ATM free of charge

Discussion in 'General Discussion' started by thuynga, Sep 8, 2011.

  1. thuynga

    thuynga Member

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    Hi,

    My husband and I didnt like it at all that each time we withdraw money from ANZ ATM ( because we dont have Lao bank pass), we had to pay 40000LAK for transaction of 2mil LAK. Thats why we were so happy that we've recently found out that if you withdraw with an ATM from Phongsavan Bank, then you dont have to pay anything!That saves you quite some!

    Please share if you know some other ATMs from other banks!
    Cheers,
    Nga
     
  2. cciknopfler

    cciknopfler New Member

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    ANZ ATM is one of the most expensives I believe... but be careful! Some ATMs don't show you on the screen that you're paying a fee, but afterwards you can see it in your bank statement (apart of course of the normal fees the bank charges you). I'll try your bank and see what's the story! Thank you!
     
  3. thuynga

    thuynga Member

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    Yes, we also double-checked with our Internet banking and there was no charge from the Phonsavan ATMs! And btw, it's not MY bank, just want to share that information with others.
     
  4. hereami

    hereami New Member

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    That's great to know! I didn't realize they accepted foreign ATM cards.


    In reply to cciknopfler, ANZ is the most expensive but it also allows you to withdraw more per transaction - up to 2,000,000 kip at a time instead of the usual 800,000 or 1,000,000 you get at other ATM's. So the fee ends up being about the same if you're withdrawing a larger amount of money.


    Either way, the biggest fee often ends up being the "convenience fee" or "conversion fee" your bank probably charges for the conversion of USD to kip - that one's often hidden in the transaction itself and easily missed, but it's usually around 3% of the total transaction (at least for US banks). That's in addition to what your bank may be charging for withdrawing from an ATM that's not their own.
     
  5. thuynga

    thuynga Member

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    You can find these ATM at LAO ITEC, inside Talat Sao shoping mall, or about 100m after Plaza hotel
     
  6. cciknopfler

    cciknopfler New Member

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    Thanks! I was looking around but wasn't sure where the Phongsavan banks were, will try them soon, that'll be good news! :p
     

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