Banking & Money in Thailand: Everything Expats Need to Know
Managing your money in Thailand is easier than most people expect — once you know the system. From opening a Thai bank account to avoiding ATM fees, here is what you need to know to keep more of your money in your pocket.
Opening a Thai Bank Account
Having a local bank account makes daily life significantly easier. You can pay rent, set up utilities, use PromptPay, and avoid constant ATM fees. The most expat-friendly banks in Thailand are Kasikorn Bank (KBank), Bangkok Bank, and SCB.
To open an account you will typically need:
Your passport
A valid visa with sufficient time remaining
Proof of address such as a rental agreement or utility bill
Some branches require a letter from your embassy
Requirements vary by branch and bank so it is always worth calling ahead. Some branches in expat-heavy areas like Sukhumvit in Bangkok are more accustomed to opening accounts for foreigners and have English-speaking staff.
Using Wise in Thailand
Wise is one of the most popular tools among expats for transferring money into Thailand. It offers real mid-market exchange rates with low transparent fees — far better than traditional bank wire transfers. You can send money directly to your Thai bank account or use a Wise debit card for everyday spending.
Sign up for Wise using our referral link and get your first transfer free:Wise Signup.
ATM Fees
Thai ATMs charge a flat fee of 220 THB per withdrawal for foreign cards. This adds up fast if you are withdrawing small amounts frequently. The strategy most expats use is to withdraw the maximum amount allowed per transaction to minimize how often you pay the fee. Check with your home bank as some accounts reimburse foreign ATM fees.
PromptPay
PromptPay is Thailand's national instant payment system and it is used everywhere. Once your Thai bank account is set up and linked to your Thai phone number or ID number, you can send and receive payments instantly with just a phone number. Most landlords, local businesses, and individuals use it daily.
Currency and Cash
Thailand is still largely a cash society outside of major shopping malls and international restaurants. Always keep cash on hand, especially for street food, markets, tuk tuks, and smaller local shops. The Thai Baht (THB) is stable and widely accepted — there is no need to bring large amounts of foreign currency with you.
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