spending in Thailand

booler

It's not actually. The OP is just going on holiday. We are supposed to be advising the OP.

booler

Let's hope we can get back to offering the OP the advice he requested.

NiftyDigits

socrates wrote: »

This thread was about someone who visits regularly - it is obvious that it is not for someone who goes for a few weeks

Regular small amounts? Do you think that is a good idea and cost effective?
Of course it makes more sense if it's about sponsorship. Even then it's not necessarily the best way. Don't blindly defend an idea if it isn't good.

And you are wrong, the thread was not about someone who visits regularly.

The person who opened the account is not the OP. He only stays for six weeks anyway and mainly on Samui.

He states Bangkok, Pattaya and mainly Samui and that he also takes cash. So absolutely no need to waste thousands of baht on a K Bank account when AEON machines are at relatively close quarters.
He's already wasted £55 on a Thai bank account and will cough up perhaps £9.50 in the UK and perhaps up to £11(depending on the amount sent) at K Bank each transfer.

Using the local AEON ATMs in conjunction with cash and any of the best choice cards would have kept his costs considerably below this.
Let's hope that he didn't act on your advice.


The OP already has his advice. We've moved on to the hijackers.

NiftyDigits

NiftyDigits wrote: »

Yes, have exchanged TCs all over Thailand. America Express usually.Takes a few minutes. You just take your passport with you when you go to exchange.
Exactly the same when you wish to make a withdrawal over the counter. Passport needed there too. No big deal.

What has Bangkok got to with it? Did I mention Bangkok only?

If I have cash I lock it in my luggage. Hotel safe is just your conjecture. It's not a huge amount of cash, but useful if there is not a AEON ATM nearby.



You still have to pay to exchange your cash in to Thai baht in the first place, so what is the point for your average tourist/traveller?
Surely the average tourist will be travelling around?? So they will have to pay a withdrawal charge in most cases too.

An almost pointless exercise for those who aren't staying in one place on a long term basis.

So, again I reiterate; forget about a local bank account for the average holidaymaker, it is just silly.
What happens to left over cash? What happens when your money goes missing and you have to deal with a local Thai branch instead of a UK bank?

What is the advantage over simply taking a top mainstream card into a branch, therefore saving having to pay the 150 baht charge?

This is what I meant: Phuket German expat loses B600k to skimmers

socrates

NiftyDigits wrote: »

This is what I meant: Phuket German expat loses B600k to skimmers

Who leaves the withdrawal limit @ 200k per day

You can actually set you daily withdrawal limit for ATM's

You can also set your daily online and in store spending limit as well

Supposedly a 3rd world country and I have never been offered this service in UK

And after watching WatchDog the other day on TV - UK banks do not seem to pay out on every one of these ghost withdrawals either

I still agree with a lot of what you say BUT for every example you give there is a counter example

I have said all along a combination of the options given is best - however for a regular traveller to Thailand the bank account still makes sense

NiftyDigits

socrates wrote: »

Who leaves the withdrawal limit @ 200k per day

You can actually set you daily withdrawal limit for ATM's

You can also set your daily online and in store spending limit as well

Supposedly a 3rd world country and I have never been offered this service in UK

And after watching WatchDog the other day on TV - UK banks do not seem to pay out on every one of these ghost withdrawals either

I still agree with a lot of what you say BUT for every example you give there is a counter example

I have said all along a combination of the options given is best - however for a regular traveller to Thailand the bank account still makes sense

Can you give me a single example of someone getting their money back in Thailand, with the 'K' bank?
The fact is that UK banks will pay out with proof. I know, as it's happened to me a few times.
But reading the thread that I have posted, just that alone should alert you.
That is not the only thread, just the latest.
But you prefer to insist. Most holidaymakers won't bother with all of the precautions listed there, so will be more likely to fall victim to fraud.
I'm a regular traveller, but no Thai bank account for me. If I did, there would be little to no cash in any account linked to an ATM card.
Be careful out there.

socrates

NiftyDigits wrote: »

Can you give me a single example of someone getting their money back in Thailand, with the 'K' bank?
The fact is that UK banks will pay out with proof. I know, as it's happened to me a few times.
But reading the thread that I have posted, just that alone should alert you.
That is not the only thread, just the latest.
But you prefer to insist. Most holidaymakers won't bother with all of the precautions listed there, so will be more likely to fall victim to fraud.
Be careful out there.

I prefer to insist just like you do - and stories of people losing their money at an ATM in Thailand with whichever bank and getting it back do not make the news - as its a non story

I insist this - someone who travels to Thailand on a regular basis adapts to the way things run there in terms of banks and utilises their account to its maximum

NiftyDigits

socrates wrote: »

I prefer to insist just like you do - and stories of people losing their money at an ATM in Thailand with whichever bank and getting it back do not make the news - as its a non story

I insist this - someone who travels to Thailand on a regular basis adapts to the way things run there in terms of banks and utilises their account to its maximum

Considering that it probably the most popular forum for Expats, I would suggest that people who got their money back would have posted their experiences there. It runs to at least six pages now, with the general consensus that 'K' bank is the worst...

Secondly, I've been travelling the region for more than twenty years. I know how things are run there...and I don't have a Thai bank account.
I considered it, as a hedge fund when the Thai Baht was 91 baht to the Pound.
But as long as there are adequate products that deliver the full 'wholesale spending rate' to me whilst abroad, I have no need for such an animal.

So you can insist, but I would urge people to take care and to looks at the facts before proceeding.

socrates

NiftyDigits wrote: »

Considering that it probably the most popular forum for Expats, I would suggest that people who got their money back would have posted their experiences there. It runs to at least six pages now, with the general consensus that 'K' bank is the worst...

Secondly, I've been travelling the region for more than twenty years. I know how things are run there...and I don't have a Thai bank account.
I considered it, as a hedge fund when the Thai Baht was 91 baht to the Pound.
But as long as there are adequate products that deliver the full 'wholesale spending rate' to me whilst abroad, I have no need for such an animal.

So you can insist, but I would urge people to take care and to looks at the facts before proceeding.

I bow down to your omnipotence

booler

NiftyDigits wrote: »

The fact is that UK banks will pay out with proof. I know, as it's happened to me a few times.

A "few" times? You must be desperately unlucky. I hardly know a soul that that has happened to on even a single occasion. If I were you I would be looking at my banking practises.