Why Consider Banking Alternatives?
If you’ve already read our guide on opening a bank account in Thailand, you’ll know it’s doable but also not always simple.
Maybe you’re on a tourist visa, your work permit is still in process or perhaps you’re just not staying long enough to bother with paperwork, proof of address, passport copies, signatures in triplicate, and… well, the usual.
That’s where banking alternatives in Thailand come in.
These options don’t replace a Thai bank entirely but in many situations especially if you’re a digital nomad, freelancer, or long-term traveller they might be enough. Let’s look at three popular alternatives: Wise, Revolut, and Western Union.
Wise: The Borderless Account That Just Works
Wise (formerly TransferWise) has quietly become one of the go-to banking alternatives in Thailand for many foreigners in Thailand.
You get real exchange rates, a multi-currency account, and a debit card that works almost everywhere. If you earn in EUR or USD but spend in THB, Wise makes things convenient, easy and cheap.
Key features of Wise in Thailand
- Open an account online (no Thai address required)
- Hold balances in over 40 currencies
- Transfer money to Thai bank accounts quickly
- Get paid like a local in USD, EUR, GBP, AUD, and more
- Link your Wise card to Thai e-wallets like GrabPay or ShopeePay
Insider Tips:
- Wise doesn’t provide local Thai bank account details but there’s small workaround: You can request money using your Thai Baht wallet and send a payment link to receive Thai Baht via Wise Pay.
- Alternatively you can use the debit card of your local Thai bank account and add money to your Wise Thai Baht wallet.
- Wise doesn’t provide debit cards for accounts that are registered with a Thai address. Register with the address of your home country to receive a debit card. You can even enter a different shipping address to receive the card world wide!
Register your Wise account now
Revolut: Your Global Wallet With Local Tricks
Revolut is another strong contender among banking alternatives in Thailand, especially for EU or UK citizens.
It’s app-based, sleek, and built for travel. With one account, you can manage your budget, exchange money, and pay like a local, often at mid-market rates.
What Revolut offers in Thailand
Free and premium tiers, depending on your needs
- Real-time exchange with low or no markups
- Disposable virtual cards for online purchases
- Currency exchange between THB, EUR, USD, and others
- Access to crypto, stocks, and commodities
Insider Tips:
- Revolut doesn’t provide local Thai bank account details but there’s small workaround: You can receive Money via Crypto and convert it to Thai Baht.
- Alternatively you can use the debit card of your local Thai bank account or your Google Pay account and add money to your Revolut Thai Baht wallet.
- Revolut doesn’t currently issue cards to Thailand. So if you’re already here and haven’t ordered one, you’ll need to use an address abroad.
- Also, Thai Baht is available for spending and exchange but not for bank transfers to Thai accounts unless routed via SWIFT (often with fees).
That said, many expats still use Revolut to spend, split bills, or manage budgets while traveling.
Western Union: Old School, But Still Has a Place
Western Union might feel a bit… outdated. But for certain use cases, it still makes sense as one of the banking alternatives in Thailand especially if you need to send or receive cash in a pinch.
Maybe your card was swallowed by an ATM (yep, that happens here). Maybe your home bank froze your account. Or maybe your parents want to send emergency funds.
Western Union in Thailand
- Thousands of pickup locations across the country
- No need for a Thai bank account to receive money
- Send money from abroad to be collected as cash
- Transfers can be instant, depending on the method
The fees and exchange rates aren’t as friendly as Wise or Revolut, especially for large amounts. But in terms of availability and speed, it’s still worth knowing about.
You can send money online or in person, and the receiver can pick it up at places like Krungsri Bank, Big C, or even 7-Eleven (in some cases). It’s advisable to check out the available locations here.
Final Thoughts: Which One Fits You Best?
So… which of these banking alternatives in Thailand should you choose?
Honestly, it depends.
- Wise is probably the best all-rounder for freelancers, digital nomads, and anyone needing to move money around efficiently.
- Revolut shines if you’re already a user from Europe and want to keep things streamlined.
- Western Union is more of a backup – useful when everything else fails.
Some people even use two or more. Wise for receiving payments, Revolut for budgeting, and WU as an emergency fallback.
And if you’re planning a longer stay, you might still want to open a Thai bank account later on. But until then, these are solid, flexible options.
