The majority of tourists going on vacation to Thailand are wondering what currency to take with them, where to exchange currency in Thailand, whether it is better to take cash or a card. This article will answer all of these questions and much more.
Currency exchange in Thailand
The official currency of the country is the Thai baht (THB). When paying for services and goods in Thailand, you can only use it. You can change dollars, euros or other world currency into Thai baht at any bank or exchange office. In Pattaya and Phuket you can exchange baht for rubles.
The exchange rate may vary, depending on the different bills being exchanged:
1-2 USD;
5-20 USD;
50-100 USD.
Low denominations are exchanged at a disadvantageous rate, so it's better to bring 50-100 USD bills.
Cash or Card
When deciding whether to use cash or a card, consider your purpose. Using a bank card can help keep your money safe from theft. Even if your card is stolen, you can block it online and protect your funds.
You may still need cash for things like taxis and small expenses, so carrying up to $100 in cash alongside your cards is a good idea.
The most reliable approach is to divide your planned budget into three parts: keep one part in cash and spread the other two across two different bank cards, storing them in separate places.
Bank cards are widely accepted for payment at:
- Large stores;
- Expensive restaurants and cafes;
- Hotels;
- Providers of certain other services.
If you plan to visit inexpensive cafes and stay in a guesthouse, having cash on hand will be necessary.
Where is the best place to withdraw cash?
Withdrawing Money from an ATM
When withdrawing money from an ATM card in Thailand, please note that a fee will apply, and this fee will depend on the terms and conditions of the specific bank. Typically, a single ATM withdrawal will not exceed 20,000 THB.
- Bangkok Bank ATMs allow withdrawals of up to THB 25,000 at a time.
- TMB Bank offers withdrawals of up to 30,000 THB, but the exchange rate may not be as favorable.
Debit Transactions at the Bank
To avoid additional interest charges, consider withdrawing cash from your card at a branch of the relevant bank rather than from an ATM. In this case, the withdrawal amount will not be limited to 20,000 THB, but you will need to present your passport for the transaction.
Bank branches may be less common than ATMs (ATMs are often found on every corner), and it typically takes around 20 minutes to complete a transaction at a bank. Bank employees will handle various documents and make photocopies of your passport.
If you plan to carry no more than 1,000 USD for expenses during your vacation in Thailand, it's advisable to have this amount in cash to avoid potential losses when withdrawing from your card.
