Hi, I am retired and coming to Thailand, been a number of times over the last 12 years and I wondered if it is worth while opening a Thai Bank account. I want to come over on the 60 day VOA 2 or 3 times a year and would spend no longer then 180 days in the country in any one year. I have a Revolut account that I have a Thai Baht account in, which means I can exchange Stirling to Baht at bank inter exchange rates with no commission, I will pay an ATM fee for cash withdrawals but no fee to Revolut and would bring cash to exchange at the Super Rich bank as and when needed and use my Revolut card as well for purchases. The Revolut account also gives me 90 days Health insurance cover up to £10m per trip. I don't want to get a retirement visa at least for the next 2-3 years until I have checked every thing out, so the question is is it worth opening a bank account and what are the pro's and con's given that I only intend to visit for 60 days go back to UK for a couple of month then back for 60 and so on. TIA
TLDR : Answer Summary
The conversation revolves around whether a retired individual, planning to visit Thailand multiple times a year on a 60-day Visa Exempt Entry, should open a Thai bank account. Many responses indicate that opening a bank account under a tourist visa or Visa Exempt status is highly challenging and often not practical due to the requirement for stronger residency ties. Alternatives like using a Revolut account for currency exchange, cash withdrawals, and travel insurance are discussed, with warnings about potential fees and conditions related to travel insurance coverage. Suggestions include using other banking options like Starling or Wise for better accessibility and potential services. Overall, the consensus leans towards maintaining flexibility with existing accounts rather than pursuing a Thai bank account at this time.