# $$$ Looking for the best way to get money



## STEVOH (Jan 9, 2014)

I am trying to research the best way for me to get my money in Thai Baht utilizing a credit/debit card.
I have applied for an extended stay retirement Visa for Thailand and will need to have a cost effective way to get money.
Most cards I have talked to (Amex, Visa, Chase etc.) all charge a fee of around 3% for every ATM use. Some offer to not charge a foreign transaction fee which is good, but the yearly fee's (AMEX $495.00) means that I will need to withdraw a total of $16,500.00 to break even.

In short, I want a card that I can use in Thailand and the rest of SE Asia that does not charge a fee for using an ATM if one even exists.

What is the best way to do this......will I just need to open a banking account in Thailand?

What are others doing and how do they get their money cheaply?

Thanks,

Stevo


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## Newforestcat (Mar 14, 2012)

You can open a USD bank account at any main branch of Thai banks, in major provinces. But you have to work out the costs of transfers from the USA to the Thai bank, plus the charge at this end. Also, I am not sure if you can actually open such bank account in Thailand, based on the type of visa you have. It is worth asking! All I can say is that, for normal amounts of money, exchange rates are better in Thailand, based on my experience!

In the UK, even without bank account with the Bangkok Bank's London branch, you can use the transfer service, as long as you have a UK bank account. So, in theory, this could be also the case in the USA; a transfer in USD from Bangkok Bank's New York branch to a Thai branch may be cheaper, but is likely the quickest.

In the UK, we have many options re credit and debit cards, so it is easier for us.


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## Mweiga (Sep 24, 2010)

In my early days out here used to get cash from ATMs using Mastercard / Visa cards but always charged a couple of percent. Also interbank telecom communication was often down meaning card wouldn't work which was a pain when you needed cash in a hurry.

For the past several years now get money transferred from my UK account to Thai account very easily - normally takes three days for cash to arrive in Thai account (SCB) from transfer instructions , and since last year there are zero charges from the UK bank side.


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