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What are the risks of using third-party banking apps like DeepPocket and Moreta for expats in Thailand?

Thai banking options third-party banking DeepPocket Moreta DTV holders Thai bank account expat finances fees and charges visa requirements

Feb 6, 2025

2 months ago

Chris *****

ORIGINAL POSTER

🚨UPDATE on third-party banking options like DeepPocket and Moreta, often considered alternatives for DTV holders without Thai bank accounts.

Be aware, online banking apps such as DeepPocket and Moreta have recently become popular, attracting many users.

However, after a surge in sign-ups, DeepPocket has altered its terms of service. Now, the QR-Scan feature is limited to 30-days and they will charge you 399THB every month for it!

Additionally, I ordered and received a Debit Card through the mail after waiting over a month, only to discover it's valid for less than a year…

So, if you believed these apps could fully substitute for a traditional bank account, think again! I strongly suggest securing a Thai bank account for seamless management of daily expenses.

I had my doubts from the start, suspecting these offers were too good to be true. Beware of these dubious apps that suddenly appear, tricking users into signing up only to impose fees later on.

Get a local bank account if you can!

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TLDR : Answer Summary

This post provides an update on third-party banking apps, specifically DeepPocket and Moreta, which have gained popularity among expats in Thailand. The author warns that DeepPocket has changed its terms of service, introducing monthly fees for its QR-Scan feature and noting the limited validity of its debit cards. They advise expats to obtain a local Thai bank account for better financial management, emphasizing the potential risks and hidden costs associated with these alternative banking solutions.

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Henrik *****

Why not just show tha bankaccount you have in you country of residence.

Not that hard.

2 months ago

Jarek ************

People need to wake up and stick to cash! F the banks and big brother watching....

2 months ago

Anonymous ******************

I agree with what you're saying, but I do admit I find the use of the word "seamless" in the same sentence as "Thai bank account" somewhat amusing

2 months ago

Sefton ********

Really ?? What does this have do with Thai visa rules.

2 months ago

Katja *********

@Sefton *******

individuals who are researching applying for a DTV will have a foreign bank account in the majority of cases. These accounts will accrue charges when used in Thailand so individuals will also be looking at alternative banking arrangements. The OP is warning of the downside to a couple of these alternatives to help those individuals.

2 months ago

Ray *****

@Sefton *******

people have been discussing them in the past. The OP is clarifying the costs and potential downfalls of using them

2 months ago

Reply to

Ray *****

Bernardo *************

399baht is only £10. Id rather pay than deal with thai banks.

2 months ago

Chris *****

ORIGINAL POSTER

@Bernardo ************

It's 399 THB for 30 days only, which amounts to approximately 4,800 THB over a year. But I agree, the simplicity of registering and using it is very convenient, but at some point, they'll need to monetize their service as more and more people start using it, so fees like these could increase or they might introduce more in the future. I just want to give a heads up and probably just recommend getting a normal Thai bank account.

2 months ago

Reply to

Chris *****

What are the practical benefits of having a Thai bank account for expats beyond using QR payments?

38 comments

2 months ago

What recent changes are affecting the process of opening bank accounts in Thailand?

20 comments

2 months ago

What are the best options for banking as a foreigner on a DTV visa in Thailand?

30 comments

3 months ago