1% fee to be charged on credit-card transactions abroad in baht from May 1
Visa and Mastercard credit card holders will have to pay a fee of 1 per cent for transactions and ATM withdrawals made overseas in baht.
The fee is being levied for currency conversion.
When travelling abroad and using credit cards for purchases at international stores, individuals will be presented with the option of paying in the local currency of the country or baht. If the user chooses to pay in baht, an additional 1% fee will be charged.
When withdrawing baht through ATMs abroad, a Dynamic Currency Conversion (DCC) fee will be charged. This fee amounts to 1% of the total expenditure or cash withdrawal.
If a transaction is cancelled, the 1% DCC fee will be refunded to the credit card account of the primary cardholder.
Kasikornbank, Bank of Ayudhya, TMB Bank, and UOB (United Overseas Bank), as well as KTC, Cards EX, and AEON Thana Sinsap have notified their customers that the fee will take effect from May 1.
