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Money in Thailand

Money in Thailand

Thailand money comes in the following paper denominations: 1000, 500, 100, 50, and 20 baht notes. Coins come in 10, 5, 2, and 1 baht.

  Large denominations such as 1000-baht notes can be difficult to break; avoid them whenever possible or just use them at bars and guesthouses — places that will likely have change.

10 Tips for Managing your Money in Thailand

Never accept torn or faded notes; they are pawned off on foreigners and many people will not accept them later.

ATMs charge at least 150 baht (around US $5) per transation. Some are now even charging as much as US $6! Take out more money than you think you need in one go.

When taking money from ATMs, specify an odd amount so that you receive smaller notes. For instance, ask for 2,900 baht instead of 3,000 to avoid receiving three 1000-baht notes that are hard to break later!

Keep your big money somewhere separate. Whether you are asked for a bribe from a dirty cop or trying to negotiate a purchase, no need to show how much money you really have!

  Getting small change in Thailand can be a challenge sometimes. If you need to break a big note, try a McDonalds, bar, or Western place. Never expect a street vendor or driver to have change for 500 or 1000-baht notes.

Use ATMs that are attached to banks; it will be easier to recover your card if it happens to be captured. Also, ATMs in public view are less likely to have scanner devices put on the card slot by thieves to capture card information.

If you must change money, check the current exchange rate online — don’t trust the one that the place posts. Also, count your money carefully before walking away.

Travelers checks are useful in a pinch if the ATM network is down. A commission is charged per check that you cash, so cashing larger denomination checks will save you a little money.

  Let your bank and credit card companies know that you will be traveling in Thailand before you leave home. Otherwise, they may lock your card as a protection measure against fraud when they see charges in Thailand pop up!

  Aside from booking flights and paying in some dive shops, credit cards are rarely accepted in Thailand. When they are, Mastercard and Visa work best. Places may tack on a hefty commission for paying with a card, so ask first.

 

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