If You Have Crypto, Avoid Thailand's Big ATM Fees

Captainnemo @captainxcaptain
· November 2019 · 2 min read · Thailand · #budgettravel

So you've made it to Thailand. You head to an ATM and withdraw some funds. Accept the 220baht fee, whatever that is. You then check the exchange rate to see that it's a good $10CAD or 6.6€ charge per withdraw. Also the exchange rate you get is abysmal. There must be a better way.

There is! For you crypto holders/users out there, Everex and Krungthai bank will be your new best friend during your stay in Thailand. The process is simple enough and easy to buy back any crypto if you're unwilling to part with your coins.

It's as simple as downloading the Everex transfer app and verifying your email.

You have a few different coin options to choose from. I use USDC for convenience.

A few options for transfer
A few options for transfer

Once you've figured out how much USDC or equivalent you need and the total being more than 1000baht, you can go back and hit the receive button(Don't forget to leave a bit of room for your transaction fees).The multicoin wallet address will appear. This is the address to send your coins to. As always with crypto, please make sure you're sending the right coins. In a few minutes my USDC will usually confirm and I can go to withdraw.

Find one of these guys.

At these ATMs, you'll find a cardless withdrawal option on the left. Input your Ref numbers from the email and remove your baht, no service charge. Almost more importantly the spread from exchanging to USDC is likely smaller than the exchange rate given by the ATM further saving you more money.

Enjoy your trip. Put the 220 baht to better use for some legendary Thai street food.


Topics: BUDGETTRAVELTRAVELADVICE

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