What are the fees and exchange rates for withdrawing cash from ATMs in Thailand?

@James *********

You might find one that will waive the fee but not many anymore

@Gregor *********

then you don’t have a credit card…

@Todd ********

yep we figured out why he's not being charged for cash advances. Otherwise that's an infinite money glitch where he could just invest interest free cash

@Gregor *********

it’s not the fees that matter. It’s the exchange rate. And DKB advertises 1.75% cost on exchange rate. But most customers simply don’t understand.

And if you withdraw, you immediately start paying interest right away. Have a look at your statement for any month you withdrew cash. Sorry.

And yes - definitely decline the ‘dynamic’ rate but I always verify the difference right away with my banking app. Sometimes the offered rate is extremely close.

@Todd ********

" It’s the exchange rate. And DKB advertises 1.75% cost on exchange rate. But most customers simply don’t understand." . . . .you are wrong. I don't pay any interest on foreign ATM withdrawal, and I don't pay any 1.75% provision on my DKB VISACARD. I am the so called "active customer". I only pay 2.49.- Euro per month for the card and there are ZERO extra costs for spending abroad. How would I have to pay interest on money already in the Credit Card account? It's vice versa - THEY pay interest to me!

@Gregor *********

i am most definitely not wrong. And you pay 30 euro per year on top?! Wow. For the convenience of paying them 22% interest. Fun. You can understand why I steer away from cards like this

@Gregor *********

the voice of obvious experience

@Gregor *********

I don't know why you keep saying "real" credit card. A visa debit card works the exact same. Your bank may have some odd allowance for cash advances, but generally a cash advance on credit cards will trigger fees and interest being incurred straight away.

@Alistair *********

Gregor doesn’t even understand the fee structure of his own card. Or how foreign exchange works. Or how internet is charged. But they actively market to this level of financial ‘expertise’ with ‘no fee’ offers.

@Todd ********

we are not talking on the same level. My DKB Visacard is based on my "credit card account" which I got next to my "giro account", and this credit card account is always in the plus, because I pay money into it. At the moment there is 25.000.- Euro in this account, earning interest, and when I withdraw 3800.- THB, my balance will end up at .- Euro in the plus and I still don't pay any interest! YOUR credit cards draw up a debt, which gets reimbursed only once a month from your giro account, that's why you are paying interest, because you have built up a debt for a short period. You owe that to your turbo capitalist U.S. banking system 😃 As I said: "U.S. Americans are SERVANTS (should I say slaves?) of their system, whilst Europeans are SERVED by their systems. . . best example the health system: In Germany, it serves everyone equally. In the U.S.A., it serves only the riches, and the poor are receiving only the lowest care. I know many of you call it wrongly "communism" but that's not what it is

@Gregor *********

what you're describing is a debit card. Credit refers to lending of money by your bank, you're holding cash in your account which the bank deducts from when you make transactions. That's a debit card.

I'm not sure why you keep attacking America on credit cards, the entire world uses credit cards the same way. Throughout Asia, UK, Australia, North America, etc. That's how credit works.

@Alistair *********

We can pay more on our credit card bills and we get a balance.

No interest on the balance.

That's what Gregor is telling you.

Debit card is different

@Alistair *********

et al! You most obviously DON'T understand the DKB bank card system.

I got a VISA-CARD - a real friggin' credit card

For this VISACARD there EXISTS an account. In this credit card account I park money (as of today there are 25.000.- Euros) So my credit card account balance never falls below zero

So if I purchase anything using my VISACARD, or withdraw money at an ATM with my credit card, I pay ZERO INTEREST and ZERO PROVISIONS, because the money already is in my credit card account.

If I purchase something for 3870.- Thai Baht, it would set my credit card balance back 100.- Euros. From 25,000 to 24,900.- Euros. And that’s it.

No interest, no 1,75% provisions

My credit card account is always in the plus!

I would only have to pay interest, if a run the account balance into minus! However this does not happen. I can always shift money from my giro account onto my credit card account to keep it in the plus.

I could run my VISA-CARD into minus 4000.- Euros, and then, only then, would I need to pay interest.

And at the same time I got a giro account with the DKB bank. If I wanted to use this giro account for purchases and withdrawals, I would need to use the “DKB Visa Debit Card” that I got issued by the DKB bank, NEXT to my DKB VISACARD

Then, and only then, I would have to pay a provisional percentage on purchases and withdrawals.

Why I don’t use this “DKB Visa Debit Card”?

Because my REAL credit card, the DKB VISACARD, offers provisions-FREE foreign purchases and charge-FREE foreign withdrawals

The ONLY charge I pay to keep the VISACARD, are 2,49.- Euros monthly fee

The “DKB Visa Debit Card” is issued for free

Is this UNDERSTOOD now?

If your bank doesn’t offer THESE wonderful conditions, I am sorry for you

@Gregor *********

you are quite far out of your league here. Europe sometimes so backwards they can only see their own sphincters.

What you have (as Alastair mentioned) is a debit card. Which every 6 year old in America has. Not a credit card. What kind of a fool would park 25k euro at ultra low interest in an account to cover their card. A ‘credit’ card is so named because it offers ‘credit’. Not your own goddamn money. You pay on the card and as long as you pay off the balance monthly, you incur zero interest charges.

It now makes sense what you are talking about though.

And when you pay you receive a dynamic conversion penalty of 1.75%. Luckily for shareholders, your bank is not in the business of charity.

@Gregor *********

yep that's how a debit card work.

I and Todd both understood a long time ago. It may be called a visa credit card but YOU use it and it functions as a debit card. If you'd like I can explain the debit and credit system to you...

You keep going on about global banking yet don't understand basic concepts. In banking debit is using your money, credit is using borrowed money. You use your money. Yeah you may use a credit card, but it's linked to your money being debited. I have the exact same set up but with a debit card and my home loan account.

@Alistair *********

well, it may work differently in the EU than in the U.S.A. . . . a "Visa-Debit Card" does NOT have the same advantages than a real "Visa Credit Card". Banks in Europe actually draw differences. This is what

@Todd ********

is ignoring, or maybe just isn't aware of. Some cards issued in Europe actually have conditions U.S. citizens can only dream about 😁and the same can be said about health insurances . . . . .don't forget in the U.S. you are the servants of the system, instead of the system serving you

@Gregor *********

can you not get the visa exchange rate with a visa debit card issued by an EU bank? A note, credit cards and debit cards in every country around the world have advantages and disadvantages. Otherwise they would be the same product...

Im not American either

@Alistair *********

the exchange rate with a credit card (at least with THOSE European cards that do NOT charge a foreign remittance or purchase fee, like the one I use!) at an ATM actually is VERY good! It's better than an exchange with cash on a bank counter. However you need to spread the 220.- Baht ATM fee over a large amount, so you should withdraw a minimum of 20,000.- THB, or preferably the 30,000.- THB an ATM of the Krungsri bank allows

@Alistair *********

at an ATM, you actually receive the same exchange rate with either a Visa-Debit card or with a Visa-Credit Card. Both are based on the daily spot rate (i am not fluent with the correct term) You however always pay the Thai bank's ATM fee of 220.- THB. And you should be careful not to fall for the DCC scam

@Gregor *********

possible, but I have only seen same for all cards. At very least, verify with your card provider. It’s a foolish and unnecessary mistake otherwise

@Todd ********

check out SCHWAB Easy Visa card for U.S. citizens. Schwab reimburses the Thai ATM fee. However Schwab takes provisions when you BUY something with the card

@Gregor *********

yes - I know Schwab reimburses fees.

@Todd ********

they earn a share when you use the card for purchases or paying the hotel. Keep in mind, if you buy anything in the CENTRAL, not only Schwab will add a percentage provision, but also the shop in Central will add their own provision. And some hotels also go by this method . . that's why, as a tourist, I withdraw at am ATM and pay EVERYTHING with cash Thai Baht

@Tony ********

I moved areas recently Tony and you can avoid the charges if you withdraw money using the BKK bank app, using the cardless ATM option.

It's really easy to use and means you do not pay a fee.

I never use my bank card now.

@Stuart **********

- thank you for letting me know about this I haven't been told anything about it by Bangkok Bank. I am not currently digital my passbook is located elsewhere so until I am able to retrieve it at the branch I opened the account I can't set up for web and banking app. I have the app but can't do anything with it at the moment. Much appreciated I'll be looking into it 👍🏼🙏🏼

Forgot to say, you are welcome, good luck.

@Stuart **********

- thank you Stuart great information, I wonder why they don't mention it smacks of a deliberate act me thinks because they make less money. I also wonder how many other people in Thailand have no idea about this? 🤔

I have seen how young Thai's seem to do everything in the digital world so I just need to learn more about it, especially scanning QR codes etc. My only concerns are we more at risk in the digital world? I like the way you can lock up cards using apps that's pretty neat but I haven't used a digital card yet old school needs to come into the latest world 555.

Thanks again 👍🏼🙏🏼

@Tony ********

I think you hit the nail on the head, they make less money.

I was lucky, I saw someone else doing it and it made me think there must be a good reason.... and there is.

I am also not that keen on the QR code payment, but I fund myself using it sometimes.

The cordless ATM thing seems very secure, once you have used it you will see what I mean, it's very easy.

Take care.

@Tony ********

yes I asked about transferring my account too and they did not mention it to me either, but afterwards I thought it might solve the problem, so I called again and they confirmed it would (a bit infuriating they don't mention it).

Definitely get this set up, as I said it's really simple and I used it today, it's as quick and simple as using a card.

I also successfully extended my stay by 12 months based on retirement at a new location and the bank in Sriracha gave me the evidence required in less than 10 minutes.

@Frank *********

I'll stick to kbank 30 k it a lot to stuff in a wallet 😆 thanks for the update 😀

@Wylie ******

Yes they did imply that. I've never seen that anywhere

@Wylie ******

- which bank is this? The best rate is the mid market rate which some promise. I have a Chase card that apparently guarantees no foreign ATM fees but I haven't tried it yet because I am sure I did a test from memory and you get a rubbish rate. I might try a test on a small amount and see what rate I get I'm sure it's supposed to tell you but from what I have seen so far the ATM's don't give that kind of information. I think I would have to go through with a withdrawal and check it later but I'm sure it's about 2 points below Wise mid market rate?

@Tony ********

I use Schwab. I just double checked a recent transaction and you are correct that the wise rate is a touch better, but offset somewhat with their fees. If schwab didn't reimburse the atm fee then wise would actually be a better value, with the reimbursement schwab is slightly better value, although they're not as far off from each other as I had thought. With larger withdrawals/transfers at the atm limit wise may actually come out equal or ahead since the rate of their fee goes down and the 220 reimbursement gets smaller as a percentage of the withdrawal.

@Wylie ******

- swings and roundabouts I guess we all just take what we can. I have a Thai bank account so I transfer to that and get a good exchange rate and avoid the silly fees although they still charge 20 baht out of Province fees which is insane why isn't a bank acting nationwide crazy stuff but this is Thailand 555

@Peter ******

- exactly if you are using a foreign card you have no choice although I am keen to test my Chase card.

I have a Thai bank account so I can avoid these ridiculous fees 🙏🏼

@Tony ********

You can avoid the 220 ATM fee if you go in branch, find a friendly branch

@Peter ******

- I wasn't sure about that. I will give it a go but I have a Thai bank account so get around it that way

@Ken *******

- sorry I misread your post...I haven't tried that but it's a foreign card so if course you will pay the 220 baht fee

@Tony ********

it was free in the yellow bank last time I used them many years ago, not an atm

@Ken *******

- it does indeed but a screen appears and clearly warns you that it will cost you 220 baht and asks if you want to proceed...yeah it's 220 baht not 200 I think it's gone up.

@Tony ********

a screen appears, what, in between you and the cashier

@Ken *******

- we are talking about ATM's right 🙄

@Tony ********

if you go inthe bank and ask for a withdrawal, it use to be free