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Thai banks to charge 1% fee for payments abroad from May 1st
From May 1st onwards, customers of Thai commercial banks will be charged a 1% Dynamic Currency Conversion (DCC) fee for cash withdrawals or payments made abroad.
Starting from May 1st, Thai commercial banks will impose a 1% Dynamic Currency Conversion (DCC) fee on cash withdrawals or payments made abroad by their customers.
The same fee will apply to the use of Visa or Master credit cards for transactions outside Thailand, including online purchases from foreign-registered stores.
This includes payments for services like Netflix, shopping on platforms like TikTok, Alibaba, or Amazon, and booking hotels through Agoda. The banks justify the DCC charge as standard practice for international transactions.
If a transaction is cancelled, the 1% DCC fee will be refunded to the primary cardholder’s credit card account. Kasikornbank, Bank of Ayudhya, TMB Bank, UOB (United Overseas Bank), KTC, Cards EX, and AEON Thana Sinsap have informed their customers that the fee will be implemented from May.
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