I have a krungsri bank account and i dont like them. I dont have proof but i think theyre taking my money.

Anyways that gave me the idea of unbanking myself with crypto.

I read crypto.com has a debit card, maybe i can buy from bitkub and transfer it to crypto.com, maybe use stablecoins even.

Although ive noticed sellers in thailand dont seem to like debit cards for some reason, but i could get money from the atm. Im not sure if itd be worth it though because i dont know if there is extra atm fees or fees for shopping online. It says no atm fees but thats probably for some countries. Also id have to have some money in the bank account to pay the rent and bills. I thought about asking the home owner if shed acceot crypto but i doubt it.

 

2 hours ago, Peteblank said:

I dont have proof but i think theyre taking my money.

Either your money is disappearing or it's not...which one is it ?

Money dosent' disapper without a reason. find the reason, maybe you are over reacting. Also next step would have been to open account in another bank(maybe kasikorn?). crypto is the last thing to do due to volatility. Even stablecoins can give you big surprises(read about tether usd, just one of many). Please do take care and update us. 

Bank statement?  Are they using invisible ink or complex calculus?  I have 56,876,445 in one of 198 accounts, so I totally understand.  I don’t have time to check everything.   

1 hour ago, tonray said:

Either your money is disappearing or it's not...which one is it ?

It's a virtual currency.  You'll wake up one morning and your money will be virtually gone.

 

Well i dont want to say how much is in my account.

But i checked it in the morning and it said one number then that day i spent an x amount of money , which did show in my statement and then when i checked the amount again it didnt add up.

Edited March 20, 20224 yr by Peteblank

2 minutes ago, Peteblank said:

Well i dont want to say how much is in my account.

But i checked it in the morning and it said one number then that day i spent an x amount of money , which did show in my statement and then when i checked the amount again it didnt add up.

Check your transaction logs or statements....has to show how they arrived at that balance.

crypto dot com is a bullhit with idiotic limits, they want you to deposit a huge sum in advance to be able to withdraw a whopping 500 USD/day.

and most "crypto" debit cards are the same btw.

I used Binance card while in Europe. It was very good for purchases in EUR, but for THB there would be fees. In any case, it is not yet available if you're resident in Thailand, but keep an eye out.

 

As for paying your rent, why not ask your landlady if she accepts crypto.

 

To take a step in the direction of unbanking, check out Ledger or Trezor private wallets - no KYC, no selfies, no sending your passport photo, no random monthly fees. Atomic Wallet (free) is another option that's been around for years, albeit less secure.

4 hours ago, Jerno said:

It's a virtual currency.  You'll wake up one morning and your money will be virtually gone.

 

nonsense

good idea mate, I have a crypto.com and love it to bits. unfortunately they can't send cards to Thailand because of regulatory reasons. most likely because the Thai government doesn't like the idea of being so easily able to spend one's crypto profits.

You will need a home currency account and since you’re in Thailand you’ll need an thai Baht account for your day to day living expenses

Don’t think foreign ATM cards don’t charge fees they do

 

Stick to Thai banks for Monthly-daliy living expenses

 

As for savings and investments its UP 2 U

3 hours ago, Peteblank said:

Well i dont want to say how much is in my account.

But i checked it in the morning and it said one number then that day i spent an x amount of money , which did show in my statement and then when i checked the amount again it didnt add up.

Atm skimming?  Used to be rampant when I lived in Phuket a decade or so ago (and their were lots of Russians).

6 hours ago, BackstreetBoys said:

Money dosent' disapper without a reason. find the reason, maybe you are over reacting. Also next step would have been to open account in another bank(maybe kasikorn?). crypto is the last thing to do due to volatility. Even stablecoins can give you big surprises(read about tether usd, just one of many). Please do take care and update us. 

Tether FUD is sooooooo 2021.

All of the minor fees they charge here are a bit annoying (mostly because they aren't clearly described unless you dig into your statements or ask your bank).  Krungsri I believe charges you 19 Baht a month for the 'service' of them notifying you when you have account activity.  Some ATM transactions are charged after a certain point.... some transfers are charged if certain conditions are met, etc.      

 

Just get a bank account in a country with real banking standards like Singapore and use it to feed your Thai 'expense' bank account(s).   There's only ONE fee I ever see in my SG accounts and that's when I do a SWIFT transaction.

Edited March 21, 20224 yr by Heng

On 3/20/2022 at 8:18 AM, Jerno said:

It's a virtual currency.  You'll wake up one morning and your money will be virtually gone.

 

On the other hand, he'll wake one morning and find himself a crypto millionaire as long as he doesn't panic and sell everything in times of high volatility. 

On 3/20/2022 at 1:08 PM, Lemsta69 said:

good idea mate, I have a crypto.com and love it to bits. unfortunately they can't send cards to Thailand because of regulatory reasons. most likely because the Thai government doesn't like the idea of being so easily able to spend one's crypto profits.

Oh, part of the idea was getting a crypto debit card so I'd have to rely less on the bank. Oh well, still, thank you for the information.

On 3/20/2022 at 4:21 AM, Peteblank said:

I dont have proof but i think theyre taking my money

If you can't handle fiat at normal bank account, you should not even think about crypto currency ????

9 minutes ago, CH1961 said:

If you can't handle fiat at normal bank account, you should not even think about crypto currency ????

This. 
 

 

What OP writes is nonsense, both the alleged disappearing of money as well as the “unbanking with crypto”. 

Retarded.

6 hours ago, Heng said:

All of the minor fees they charge here are a bit annoying (mostly because they aren't clearly described unless you dig into your statements or ask your bank).  Krungsri I believe charges you 19 Baht a month for the 'service' of them notifying you when you have account activity.  Some ATM transactions are charged after a certain point.... some transfers are charged if certain conditions are met, etc.      

 

Just get a bank account in a country with real banking standards like Singapore and use it to feed your Thai 'expense' bank account(s).   There's only ONE fee I ever see in my SG accounts and that's when I do a SWIFT transaction.

can one open an SG bank account from Thailand these days? if so which back because I thought you had to be an SG resident.

12 minutes ago, Jenkins9039 said:

Retarded.

are you sore because you didn't buy BTC when it was a dollar? ????

Unbanked = Unhinged

32 minutes ago, Peteblank said:

Oh, part of the idea was getting a crypto debit card so I'd have to rely less on the bank. Oh well, still, thank you for the information.

crypto.com have pretty savage fees too. plus they don't clearly state a lot of the fees upfront. eg. the "no ATM fees" is only at their end so doesn't include local operator fees and is only up to a very small limit per month. after that limit they chuck on a 2% fee.

 

topping up the card with crypto is also expensive. they claim no fees but they don't support limit trades for top-ups and the spread on their "vortex" system is atrocious. 

 

crypto is still very much the Wild West at the moment, hence a lot of the FUD from the crybabies ????

@Peteblank if you want to unbank your money, then i highly suggest you take a look at Nexo wallet.  *Link edited out*

Not only will you be able more interest that you will ever with a normal bank, but you will also be able to borrow money much easier and better pay back rates. 

 

If you are worried about crypto being unstable, then simply put your money in stable coins like USDT which always stay same as the US $

Edited March 22, 20224 yr by Scott
Link edited out

Just open an account at Kasikorn or some other retail bank ????

Edited March 21, 20224 yr by ukrules

On 3/20/2022 at 4:21 AM, Peteblank said:

I thought about

Think again!

Most the people here replied to the reason you are considering a crypto currency account, rather than providing the advice you asked for.  I'll address both, but they are right in my opinion.  I don't think a crypto currency account/wallet is the answer to your problem.  While I am an advocate of cryptocurrency, I don't advocate it for daily spending.  It's more complicated to manage, rate volatility, speed, and depending what exchange and wallet you use, it could be less safe than your bank.  I agree with many posters here that it is best to get to the bottom of what is causing you bank money to disappear.  Go into a branch and ask them to help you.  It will likely be easier to discover the cause and fix it then it will be to switch to cryptocurrency for daily spending. Having said that, by all means, open a cryptocurrency account and learn!

On 3/20/2022 at 4:21 AM, Peteblank said:

I have a krungsri bank account and i dont like them. I dont have proof but i think theyre taking my money.

Anyways that gave me the idea of unbanking myself with crypto.

Don't take this the wrong way, but here comes: As you cannot even tell with certainty if your bank is stealing money from you or not, what hope do you have to keep your crypto wallets safe and secure? I'd say none whatsoever.

2 hours ago, Lemsta69 said:

are you sore because you didn't buy BTC when it was a dollar? ????

I bought it below a dollar.