Guide

Money and Banking in Bangkok

How to manage your money in Thailand, from landing with cash to opening a local bank account.

Cash vs Card

→ Thailand is still heavily cash-based. Street food, markets, small restaurants, and taxis all expect cash.
→ Most malls, supermarkets, and mid-range restaurants accept card. Anything tourist-facing usually does too.
→ Carry 1,000 to 2,000 THB on you at all times. Running out of cash in Bangkok is annoying, not dangerous, but still inconvenient.
→ Keep small bills. 1,000 THB notes are fine for 7-Eleven but useless at a street stall where change is scarce.

→ Thailand has a national QR payment system called PromptPay, operated by the Bank of Thailand. Most vendors have a QR code you scan to pay directly from your Thai bank account.
→ You cannot use PromptPay without a Thai bank account. It is not compatible with foreign apps like Wise or Revolut.
→ Once you have a Thai bank account, PromptPay is the fastest way to pay anywhere that accepts it.

→ Wise is the best card for spending in Thailand. It converts at the real exchange rate with minimal fees.
→ Revolut is a solid backup. Set it to auto-convert to THB and you get competitive rates.
→ Avoid cards that charge foreign transaction fees (usually 1.5 to 3%). Over a year this adds up significantly.
→ Charles Schwab (US) refunds all ATM fees worldwide and has no foreign transaction fees. Worth opening before you leave if you are American.
→ Do not use credit cards for ATM withdrawals in Thailand. The cash advance fees and interest are brutal.

→ Open a Wise account before you leave home. It gives you local bank details in multiple currencies, essential for receiving client payments.
→ Wise converts at the mid-market rate and charges a small transparent fee, usually 0.4 to 1% depending on the currency.
→ You can hold THB in Wise and spend it with the Wise card, avoiding conversion fees on every transaction.
→ Wise transfers to Thai bank accounts usually arrive within a few hours, sometimes instantly.
→ Wise is not a bank, so do not use it as your only account. Use it alongside a local Thai account.

→ Every Thai ATM charges foreigners a 220 THB flat fee per withdrawal, regardless of amount. This is regulated by the Bank of Thailand.
→ To minimize fees, withdraw large amounts less frequently rather than small amounts often.
→ Aeon Bank ATMs sometimes charge less. Some airport ATMs charge more. Check before you insert your card.
→ If your home bank reimburses ATM fees (like Charles Schwab), this problem disappears entirely.

→ Kasikorn Bank (KBank) and Bangkok Bank are the most foreigner-friendly. KBank is generally easier.
→ You need your passport and a valid visa (not a visa exemption stamp in most cases).
→ Some branches are more foreigner-friendly than others. Branches near expat areas or in malls tend to have English-speaking staff.
→ Once you have an account, download the mobile app immediately. KBank works well for transfers, PromptPay, and bill payments.
→ Getting a Thai debit card issued takes about a week. Ask for it at the time of opening.

→ Revolut and Wise both work in Thailand as spending cards. Neither replaces a local bank account for PromptPay or direct debit.
→ Monzo does not work well outside the UK for extended stays. Do not rely on it as your primary card.
→ N26 is EU-only and cannot be used in Thailand.
→ For receiving freelance income, Wise is the most practical option for most nationalities.