Answered2 months ago
What are the best ways for American DTV visa holders to access funds while in Thailand?
What works for you ? Gaining Access to funds:
As an American DTV visa holder, the most cost-effective and reliable way I’ve found to access my money in Thailand is through my Chase Premier checking account.
I can withdraw up to $1,000 USD per day from international ATMs, and Chase reimburses the 250-baht Thai ATM fee, usually by the next day. At the ATM, I always choose “without conversion” so the transaction is processed in Thai baht rather than accepting the ATM operator’s exchange rate.
By declining the ATM’s conversion, Chase handles the currency conversion at a much more favorable rate, generally very close to the prevailing market rate. I’m also not charged additional foreign transaction or international ATM fees by Chase.
For me, this has been the most straightforward and trustworthy way to access cash in Thailand while minimizing fees and getting a strong exchange rate.
Chase Premier Fees: No Chase fees on ATMs across the globe, no foreign exchange rate adjustment fees. $25 a Month or $15,000 balance or more
As an American DTV visa holder, the most cost-effective and reliable way I’ve found to access my money in Thailand is through my Chase Premier checking account.
I can withdraw up to $1,000 USD per day from international ATMs, and Chase reimburses the 250-baht Thai ATM fee, usually by the next day. At the ATM, I always choose “without conversion” so the transaction is processed in Thai baht rather than accepting the ATM operator’s exchange rate.
By declining the ATM’s conversion, Chase handles the currency conversion at a much more favorable rate, generally very close to the prevailing market rate. I’m also not charged additional foreign transaction or international ATM fees by Chase.
For me, this has been the most straightforward and trustworthy way to access cash in Thailand while minimizing fees and getting a strong exchange rate.
Chase Premier Fees: No Chase fees on ATMs across the globe, no foreign exchange rate adjustment fees. $25 a Month or $15,000 balance or more
Answer summary
American DTV visa holders are exploring various effective ways to access funds in Thailand. A significant number highlight experiences with banking options such as Chase Premier, Schwab, and Wise, focusing on minimizing fees and obtaining favorable exchange rates. Chase Premier is noted for its fee reimbursements and favorable ATM withdrawal limits, while others mention using services like Wise for international transfers or local cash withdrawals through Thai bank accounts to avoid ATM fees. The consensus suggests that direct ATM access with a US debit card chosen with the right options simplifies fund access without unnecessary complexity.
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Donny ******
Same way except through Schwab. Been getting all fees waived for 20+ years. It’s been a good ride
Daryl *****
OPDonny Mike That's awesome to hear. Never understood why someone would do any different unless your visa required a Thai bank account.
Donny ******
@Daryl ****
For Americans I 100% agree. Same with paying cash for flights for that matter. I have been using credit card bonuses for 15 years to sort that out. If you’re from Europe or even Canada I think the options are much more limited.
David ******
Most effective is my Thai Bank account 15 baht fee. But otherwise I'm a Charles Schwab ATM puller around the world. Same reimbursement. I never knew my Chase Premier Plus checking has reimbursement.
But yes, with Thai Bank account there is really not a need to walk around with cash, unless you want short time. 🙂.
But yes, with Thai Bank account there is really not a need to walk around with cash, unless you want short time. 🙂.
Daryl *****
OPDavid Earl Great point David.
David ******
@Daryl ****
I was just checking are you sure Premier Plus has reimbursement. I think that is only for Private Client accounts. Yes, no ATM fees world wide, but it does not reimburse the Thai bank surcharge of 220 baht(or whatever that fee is).
Charlie *********
What works best for me is moving money from my US account to my Thai account via Wise, and then when I need cash I use my Thai debit card, so there's never an ATM fee, and most of the time I pay via QR scan anyways. I'm generally not too bothered by chasing the exchange rate much, it fluctuates, but I've seen it from 29:1 up to 38:1 during covid. Recently it's been around
*****
, and the difference in savings is small enough that I don't bother stressing about it, generally only a few dollars. Of course, if you are making a big purchase, such as buying a car or a condo, the exchange rate does become a bit more important as the savings scaleDaryl *****
OP@Charlie ********
harlie, this post was really more about the DTV side of things. As a DTV holder, I’m not currently able to open a Thai bank account, so I’m looking at the most practical way to access my own money while I’m there.Even if I were eligible for a Thai bank account, I still don’t really see the benefit of transferring money into it when I can already withdraw up to $1,000 a day from my U.S. account without paying ATM or foreign transaction fees. I’m not spending anywhere close to $1,000 a day in Thailand, so for me, transferring money just adds another step without solving a problem I actually have.
Woodberry *******
Wells Fargo premier is good too same benefits
Maicol ****
If you have a Thai bank acct, you should have a Thai Visa debit card. From affiliated ATM machines you can withdraw your Thai baht with no fee. To get money into my Thai bank acct, I wire it from Schwab
David ******
Maicol Ch interesting, what fee does Schwab charge for wire. I have Schwab but I use Wise to transfer money. Seems pretty cheap and fair.
Daryl *****
OPDavid Earl If you already have a bank account that gives you fee-free ATM access, reimburses the Thai ATM charge, and doesn’t hit you with foreign transaction fees, there may be very little reason to transfer money through Wise just to get cash.
Glenn ******
David Earl I use Fidelity, which charges no fees for wires. Thai banks charge a fee which ranges from 200 baht to 500 baht for incoming wires, so I can transfer extremely large amounts for a fixed fee of 500 baht. I compare those rates with Wise all the time. Generally, Wise will be a little bit better for small amounts and Swift wires better for large amounts.
Steve *****
David Earl Charles Schwab charge me $15 for Wire transfers.
Maicol ****
David Earl my experience is that Schwab doesn't charge me. But I haven't analyzed what exchange rate the thai bank is giving me.
Octo *******
I ran a test last week - Schwab v Wise. Wise was just a tiny bit better - around $1 or so, for a $1000 transfer to my Thai bank account.
Chase is just terrible for transfers.
Chase is just terrible for transfers.
Brandon ************
@Octo ******
Wise is probably cheaper when you take the Thai bank's exchange rates into account. That's where you get screwed normally.Brandon ************
@Maicol ***
DTV holders do not qualify for bank accounts
Steve **********
Does anyone have experience comparing Schwab and Chase Premiere?
Bob ******
Steve TSwimmer I can't compare Schwab with Chase, but I usually get a better rate with Schwab compared to TT Exchange (which is one of the better cash exchange companies in Thailand).
Steve **********
Bob Wolf I’ve heard a lot of good feedback about Schwab. Thx!
Daryl *****
OPSteve TSwimmer Chase premier. $25 monthly fee or maintain $75k
Sal *****
XE to xfer to Thai bank account whenever the rate is favourable. Fund the XE xfer from my home country bank account as just another bill payee. XE charges no fee. My bank charges no fee (for making the XE "bill" payment). Whenever I compare FX rates XE's is the best I've found (eg. always better than Wise when calculating total cost of xfer). Only fee charged to me is by my Thai receiving bank (SCB) - which is a flat fee.
Daryl *****
OPSal Mon Exactly. That’s really the point of the thread. The whole transfer-money route just sounds more complicated than it needs to be for someone in my situation.
If I can walk up to an ATM, insert my U.S. debit card, decline the ATM’s conversion, withdraw what I need, and not get hit with ATM or foreign transaction fees, then I don’t see the benefit of adding extra steps just to move money around first.
For me, simplicity wins. I’m not trying to move huge amounts of money or keep a large balance in Thailand. I just want easy access to my own funds when I need them, and the ATM already does that.
If I can walk up to an ATM, insert my U.S. debit card, decline the ATM’s conversion, withdraw what I need, and not get hit with ATM or foreign transaction fees, then I don’t see the benefit of adding extra steps just to move money around first.
For me, simplicity wins. I’m not trying to move huge amounts of money or keep a large balance in Thailand. I just want easy access to my own funds when I need them, and the ATM already does that.
Brandon ************
@Sal ****
DTV holders do not qualify for bank accounts.
Michael **********
I have Schwab and Fidelity. I’m going to switch my Chase checking to Premiere, more options/backup the better.
James *******
I bring up to $10,000 USD in my wallet, I exchange at SuperRich, Sindhorn tower when the rate is favorable then deposit at my Bangkok bank account.
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