Pick An Option To Transfer Money To Thailand After You Move
Thailand has its own currency, called the baht
. $1 USD equals about 33.177 baht, but this rate changes daily so check it before you transfer money to Thailand. Clearly, you will need to exchange your U.S. dollars to Thai baht at some point, and often it is best to do so before you even arrive in your new home. You can bring in cash and exchange it at the airport, but if you arrive late at night, the exchange desk could be closed. Additionally, you will likely not get the best rate at this location. Finally, traveling with all your cash is not safe for obvious reasons. If you have a lot of money that you need to send to your new home country, there are a few options that are inexpensive and secure.
If you like using debit cards in the United States, Thailand offers you that same courtesy. Since this country is one of the most popular Asian tourist destinations, there are ATMs widely available. In particular, the islands of Ko Samui, Ko Tao, Ko Chang, Ko Pha Ngan, Phuket and Ko Phi Phi are all known for having plenty of ATMs. This means that a prepaid debit card could work for you. It costs $5 to add funds, and you can add up to $1000 per day for that amount. You may choose to use it as you would any debit card, or you can withdraw cash and put it in your new bank account for a fee of less than 50 baht each time.
You may choose to transport your money this way and then send it to your new bank, or you can pay fees to send money from your old bank to the new one. Either way, you will need to open a bank account. Most banks require that you have a work permit or any type of long term visa, while others want to see only a passport and proof of Thai address. This means that you should wait until you move to apply for an account. However, until then, you can certainly use your prepaid debit card to pay for daily expenses or get cash out when you need it.
You will find that some banks allow you to open an account with little paperwork, while others insist on plenty of it. You will have plenty of choices, though, so try another bank if one does not allow you to open an account. The same goes for your other options. These are just a few of the more popular ways to transfer money to Thailand so that you have money available in baht just after you arrive, but be sure to use the ones that suit you best.
by: Peter Frampton
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