Answered2 months ago
How do expats in Thailand handle banking and manage their finances?
The Thai banking system seems difficult for foreigners to use. How do you guys deal with banking? Do you continue to use common Western online banking, maybe? Monzo, Revolut etc.? If so, how do you manage a new ATM card, credit cards, etc.? I can't imagine that they post them to Thailand.
Answer summary
Many expats find the Thai banking system easy to navigate once they have the proper visa and documentation. Common practices include opening local bank accounts to facilitate transactions, using services like Wise for money transfers, and managing finances through mobile banking apps. While some express concerns about maintaining connections with their home banking systems, many have successfully integrated into the Thai banking environment, utilizing QR code payments and various transfer services. There are differing opinions on the difficulties faced by foreigners, with some reporting no issues after years of residency.
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Rudi **********
I don't have any problem with them. I already use it for a few years.
NongTong *****
trying to cut corner then you will meet heartache. learn the rules and regulations, everything will be smooth as silk.
Philip **********
Do you know of any other countries where they still use bank books?
Ossie *********
It’s easy peasy I’m with KBank tried others but K bank is my choice !
Glennstev ***********
I'm just trying to figure out why all the answers here talk about having a Thai bank account when as a DTV it is expressly forbidden to have one..
Derek ********
Thai banking very easy I just use the app to scan qr codes for everything works like a debit card unless you need cash for immigration for visa etc but my wife normally uses cash
Penny ******
I think once you open your account it is super easy … and very friendly…. We have an investment account at Charles Schwab…. We are currently building a home so we have extra cash here for that …. Otherwise in the future we will only keep my required 400k in my Visa account ….and have on hand about 6 mths of living expenses….. a wire transfer from Schwab is only $15 … we also have a Visa Credit Card that we can use for emergency and they wave all international fees.
For me my wife does most of the bank stuff here she pays the bills and scans when we are out otherwise I have cash on hand when I am out and about.
For me my wife does most of the bank stuff here she pays the bills and scans when we are out otherwise I have cash on hand when I am out and about.
Doc ********
It's pretty easy really if you have a Thai bank account.
I'm on a non o visa and I'm with Kbank which I set-up with two accounts so one for my 800'000 to season and my other account for the
Im from Australia and I use an app now called Smartway which I found personally better than Wise and Remity to transfer my money.
I mainly use the QR code now at the shops and the supermarkets just like a local which is super convenient.
I only get money out of the ATM if required.
I'm on a non o visa and I'm with Kbank which I set-up with two accounts so one for my 800'000 to season and my other account for the
*****
Thai baht per month to pay my bills etc.Im from Australia and I use an app now called Smartway which I found personally better than Wise and Remity to transfer my money.
I mainly use the QR code now at the shops and the supermarkets just like a local which is super convenient.
I only get money out of the ATM if required.
James **********
I changed my registered address to Thailand and received my cards here. You can change it easily
BluePassio**********
I use Bangkok Bank without issues
Alan *******
Any advantage of a Wise Account? I opened a K Bank Account 12 years ago as a tourist,.Since moving here and retiring, I have my State Pension, and PVT Pensions paid by the providers directly into this account. I would like to know how a Wise Account would be of any benefit. Would transfers be quicker / Better Exchange Rates ? I ask because I see Wise is recommended a lot of the time.
Matthias **********
Thai banking system works like a breeze if you are eligable to use it. It is advisable to keep your foreign account if possible or to open a new one which is friendly to people living overseas. And yes, some banks send you the cards to overseas.
Steve **********
Only 10 years for me. But it’s been BKK bank the whole time and I have NEVER had a problem. Revolut or wise to transfer from home banks.
Home banks I forward from a service to get new cards sent here. Before I changed everything to my son’s house and he did it. But he gets lazy so a service is better.
Home banks I forward from a service to get new cards sent here. Before I changed everything to my son’s house and he did it. But he gets lazy so a service is better.
Graeme *******
What's so hard about the Thai banking system, you have an ATM card which is also a Eft Pos card, put money in via Wise, take money out. Never tried to get a CC from my bank as no need for one. Items ordered by way of Lazada etc can be payment on arrival, I live here with my wife and have no need to travel out of Thailand.
Willi*****
Bangkok bank froze my account for 5 months.No reasons,explanations or apologies ever offered or given.Had a million baht in it for my non o retirement visa. Bastards!🤬
Laurie **********
I know that the ANZ bank in Australia will send new cards via DHL as long as you maintain your online contact. If you need to renew contact it is a terrible process as they will only assist over their os phone line and that is a horrible experience. Other than that all good.
Paul ********************
Of course banks send cards to Thailand, my main banking is in Singapore and they send me new ATM and credit cards via DHL..
Jean-marc ********
i have a Kasikorn bank account, pay everything with my Qr code scanning! I transfer once a month with my Wise account, i have money on my Visa from my Canadian bank and can withdraw from my Canadian bank account but 350 bahts everytime!
Marcel ***********
Sorry I deal with atb your bank might have that
Marcel ***********
Jean-marc Dumais how come you don't have a visa debit card i do and it cost me 250 baht for trans action
Jean-marc ********
Marcel Patenaude i have, but i scan
Paul ********************
It's easy, and less drama than some of the jurisdictions I have operated in over the years...
Roel **************
I am more then 21 years in Thailand and never have any problem with bank in Thailand. I had before 3 different banks. It's easy to use or make amounts inside from other country, sometimes in seconds the money are on my Thai bank.
Ling *****
The Thai banking system is easy to use, all you need is the correct visa and other credentials to open your account. Once open I transfer money from my home bank with Wise straight into that account and I can pull out cash from ATM'S for free.
Kevin *******
Ling Gah me too !
Paul *********
I have not had any problems with my Thai bank account. I have an app which enables me to see incoming payments in real time & make payments. That’s Krungsri Bank. There are some restrictions in opening it such as owning a property.
James *******
Before I had a visa, and a Thai bank account, I just use ATM cards and of course carried cash when I travel.
ATMs are generally all over, quite reliable, and the fees are not egregious.
Make sure you use reputable ATMs though
And, bring more than one card, in case your ATM decides to keep the card you presented
ATMs are generally all over, quite reliable, and the fees are not egregious.
Make sure you use reputable ATMs though
And, bring more than one card, in case your ATM decides to keep the card you presented
Troy ********
James Allen For what reasons could/would the ATM decide to keep the card??😯
Michael **********
Troy Walton ATM malfunction. Some advice using ATM at the bank. If this happens, bank staff can help get your card back.
Peter ********
The Thai banking system is not that difficult. Easy to scan the qr system and pay with Thai bank account.
Michael ******
Get a Schwab account
Ted ********
But you still must be careful with having a USA address. I understand they have an “international “ account which I am not familiar with but have heard it has limitations which are not present for USA residents.
Bill *********
Ted Osmond One should never get rid of their US address! That option becomes extremely valuable in many scenarios.
Mick *********
The Thai banking system is easy for foreigners to use. Same as it is for Thai people. You just need to deposit money, which you can do from your own country, and use ATM, debit card and scan payments. Online banking lets you see all transactions.
Jonathan *********
Mick Aynsley all good until it gets cleaned out.the bank said they were going to investigate but nothing.
Mick *********
Jonathan Milburn never heard of that happening. I live in Thailand and know lots of people with Thai bank accounts. There have been reports of accounts being frozen but only when they weren’t opened legitimately or not updated.
Robert ******
Jonathan Milburn wow I've met thousands of people and never heard one of them losing their money in the bank. I've read about criminals losing their money which one are you?
Brandon ************
I think most people maintain their financial ties to home. The Thai banking system does not have many opportunities for holding large amounts of money, especially with beneficial interest.
Some banks will send you cards to Thailand, but I would never let one of my banks know I was in Thailand as some of them will close your accounts if they think you have moved out of the country.
Do you have friends or family you can use for mailing address? Then they can forward anything to you that is needed.
Some banks will send you cards to Thailand, but I would never let one of my banks know I was in Thailand as some of them will close your accounts if they think you have moved out of the country.
Do you have friends or family you can use for mailing address? Then they can forward anything to you that is needed.
Bill *********
Brandon Thurkettle One should always maintain their financial ties to home. And I too most certainly keep all of my credit cards domiciled in the US. All my financial transactions and investments are in the US so that includes my bank. There are services that will give you a virtual mailbox in the US so no need to rely on other people. Periodically my service will ship my accumulated mail to Thailand. That has worked very well for me.
James **********
@Brandon ***********
what banks will close your accounts?
Neil ********
James Mitchell all ofcthem if you dont have a valid visa
Brandon ************
@James *********
I've seen tons of reports of people from the UK having accounts closed
Gary *********
When i retire from Australia in about 3 years im not gonna waste time and stress on saving a few hundred baht a month by having a Thai bank account anymore, I had one years ago since expired im sure, But i feel the way its going no forigners will be allowed bank accounts in a few years, I will just run my world from my Aussies account i think
Ant ***********
You will need a Thai bank for Visa purposes
And especially living here
The exchange rates , transfer and withdrawal fees impact highly
Easy to have multiple term deposits back in Oz
& keep the bank interest
Under the 18,300 AUD per annum threshold to avoid tax in Oz
And especially living here
The exchange rates , transfer and withdrawal fees impact highly
Easy to have multiple term deposits back in Oz
& keep the bank interest
Under the 18,300 AUD per annum threshold to avoid tax in Oz
Trebor ********
@Brandon ***********
Yeah here in Australia pays to let them know your going overseas otherwise ,yes they will close/question your account .Pretty good with scammers etc etc now .Sometimes to good
Peter **********
Good advice
As always Brandon
As always Brandon
Marianne ********
It's not difficult if you are actually eligible for a bank account.
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