Banking & Money

Managing your money well is one of the more practical challenges of life as an expat in Thailand. The good news: opening a Thai bank account is reasonably straightforward, international transfers have become easier with services like Wise, and ATMs are widely available throughout Hua Hin.

Opening a Thai Bank Account

Most long-stay expats open a Thai bank account early on. It is required for the retirement visa financial requirement, makes paying rent easier, and avoids ongoing ATM fees.

The documentation required varies by bank but typically includes:

Passport (original)
Current Thai visa
Proof of address in Thailand (rental contract, TM30)
Some banks require a letter from your embassy or an initial deposit of 5,000 to 20,000 THB

Which Bank?

The main banks used by expats in Hua Hin are:

Bangkok Bank: Most foreigner-friendly, widely recommended by the expat community. Good international transfer infrastructure. English online banking available.
Kasikorn Bank (KBank): Good app and online banking. Used by many expats. Straightforward account opening process.
SCB (Siam Commercial Bank): Large network. Competitive services.
Krungthai Bank (KTB): Government-owned, large network, sometimes required for visa-related financial proof.

See our Banks & ATMs directory for branch locations in Hua Hin.

International Money Transfers

Transferring money from abroad is a regular need for most expats. Bank-to-bank international transfers typically cost 200 to 500 THB per transfer plus unfavourable exchange rates. Wise (formerly TransferWise) offers significantly better rates and lower fees. For a transfer of GBP 1,000 to 5,000, Wise typically saves 500 to 2,000 THB compared to a bank transfer.

See our Money Transfers guide for a detailed comparison.

ATMs

ATMs are widespread in central Hua Hin. All major Thai banks charge a 220 THB fee per international card withdrawal (this is a Thai bank fee charged regardless of your home bank). To minimise fees, withdraw larger amounts less frequently. Some UK bank accounts (Starling, Monzo) and some international accounts reimburse ATM fees, check your card terms.

Currency Exchange

The Thai baht (THB) is the local currency. Exchange rates vary between outlets:

Banks offer less competitive rates
Licensed exchange booths (SuperRich and similar) offer better rates
Airport exchange booths offer the worst rates, avoid exchanging large amounts there

Retirement Visa Financial Requirement

For the Non-OA retirement visa. You need 800,000 THB in a Thai bank account for at least 2 months before applying, and the balance must remain above 800,000 THB for the duration of the visa year. This means the funds are effectively tied up. Some expats use income evidence instead (65,000 THB/month) or a combination. See the Visa & Immigration guide for full requirements.