Best money option for short term stay

[Mike E]

I'm currently in Thailand for I'm hoping about 3 months.  This will be my first extended stay here while considering moving here permanantly.  While here, is my best option for access to cash to just take money out of an ATM with my debit card?  I've got access to WorldRemit, Western Union, or Bank transfers.  Any reason to open a bank account for a 3 month stay?  I'll probably be paying for rental stays with cc if I rent through airbnd.

[petermik]

7 hours ago, Mike E said:

I'm currently in Thailand for I'm hoping about 3 months.  This will be my first extended stay here while considering moving here permanantly.  While here, is my best option for access to cash to just take money out of an ATM with my debit card?  I've got access to WorldRemit, Western Union, or Bank transfers.  Any reason to open a bank account for a 3 month stay?  I'll probably be paying for rental stays with cc if I rent through airbnd.

Open a bank account if you can...it will be handy for the future

[bkk6060]

If you plan to return then try a bank account otherwise, ATM works fine.

I doubt you will currently be able to open a bank account under your circumstances.

But call, check around and see. Come back and post your experience.

Good luck.

[ThaIrish Sean]

You can open up Bangkok Bank account in Soi Buakhao, Pattaya very easily. They do insist you take out their insurance (almost like a bribe) but you will get a bank account with online banking and an ATM card. You do not have to have any special visas to do this. Cost my brother 2000 baht last year, but I heard somebody else mention 8,000 baht so not sure how much they're charging for the insurance these days.

[Salerno]

13 minutes ago, ThaIrish Sean said:

They do insist you take out their insurance (almost like a bribe)

 

Given recent arrivals can't get in without US$100K (and possibly an extra covid only policy) surely that scam is dead?

[ronaldo0]

Try open a bank account and send money to it using TransferWise is easiest option I find .

[rwill]

If you have a bank that rebates the fee charged by Thai banks then that is the best way for sure.  Just never accept the exchange rate offered by the ATM.

[scubascuba3]

1 hour ago, ThaIrish Sean said:

You can open up Bangkok Bank account in Soi Buakhao, Pattaya very easily. They do insist you take out their insurance (almost like a bribe) but you will get a bank account with online banking and an ATM card. You do not have to have any special visas to do this. Cost my brother 2000 baht last year, but I heard somebody else mention 8,000 baht so not sure how much they're charging for the insurance these days.

Bangkok Bank 2nd road by Soi 6 or branch at Walking St usually open easy for zero baht. 

 

OP, If your credit card doesn't charge for use abroad you can withdraw at a banks counter, trial and error finding one, I used to take out 100k before switching to Transferwise

[Salerno]

3 minutes ago, scubascuba3 said:

If your credit card doesn't charge for use abroad you can withdraw at a banks counter, trial and error finding one

 

SCB where always good with that for me (unless they physically didn't have the machine in the branch). Hit and miss with the others.

[Solinvictus]

There are resorts all over the place mate..????

[Bigz]

You will be much better off with a thai account + transferwise. It could be challenging to get an account with a tourist visa though. Location matters a lot. I hear it's hard in Bangkok/Pattaya. Much easier to get a bank acc. in Isaan. Was very easy for me 3 years ago(got account from first bank I walked into with a 30 days visa exempt stamp) Today might be way more difficult. 

[Tropposurfer]

21 hours ago, Mike E said:

I'm currently in Thailand for I'm hoping about 3 months.  This will be my first extended stay here while considering moving here permanantly.  While here, is my best option for access to cash to just take money out of an ATM with my debit card?  I've got access to WorldRemit, Western Union, or Bank transfers.  Any reason to open a bank account for a 3 month stay?  I'll probably be paying for rental stays with cc if I rent through airbnd.

One my previous short trips months at times like you (prior to moving to LOS). I used to take out 20 or 30K (teller machine) at time and simply put the larger proportion in my safe and take out what I needed each day/week accrued a $10 - or $12 AUD bank fee. For any supermarket and mall shopping I would often use my debit card (loaded up for the holiday). This kept my bank charges down. 

I'd go get your Thai drivers license if staying for many months - it's easy to do, and makes any official stuff a bit easier if you've got one, least of which is being stopped at random check-points by police. They treat you far better if you have one and learn how to say where you live and where you are going in Thai. 

If you're going to emigrate to LOS later and lease a place, get a letter of residence from IO, go get your drivers license, then arrange a Thai bank account for your visa requirements (if a retirement 400K baht or marriage visa 800K baht), and transfer a larger (maybe years worth of living funds - up to you how much) using TransferWise (far cheaper than any other method I found, and so easy to set up - once you have a Thai bank account) to transfer into from home.

[Peterw42]

15 hours ago, Salerno said:

 

Given recent arrivals can't get in without US$100K (and possibly an extra covid only policy) surely that scam is dead?

The insurance the banks sell is usually accident insurance, not health.

[Mike E]

Thanks for all the suggestions!

[NoshowJones]

18 hours ago, ThaIrish Sean said:

You can open up Bangkok Bank account in Soi Buakhao, Pattaya very easily. They do insist you take out their insurance (almost like a bribe) but you will get a bank account with online banking and an ATM card. You do not have to have any special visas to do this. Cost my brother 2000 baht last year, but I heard somebody else mention 8,000 baht so not sure how much they're charging for the insurance these days.

The insurance is only available under a certain age, maybe 60.

[jomtienisgood]

On 1/23/2021 at 9:22 AM, Mike E said:

I'm currently in Thailand for I'm hoping about 3 months.  This will be my first extended stay here while considering moving here permanantly.  While here, is my best option for access to cash to just take money out of an ATM with my debit card?  I've got access to WorldRemit, Western Union, or Bank transfers.  Any reason to open a bank account for a 3 month stay?  I'll probably be paying for rental stays with cc if I rent through airbnd.

Just spend it all in the bars, if or when they ope up again post-covid.. 

[ThaIrish Sean]

On 24/01/2021 at 3:19 AM, possum1931 said:

The insurance is only available under a certain age, maybe 60.

My brother was 60 when you open the bank account, born in 1960, so not sure possum.

[NoshowJones]

55 minutes ago, ThaIrish Sean said:

My brother was 60 when you open the bank account, born in 1960, so not sure possum.

It could be 65 or 70, but I am sure that Bangkok Bank don't give you that accident (I think it is)insurance once you get too old.

[Chooky]

Im not sure which country you are from or your banking regulations but from Australia being a frequent traveller I have found cash is still king(best exchange rates) but be careful using foreign bank issued cards because with many you will find the Thai ATM charges 200thb and your bank will probably charge a fee and conversion.Try ING Bank debit card with Mastercard, they give VISA rates of exchange which are fairly good and absorb or refund any atm charges so eliminating needs to carry wads of cash unless bargaining..fees do add up my Westpac account charges a International fee a transfer fee and rips me off with exchange rates .I learned 

[Oldie]

On 1/24/2021 at 10:19 AM, possum1931 said:

The insurance is only available under a certain age, maybe 60.

This is not correct. A friend of mine is 85 and got the insurance - or better had to get the insurance to open the account without residence certificate. It is only an insurance for accidents. Without insurance they insisted on a residence certificate. Strange - I know. 

[NoshowJones]

14 minutes ago, Oldie said:

This is not correct. A friend of mine is 85 and got the insurance - or better had to get the insurance to open the account without residence certificate. It is only an insurance for accidents. Without insurance they insisted on a residence certificate. Strange - I know. 

Well this is Thailand and the bosses of just about every bank, IO, amphur, school etc, etc, make up there own rules, bosses change and rules change again leaving everyone confused. Authority in Thailand seems to be a gene thing, like wearing uniforms, making noise.

It is bred into them from their school days, where the kids are treated like little soldiers, hair shaved in boys, level with the ears in girls, like I said. This is Thailand.

[scubascuba3]

38 minutes ago, Oldie said:

This is not correct. A friend of mine is 85 and got the insurance - or better had to get the insurance to open the account without residence certificate. It is only an insurance for accidents. Without insurance they insisted on a residence certificate. Strange - I know. 

Every Personal Accident Insurance I've seen here has age limit of 65, probably if your friend tries to claim it will be denied, which is only a problem if he actually think he's insured 

[Oldie]

36 minutes ago, scubascuba3 said:

Every Personal Accident Insurance I've seen here has age limit of 65, probably if your friend tries to claim it will be denied, which is only a problem if he actually think he's insured 

He has the insurance. In respect of a claim - he used it already last year and they paid. Anyway - they accepted him as customer and therefore the contract is valid. And I was with him when he opened the account and got the insurance. There was no word about an age restriction.