Fee Free ATM. Capital One US Bank

[js007 795]

Since I’ll be in Thailand by this time next week, I’m trying to figure out the smart way to handle banking issues.  Apparently, many US banks are now very much unfriendly towards expats.  US accounts are sometimes closed for “excessive overseas wire transfers” and other such nonsense.  And that was my plan.  Just wire some money once in a while, including enough to meet the 800,000 baht retirement criteria.  But I’d rather not be in Thailand and be cut off from my money because some bank decided to close my account. Anyway, one day for the heck of it I opened A Capital One 360 checking account, which supposedly has no foreign transaction fees. 

Maybe I could use that account for my day to day expenses without being robbed by way of excessive fees?  Does anyone here have any experience?  

How about experience with HSBC and their expat accounts?

 

[DP Gumbypgh 97]

I have Charles Schwab brokerage account and ATM card. It has no Foreign transactions fees and also refunds all ATM fees which at 220 baht per transaction can add up. It is also Thai friendly and let me use a Thailand address to open it. 

Edited March 15, 2019 by DP Gumbypgh

[js007 795]

1 hour ago, DP Gumbypgh said:

I have Charles Schwab brokerage account and ATM card. It has no Foreign transactions fees and also refunds all ATM fees which at 220 baht per transaction can add up. It is also Thai friendly and let me use a Thailand address to open it. 

Sounds like I should take a look at Schwab.  I'll report back in a week or so on the Capital One 360 ATM fees.  I guess if I use it in Thailand I might be stuck with the Thai 200 baht ATM fee, per withdrawal.  

Another question for anyone who knows:  I tried to notify a few of my credit card companies about my travel plans, and some of them say this is no longer necessary because of the new technology in the cards.  Sounds good, but I wonder.  

[bastax33 28]

I have a Capital One checking account and used it in Thailand.  I stopped using Capital One and switched to a Schwab checking account. 

Capital One did not automatically refund my ATM fees.  I had to call them and per their customer service rep they said that the ATM fee did not show as a separate line item.  After much back and forth they refunded my account about $5 USD per transaction.  This was a few years ago so I don't know if things have changed.

I've had no issue with my Schwab checking account.  They refund all ATM fees once a month and it was automatic.

 

[BigusDicus 9,878]

8 hours ago, js007 said:

Sounds like I should take a look at Schwab.  I'll report back in a week or so on the Capital One 360 ATM fees.  I guess if I use it in Thailand I might be stuck with the Thai 200 baht ATM fee, per withdrawal.  

Another question for anyone who knows:  I tried to notify a few of my credit card companies about my travel plans, and some of them say this is no longer necessary because of the new technology in the cards.  Sounds good, but I wonder.  

My AX card does not need to be notified.  When I tried to do it online says not necessary they track things.  No real explanation.  Other cards are fairly easy to notify online.

Charles Schwab is the best I have found.  I have used all over Asia and Europe.  I am not aware of any fees although I do not track things as closely as I ahould.

DP's point about no foreign transaction fees is very important.  The can be more than the ATM fees.

BTW, just put $10k in telling them you will be investing soon.  Best not to mention you are just looking for free ATM use.  They send you the card automatically.

Edited March 15, 2019 by BigusDicus

[js007 795]

As for them “tracking” things.  One article I read said that if you have your phone with you and you use that company’s app and allow the phone to follow your location, the bank will be able to see that your card and your phone are in the same location.

Another app I found is called Chime.  A banking app with no foreign transaction fees.

 

[BigusDicus 9,878]

Chime does charge for some ATM usage:

Foreign Transaction Fee

$0

ATM Fee (in-network)

$0

 

ATM Fees (out-of-network) and Over The Counter Fees **

$2.50

 

[BigusDicus 9,878]

I believe Schawb not only does not charge ATM fees but the also pay the fees charged by the bank you use

[js007 795]

It wouldn’t be horrible if I had to pay $2.50 to withdraw 20,000 baht. What’s annoying are the fees charged by the big banks.

Edited March 16, 2019 by js007
spelling

[nkped 1,208]

No foreign transaction fees on BoA credit cards so not that rare.  Same with USAA if that is available to you.  Many big and some not so big commercial establishments, e.g., Bangkok Hospital-Pattaya and Big C  take debit/credit cards without nicking you for an additional fee for using the card.

[Rawhide2 1,343]

23 hours ago, DP Gumbypgh said:

I have Charles Schwab brokerage account and ATM card. It has no Foreign transactions fees and also refunds all ATM fees which at 220 baht per transaction can add up. It is also Thai friendly and let me use a Thailand address to open it. 

I dont doubt what you're saying has have come across it before but someone using a Thai ATM daily will rack up 6,600 baht of charges or $208 of refunds on a 30 day month....??

That simply cannot be right obviously. There must be a limit surely each month or year ??

[js007 795]

2 hours ago, nkped said:

No foreign transaction fees on BoA credit cards so not that rare.  Same with USAA if that is available to you.  Many big and some not so big commercial establishments, e.g., Bangkok Hospital-Pattaya and Big C  take debit/credit cards without nicking you for an additional fee for using the card.

Usually, I'm not brave enough to try to use credit cards in Thailand.  Too much of a chance of fraud and the ensuing hassle.  Once in the US I used one of my credit cards to buy something over the internet from Canada.  Within 20 minutes my credit card company was contacting me, wanting to know if I was charging things down in Miami Beach.  Expensive purses, sunglasses, etc.  They had to cancel the card, reverse the charges, and send me a new card with a new number.   

Anyway, my usual mode of operation is to take cash out of the ATM  every so often and just use cash.

 

[BigusDicus 9,878]

4 hours ago, nkped said:

No foreign transaction fees on BoA credit cards so not that rare.  Same with USAA if that is available to you.  Many big and some not so big commercial establishments, e.g., Bangkok Hospital-Pattaya and Big C  take debit/credit cards without nicking you for an additional fee for using the card.

I have a BoA credit card "Travel Rewards".  No foreign Transactions fees.

BUT, my BoA ATM card does charge foreign transaction fees.  My memory is they do not charge for using an out of network ATM.  

2 hours ago, Rawhide2 said:

I dont doubt what you're saying has have come across it before but someone using a Thai ATM daily will rack up 6,600 baht of charges or $208 of refunds on a 30 day month....??

That simply cannot be right obviously. There must be a limit surely each month or year ??

I do not believe they currently are limiting usage.  I have heard they are watching for people who just want to use an ATM card and not their other services.  That is why I advised  007 not to mention the ATM when opening his account.

[nkped 1,208]

I don't go very far down market using a credit card in Thailand.  I wouldn't set out to use one in one of W.S.'s fine establishments, but the last time I had a cc number go walkabout was after I had used the card at the Hilton Hotel in Portland, Oregon.

[jacko 8,814]

14 hours ago, js007 said:

Usually, I'm not brave enough to try to use credit cards in Thailand.  Too much of a chance of fraud and the ensuing hassle.  Once in the US I used one of my credit cards to buy something

Sounds to me like using them in Thailand would be safer than using them in the USA!

[js007 795]

1 hour ago, jacko said:

Sounds to me like using them in Thailand would be safer than using them in the USA!

Even in the USA I don’t really use them much except for some online shopping at places like Amazon. Otherwise, I just pull cash from the ATM when I need it.

[jacko 8,814]

2 minutes ago, js007 said:

Even in the USA I don’t really use them much except for some online shopping at places like Amazon. Otherwise, I just pull cash from the ATM when I need it.

My concern in Thailand is that getting refunded for fraudulent charges would be a struggle, they aren't very agreeable to that!

It also seems extremely easy to use  a CC fraudulently here in Thailand. I just paid for cinema tickets and it was simply a matter of putting the card in and out of a slot, and larger purchases may simply require a signature that isn't compared to anything. A UK card in the name of Angus McTavish could well be used by a Thai katoey without the slightest concern.... ie my Mrs could likely take mine on a shopping spree, and before Atlas suggests it, no my Mrs isn't a Katoey!

That said, so far so good. 

[DP Gumbypgh 97]

On 3/16/2019 at 3:33 PM, Rawhide2 said:

I dont doubt what you're saying has have come across it before but someone using a Thai ATM daily will rack up 6,600 baht of charges or $208 of refunds on a 30 day month....??

That simply cannot be right obviously. There must be a limit surely each month or year ??

I use mine about 8 times a months (max withdrawal is $500) on average and never had a problem with getting back all atm fees immediately. If someone used it 30 times a month i am sure it might raise some red flags not only from Schwab but from the US government re money laundering. They do not state how many times you are allowed to use the ATM per month any where in any literature that I have read.  

[DP Gumbypgh 97]

7 hours ago, jacko said:

My concern in Thailand is that getting refunded for fraudulent charges would be a struggle, they aren't very agreeable to that!

It also seems extremely easy to use  a CC fraudulently here in Thailand. I just paid for cinema tickets and it was simply a matter of putting the card in and out of a slot, and larger purchases may simply require a signature that isn't compared to anything. A UK card in the name of Angus McTavish could well be used by a Thai katoey without the slightest concern.... ie my Mrs could likely take mine on a shopping spree, and before Atlas suggests it, no my Mrs isn't a Katoey!

That said, so far so good. 

I always remove the 3 digit no on the signature side that is used for online purchases with a razor blade or sharp knife. That prevents them from making online purchases if they copy your card no. That seems to be a major problem here in Thailand. Keep a note of it somewhere safe and you can still use it for buying online.