Answered5 months ago
What are the safest alternatives to using a US bank account for expats in Thailand?
Hello everyone. Hope all is well. I currently hold a dtv visa and I’m curious about what international banks are everyone using? I’m still using my US bank but was warned against it. I know we can’t have a traditional Thai bank account. What’s the safest alternative? Thanks for your response.
Answer summary
The discussion revolves around the concerns of expats holding a DTV visa in Thailand regarding the safety and practicality of using US bank accounts versus alternatives. While some members report having no issues with their US banks, others recommend specific banks like Charles Schwab for its ATM fee reimbursement services and suggest using digital wallets like TrueMoney for local transactions. The conversation highlights various banking experiences and recommendations from expats to facilitate financial operations while residing in Thailand.
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Shy ****************
I have Charles Swabb with Wise... I have a card to both & use accordingly. I have other US accounts but these are my international usages
Alan ******
Kept and using my account in the 🇬🇧
Fred ********
@Nina ********
this is a game changer I promise you , download TrueMoneyWallet . It is exactly like a Thai bank . Upload your biometrics passport details etc. for me I transfer money to a Thai bank someone I trust then transfer it into my TruMoney account wallet and can scan everywhere in Thailand and transfers . Try it let me know how you get on . Your welcome
IntelligentG*************
Maybe Wise now. Transition period is now. Open or turn your current wise into Wise Thailand.
Get PromptPay, biz and local. However, it will come with sacrifices for some.
Get PromptPay, biz and local. However, it will come with sacrifices for some.
A. ************
Who warned you against using your US bank account and why?
Stephen **********
I use my US bank with no problems. They only reimburse a certain amount of ATM fees each month so I use 2 checking accounts.
Nina *********
OP@Stephen *********
what US bank do you have? I’m with Wells FargoJames ********
@Nina ********
use Charles Schwab Bank. . they reimburse you monthly for any ATM 🏧 fees you are charged.
GentleTu********
@Ja***
is correct. No limit. They don’t charge a fee. And they reimburse the Thai atm fee. You can go every day and rack up 7500฿ in atm fees and you’ll get a statement credit at the end of the month.
Schwab is the way.
Mercy *********
Not sure why you were warned against it. I used my U.S. bank and no problem
Nina *********
OP@Mercy ********
what US bank to do have? I’m with Wells Fargo.Mercy *********
@Nina ********
BOAElías ********
Warned? Why? How so?
I use my home country bank accounts: they allow me to use both the native Thai QR system, as well as AliPay. If I use the ATMs of the purple bank (SCB), I also get the ATM fee partially refunded in real time by my bank.
I use my home country bank accounts: they allow me to use both the native Thai QR system, as well as AliPay. If I use the ATMs of the purple bank (SCB), I also get the ATM fee partially refunded in real time by my bank.
Nina *********
OP@Elías *******
what US bank do you have?James ********
@Nina ********
use Charles Schwab Bank... they reimburse you monthly for any ATM 🏧 fees charged you for using an ATM 🏧Nina *********
OP@James *******
thank you!Elías ********
@Nina ********
no, I use a South Korean bank.
Chris ******
US Bank account, Revolut and wise as a backup.
Bob **********
Get a Schwab checking there ATM card pays you back all ATM fees
Motivated**********
Is there any issue using us bank account? I’m planning to use mine.
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