I am planning to go to Thailand and want to be able to withdraw cash from ATMs without paying too many fees.
Is there any bank or card that you can recommend?
What Is The Best Cash Withdrawal Solution for Thailand?
sagrules on 18/11/2015 - 21:41
Comments
Depends on where in Thailand. I just got back and there were no Citibank ATMs. It cost me 200baht ($8) to withdraw from the ATMs there.
Once this was established I withdrew the maximum I could and kept the money in my safe.
I would personally bring cash. I found it difficult finding a Citibank ATM when I was in Phuket and Bangkok for 2 weeks back in March. I was charged 275 baht each withdrawal = ~$7 at various ATMs of other banks. This is my experience, and it may differ from others.
Yeah but the downside with Citibank is that they use a SMS secruity code to allow you to do transfers when using internet banking. It drives me nuts when I'm on holidays because my pay comes into my Citibank account. It is a hell of a hassle try to get your banking done.
Download the citibank app on your mobile and configure it to generate OTP. You can then do your banking overseas without roaming on your phone.
Good man. If that works, I will name my first born after you "Obs Stainless".
unless you have Citibank and will be near their ATM take cash.
compare bank exchange rates here: http://bankexchangerates.daytodaydata.net/default.aspx
(change to AUD—>THB, Notes)personally use superich when in BKK (any of the 3 or so companies trading under that name, they all use more or less the same rate).
in non-Bangkok areas I use a bank from the top of the list in link, or scout the money changing booths in tourist areas - some offer rates at the top end of banks, just below superich rates.
It will be travel to non-Bangkok areas
Any tourist area will have lots of choice in money changers.
Yep, I have always used Superrich when I'm in BKK, not as convenirnt to find, but the best rates. there are a couple about a 10 minute walk from Chit Lom BTS that I often use.
I use 28 degrees credit card but a friend used Bp Velocity wallet, both have great exchange rates and low withdrawal fees. Withdraw from 7/11.
Previously I topped up my 28 degrees card with cash and was able to withdraw it without fees. Now they have changed this option and was looking at doing something similar with good exchange rates. Where I can use my 28 degrees card as Credit card I will. But just more interested in not being charged ATM withdrawal fees and conversion fees for cash withdrawal.
For small amounts, just take cash and exchange there. The rates are good. I even reconverted excess baht at a good rate before returning.
What do you consider as a small amount?
I would personally take up to $1000AUD in cash and avoid withdrawing all together but thats just me.
If I need any more then I would make one withdrawal whilst over there.
Something you could withdraw at one go at an ATM, e.g. $500. Since Thailand is so cheap, that will easily cover incidentals for a short holiday.
Also, how long for approval of Citibank card if I were to apply? Can you please provide link to the card i should apply for?
what non-BKK areas are you going to, and for how long, roughly?
are you a frugal traveller or big spending traveler?Going to Phuket, but couldn't find any Citibank ATMs listed on their website in this area.
correct, they are only in BKK.
take as much cash as is safe/feasible depending on your duration, say 1K-2Kchange at banks/booths, use this as the guide for getting a good rate:
https://www.ozbargain.com.au/node/220511#comment-3213379if loading up a card, withdraw in bulk to minimise the ATM fees (fewer withdrawals = fewer fees)
I applied for one 2 weeks before I left on my most recent trip, about a month ago. It was all ready to go with 5 days to spare.
It is called a Citibank Plus Account.
I applied in person at the Townhall shopfront branch. Take 100 points of ID (passport/license/medicare card/other bank cards/bills), last two pay slips and be prepared for them to want to sign you up for a fee-free VISA card as well as the bank account. It took about 10mins then everything came via post & email.Thanks for that information. So its just like a normal savings account rather than credit card like 28 degrees which can be used as both debit and credit card overseas?
The Citibank Plus account is a normal bank account. It comes with a VISA debit card. They also signed me up for a Platinum VISA credit card, no fee for life, but I could have insisted just to get the bank account.
I usually just take cash these days and change at Superrich.
Last year in Phuket we walked the beach of Karon and got a really good rate from a dodgy fella in a box.
worked out that a bank would of been a $60 extra loss.
Best to shop around while you are there
Frequent Thailand traveller here. For Bangkok I use Citibank Plus, for the best exchange rate & fee free. Huge Citibank corner Asoke and Sukhumvit road. For elsewhere in Thailand I take enough cash. With cash you will lose between about 0.25 baht (eg. Superich, Vasu) and 1 baht per dollar. ie 1 - 4 %.
What is Superich?
I find the Bank of Bangkok branches have the keenest rates for notes
JUST open a thai bank account and then transfer free from your citibank plus ACCOUNT INTO IT.
Opening up a Thai bank account is not easy. Requirements include having to prove residency, including either a lease, or ownership documents for your accommodation, and visa.
incorrect.
although last year they got more strict you can pretty much open Kasikorn and Bangkok Bang accounts anywhere, get a thai friend to take you and put their address down (or hotel address) and you'll get debit card and internet bank login straight away.
if they want to see residency you can go to Immigration office and they get you to fill in a form and you just put your hotel address (but not the name of the hotel) and you get a stamped form you can take to the bank along with two pictures of yourself and you get the bank account that way.
all done on visa waiver 30 day on arrival.
Interesting! A mate living there and owns his own condo, had to jump through hoops for Citibank, including needing a written reference from a Thai native.
just use an ATM to withdraw your Baht Simpson
It costs $7 per withdrawal though . .
citibank.