Banks, and how to pay for things

CircadianRhythm wrote:

My tickets are booked and I'll be in Chiang Mai from 21 April.  The one question I have though is regarding ATM fees...is it best to rely on ATMs to withdraw cash or do many of you also use credit cards?  I want to avoid as many bank fees as possible.

I will be in Chiang Mai for at least three months, possibly longer.  Would it be worthwhile to open a Thai bank account and transfer funds?

Thank you for your time!

Use ATM's and credit cards. Opening bank account is not realistic for a short term stay.
Not teaching your grandma to suck eggs, but make sure you inform your bank that you will be in Thailand as I have had cards stopped as the bank are unsure as to whether the card has been stolen and used in Asia.

stumpy wrote:

CircadianRhythm wrote:

Use ATM's and credit cards. Opening bank account is not realistic for a short term stay.
Not teaching your grandma to suck eggs, but make sure you inform your bank that you will be in Thailand as I have had cards stopped as the bank are unsure as to whether the card has been stolen and used in Asia.

Yes, I've already been down that road...paying for my accommodation using my PayPal account early one morning.  A few days later, a phone call from their fraud team...<oops>

Thought your initial plan was to come in Chiang Mai to work !!

ATM fees is 150 THB in Thailand plus your bank abroad will charge you a percentage ( check with your local bank but it is very bad like a 3% ) and a bad exchange rate for sure. The percentage is less when you buy stuffs in shop than when you take cash from ATM

If you need THB bring GBP and change it in Thailand you will have better forex than in UK  for sure, I sold my house in UK all the forex trader online propose me a far lower deal for big amount than here in Thailand, from now I transfer directly GBP and use Bank daily exchange rate or negotiate with my banker for amount over 2 M THB.

You can open bank in Thailand even for short stay however you can have fees if you left it dormant with little at the end.

You will find some information regarding bangkok bank, It is the bank I use but there are others banks in Thailand ( I have no share there ah ah ah, just saving account and fixed account ),  :

http://www.bangkokbank.com/BangkokBank/ … ntnew.aspx

If you know a reliable friend in Thailand you can transfer money to his account if you need big amount then he will withdraw for you, but I say somebody RELIABLE, I can explain easy way to do it from UK to THAI in GBP

kris napat wrote:

Thought you were going to work in Chiang Mai !!

I will be working, but my hours will be variable.

In Thailand keep in mind that many things are paid in cash, it is common to pay monthly rent and deposit in cash, water bills, electricity bills, phone bills, TV bills, Internet Bills, I don't have any direct debit as they charge fees for everything, even when you pay in 7/11 they charge a fee,

Cash is the best but keep it in a safe box, everything in cash can be negotiated in the street,... price is so low in market or others places that you need cash every day in your pocket....

Bring the max amount allowed it should be far enough for your 3 months stay ( I think it is 20,000 USD ) without having to declare it at the airport custom....