’t charge the 3.9%.  If the Coronavirus last up, I plan on coming over for two months next winter to supervise work on my wife’s house with her ex husband, who died last January. It’s in the Hong Dong area of Chiangmai and looks like a typical house in an average sub division.  Except that it has Thai toilets and a partial roof.  I’ll be using the Schwab card to pay for materials and labor to fix the house up to rent out.  If I’m going to be charged 3.9% on top of the 220 fee, I’ll wire the money or carry $9,000 on me when I come over.

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Now I found that TMB, Thai Military Bank, is charging a 5.5% "conversion fee". Bastards!!!

So now only Bangkok Bank is not charging these extra fees, only the 220 baht fee, like they all do now. Not sure about GSB or some of the other banks.

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On 8/24/2020 at 5:33 PM, cavanami said:

Now I found that TMB, Thai Military Bank, is charging a 5.5% "conversion fee". Bastards!!!

So now only Bangkok Bank is not charging these extra fees, only the 220 baht fee, like they all do now. Not sure about GSB or some of the other banks.

That fee that looks only 220THB is recouped by a bank through currency conversion fee. To send 20,000THB to my condo for yearly maintenance I have to send 20,700THB + local fee of about 500THB.

 

Bangkok Bank, originating from Citibank (Japan) now called different but no change in fees over last 17 years.

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