General Reports

[QUOTE=Kerrstar;1635758]I usually just use the ATM once I come through immigration, it's attached to the exchange rate place as it's run by the same bank.[/QUOTE]Sure, but the OP wanted to know the best way. The ATM is going to charge him 180 baht or US $6. Therefore the best way is to exchange at the booth, getting just enough to tide him over at the airport. Then HE can exchange more when HE gets to where HE is staying and can find a more favorable rate.

[QUOTE=RumBuddy;1635625]Good information. What is considered a "minimum amount" ?[/QUOTE]Like Mr. E, I also cash 100 USD giving me just over 3000 THB. I usually arrive at BKK around midnight. My driver gets 1,000 of that for the ride, plus a 100 tip (IF HE didn't drive like a maniac), and a tip for the bellhop at the hotel. And since most of the money changers don't open until 10 or 11 AM, I like to have a few THB in my pocket in case I can't sleep and go for a walk in the morning. I've had plenty of opportunities to spend some money in the early morning on my first day in the LOS before the money changers open. .

[QUOTE=MrEnternational;1635820]Sure, but the OP wanted to know the best way. The ATM is going to charge him 180 baht or US $6. Therefore the best way is to exchange at the booth, getting just enough to tide him over at the airport. Then HE can exchange more when HE gets to where HE is staying and can find a more favorable rate.[/QUOTE]And don't forget that most banks charge an additional fee for using "out of network" ATMs. My bank charges 5 USD in addition to the 180 THB, for a total of almost $11. Quite an expense especially when you're only taking out $50. Much better to take out larger amounts less frequently in order to keep those charges to a minimum.

And I know that there are certain brokerage accounts that will reimburse those fees, but I like my current bankers enough to not switch to save a few dollars.

[QUOTE=David2;1635958]And don't forget that most banks charge an additional fee for using "out of network" ATMs. My bank charges 5 USD in addition to the 180 THB, for a total of almost $11. Quite an expense especially when you're only taking out $50. Much better to take out larger amounts less frequently in order to keep those charges to a minimum.
And I know that there are certain brokerage accounts that will reimburse those fees, but I like my current bankers enough to not switch to save a few dollars.[/QUOTE]I find the best overall value is at the exchange places. I have been here for many months and I noticed that in addition to the ATM fee of 150-180 baht, the exchange rate is lower at the machines. So you take a double hit. You lose 5 or 6 US Dollars for the ATM fee and about 10 dollars with the lower ex rate (that's based on a 30,000 baht withdrawal).

FYI. The TMB ATM fee is only 150 baht AND it allows you to withdraw up to 30,000 baht per transaction. Many of the other atms charge 180 baht and only allow up to 20,000 baht. If you need more than 20 k baht, I would use TMB. Otherwise, you will end up making another withdrawal. This adds up for long stays.

[QUOTE=PipeLayer99;1635961]If you need more than 20 k baht, I would use TMB. Otherwise, you will end up making another withdrawal. This adds up for long stays.[/QUOTE]I use the ATMs at the Citibank at the intersection of Asoke and Sukhumvit and typically take out 50,000 baht per transaction. I have no idea what is the maximum amount allowed.

[QUOTE=PaulKausch;1635973]I use the ATMs at the Citibank at the intersection of Asoke and Sukhumvit and typically take out 50,000 baht per transaction. I have no idea what is the maximum amount allowed.[/QUOTE]Thats good info. In Pattaya the most I can get from the machines is 30,000. One day I checked 6-7 different ATMs to see how much I can get. Only TMB let me take 30 k (won't allow more). If I can get 50 k at one time, that will save me some dough (because I need 2 withdrawls per month). I will check that out. Thanks.

Any idea of what kind of rate did you got from the Citi ATM as compared to the exchange places during that time? (if you checked on that).

At the ATM last month I got a rate of 32.14 baht. The ex-rate at that time was 32.52 at my preferred exchange booth (if I had cash to exchange). The ATM was about 40 points lower.

Having cash to change is much better. However, one can only bring so much. Then when the cash runs out you have to use ATMs and those fees add up.

[QUOTE=PipeLayer99;1635961]I find the best overall value is at the exchange places. I have been here for many months and I noticed that in addition to the ATM fee of 150-180 baht, the exchange rate is lower at the machines. So you take a double hit. You lose 5 or 6 US Dollars for the ATM fee and about 10 dollars with the lower ex rate (that's based on a 30,000 baht withdrawal).

FYI. The TMB ATM fee is only 150 baht AND it allows you to withdraw up to 30,000 baht per transaction. Many of the other atms charge 180 baht and only allow up to 20,000 baht. If you need more than 20 k baht, I would use TMB. Otherwise, you will end up making another withdrawal. This adds up for long stays.[/QUOTE]A number of years back when they first started to charge the 150 Baht for ATM withdraws I basically went around and try all the Thai ATM'S each one was basically pretty close! So close I concluded that the rate was not going to cause me to leave and run around town using up time and gas to find something ONLY slight better. If that is your thing knock yourself out? But I concluded that Bangkok Bank was the most consistent in giving me the best rates. In emergencies it really didn't matter who I used. Then I found out about Aeon was the only one not charging so I use them for years and plan my withdraw visits.

End of a good thing. This year Aeon started charging 150 baht, and right after every other Thai bank raised their fees to 180 which got me to say why? So whenever I do use a ATM, my business went to Bangkok Bank until recently. I used a Bangkok Bank ATM on the Darkside as usual when I get my withdraw I pretty much pocket it since I didn't want to count it in the open never been shorted but this time I was shorted 2 thousand baht. When the branch open I went inside and file a report and contacted by Credit Union a month later Bangkok Bank refused my request of shortage. When I went in and talk to the Branch manager she said the video showed I walked away not counting? I said that is what my reported indicated and that I came back when the Branch opened? I said you do not look at the video you are suppose to get the daily audit on the machine and if you did you would had a overage? Basically they gave me a dumb look so I took all my savings book and closed all the accounts and moved everything to Aeon Bank.

I also was under the impression that the limit your card has is based on your bank or the instruction you provide for them. On some of my cards I allow the Bank policy to limit withdraws at $500 USD, I have another I used for emergency for I have them authorized $1000.00 My old ATM card for Bangkok Bank allows a Maximum of 25 notes = 25,000 Baht. I also found out the majority of machines will respond like " insuffient funds " giving you the impression you do not have enough in your account when in fact it is because the machine has run low on cash. I have seen Siam ATM when this happens limit withdraws to 2,000 baht. I cancelled the transaction take my card to another machine and no problem.

CITI did not charge me a fee this year. I used a non CITI German ATM card.

[QUOTE=LittleBigMan;1636111]A number of years back when they first started to charge the 150 Baht for ATM withdraws I basically went around and try all the Thai ATM'S each one was basically pretty close! So close I concluded that the rate was not going to cause me to leave and run around town using up time and gas to find something ONLY slight better. If that is your thing knock yourself out? But I concluded that Bangkok Bank was the most consistent in giving me the best rates. In emergencies it really didn't matter who I used.[/QUOTE]I would imagine that the ATM exchange rates would indeed be pretty close. I never took it that far. I basically wanted to find another ATM branch that would allow me to take a total of 30 K, which is what I wanted at the time. So I stopped and checked about 6 ATMs from various banks along the way (there must be about a dozen of them between my place and the TMB ATM). Each of the ATMs I tried would only allow a max of 20 k (a withdrawal limit set by those machines, not my bank card's limit). That meant I would have to do 2 separate withdrawals to get 30 k. For that reason alone, I have been using TMB. No need to pay 2 fees.

Now, I am interested in trying out a Citi ATM. If I can get 50 k in one stop that would be great. And if I the machine doesn't charge a fee, even better.

Also, I noticed my ATM receipt had a statement on it saying save up to 400 bath per month in ATM fees. For more info call this # or visit a local branch. Maybe next week I will stop by the Central Festival mall to see if I can open an account at one of the banks here. On the 5th floor of the mall they have all the branches located at one end. This may be a good option for frequent visitors and guys who stay for long periods of time (like me). :)

[QUOTE=PaulKausch;1635973]I use the ATMs at the Citibank at the intersection of Asoke and Sukhumvit and typically take out 50,000 baht per transaction. I have no idea what is the maximum amount allowed.[/QUOTE]The maximum is set by your bank and not by the ATM. However, some ATMs may be setup to limit the amount, but that is rare.

[QUOTE=LittleBigMan;1636111]This year Aeon started charging 150 baht, and right after every other Thai bank raised their fees to 180 which got me to say why?

I also was under the impression that the limit your card has is based on your bank or the instruction you provide for them.[/QUOTE]

[QUOTE=PipeLayer99;1636092]Any idea of what kind of rate did you got from the Citi ATM as compared to the exchange places during that time? (if you checked on that).

At the ATM last month I got a rate of 32.14 baht. The ex-rate at that time was 32.52 at my preferred exchange booth (if I had cash to exchange). The ATM was about 40 points lower.

Having cash to change is much better. However, one can only bring so much. Then when the cash runs out you have to use ATMs and those fees add up.[/QUOTE]LBM, AEON also used to let me withdraw 40 K baht with no 150 baht fee. On my last trip, maybe the last 2 trips, they charged the 150 and the limit was 20 or 30 K, I forget which. So I started to use Citibank exclusively for ATM withdrawals.

PL, the ATM versus money exchange booth rates you report are consistent with my experiences. I get most of my cash from ATMs, but I do bring US $500 to a 1000 with me. I like to use SuperRich ([URL]http://superrich1965.com/[/URL]). The main branch seems to have the best rates. It is on Rajdamri Rd. Kitty corny from the northeast corner of Central World. There are branches, with slightly poorer rates at the Chidlom and Asoke BTS stations.

[QUOTE=Duniawala;1636171]The maximum is set by your bank and not by the ATM. However, some ATMs may be setup to limit the amount, but that is rare.[/QUOTE]Good point. I've set a high limit so I could withdraw more than 50 K. I've just never tried to. In the US some banks set the default max limit at US $500, which would limit your maximum withdrawal to about 16 K. Unless you know your limit it's good to check it with your bank before you travel. I also tell my bank and credit card companies when and where I will be traveling so they expect unusual card activity.

[QUOTE=Duniawala;1636171]The maximum is set by your bank and not by the ATM. However, some ATMs may be setup to limit the amount, but that is rare.[/QUOTE]In Myanmar the ATM's set the limit, which is 300,000 Kyat (about US $300). This probably has more to do with the limited amount of space in the machines as they dispense 5,000 Kyat notes. Just in case anyone was travelling here.

When I take money out in Bangkok I pay S $ 8 (about US $ 6) to HSBC. I have no choice though, since I have no access to US $ as I'm paid offshore.

[QUOTE=Duniawala;1636171]The maximum is set by your bank and not by the ATM. However, some ATMs may be setup to limit the amount, but that is rare.[/QUOTE]Yes, the maximum is set by your bank but you can change that (depending on your balance and income of course). At least Dutch banks have this option.

However the foreign bank may have set a maximum as well that is lower than your personal maximum.

[QUOTE=PaulKausch;1636181]AEON also used to let me withdraw 40 K baht with no 150 baht fee. On my last trip, maybe the last 2 trips, they charged the 150 and the limit was 20 or 30 K, I forget which. So I started to use Citibank exclusively for ATM withdrawals.[/QUOTE]Citibank is charging the 150 baht ATM fee as well, but they may not be explicit about it. Started well over a year ago, was free before that. At the moment, I don't think any ATM networks are without that fee.