Emergency Funds In Thailand

[simon43]

I just read a post about Nationwide Flex blocking JimsKnight's ATM card whilst he was in LoS. Other banks may take similar action, citing Thailand as a 'security risk' etc.

Since I'm always as poor as a church mouse, the concept of emergency funds doesn't apply to me

But what would be the most practical way to access emergency funds in LoS if the poo hit the fan? (This question is intended to be purely hypothetical - similar to the 'what you would do in a nuclear strike' type of question...)

Should I conceal a few baht of Thai gold into my belt? Or carry a few $100 bills? Stash some Thai baht in a safety deposit box in BKK perhaps?

It's a slow morning here in Phuket. So please liven things up and tell me what you would do to get access to emergency funds

Simon

[bassmaster50]

This is a serious topic as I myself was cut off here without funds after I lost my US atm card. Now I keep money in accounts at two separate Thai banks in addition to US account. Providing you have someone to send you money, there is always western union.

[luvthailand]

I replied on the ATM thread how I have 4 ATM cards on 4 different accounts and I try to never keep them together. I also have around $300 in traveler's checks for emergency only (they are a couple of years old but are good forever).

Before I left the USA, I gave 2 of my USA relatives detailed instructions on how to Western Union me money along with the address of a local branch. I have a great reputation with my family so them sending me money is not an issue, they know I am good for it.

I travel around the world a lot. If I were a normal expat living in one place, I wouldn't worry about it so much. You can always count on friends for a few bucks in an emergency. And having an account in Thailand is a great plan if you can get one and live here much of the time.

But I do think having some USA dollars lying around is a good backup, also. Also, this is very useful when you are traveling. For instance, when I landed late at night in a smaller airport in Colombia (from Panama) the cash counters were closed and there was not an ATM available (the first time this has ever happened to me). But a few US dollars were fine to get me through to the next morning when I could visit an ATM.

It also does not hurt to have some cash and traveler's checks if networks went down for a few hours or days. Without those connections, you can't access your money.

LuvThailand

[chiang mai]

If you have an HSBC account they will provide you with emergency funding on an interim basis, cash delivered to you if need be and at very short notice. Alternatively, having some back up accounts is useful as is a small stash of cash hidden somewhere.

[kaz49]

I have a Thai Bank Account with ATM card and make sure that has funds in it, also keep THB cash in secure place for emergency. A new Mastercard can be couried to Bangkok, (cost 100AUD) within 72 hours if stolen/lost. (The HSBC mentioned above sounds a better deal)

Use two seperate banks in home country, for internet transfers, one, my sister has access to and set this up with authority forms before I left, requires a fax to branch beforehand, allows her to withdraw/deposit on my behalf. Can also use Western Union if required.

I always tuck away USD note in case its needed when travelling outside of Thailand.  I send an email in advance to home bank to let them know beforehand of countries in Asia I will be travelling too for any length of time. On one trip in Malaysia my bank emailed me to confirm I had made two internet payments with my card in Penang and if no confirmation from me within 24 hours they would have put a block on it.

[jdinasia]

Local account

US account

Credit card ....

if three sources aren't enough there is always the BF or a phone call to friends here or family in the states

[Misplaced]

Since I'm always as poor as a church mouse, the concept of emergency funds doesn't apply to me

Simon

Simon we know better.

ATM, CC, Family and friends but they always complaint how I don't pay them back when I borrowed. How dare they? (kidding)

[rogercw]

I lost my cards once. Looked up the Bank of America contact phone number on the internet and called them. They sent me a new checking card by FedEx. I had it in my hand in Pattaya in about 36 hours. My Mastercard from AT&T didn't take much longer and came via DHL. I never let the cash in my condo drop below the vicinity of 20,000 baht.

[Newbie2008]

I keep a minor stash from frequented countries hidden in my wallet (currently 100 USD, 10,000 Indian Rupees, 500 U.A.E Dirham, 10,000 baht) just to get me out of a jam, along with a more significant amount in my backpack just in case

[BEENTHEREDONETHAT]

The way things are going we plan to keep 4 months living expense cash at home. Also have a few AMEX travelers checks from a couple of years ago.

If our Thai bank were to close it's doors for some reason it would make it difficult to move money here for a while, and we would not have access to our baht in the bank.

Doubt if that will happen but the baht don't earn anything to speak of in the bank so nothing lost by keeping it on hand.

Edited November 29, 2008 by BEENTHEREDONETHAT

[geriatrickid]

This is a serious topic as I myself was cut off here without funds after I lost my US atm card.

That's an all too common event. You cannot rely on the ATMs in Thailand in a crisis.

Bank didn't spit out my 20,000B last month (since fixed) so had used most of my daily limit, and Visa froze my card over that weekend because someone was withdrawing large amounts all of a sudden ( ooops that was me ) so I had to resort to rationing and contemplating hitting the emergency cash hidden in the condo. (Visa's western call center at my bank only functions M-F, which doesn't help me if it's a Friday night.

The lesson I have learnt?

- An additional credit card that I leave with some cash on it if I have to withdraw quickly.

- Increased ATM daily card limit.

- Upped the cash on hand to an amount I won't cry over if stolen, but enough to carry me over and out of Thailand if need be. If the Visa system goes down or my bank system is unavailable as was the case in November, I won't be able to transfer cash onto my cards so that cash on hand will be important.

- Not just baht but some Ringit and Singapore dollars. Enough to pay cabs and bus fare in those countries.

- Always keep my local phone loaded with a minimum 500 baht and my western phone that roams from anywhere charged. The lifelines.

And failing that, there is always the dreaded emergency call, that goes something like this;

Me: Hi Dad, how are you.

Dad: Blah blah blah.

Me: That's nice, so like anyway, I'm in trouble, Help!

Dad: Goddamn bonehead, when I was in the army and we were being over run by blah blah blah, I never had my father to help me blah blah, I told you not to stay in Thailand, but you don't listen you horse's arse blah blah blah, We'll send the money immediately and you had better learn your lesson blah blah blah. And I hope you are not bringing back some woman and her hordes of family as blah blah blah.

[Martian]

If you qualify in Thailand to set up an account and have banking in the USA.....set up an account at Bangkok Bank and link the Bangkok Bank account to your USA bank account by adding it as an "outside account" you can transfer to.

The key is to use your Thailand bank account number BUT use the New York City Bangkok Bank ROUTING number. This makes it a domestic transfer with little or no fees.

I also recommend a Charles Schwab high yield investor checking account which has no fees, minimums etc and at the end of the month refunds any and all ATM charges incurred anywhere in the world (CS doesn't charge ATM fee). You can use your CS debit card in almost any ATM.

Works great!

I also keep about 4 month's expenses in the local Bangkok Bank account for the wife and I.

Regards

Edited January 10, 2009 by Martian

[tb86]

1 us citibank account <emergency relocation fund enough to allow for a comfortable re location>

3 bangkok accounts, my acct <bkk bank>, the wifes acct <kasikorn>, our ltd companies account acct <bkk bank>

1 citibank private portfolio hongkong/singpore

1 saftey depo box bank of new york

1 saftey depo box here in bkk

1 cash and the wifes jewelery at home in the safe

Im kinda paranoid but, would rather have plenty of options just in case

[tb86]

This is a serious topic as I myself was cut off here without funds after I lost my US atm card.

That's an all too common event. You cannot rely on the ATMs in Thailand in a crisis.

Bank didn't spit out my 20,000B last month (since fixed) so had used most of my daily limit, and Visa froze my card over that weekend because someone was withdrawing large amounts all of a sudden ( ooops that was me ) so I had to resort to rationing and contemplating hitting the emergency cash hidden in the condo. (Visa's western call center at my bank only functions M-F, which doesn't help me if it's a Friday night.

The lesson I have learnt?

- An additional credit card that I leave with some cash on it if I have to withdraw quickly.

- Increased ATM daily card limit.

- Upped the cash on hand to an amount I won't cry over if stolen, but enough to carry me over and out of Thailand if need be. If the Visa system goes down or my bank system is unavailable as was the case in November, I won't be able to transfer cash onto my cards so that cash on hand will be important.

- Not just baht but some Ringit and Singapore dollars. Enough to pay cabs and bus fare in those countries.

- Always keep my local phone loaded with a minimum 500 baht and my western phone that roams from anywhere charged. The lifelines.

And failing that, there is always the dreaded emergency call, that goes something like this;

Me: Hi Dad, how are you.

Dad: Blah blah blah.

Me: That's nice, so like anyway, I'm in trouble, Help!

Dad: Goddamn bonehead, when I was in the army and we were being over run by blah blah blah, I never had my father to help me blah blah, I told you not to stay in Thailand, but you don't listen you horse's arse blah blah blah, We'll send the money immediately and you had better learn your lesson blah blah blah. And I hope you are not bringing back some woman and her hordes of family as blah blah blah.

Ha..... dont forget the i told you so.... leaving xxxx job was a bad idea, what in gods name would posses you to go and work for xxxx in a 3rd world country

[samuibeachcomber]

If and when the sh-t hits the fan,thats your thai bank shuts its doors,atm machines close down,and before that happens i would have thai baht stashed under the bed or whereever you consider safe,a credit card for getting a flight out.

to access money from home if the internet has been zapped in cyberspace use western union(they expensive but fast)and you can pick money up within the hour of it being sent at any post office you have nominated to the sender.

If the sattelites that transmit moble phone messages have been blown up and house to house phones disconnected,revert back to plan a,cah under the bed,or plan 2 ,the credit card.