rxpharm Posted February 4, 2015 Share Posted February 4, 2015 globetrotter - CIBC, but you need to order them in advance - also check if you have a premium credit card or bank account - some benefits include no commission traveler's cheques, which is a great perk. Quote Link to comment Share on other sites More sharing options...
globetrotter Posted February 4, 2015 Share Posted February 4, 2015 ya, I can definitely get them for free, it's, just being able to get them period and in time Quote Link to comment Share on other sites More sharing options...
rxpharm Posted August 21, 2015 Share Posted August 21, 2015 Update - the ATM fee has increased to 180 Baht - now all the Thai banks are charging that amount - and I would not be surprised if it increased in the future. Also a further update to the Traveler's cheque fees, they have also increased almost 500%. From 33 Baht per cheque to 153 Baht. This now rules them out as a good option to bring funds over to LOS. The best option now, if you can keep it secure is to bring hard cash. In addition there are a few exchanges that give better rates for hard cash than the banks. Vasu Exchange on Sukhumvit Soi 7 is one in Bangkok. 1 Quote Link to comment Share on other sites More sharing options...
globetrotter Posted August 21, 2015 Share Posted August 21, 2015 Update - the ATM fee has increased to 180 Baht - now all the Thai banks are charging that amount - and I would not be surprised if it increased in the future. Also a further update to the Traveler's cheque fees, they have also increased almost 500%. From 33 Baht per cheque to 153 Baht. This now rules them out as a good option to bring funds over to LOS. The best option now, if you can keep it secure is to bring hard cash. In addition there are a few exchanges that give better rates for hard cash than the banks. Vasu Exchange on Sukhumvit Soi 7 is one in Bangkok. The TC commission went up a few months ago , ironically a day before I arrived in LOS, I still think if you can get your hands on $500 denomination TCs, they could be a good option Quote Link to comment Share on other sites More sharing options...
Pdoggg Posted August 21, 2015 Share Posted August 21, 2015 You get about 2/10 of a baht better exchange rate by using TC instead of cash so on a 500 CAD TC you get about a 100 baht more. So if the only reason for getting the TC is to save money, it doesn't work for USD or CAD since the fees are more than 100 baht. Quote Link to comment Share on other sites More sharing options...
xyzzy Posted August 21, 2015 Author Share Posted August 21, 2015 Typically if you do an ATM pull with a foreign VISA debt card you get slightly better than the TT rate. Which likely will be at least another 1/10+ over TC. So if you do a US$500 ATM pull, and your card has no transaction/foreign fees, paying the 180 baht ATM fee is probably better than paying the TC fee. If your card will let you pull more than US$500 or up to 30k baht (~US$850 currently) from an ATM better still. Yes I know many countries outside the US don't seem to have cards with the no foreign transaction fee option. But if you are from the US the Schwab debt card is still the best deal. You usually will get a slightly better rate than the TT rate and they pay the ATM fees. You can get money in Thailand at the best rate I know about and have zero fees. 1 Quote Link to comment Share on other sites More sharing options...
Pdoggg Posted December 8, 2015 Share Posted December 8, 2015 From today's Nation: BANKS' fees are poised for a change to better reflect actual costs and pave the way for a cashless society. "The structure is distorted. The fees for paper-based transactions are very cheap, compared to the associated cost. Banks are now cross-subsidising them with fees collected from electronic transactions," Veerathai Santiprabhob, governor of the Bank of Thailand, said in a recent interview. While the cheque fee is only Bt15, the actual cost is far more. Customers can withdraw money from an ATM without any fee, but banks carry a huge cost for cash management at ATMs, he said. Anuchit Anuchitanukul, adviser to the Finance Ministry's National e-Payment project, has said that Bt7 trillion is withdrawn from ATMs each year. Banks spend over Bt10 billion on armoured vans and other expenses to fill up ATMs. The project aims to reduce cash usage. This will require the creation of more points of sale across the country, as now there are fewer than 100,000, versus the minimum of 2 million as recommended by the Bank of Thailand's study. To maintain their retail customer base, banks are expected to compete in reaching out to merchants to establish their own points of sale. Small merchants will also require mobile points of sale or mPos to support their small customers. Under the project, companies registered with the Commerce Ministry cannot deny e-payments. Banks are now offering electronic payment services through different systems. The cross-system operations result in higher charges for consumers. While the project will help reduce cash transactions, authorities are considering the next step - a central settlement house to oversee cross-bank transactions through ATM cards, the Internet and debit cards. "The central system will be a superhighway. It will be the single gateway for all banks and state agencies," he said. Further facilitating the move to a cashless society will be the Any ID e-payment module - a collaboration of the Finance Ministry and the central bank. It will allow anyone to transfer money by using his ID card, mobile number or email address. Veerathai said the central e-payment settlement agency and the Any ID module should be completed by the third or fourth quarter of next year. With a single e-payment system, banks will experience a drop in operating fees and this would lead to a drop in fees that end-users have to pay. Banks have enjoyed an increase in fee income from Bt127 billion in 2012 to Bt155.8 billion last year. Fee income minus operating costs has also risen from Bt101.51 billion to Bt124.77 billion, according to the central bank. Contributors to fee income Credit cards now contribute 18 per cent of the fee income, followed by ATMs and other e-banking services at 17 per cent. In the first nine months of this year, gross fee income reached Bt126 billion and net fee income Bt102 billion, indicating that banks spent as much as Bt24 billion on operations. The infrastructure gateway is expected to reduce associated costs. Under the current system, senders are charged for transferring money. Under the new scheme, both senders and recipients will shoulder a fee. This is expected to lead to competition among banks to retain customers. The scheme looks possible to implement successfully, thanks to the proliferation of smartphones, which are estimated to account for over half of phones in use in the country. Cheap prices have boosted their popularity as well as faster mobile data services. Soon, smartphone use would be 100 per cent. "Years ago when the video player was launched, I would laugh if someone said all houses would have one. Likewise, when it comes to smartphones, it is not beyond the realm of possibility for all Thais to own a smartphone one day," Anuchit said. Consumers are expected to support the changes, since they are the ultimate beneficiaries. http://www.nationmultimedia.com/business/Banking-fees-to-reflect-cost-of-service-in-move-to-30274466.html Quote Link to comment Share on other sites More sharing options...
globetrotter Posted February 23, 2016 Share Posted February 23, 2016 Anyone know which bank ATMs allow you to withdraw 30,000 tbt at a time and is that the maximum amount for any bank machine, and is 153 tbt TC commission fee per cheque or per transaction? Quote Link to comment Share on other sites More sharing options...
xyzzy Posted February 24, 2016 Author Share Posted February 24, 2016 Anyone know which bank ATMs allow you to withdraw 30,000 tbt at a time and is that the maximum amount for any bank machine, and is 153 tbt TC commission fee per cheque or per transaction? Krungsri, TMB and CIMB are suppose to all do 30k last I heard. I know Krungsri (yellow) does 30k. I believe it's for each travelers check but someone else can confirm or deny that. Quote Link to comment Share on other sites More sharing options...
rxpharm Posted February 24, 2016 Share Posted February 24, 2016 Anyone know which bank ATMs allow you to withdraw 30,000 tbt at a time and is that the maximum amount for any bank machine, and is 153 tbt TC commission fee per cheque or per transaction? Citibank ATMs allow 30k withdrawals - however you are also limited by the maximum withdrawal limit of your home bank. For example if the maximum withdrawal is 1000 $ CAD per day, then you can only withdraw around 25 or 26,000 Baht (depending on the exchange rate) a day from the Thai ATMs. The 153 Baht stamp/duty fee is per cheque. Siam Commercial Bank is 20k per withdrawal, Bangkok Bank is 25K per withdrawal. Quote Link to comment Share on other sites More sharing options...
Pdoggg Posted February 25, 2016 Share Posted February 25, 2016 Krungsri, TMB and CIMB are suppose to all do 30k last I heard. I know Krungsri (yellow) does 30k. I know the machine at my local Krungsri branch does 30 bills. But as RXpoints out if using a freign credit/debit card you may be limited by your home bank which in the States is often 500 USD. It's also possible that the amount you can take out is limited by whether it's an old machine or new machine. Just speculating here. Also some banks have a daily limit. I believe Kasikorn is 50K. Some years back when I took out 50K from Kasikorn, I had to break it up into 3 transactions. Not a big deal if you are using a no fee card but defo a big deal if you are charged fees. Quote Link to comment Share on other sites More sharing options...
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