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What are the best banking options for expats traveling to Thailand?

bank accountsATM withdrawalscurrency exchangeexpat bankingThailand travelWiseRevolutCharles SchwabStarling BankCaxtonFX
Mar 24, 2022
3 years ago
Joanna ******
ORIGINAL POSTER
Hi everyone!

Me and my partner are heading to Thailand in April and will be travelling various countries for a long period of time. I’m just wondering what the best options are as regards to bank accounts. I’ll of course be wanting to withdraw money from atm’s all over world, does anyone have any suggestions? Ive heard Charles Schwab is one of the best but sadly you have to be a US citizen.

Any help appreciated! 😊
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TLDR : Answer Summary
The conversation revolves around finding the best banking options for withdrawing money while traveling in Thailand and other countries. Users recommend various banks and services such as Wise, Revolut, Starling Bank, and Charles Schwab, highlighting features like low fees, favorable exchange rates, and card security measures. There's also advice on using ATMs carefully and ensuring notifications are set with banks for travel.
Liam ********
I use TransferWise now known as wise have a great app and a pre paid master card easy to connect to your home country bank had it for years
3 years ago
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Jack *********
CaxtonFX, totally free. Awesome customer support. Can top up twice a day and select whatever currency you need. Can withdraw up to £300 a day and unlimited card payments. Used them for years never regretted it.
3 years ago
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Niclas ***********
@Jack ********
 what conversion percent you get roughly?
3 years ago
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Jack *********
@Niclas **********
 at the moment its about £1 - 44 baht.
3 years ago
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Jack *********
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London *****
There is also Revolut and Mongo in the UK.
3 years ago
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Nicola *********
@London ****
 Monzo**
3 years ago
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Nicola *********
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London *****
you dont have to be a US citiZen for a Schwab brokerage account which comes with a debit card. though their is a high account opening amount required.
3 years ago
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Brian ********
Wise has a debit card that you load up with your Currency and you use as a normal debit card and Wise will always give you a excellent rate I think you are allowed two free ATM withdrawals each month
3 years ago
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Paul ***********
Which ever bank let them know you travel to use atm,or you can try wise
3 years ago
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Terence ***********
Whatever you use, make sure you lock the card after each use , many skimming devices on ATM worldwide
3 years ago
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Joanna ******
ORIGINAL POSTER
@Terence **********
 oh wow ok thanks for this!
3 years ago
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Joanna ******
ORIGINAL POSTER
Thanks so much 😊
3 years ago
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Joanna ******
ORIGINAL POSTER
Goodness! So would you suggest avoiding ATM’s all together? I was just worried a lot of places may only take cash
3 years ago
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Niclas ***********
@Joanna *****
 I am not sure what card or where he had the unfortunate encounters. Credit card is good if you encounter fraud. But normally ATM in normal areas are perfectly fine exactly like everywhere in the world.

I have made hundreds of withdrawals in Thailand and region and never had any issues other than no network. Meaning have to wait or try another. It is no different from any other place in Europe. If the machine looks dodgy or tampered with find another. Or go into the bank lobby which in many parts have staff on duty as well. For example in shopping malls.
3 years ago
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Niclas ***********
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Niclas ***********
Wouldn't worry to much about it and not more then I would in Europe...
3 years ago
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Terence ***********
@Joanna *****
 I used ATM in Bangkok and money was withdrawn in vietnam , I used a card in VIP lounge in Frankfurt and a clock was bought in Chicago for $8000. Was refunded both times but i dont take chances now.
3 years ago
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Terence ***********
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Gareth ********
I’ve used Revolut for the last couple of years. You can hold various different currency accounts.
3 years ago
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Joanna ******
ORIGINAL POSTER
Thank you both! 😊
3 years ago
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Ricky ******
Starling Bank no fees for card payment or atm withdrawals. The atm will charge its own fee though. 220 baht per transaction (c7% on average with a worse exchange rate as well) in most cases. Use card to pay for everything, even small
****
purchases.
3 years ago
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Niclas ***********
You can check out the likes of TransferWise now Wise and the one I not dared to try Revolout. All of them have different benefit. I use Wise as my travel card which they supply for free and load it with my currency for spend in other countries. The conversion is decent enough for me to not look at others as is. I am sure there is more actors out there and cheaper ones.
3 years ago
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Martin ********
@Niclas **********
 Plus it allows you speculate on the exchange rate a little bit. If it looks like the rate is better then usual, buy baht at that time.
3 years ago
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Martin ********
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