EMIs for relocating to Thailand

[Dasboot]

What would be the best EMIs that are OK with me relocating to Thailand? This is NOT for a corporation, private use only and all funding will be done from my existing accounts in Europe.

So far I have accounts with N26, Wirex, Transferwise and Advcash - also Revolut, but will stop using them.

I plan on simply using N26 as a backup and hopefully safe haven for reserves, but will need to change my address for at least 1-2 of the others to my real location in Thailand.

The Advcash account has so far only got less than 100 USD transferred with Bitcoin, Transferwise has been used to withdraw cash here in Thailand funded by my cards from banks in Norway.

Nothing to hide here, no need to pull any tricks - I just do NOT want to end up with a nightmare of blocked accounts or anything else.

Any other EMIs that could work well with Thailand?

Also I've got a work permit that expires in January next year, so signing up using that could perhaps be a good thing - even an ordinary bank basically anywhere is interesting.

I do have 3 accounts here locally, but prefer to keep those separate. But I guess documents from these could also be used to prove residency here if necessary.

 

[nomad999]

Transferwise, Advcash and Wirex will allow KYC with a Thailand residency if I am not mistaken, unfortunately they don't allow debit card in countries in South East Asia ... I am guessing they needs a banking license or to comply with some crazy regulations in each country to issue Visa/MC debit card, only resident of Singapore can as far as I know. Not sure what's going on there, if anyone know please share!

I think N26 are rather strict with KYC so I suggest to keep Revolut in case. for instance Revolut asks me to confirm my old residence in Europe and I just had to answer yes without providing any proof. Will stop using them as much now that they are out of the UK and relocated inside Europe though ...

If anyone know an EMI that can issue Visa/MC card in SEA please share ! I would love a service similar to Revolut with no fees on ATM even with a small limit per month.

 

[nomad999]

better to use a bank account statement as proof of residency for KYC instead of your work permit that have an expiry date.

 

[Dasboot]

Transferwise, Advcash and Wirex will allow KYC with a Thailand residency if I am not mistaken, unfortunately they don't allow debit card in countries in South East Asia ... I am guessing they needs a banking license or to comply with some crazy regulations in each country to issue Visa/MC debit card, only resident of Singapore can as far as I know. Not sure what's going on there, if anyone know please share!

I think N26 are rather strict with KYC so I suggest to keep Revolut in case. for instance Revolut asks me to confirm my old residence in Europe and I just had to answer yes without providing any proof. Will stop using them as much now that they are out of the UK and relocated inside Europe though ...

If anyone know an EMI that can issue Visa/MC card in SEA please share ! I would love a service similar to Revolut with no fees on ATM even with a small limit per month.

Thanks a lot!

Revolut has turned insane on AML measures, basically blocking me even AFTER sending documents and getting an OK... Will not ever touch them again I think, maybe with a company - but not a trustworthy any longer. (Pure technical problems filing in the app and so on too)

Great to know that I might have to ditch the card if changing the address, cards actually have gotten far less of a priority now that travel is gone!

I live by cash here, and what I might need online with a card is always doable anyway.

There is Neat out of Hong Kong of course, but I do not really want to send my video selfie to a Chinese entity... Might do it in the end, would be a perfect way of diversifying...

Tenx used to get good reviews as a local crypto card, not sure how they've dealt with the whole Wirecard thing - will try to check that out soon & report back!

 

[nomad999]

damn good to know for Revolut, yea the move to Europe means crazy AML/KYC s**t ... I use it with very low amount so that might be why I didn't had any issues ...

Neat is dead or at least you can't subscribe anymore at the moment and same issue with cards, there is literally no one providing Visa/MC card outside of banks in SEA, so annoying ...

Actually I have high hope in chinese payment / card provider here in SEA in the future, without them outside the banks we are fucked i think unfortunately.

yea my TenX card got cancelled just recently because of wirecard ... was KYC in thailand with them it was perfect ! apparently they might come up with another card provider in the coming months so finger crossed ... although the spread they give you for crypto is not the best to say the least.

 

[Dasboot]

damn good to know for Revolut, yea the move to Europe means crazy AML/KYC s**t ... I use it with very low amount so that might be why I didn't had any issues ...

Neat is dead or at least you can't subscribe anymore at the moment and same issue with cards, there is literally no one providing Visa/MC card outside of banks in SEA, so annoying ...

Actually I have high hope in chinese payment / card provider here in SEA in the future, without them outside the banks we are fucked i think unfortunately.

yea my TenX card got cancelled just recently because of wirecard ... was KYC in thailand with them it was perfect ! apparently they might come up with another card provider in the coming months so finger crossed ... although the spread they give you for crypto is not the best to say the least.

Met the founder of Tenx actually, got him on Linkedin - just need to rebuild my profile first

I view cards and traditional banks as on/off-ramps only now, want to get completely OUT of fiat if at all possible... But some access to the legacy systems is of course extremely important!

 

[dimitri]

What would be the best EMIs that are OK with me relocating to Thailand? This is NOT for a corporation, private use only and all funding will be done from my existing accounts in Europe.

I live in BKK and I use the N26 and Transferwise credit cards without problems. I use these cards if I can pay by credit card. If I want cash money from an ATM I use Transferwise to transfer money to a local bank account.

Revolut has a less favorable exchange rate in Thailand so I only took it as a backup. I never told them that I moved, I still have an address in Europe.

I asked N26, they will cancel your account immediately if you tell them that you moved to Thailand. Transferwise doesn't send cards to Thailand, so you will need an address in your home country to receive a new card if the old one expires.

In my home country, most banks will cancel your bank account if you tell them that you moved to a country outside the EU. All banks will cancel credit cards, you can only keep a debit Maestro card. I found only 1 bank that would allow me to keep my account with them if I would tell them that I moved.

I feel very insecure about my bank accounts. Everything is ok now, because I didn't tell them that I moved. But if they find out I will lose everything, except for 1 limited bank account with a debit Maestro card in my home country. And Thai banks are awful.


Are there (preferably multi currency) bank accounts (preferably with an IBAN) with a debit Master card/Visa card you can open as a European living in Thailand?

The only thing I found till now is ING Luxembourg for E 200 a year, but the account comes with a weird vpay card.

 

[waykooksaram]

I have tax residency in Thailand and was able to open a Crypterium account and I have been using their card successful for ATM withdraws.

 

[randomname11]

From personal experience, the following open accounts and issue cards to Thailand:
SatchalPay
Paysera
Bitsafe

 

[nomad999]

I have tax residency in Thailand and was able to open a Crypterium account and I have been using their card successful for ATM withdraws.

Interesting, so you passed KYC with your thailand residence and they sent you a card there ? You didnt use an EU address ?
Sorry to ask but on Crypterium website they say "available for order : Europe" for the visa card.

Also Crypterium fees are ouch !
1.5% + 0.5% load fee + gas fee
3€ + 1.6% atm fee
2.5% conversion fee

 

[waykooksaram]

Interesting, so you passed KYC with your thailand residence and they sent you a card there ? You didnt use an EU address ?
Sorry to ask but on Crypterium website they say "available for order : Europe" for the visa card.

Also Crypterium fees are ouch !
1.5% + 0.5% load fee + gas fee
3€ + 1.6% atm fee
2.5% conversion fee

Their fees are very steep, not happy about it. Yes I passed the KYC and they mailed it to my Thailand address. I am not a EU citizen and do not have an EU address.

 

[nomad999]

Their fees are very steep, not happy about it. Yes I passed the KYC and they mailed it to my Thailand address. I am not a EU citizen and do not have an EU address.

Ah very good, thx for the confirmation!

Yea not that much choice for crypto card unfortunately ... so even with these crazy fees its worth it.

 

[jaxop]

Their fees are very steep, not happy about it. Yes I passed the KYC and they mailed it to my Thailand address. I am not a EU citizen and do not have an EU address.

Do Crypterium allow you to load with BTC from non KYC source? As in can you send CoinJoined BTC to your Crypterium account from Wasabi for instance?