Answereda year ago
How can I manage my finances in Thailand as an expat using the TrueMoney app?
Hey everyone,
With all the recent headlines about bank accounts for foreigners being shut down, I thought it might be helpful to share how I’ve set things up personally here in Thailand.
I’m currently living in Thailand on a DTV visa and have a Thai phone number (super easy to sort—just head to any big mall).
I’ve started using the TrueMoney app and honestly, the setup couldn’t have been easier. As an accountant, I’m big on tracking personal expenses, and TrueMoney’s built-in statement feature is perfect for this. It lets you clearly see money in and out—really handy for monthly reviews.
The app itself is incredibly fast and user-friendly. I’ve yet to find a place that doesn’t accept it—7-Eleven, malls, petrol stations, markets—anywhere with a QR code scanner seems to work flawlessly.
How I top up my account:
I use the TrueMoney kiosks, which are dotted around all the major cities. You can deposit up to 20,000 THB per transaction.
As a UK national with a UK bank account, here’s my process:
1. Find a major bank ATM.
2. Withdraw 20,000 THB using my Wise card (decent exchange rate + 220 THB ATM fee, which is about 1.1% of my withdrawal—not too bad).
3. Head to a TrueMoney kiosk and deposit the cash.
4. Use TrueMoney as my ‘day-to-day bank account.’
It’s technically not a bank account, but it gives me everything I need—no need to carry cash, easy digital payments, and everything’s trackable for budgeting purposes. The convenience and speed of QR payments make everyday spending a breeze.
Hope this helps a few of you out!
*I'm posting anonymously as i'm quite a private person and don't like the idea of people looking at my profile haha! But happy to help out any questions as and when needed.
With all the recent headlines about bank accounts for foreigners being shut down, I thought it might be helpful to share how I’ve set things up personally here in Thailand.
I’m currently living in Thailand on a DTV visa and have a Thai phone number (super easy to sort—just head to any big mall).
I’ve started using the TrueMoney app and honestly, the setup couldn’t have been easier. As an accountant, I’m big on tracking personal expenses, and TrueMoney’s built-in statement feature is perfect for this. It lets you clearly see money in and out—really handy for monthly reviews.
The app itself is incredibly fast and user-friendly. I’ve yet to find a place that doesn’t accept it—7-Eleven, malls, petrol stations, markets—anywhere with a QR code scanner seems to work flawlessly.
How I top up my account:
I use the TrueMoney kiosks, which are dotted around all the major cities. You can deposit up to 20,000 THB per transaction.
As a UK national with a UK bank account, here’s my process:
1. Find a major bank ATM.
2. Withdraw 20,000 THB using my Wise card (decent exchange rate + 220 THB ATM fee, which is about 1.1% of my withdrawal—not too bad).
3. Head to a TrueMoney kiosk and deposit the cash.
4. Use TrueMoney as my ‘day-to-day bank account.’
It’s technically not a bank account, but it gives me everything I need—no need to carry cash, easy digital payments, and everything’s trackable for budgeting purposes. The convenience and speed of QR payments make everyday spending a breeze.
Hope this helps a few of you out!
*I'm posting anonymously as i'm quite a private person and don't like the idea of people looking at my profile haha! But happy to help out any questions as and when needed.
Answer summary
This post discusses how a UK expat uses the TrueMoney app in Thailand for managing finances, particularly for daily transactions, budgeting, and expenses tracking. The user shares their experience with the app's setup, features, and transaction processes, including top-up methods and alternatives for handling rent and utilities. The conversation also explores comments from others regarding the app’s functionality, user reviews, and various methods of transferring money to and from the TrueMoney wallet.
73 repliesnewest first
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Sasha *********
Does TrueMoney allow you to transfer to other local bank accounts? We just arrived today CM and I am trying to figure out how we will be paying for our rent.
Jennifer ******
Just use TagThai app to pay. No need bank account. Register at Kbank currency exchange booths..
Henry **********
Many features don’t work if you are not thai or don’t have Thai bank account. Fine for purchase from 7-11 or grab… not much else
Anonymous ******************
TM gonna be dinging fees after 20 txns or something
Cliff *********
When I’m at home in Los Angeles, I use the BB app to send money to my friends, pay bills and make online purchases from small sellers.
I load up the account with deposits through Western Union.
It’s not the cheapest way to do things, but it’s convenient for me.
How many of these things can be done from abroad with your True Money system?
It would be really helpful to have an alternative to BB.
I load up the account with deposits through Western Union.
It’s not the cheapest way to do things, but it’s convenient for me.
How many of these things can be done from abroad with your True Money system?
It would be really helpful to have an alternative to BB.
Stefan ********
This is a good solution for a while, so it's good to recommend it. I used to do the same. But at some point TrueMoney will start to ask you more and more papers, like the house book registration and other stuff. If you can't provide that, they'll close your account.
Happened to me in the past as I didn't have a yellow book. Just FYI
Happened to me in the past as I didn't have a yellow book. Just FYI
Oleksandra **********
Actually, in True Money app you can open a virtual MasterCard, just in a few clicks. Then, you can transfer money directly from your bank to your True Mastercard (which is the same as your True wallet). The top up commission from True is minuscule (20 bath or so). It all depends on the fees of your international bank. As far as I remember, you can keep 50k thb in your True wallet/on your card.
In my case, it was cheaper and easier than withdrawing money from ATM.
PS. Yes, True app doesn't show the option of topping up from an international card inside the app itself. Go to your banking app, find 'card to card transfers' and try to transfer directly to your True Mastercard. It is deposited either momentarily or up to 2 hours.
In my case, it was cheaper and easier than withdrawing money from ATM.
PS. Yes, True app doesn't show the option of topping up from an international card inside the app itself. Go to your banking app, find 'card to card transfers' and try to transfer directly to your True Mastercard. It is deposited either momentarily or up to 2 hours.
Jonas *************
@Oleksandra *********
I have never seen a card to card transfer option in a banking app. What country and what bank is your banking app from and the foreign card you're using?
Oleksandra **********
@Jonas ************
@Steven *********
both Visa and MasterCard have direct card-to-card transfer options (Visa Direct and MasterCard Send, if I remember correctly). You do need to check with your banks if these systems are indeed available.In my banking app, I can simply go to 'Transfer funds' menu, and one of the available options would be 'a transfer to another card'. It can be a card of almost any bank, within the same payment system (MasterCard to MasterCard or Visa to Visa). I only need to input the card number and a name.
Oleksandra **********
@Jonas ************
I don’t have any specific information about credit cards, unfortunately, since they aren’t very popular in my country and I have a very limited experience with them. What I did was a direct transfer from my debit card to the virtual True Mastercard (which is also a debit card).Jonas *************
@Oleksandra *********
that's great if it works to the debit card. But for a credit card probably will charge you cash advance fee but that would be very high interest rate like 20% maybe....
Steven **********
@Oleksandra *********
How do you get money from foreign bank account to the truemoney wallet? The app does not allow connecting foreign bank accounts. At least not for me.Oleksandra **********
@Steven *********
I have written in the original message.Steven **********
@Oleksandra *********
I have the Mastercard but I do not see how I can add money to it from a foreign bank account.
Rogerio ******
can you use it to pay street vendors with their bank QR codes?
Dany ********
why do you not take 30k baht per transaction from ATM? would be much better.
i also have TrueMoney for a while now and it is an okay solution. 7-11 top up is limited to 3k baht per transaction which is kinda stupid. besides that it is pretty good.
i also have TrueMoney for a while now and it is an okay solution. 7-11 top up is limited to 3k baht per transaction which is kinda stupid. besides that it is pretty good.
Jonas *************
@Dany *******
very few ATMs allow 30k even if it's listed option...Dany ********
@Jonas ************
what are you talking about? every Krungsri and kbank atm will give you 30k… bangkok bank 25k. and some others… i am pulling money from the atm for years now. every month multiple times.unless they are allmost empty. what maybe happens in 1% of the cases… maybe deep in Isaan 🤣
Dany ********
@Jonas ************
sounds more like a you-problem with the selection of the ATM that you use… its recommended to use atm at the banks in case it eats your card and for safety. they will surely be stacked.i probably used the ATMs in this country 100 times in recent years and i think it was 1, max. 2 times that it didnt had 30x1000 bills….
so you cannot say that ATMs often dont have 30k available.
Jonas *************
@Dany *******
well I live here 5 years and yes the yellow machine may give you more but the others even 25k often you have to go down to 20K from foreign card. This is mostly in Bangkok.
Sophie *********
@Dany *******
With HSBC, it cost me £25 a time to do this.Dany ********
@Sophie ********
then change your bank.
Sean *******
@Sophie ********
Open a virgin money account, no fees apart from the 220 baht.
Rick ************
Reading the reviews in Google Play Store, this app is not very favorable. Many having issues. Also requires developer mode deactivated :)
Anonymous *************
OP@Rick ***********
can’t say I’ve had the same experience pal, is pretty much perfect for meRick ************
Anonymous participant Just tried to install. It says, must have to disable Developer Options. This makes it a huge no-go for me.
Jordan *****
Can I ask someone to deposit money in my True Money account, like my Thai brother?
Chad ********
@Jordan ****
he can make free transfers from his true money
Anonymous ******************
@Jordan ****
Cash, yes, but fairly confident I saw that no one else can top up from their bank.Dany ********
@Jordan ****
yes that should workAnonymous ******************
Isn't there an app you can upload directly from your credit card?
Why is everything in Thailand so complicated 🤔
Why is everything in Thailand so complicated 🤔
Anonymous ******************
Anonymous participant 669 QR code is used extensively throughout Thailand. Not complicated at all
Dany ********
Anonymer Teilnehmer 669 no there isnt
Midiah ********
So when did they began a wise debit card again? Are they up and running yet?
Anonymous ******************
@Midiah *******
What country?
Yasmin ***********
Hmmm would be nice if you can transfer money directly from you bank to this app
Anonymous ******************
@Yasmin **********
oops sorry I remembered I used my visa bank card to top up not transferAnonymous ******************
@Yasmin **********
can use moreta pay for this
Amir *********
what about electric bill?
Chad ********
@Amir ********
can pay in True money
Gab ****
@Amir ********
use PEA app and pay by qr code he say the qr code work but yes wise + truemoney here look a good option if you dont have bank
Jai **********
@Amir ********
yes, you can pay it via the TrueMoney app. And your internet bill, if applicable, as well.Dany ********
@Amir ********
take it to 7-11 and pay cash. cannot get easier than thatAnonymous ******************
Credit card or find a place that bills everything in one and just use wise to transfer.
Anonymous ******************
@Amir ********
pay through the lazada appAmir *********
Anonymous participant 439 you mean you can top up the app, then scan with it the barcode and pay?
Daniel ************
Can't you feed TrueMoney from a Wise transfer and save the 220 B Atm fees?
Henry **********
there really isn't any benefit.
Dany ********
@Daniel ***********
and wise also takes a fee so where even is the benefit??Dany ********
@Daniel ***********
no you cannot
Donna ************
Thank you, this is really helpful information 👍
Jack ********
Tracking spending is bookkeeping not accounting son
Anonymous ******************
Thank for the info! Can you or do you pay your rent and utilities thru True Money?
Dany ********
Anonymer Teilnehmer 739 you can. but you can also just go to 7-11
Anonymous ******************
Anonymous participant 739 you can pay your electricity bill through the lazada app and a credit card
Anonymous *************
OPAnonymous participant 739 yep, you just need to get the details from your landlord.
Anonymous ******************
Stop at step 2.
Keep the cash with your passport at your accommodation. Carry no more than 5000 at a time.
Cash is king and a nice budgeting tool too. Please keep the cash economy alive. We need more incentives for small retailers to keep change on hand.
Money stored in a centralized system is not your money and subject to the whims of the system.
Even cash is subject to the whims of the issuer too but you have less counterparty risk.
Keep the cash with your passport at your accommodation. Carry no more than 5000 at a time.
Cash is king and a nice budgeting tool too. Please keep the cash economy alive. We need more incentives for small retailers to keep change on hand.
Money stored in a centralized system is not your money and subject to the whims of the system.
Even cash is subject to the whims of the issuer too but you have less counterparty risk.
Gab ****
All try to safe fee but why not win when spend using crypto.com 🤦♂️
Travis ********
Anonymous participant 953 nah m8 you should have all your wealth in gold, salt, and iron (weapons and armor). And a bit of silver coins for day-to-day spending.
Anonymous ******************
Those things set off metal detectors though
Nelson ******
Anonymous participant 953 I'm not going back to paying for the mototaxi or car with cash then having the possibility of carrying loose change around for the rest of the day.
Dany ********
@Nelson *****
better to pay cash in case they not show up or other issues occurAnonymous ******************
If they don't show up you can report it to grab/bolt and they will refund you your money and kick the driver off the platform or discipline them
Anonymous ******************
Why not just use grab / bolt. No need to interact at all with them.
Anonymous ******************
It wasn't super easy for me I had to change my region in Google play store first to Thailand and then the right app showed to download, submitted my passport and got an error message, but I tried later and it worked, then I upgraded using the DTV document
Anonymous ******************
Anonymous participant 394 How did you upgrade using the DTV? I do not see that option.
Anonymous ******************
Anonymous participant 904 I think if you try to transfer money to a bank account you will see it, sorry I don't really remember. It might not be called "upgrade", it's like "unlock" more features or something. After you find it you can choose an option to submit documents, I think the first option is thai national ID and the second option is for other ways, that's the one I chose
Anonymous ******************
Anonymous participant 394 oh I just saw it it's called "advanced account"
Martin ********
The only thing I’d do different would be to exchange cash for the best fx rate and no atm fees.
Winston ************
Thanks for sharing. Is it easy to sign up for TrueMoney? What are the requirements? Are all nationalities eligible? Lastly, where to find TrueMoney kiosks?
Mustapha ****************
@Winston ***********
you can find true money kiosk in all ****
. Also, to sign up for true money, you just need to download the app and follow the necessary steps and verifications. You will also need to upload your passport and type of visa you hold.Rogerio ******
@Mustapha ***************
can you use it to pay street vendors with their bank QR codes?Mustapha ****************
@Rogerio *****
yes you can. The option is embedded in itActivity
37 joined37
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