Transferwise Mastercard

[raphoedon]

Hi, on my last trip to Hua Hin in February I successfully opened a bank account with the Bangkok Bank which wasn't easy on a tourist visa.
Having this bank account now I have transferred the required amount of money for my upcoming stay in August in order to avoid carrying the copious amounts of cash I used to do.
Transferwise also have a MasterCard debit card does anyone have experience of using one of these I'm fully aware of the charges from transferwise but what about using it in the ATMs? Any help would be appreciated.
I hope you're having a great day.

[STEVE G]

Transferwise also have a MasterCard debit card does anyone have experience of using one of these I'm fully aware of the charges from transferwise but what about using it in the ATMs?

I've had one for some time now and it works like any other MasterCard with the advantage that you can do transactions in local currency without any additional charges and a better exchange rate. I've used mine online quite a bit and I use it when travelling to make purchases at transit stops but I've never had to use it in a Thai ATM as I have a local account. I'm back in town next week and if I remember, I'll give it a try as it would be handy to know if it can be used as a reserve.

[moater]

TW's card will work fine in ATMs, but you will be charged the ATM fee (220) and after the first €200 withdrawn you will also be charged an extra 2% by TW.

Note that TW cards use the TW rates to convert between currencies. That means you're paying around 0.35-0.5% in fees every time you pay or withdraw. You are much better off with a "normal" 0% fees card that uses the card company rate. Those are typically 0.1% or less off the mid-market rate.

[PJG]

Having the account in Thailand with funds for your trip is a good idea. However, bear in mind that that Thai Immigration are now clamping down on multi use of tourist visas and in some cases refusing entry if not in possession of B20000 in cash.

Maybe does not apply but worth thinking about.

[raphoedon]

Thanks Moater, at 220 bht per transaction I will keep it for Emergencies.

[raphoedon]

Thanks PJG, with the new visa on line application the immigration dept should already have the evidence and the entry at Survanabhumi should be through the new electronic barrier

[raphoedon]

Thanks for the feedback Steve G, much appreciated.

[raphoedon]

Thanks Moater, at 220 bht per transaction I will keep it for Emergencies.