Credit card holders from Visa and Mastercard will soon encounter a new fee structure when conducting transactions or ATM withdrawals overseas in Thailand. Effective May 1st, individuals using their cards abroad will be subject to a 1% charge for currency conversion. This fee will apply to both purchases made at international stores and ATM withdrawals, where users will have the option to pay in the local currency or baht. Opting to pay in baht will incur an additional 1% fee on the transaction. Furthermore, when withdrawing baht from ATMs abroad, a Dynamic Currency Conversion (DCC) fee will also be imposed. However, in the event of a canceled transaction, the 1% DCC fee will be refunded to the primary cardholder’s account.
Several major banks and financial institutions including Kasikornbank, Bank of Ayudhya, TMB Bank, and UOB, along with KTC, Cards EX, and AEON Thana Sinsap have notified their customers about the implementation of this fee. It’s essential for travelers to be aware of these changes to avoid unexpected charges while using their credit cards abroad.
