Tourist E-Wallet: TAGTHAi EASY PAY Now Available for International Visitors

[Gaybutton]

Best to click on the link. I suggest those who do not hold a Thai bank account read this, whether holiday maker or living in Thailand.

I don't know, but I doubt this will suffice as a substitute for holding a Thai bank account for those interested in obtaining the retirement visa.

https://thepattayanews.com/2025/03/21/t ... -visitors/

[Jun]

I'd recommend not touching it with a bargepole before understanding the full fee structure.

Now they're almost certainly not doing this for free, as they also need to stay in business.

Companies with competitive fees tend to display them very clearly as a selling point. Wise would be an example.

I had a quick look on the TAGTHAI website. I couldn't find a list of fees. I couldn't even find a link to fees in the T&C. For me, that's a big red flag.
They tell us certain things are free, but there are many different places where they could hide a fee, with the FX rate being a good candidate.

If they make it so difficult to establish the charges, there is a risk some of those charges are unreasonable.

If anyone can find a full list of fees, please share. As I have a Thai bank account, there's a limit to the time I'm prepared to spend on it.

Just in case anyone thinks fees don't matter, they are sometimes horrific.
For example, it would cost about 4.5% of your money to withdraw money from your average British bank account in Thailand. Accept such price gouging across all of your expenses and you would probably need to work an extra 18 months before retiring, just to cover the fees.

Perhaps this is way better ? It could also be even worse, so I'd want to know.

[Gaybutton]

the FX rate being a good candidate

That is a good point. If it is fee based, without looking into it my guess would be the exchange rate because there are no fees at all for holders of Thai bank accounts paying via Prompt Pay. That makes me think any fees would be up front at the time you're putting money into it.

If it is based on exchange rate, it might be a good idea to compare their rate with rates you can get elsewhere. It could be better to exchange your money for baht first and then put baht into the Tagthai account rather than foreign money.

Also, it would be a good idea to check if there is still money in that account at the end of the holiday, how do you get it back out?

If it turns out that this is truly a good deal, if it were me I would rather put my holiday money into this instead of carrying around cash that could get lost or stolen. It would certainly frustrate the pickpockets.

[Jun]

If it is based on exchange rate, it might be a good idea to compare their rate with rates you can get elsewhere.

Exactly. A very good idea.
Good luck finding those exchange rates on their website.

if it were me I would rather put my holiday money into this instead of carrying around cash that could get lost or stolen. It would certainly frustrate the pickpockets.

If it were me, I'd put zips on my shorts to frustrate the pickpockets.
It's risky to say this, but I've not yet met a pickpocket & those that exist might target more careless people.

Whilst some bars and money boys do have QR codes, I think I will need cash for over half of my holiday spending.

[2lz2p]

GB

If it is based on exchange rate, it might be a good idea to compare their rate with rates you can get elsewhere. It could be better to exchange your money for baht first and then put baht into the Tagthai account rather than foreign money.

Also, it would be a good idea to check if there is still money in that account at the end of the holiday, how do you get it back out?

I've only given it a glance, but apparently to set up the E-wallet you must use foreign currency not baht. As to Exchange rates, they show you get the initial card at one of their currency exchange booths, these usually have their currency exchange rates prominently posted (a quick look at another bank's posted rates could be used as a comparison). Also, when giving them your foreign currency to obtain the card, you can ask/see if the exchange rate is the same as posted (which should be the rate if you were changing it to baht) - All the banks usually charge a small fee for converting currency to baht.

Also, according to the information shown in the article, it appears they will "buy back" any left over money in the E-wallet at the same exchange rate PROVIDED it is 10% or less of the original amount and within the time frame stipulated.

[Gaybutton]

to set up the E-wallet you must use foreign currency not baht.

Thank you 2lz2p. I didn't see that part. Apparently whatever exchange rate they offer is what you're going to get.

Now it looks like this is something that will work beautifully for some, and best to be avoided by others.

[Jun]

My idea of a "reasonable" forex charge is around 0.5%.

Kasikorn make 1.8% on their current GBP exchange rate.

I pay about 0.6% to Wise.
For exchanging currency, I wouldn't dream of using Kasikorn, with far more competitive options like Superrich or TT around.
Superrich typucally charge in the 0.5% ballpark when I was changing money with them.

However, if the 1.8% is the only charge, this is far better than paying the ATM and forex fees to withdraw cash from the average British bank. [Most charge 3%, then add ATM fees. Mine charges about 0.5% and I also have zero % credit cards]

It all depends on your tolerance for being screwed by the banks.

[thaiophilus]

Don't forget you can nowadays do a lot better than the "average British bank", which I agree are ridiculously expensive. Some of the newer banks are much more flexible.

My Starling debit card charges 0% forex, 0% ATM fee, and uses the Mastercard exchange rate, though of course you can't avoid the Thai bank's ripoff ATM fees. Setting up the account online took minutes, and operating it is straightforward.

[Jun]

Don't forget you can nowadays do a lot better than the "average British bank", which I agree are ridiculously expensive.

My Starling debit card charges 0% forex, 0% ATM fee, and uses the Mastercard exchange rate, though of course you can't avoid the Thai bank's ripoff ATM fees.

Agreed.

I also have Starling. I don't use it for ATMs in Thailand, as I have a Kasikorn account.

I also thought this was supposed to be 0%, but when I do make international purchases or ATM withdrawals in other countries, the difference to mid market is nearer 0.5%. I need to see if they have changed the T&C.

My Halifax Clarity and Santander ???? Cards both genuinely charge 0.0%.

[Harald]

I prefer using credit cards which gives me cash back on each transaction