Answered2 years ago

What are the best banking options for Americans in Thailand with a DTV visa?

Thai Visa Issues Banking for Expats Rent Payment Methods American Expats in Thailand Cash vs. Digital Payments Fee-Free Financial Services

Baron **************

asked Nov 11, 2024

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Since getting a Thai bank account on a DTV seems to be an issue, what are Americans doing? Favorite fee-free credit or debit card? Other workarounds? Please share what's working for you. Are you handing over 15-30k for rent in cash every month?

Answer summary

Many Americans in Thailand face challenges with obtaining a local bank account, particularly when on a Digital Nomad Visa (DTV). Various solutions have been shared: using Wise for quick fund transfers to landlords, opening a Charles Schwab account for fee rebates on ATM withdrawals, and relying on fee-free credit or debit cards for managing expenses. Some expats suggest hiring agents to facilitate banking processes, while others combine multiple bank accounts to optimize their financial transactions. Concerns about high cash payments for rent and the lack of recognizable payment confirmations in digital transactions were also discussed.

8 repliesnewest first

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Wannikea *********

Pay an agent to get an account, save yourself time, money, and grief.

2 years ago

Deepak *******

I use credit cards and fee-free ATM cards for cash withdrawals for all my needs and have been doing that for almost 10 years, though I have three Thai bank accounts. No problem at all.

2 years ago

Paul *******

@Deepak ******

Where do you get these fee free ATM cards? Most banks charge 3%, so unless it's a credit union or something you have to deal with these charges. If you have a Thai bank account, just transfer funds to it and withdraw directly.

2 years ago

Deepak *******

@Paul ******

Fidelity and Charles Schwab ATM cards. They will reimburse all ATM charges worldwide. Fidelity reimburses instantly, and Charles Schwab reimburses at the end of the month. My all credit cards have no international charges, I get 3% cash back and 100% fraud protection (just make a phone call and all unauthorized charges are removed), and using other people's money without interest for at least 25 days.

2 years ago

Alain ***************

Xou can store your landlords bank details as a recipient in the wise app/website and send without any fees. Unfortunately Wise doesn’t show a payment confirmation a thai easily recognizes. Thai bank apps should a confirmation slip that you can share and the recipient can double check with the QR vode on it that it’s really paid. Good thing years ago it was pretty easy to open an account on a tourist visa. I still use this one. But you can also use wise to pay phone, internet and electricity bills. So far only shoppee didn’t accept the card

2 years ago

Paul *******

@Alain **************

Why wouldn't a Thai recognize a Wise transfer slip? Put your name in there and send them a screenshot of the transfer and youre done. Write in Thai if it helps.

2 years ago

Jef ********

I use wise to pay my rent it goes to my land lord in seconds and a really good exchange

2 years ago

Scott *******

If you are American and in the States get a Charles Schwab Investor Checking Account before leaving. All ATM fees worldwide are rebated at end of the month. Also get a Wise Account. Link all you bank accounts and your Wise together. You can either pay rent cash thru ATM withdrawal using Schwab or via transfer to Landlord's bank account using Wise.

2 years ago