ewallet suggestions?

[mohinga]

I don't know if this is the right forum... I looked for a "finance" thread; but couldn't find one.

It's been many years since I've been in Thailand, even though I have been living nearby in Malaysia. Covid...!
I'm thinking of maybe visiting when, and if, the covid restrictions are lifted. I would like to know if there is an ewallet that I, as a tourist, might be able to use for daily expenses. I don't have a credit card, and carrying MYR cash is not practical since the exchange rate is very poor. I do have a CIMB bank account in Malaysia, and I think I could get a good rate at their ATM's in Thailand... but they are not everywhere.
So if there was an ewallet that I could somehow load up that would be a good alternative. Otherwise I would have to change MYR for USD here, and carry a lot of cash. Years (decades) ago I used to be comfortable travelling in the Land of Smiles with a money-belt full of cash; but I'm older now.
A few years ago I saw a YouTube video on (I think it was called something like) "Satang Pro" ewallet. It used a cryptocurrency called Firo. I assume this died out; but something like it would suit me. e.g. an ewallet that could be loaded with BTC. This will be happening with Lightning network over the next few years in some countries; but maybe not so soon in Thailand.
The ideal would be if there were an ewallet that was used in both countries so I could load it with ringgit and spend baht. But too soon for that I guess...
Any suggestions?

[Peterw42]

TrueMoney Wallet , or Rabbit Line Pay.

App on your phone, pay by scanning QR code, can top up at 7/11

Rabbit is an addon to LINE app that all Thais use for messaging.

[mohinga]

So I would need a Thai bank account to top it up? Or use cash (baht) at a 7-11? I see that TrueMoney works in some SE Asian countries; but not Malaysia. The problem with ringgit is that one can only get a halfway decent exchange rate at the border. Elswhere it's a big ripoff.

[Sparktrader]

Use a debit card

[mohinga]

You mean a Malaysian bank debit card? Would that work for hotels etc? Or do you mean top up an ewallet with a Malaysian bank card. Or do I have to open a Thai bank account?

[Sparktrader]

Most debit cards work worldwide. They have for like 20 years. As long as they are linked to visa or mastercard.

 

Otherwise set up google pay.

[scubascuba3]

15 minutes ago, Sparktrader said:

Use a debit card

Not great, most debit cards charge circ 2% commission

[mohinga]

2% commission is not a big deal compared to extremely poor exchange rate for physical cash MYR/THB at exchanges. I think the solution I'm looking for is still in the future. So I will see what CIMB can offer me. I could make trips to their ATM's and draw baht at a good rate of exchange, and (I think) no fee. Too bad they don't have a branch in Hua Hin where I'm hoping to stay. Could be that their debit card might also work for hotels.

[Sparktrader]

1 minute ago, mohinga said:

2% commission is not a big deal compared to extremely poor exchange rate for physical cash MYR/THB at exchanges. I think the solution I'm looking for is still in the future. So I will see what CIMB can offer me. I could make trips to their ATM's and draw baht at a good rate of exchange, and (I think) no fee. Too bad they don't have a branch in Hua Hin where I'm hoping to stay. Could be that their debit card might also work for hotels.

Does the card have visa or mastercard written on it? If yes its good

[Sparktrader]

https://swipe.io/

 

Crypto

Visa

Cash

[CartagenaWarlock]

If staying for longtime (at least 6 months in a year) in Thailand, it is prudent to open a Thai bank account and transfer money from foreign bank to Thaibank using Wise. 

[xastunts]

I suggest you open a bank account at UOB BANK (united over seas bank). It's a Singaporean bank, and they do have branches in Malaysia as well. Once you have that bank account, you do not need to apply for an ATM card unless you want to have that option, although I suggest you do take the ATM card (debit VISA/MASTERCARD) as it works everywhere in the world. You can later install the UOB banking app on your smart phone and pay with QR code almost everywhere in Thailand. If you like the idea to have a True Wallet (application not in ENGLISH) I'm sure that some thai girlfriend can help you install that =). I think it works both for a Thai, or Foreign citizen. I do not recommend the hassle and benefits of using True wallet. When I go to 7/11, I can pay with their own pre-payed cards, just tap and pay cards. Hope I saved you from a few unnecessary bank visits. /Regards Dave.

[mohinga]

Thanks, I'll check it out. UOB has a branch in my town. Having an app that is widely accepted in Thailnd is basically what I am looking for. I will also see if CIMB has such an app. Since I am already set up with them it might be easier. The past few years Malaysian banks have made it more difficult to open accounts... even for Malaysians.

[Sparktrader]

Virgin Money easy to open online. Can link to google pay.

[lkn]

4 hours ago, scubascuba3 said:

Not great, most debit cards charge circ 2% commission

If I do MYR → THB via Wise, it’s 1.13% above Google’s rate. So I think regardless of what OP does, they will pay 1-2% in overhead.

 

I would get the Wise debit card and add it to my phone (Apple or Google Pay). It should be available in Malaysia.

 

Though bring the physical card as well to use with an ATM to get cash (for those shops that does not support contactless payments).

Edited April 15, 2022 by lkn

[Sparktrader]

20 minutes ago, lkn said:

If I do MYR → THB via Wise, it’s 1.13% above Google’s rate. So I think regardless of what OP does, they will pay 1-2% in overhead.

 

I would get the Wise debit card and add it my phone (Apple or Google Pay). It should be available in Malaysia.

Looks good idea

Edited April 15, 2022 by Sparktrader

[Sparktrader]

Na

Edited April 15, 2022 by Sparktrader

[allane]

16 hours ago, scubascuba3 said:

Not great, most debit cards charge circ 2% commission

Anyone who can't handle a 2 - 3% credit card charge shouldn't be contemplating a foreign vacation.

[Liverpool Lou]

15 hours ago, Sparktrader said:

Virgin Money easy to open online. 

For UK residents!

[Sparktrader]

22 minutes ago, Liverpool Lou said:

For UK residents!

Overseas as well

[Liverpool Lou]

11 minutes ago, Sparktrader said:

34 minutes ago, Liverpool Lou said:

For UK residents!

Overseas as well

Really?   Which Virgin Money accounts are available for non-UK residents?

[Sparktrader]

Oz

 

 

[scubascuba3]

1 hour ago, allane said:

Anyone who can't handle a 2 - 3% credit card charge shouldn't be contemplating a foreign vacation.

Usually only noobs who have little knowledge use a card with those type of charge

[Sparktrader]

Wise is worldwide though it seems

[Sparktrader]

Just now, scubascuba3 said:

Usually only noobs who have little knowledge use a card with those type of charge

2% on $2000 is $40.