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Home » Reader question » Reader Question: How Can I Avoid Cash Withdrawal Fees in Thailand?
Dear readers,
Is there a way to avoid having to pay that 220 baht every time you withdraw money from an ATM as a tourist? Yes, then I have to take everything with me in cash, but I don't feel like walking around with a lot of money. I don't want to open a bank account in Thailand either, I don't live there.
Would you like good tips?
Groet
Other
Andrew,
I don't live there either, but I opened a bank account at Siam Comercial bank about 10 years ago. regularly deposit something there from Belgium (until recently it was free with Argenta, now paying). Have a bank card from SCB and can withdraw money anywhere. at the bank's own ATMs I pay “only” THB 40, which is still 1 euro. Usually stay 10 to 12 weeks, so if you withdraw money every week, it will soon make a few euros difference ….
At Argenta, you have to be in Belgium. Foreign transfers not possible with internet banking My son has an account with Parisbas (fortis) I have already asked all major banks several times for a simulation of 1000 to 8000 € to transfer to Thailand I have been looking for that for years now the wait in October my son has asked this, the result is nothing. I have now looked at transferwise myself and that appears to be up to 3000 @ the best, the good exchange rate makes up for a lot.
9 years ago, when I left the consulate in Antwerp, I was asked to enter a KBC office and asked the same thing. According to the explanation I received, I was still owed money.
I think it is assumed, make the transfer and you will see how much you receive
At bangkok bank where I have an account I don't pay anything for ATM only 15 bt if I pick up outside the province of CM
Argenta does allow foreign transfers via internet banking, but the amount is limited, I seem to remember no more than € 10.000.
I wanted to transfer money to Thailand via internet banking at Argenta this week: that is not possible (anymore)
In the region itself, for example, I pay nothing in Chonburi (my branch Pattaya Klang) and outside the zone, for example, now 15 baht in Chiangmai at Kasikorn. Haven't actually checked yet what I would pay at SCB as I only use this account for payments (electricity, internet, etc…). I'm actually surprised that you have to pay 40 THB at SCB mate I believe you of course, should check this out for myself.
Yes, just transfer money to the Thai account of a trusted expat. He gives you the received Baht through his ATM. He can show through his bank book how much he has received from you in Baht.
Dear Andrew,
It is indeed paying to use a debit card in a non-euro country that costs money. You say 220 Bath, but there is also the exchange rate difference and then you are already well over 10 euros or more per 100 euros that you spend to pin. Most people forget to add that in. But there is a lot of exchange rate difference that the bank writes off after debit card or the exchange rate you get at an exchange office. We have been taking cash with us for years and do not walk the streets with it, but put it in the safe in the hotel. Success with it….
The Thai ATM takes 220-Baht. The bank, eg ING, takes Euro 2,20 plus 2% costs withdrawn amount plus exchange rate difference and a limit of Euro 500 per pin. Eg Euro 800 - you have to do in 2 days at the ATM and then you will have to pay about Euro 20 to 25 costs. Licking lips at those grabbers.
I have briefly put at abn amro charged 2,65 and max 250,00 withdrawals is now with rabobank have a total package and no longer pay 2,65 and can withdraw 500,00
You can e.g. already starting with just using an 'Aeon' ATM. They ask 'badly' 150bht.
An account open with Argenta (Belgium) also helps for particularly advantageous cash withdrawals.
The information in your question is a bit succinct. You use the word tourist, so I assume a maximum stay of 30 days. Then it would be useful to answer your question correctly what your holiday budget is in euros. Finally, which Dutch bank you are affiliated with. ING you can pin the equivalent of a maximum of 500 euros, but only half at Amro, as far as I know.
In your case I would bring 700 euros in cash. Do not exchange the unfavorable rate at the airport, but at an exchange office in the city. If you are then an ING customer, you can withdraw 1 or 2 more times the maximum amount and then the cash withdrawal damage for a month's holiday will not be too bad.
Have a nice holiday……
you don't have to go to the city to change money, this is possible, especially at the airport and at the same rate as in the city. On the floor where the trains depart, there are several exchange offices, the same ones as those in the city. If you walk around there and compare the offices, you can even choose where to change.
At Suvarnabhumi Airport you can exchange cheaply. Follow the Rail link signs down and ask for Superrich exchange office or money Value.
I'm afraid it's impossible to get out of it. An additional question: if you withdraw money via ATM, how can you do so at the best rate. Do you have to click converted or not? I read it somewhere here once but forgot the tip.
Cash is by far the cheapest. Changing along the road saves about 2 baht per euro if you change at a reputable bank. Opening a bank account is smart if you're staying for more than a few weeks. It's a hassle.
ATM from AEON charges 150 baht for transaction costs and gives a better exchange rate
Have read somewhere that Aeon is also going to charge Baht 200- and has started or will be setting up their ATMs soon. Maybe Google knows something.
The AEON machines are cheaper – 150 thb. I don't think you can prevent it unless you know someone with both money in NL and money in Thailand, then you can transfer it to NL bank and pin that person for you in TH.
You must also pay your own bank at least 2 euros per transaction if you withdraw money in Thailand
Bringing cash remains the best and cheapest solution, also from a price point of view
Perhaps you have a safe in your hotel room?
not at rabobank if you have a total package no costs only exchange rate
Shooting abroad always costs money, you know that
The best tip to prevent this is not to go to Thailand.
On the other hand, what are you worried about?
Withdrawal fees are 200 baht to 20.000 baht.
How much does this save you on vacation.
I'm more annoyed with, for example, the ING where you pay 2.25 euros in addition to the exchange rate commission.
Yes, there is that way. Just stay at home.
You'll have to choose anyway. I would go for cash, that saves you a lot of costs because the bank in the Netherlands also charges costs plus you have an unfavorable exchange rate.
So take advantage of it.
Withdrawing money from ATM AEON bank costs 150 baht
I don't think there are many other solutions, I've heard that with Maestro in Belgium you don't have to pay any fees, I don't know about Thailand, but I doubt it, again I could be wrong.
I have two Thai bank accounts, I don't pay any fees, but withdraw money here without fees if you don't have an account here, I doubt it.
Besides, you have a safe in your room, don't you have to go out into the street with a lot of money?
I have an account with bangkok bank deposit it from the netherlands and withdraw it via atm if i do that in the place where i closed the account i pay per withdrawal o,o
If you open a bank account at the Bangkok Bank, you can withdraw money free of charge at a Bangkok Bank ATM.
This is only possible in the province where you open the bank drawing, outside of that you will pay for a withdrawal from an ATM.
No, I can withdraw money at an ATM in Bangkok (from Bangkok Bank) without having to pay extra. My account is in Hua Hin.
At the yellow ATMs (forgot the bank name), often at the 7/11, you can withdraw a maximum of 30.000.
Also saves on recording costs.
Just don't spend anything. There are people in this world who live without money for years.
http://www.greenevelien.com/blog/leven-zonder-geld
I am also here now and yesterday I used my ING card to withdraw money for the second time.
01-12-2017 10:57 -> 10.000 THB for € 281.25 at the green 'KASIKORN' ATM
18-11-2017 22:33 -> 10.000 THB for € 291.03 at the (forgot color) 'TMB' ATM
The surcharge was € 2,25 per transaction, but changes at ING as of 1/1/2018. Of course it will be more expensive. So I downloaded the REVOLUT app today. A friend of mine flies around the world weekly for business and has been making grateful use of this for years. The best rate (interbank) and no hidden fees. Still have to see if it is better than BUNQ, but that also has my attention. I want to build a house, so it will soon save a free swimming pool by doing some good research now! Oh yes, and last year I was able to open an account with the Bangkok Bank with a VISA card for a few euros per year on my tourist visa, but transferring money from ING to the Bangkok Bank is also terribly expensive, so we do that either way.
Every Dutch bank has its own additional costs. Here's a quick overview:
ING: € 2,25 per transaction + 1% exchange rate surcharge
RABOBANK: varies per package from € 1 to € 3,50 per transaction + 1,1% exchange rate surcharge
ABN AMRO: € 2,25 per transaction + 1,2% exchange rate surcharge
SNS (incl. ASN Bank, RegioBank): only € 2,25 withdrawal costs, no exchange mark-up
With SNS you are therefore the cheapest. That is why I deliberately chose the SNS bank at the time, because I knew that I would be staying in Thailand for a longer period of time.
You also pay, as Andre himself indicates to the Thai bank between 180 and 220 baht recording costs. The difference is € 1, so you can still benefit from that.
There is no way around this, it is not possible for a tourist to open a bank account.
What I would advise you is, depending on how long you stay and how many people you go with. Assuming 2,5 weeks with 2 people, take € 1000 in cash and exchange this at Suvarnabhumi Airport on the ground floor at Superrich. This one has the best rate 9 times out of 10. You can then take a portion with you when you go out and put the rest in the hotel safe, or, which is my preference, in a locked suitcase.
See here who gives the highest bank rate (usually krungsri) you get this with debit cards. (excluding the 2,25 eu) (abn / asn / knab)
https://daytodaydata.net/
Transfer to revolut account (you also have an iban number etc..) and from there transfer to a Thai account, you can already have the money on a Thai rack within 2 days (little transfer costs)
It is possible for a tourist to open a bank account:
'Oh yes, and on my tourist visa last year I was able to open an account at the Bangkok Bank with a VISA card for a few euros a year.'
What I do seems best to me.
At least if you dare to travel with cash. Just withdraw money from your bank account in Ned, whatever you think you need.
Please note; € 10.000 is the maximum! Then open an account in Thailand (I did that at the Bangkok Bank)
Got a pass right away. Exchange money at a better rate against Th Bth, eg at “Vasu”.
And then deposit that money into your bank account at a deposit machine. After that you can withdraw free amount at your Bangkok Bank ATM.
Succes
Peer, that "free" is only in the province where your bank office is located. Every other province, at the same bank, you pay ATM fees.
As I indicated a few comments I have installed REVOLUT on my phone.
There I looked at how much I would have lost if I had pulled it out of the machine here, with their debit card.
To recall:
01-12-2017 10:57 -> 10.000 THB for € 281.25 at the green 'KASIKORN' ATM
18-11-2017 22:33 -> 10.000 THB for € 291.03 at the (forgot color) 'TMB' ATM
It would have cost me €1 via Revolut on 12-2017-263.46 and €264.88 on 18-11-2017 (+ATM fee).
Okay: you still need a credit card. A premium subscription costs €7.99 per month, but do the math… 🙂
Perhaps Traveler checks are an option. I used to just take it with me in euros and still get a better rate in Thailand than with cash money and they are well insured. Had experience with that too. Don't know what the current costs are but maybe a good alternative.
I always look at multiple cost components:
a) bank charges here
b) exchange rate
c) bank charges there
d) transfer speed
e) effort I have to make.
ATM withdrawals ALWAYS cost money. Often hidden in your bank subscription, for example in NL.
I use e.g. NBWN or Ebury. I transfer an amount in foreign currency and get a better exchange rate than with traditional banks such as ABN AMRO, ING or Rabo. Above € 10.000 the international transfer costs are included, below € 5. I transfer in €uros to NBWM etc. costs in NL: low to nothing.
My recipient in TH will then be credited to the bank account in THB in about 3 days.
But .. withdrawing from a Thai ATM continues to cost money.
Unfortunately you do not write how long you want to stay in Thailand, so I assume a normal holiday of about 3 weeks.
If you don't have excessive wishes there, then it should still be possible for you to take a little cash with you.
If something unexpected happens, then a credit card is recommended.
Your wish for no cash money, no ATM costs, and no opening a bank account, in my opinion, go very far to save a few baht.
The question can almost be compared to someone who does not want heat in Thailand and asks for advice because he also prefers no air conditioning, fan or shade.555