What are the best ways to manage money while living in Thailand?

Mar 20, 2022
3 years ago
Sarah *********
ORIGINAL POSTER
Hi everyone

What does everyone do with money? Do you have your normal debit card and lift money as you go.. just looking for any suggestions 😊
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TLDR : Answer Summary
In a discussion about managing money in Thailand, users highlight various strategies for accessing and using cash. Common advice includes using ATMs cautiously due to fees (220 baht per withdrawal) and opting for maximum withdrawals. Many recommend carrying sufficient cash and exchanging it in Thailand for better rates, particularly at trusted money exchange offices like Super Rich. Debit cards such as those linked to American banks (e.g., Schwab) that provide fee reimbursements are also suggested. The conversation reflects personal preferences and experiences with using cash vs. debit cards, with 'cash is king' being a recurrent theme in the expat community.
Joey ************
Yes I do with chase it’s free with my account status. I would suggest bringing at least a second one from a different financial institution. I lost mine while traveling and this would have made things easier. Two weeks to deliver me a new one 🤦‍♂️
Gordon *******
As always Cash is king and long may it be
Estefan **********
Scan pay is what I use more than the actual card
Martin *********
Cash and back up cards
Martin ********
I burn it
Jack ******
Use hsbc i changed to them before I left Australia no fees. And they are a worldwide bank
Sophie *********
I carry as much cash as is possible and then change it once in Thailand, though obviously not at the airport. Superrich is ok. I also have a Halifax clarity card.
Rod *********************
Take cash and exchange into baht once in Thailand.. TT Currency gives a good rate.. or look for the gold shops that exchange money..
Peter ***********
Yup save a lot by bringing cash. Super Rich has the best rates. Also. If you have a credit card that doesn't charge foreign transaction fees & gives you points that will save the amount of cash you need to carry. Credit cards are widely accepted in Thailand.
Chris *********************
@Peter **********
last year when I came home super rich was same as green bank .

I know you used to get a better rate for £50 notes not now mate
Peter ***********
@Chris ********************
, yup been more than two years now. however Super Rich has two main locations that offer better rates.

If you are not changing a huge amount of cash it doesn't make a big difference. I will check green bank next time. Thanks
Chris *********************
@Peter **********
down stairs in the airport there was only 1 super rich and 1 green bank open everything else was shut
Peter ***********
@Chris ********************
, oh at the airport ... I'd just change a litte cash the. Better rates in town.
Chris *********************
@Peter **********
down stairs in the basement in the airport they are same rates as in town
Justin *********
Schwab is the best ATM/debit card I’ve found for international travel. No foreign transaction fees, they refund everybody else’s ATM fees, and their customer service is available
****
via online chat. A couple years ago, I was in Indonesia, and the ATM machines kept triggering security and causing my card to freeze. Schwab customer service found a local number that I could use to reach them, and then stayed on the phone with me for at least twenty minutes as I walked around the city to find a couple ATM machines that worked.
Andy *********
Our experience with said 'bs feeder company' over the last 6+ years living and bouncing around S.E.Asia has been the same - very good. And saved us money too.
Holger *******
@Andy ********
yeah lots of people from US use Schwab. Unfortunately hard to get for those in other countries.
Justin *********
Holger Mette crap, that’s actually a really good point. Most banks in the US are ok about refunding ATM fees, but lots are also sneaky with foreign transaction charges or just crappy rates, so Schwab tends to stand out as an ideal option. I have no idea who the best banks in Europe would be for international ATM use, though.

On the bright side, though, I think all of the European credit cards should work fine on Thai websites and apps. (They’re using the same security protocol that Thailand is using online, I think.)
Carol ********
Money? I spend it!
****
Charles Schwab card, no fees
James ***********
Spend it...
Terary **********
Transferwise - AKA Wise. Requires you have bank account locally.
Douglas ************
@Terary *********
No it doesn't. We used Wise for 5 months, prior to opening a BKK Bank account. It costs 220 Thai BAHT every time you use the ATM for withdrawals. So take out the max every time (20,000 TBaht).
Niclas ***********
I use Wise debit card and local bank account. Like people said bringing some cash for your initial budget to be exchanged is probably best. Avoid ATM but if you use it take out max amount.
Brian ********
Look at the Wise debit card it may be suitable for you google Wise money transfer
Stephen *******
@Brian *******
Still going to pay the 220
Justin *********
@Stephen ******
does Wise refund that? A lot of banks do now — although some of them have foreign transaction fees on top of the ATM fees.
Lisa ********************
Starling, Monzo or Revolut cards. Although cannot withdraw cash in branch using Revolut.
James ********
After 16 years of trying not to get screwed to get the best value for my money is!!

Take as much cash as you can or want to ! Try not to use ATM s ! You can take 0your card ( which ever one you want) to a bank with your passport And you will not be charged!! Take largest notes new or as new as possible, no marks ,pencil or pen marks etc.

This year I am trying both a

Wise and Starling Cards to see how they compare!!
Rob ********
I used to just use the ATM's until i realised how much i was losing. Now i'll bring the maximum amount of cash allowed and exchange it thailand. It's the best conversion rate you'll get. I also believe Vasu money exchange is the best rate you will find. I think it's on the corner of sukhumvit soi
***
Bangkok. Hotel room safe should be fine, but most hotels also have safety deposit boxes in reception. It requires 2 keys and you hold 1 of them. If i am running low i will buy Thai Bhat in a lump sum over the counter in a bank. (Look around for the best rate). I'll never use an ATM again.
Sarah *********
ORIGINAL POSTER
@Rob *******
thanks so much 😊
Edgar ************
"Do you have wake" ???

"Lift money" ??

Can someone translate this for me?
Sarah *********
ORIGINAL POSTER
@Joshua ************
everyone else can understand me perfectly fine so there is no need to be rude for one typo 😊 “Lift money” makes sense to the thousands of people in this group.
Erik *******
@Sarah ********
Do not assume anything as you know nothing about anyone in this group !!! Including language skills !!! So STFU !!!
Sarah *********
ORIGINAL POSTER
@Erik ******
totally agree with you
Edgar ************
@Sarah ********
English is your native language, I'm astonished at what I read before.
Sarah *********
ORIGINAL POSTER
@Joshua ************
very ignorant to assume English is my native language 😂
Edgar ************
@Sarah ********
You're from North Lanarkshire. It says it on your profile.
Sarah *********
ORIGINAL POSTER
@Joshua ************
yes currently 🤣 does that mean English is my native language?
Edgar ************
@Sarah ********
Yes. Your last name is McManus (irish), you have a stock standard British appearance and English IS your native language. I'm not sure what you get out of denying that? 😅
Sarah *********
ORIGINAL POSTER
@Joshua ************
nobody is denying anything 😂 I’m saying do not assume anything as you know nothing about anyone in this group and for you to come on to a post which is asking for ADVICE to then criticise a strangers spelling? Also “ stock standard British appearance “ that’s really nice 😅
Mark ********
@Joshua ************
Quiet Josh, the adults are talking.
Pat *****
I send to thai gf account. She only charges me 1000 thb withdrawal fee
Mayo **************
@Pat ****
how often do you withdraw? Does she like it? 😅
Mel ********
@Pat ****
that's because you created NO INTEREST!!!
Alan *******
Totally depends on how long you’re staying.

Weeks, a month? Get a Schwab checking account and ATM card. Good exchange rates and they refund the ATM fees.

Long term? Use a good rewards card like a Chase Sapphire or Amex for all your food delivery and Grab taxi rides and use them at any hotel or restaurant that will take them for the points.

For places you have to use cash, open a Thai bank account and use Wise to transfer to it.

I’ve compared the costs of using Wise and the Schwab card and Wise is still cheaper.

When you open your Thai bank account, go to a branch in a touristy shopping mall, they’re more likely to give you an account without hassle or trying to force you to buy an insurance policy you won’t want.

I’d Recommend Kbank if you want to do Wise transfers of more than 50k baht at a time as many other banks can’t accept more than that for some reason.
Sarah *********
ORIGINAL POSTER
@Alan ******
this is all extremely helpful! Thank you so so much 😊
Philip **********
I use my kbank phone app to pay for everything.
Dave *********
Cash ...they love cash..cash is King.. and change it in Bangkok not your native country and make sure the bills are not damaged eg: torn or have biro on them ..just a bit of solid advice..
Gordon *******
Cash is always King

No brainer
Sarah *********
ORIGINAL POSTER
Thanks everyone appreciate alll the suggestions
Martin *********
Good thread, pros and cons for cash or card, on my 1st visit I had travellers cheques and lost the lot on the train into Bangkok within minutes of arrival. Luckily I had cards to see me through. Any benefit in wiring yourself money via Western Union?
Iain *********
All Thai banks charge you 220 baht to withdraw money, plus your home country bank charge. You can take 20,000 baht out the ATMs at a time, it’s probably your cheapest way, check the prepaid cards you can get that might not charge you to withdraw money, (you’ll still get charged 220 baht from the Thai banks) i used to use Revolut which gave me “free” withdrawals from ATMs, I still paid the Thai bank charge though.
Niclas ***********
I saw
*****
on Kasikorn as well with Thai debit card.
Tony *********
@Iain ********
UOB lets you take out 30,000 I found out
Mark ********
@Iain ********
There is one ATM that lets you withdraw
*****
B each time..from memory it is Krungsri ( yellow one ) The 220 baht withdrawal fee gets up my arse, that's a lot of money to pay. This is why I keep a shitload in my safe.
Winston *********
I have an atm card which repays all service fees. I still take about US$1000 with me, in addition, just so I don't need to go searching.
Sam *******
Crypto.com card
Dave *******
Starling or wise, should be able to draw cash from bank direct with ID
Carl ********
It’s obviously a personal choice but I prefer to use ATMs when I need money! I don’t Want to have to worry about having lots of cash left in a safe or on me while travelling
Mark ********
Keep a shite load of folding in your safe..pay with cash everywhere.
Bonnie *******
Bar girls and lady drinks mostly
Sarah *********
ORIGINAL POSTER
Stuart *********
You can use your debit card at an atm to withdraw cash, but you will be charged 220 baht service fee each time, so opt for the maximum amount. If offered a conversion rate at the atm always choose not to. The rate will be horrendous.
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