Money Issue

Usually, fixed prices are the norm in department stores, while bargaining is expected at most other places. Generally, you can obtain a final figure of between 10-40% lower than the original asking price. Much depends on your skills and the shopkeeper's mood. But remember, Thais appreciate good manners and a sense of humor. With patience and a broad smile, you will not only get a better price, you will also enjoy shopping as an art.

If you're travelling on a budget, you should be able to get by on around 500B a day anywhere in Thailand, particularly if you eat local food and take local transportation. Visitors staying in comfortable hotels and eating at restaurants should budget on 600-1000B a day outside of Bangkok and double this amount when in the capital. If money is no object, you can spend to your heart's content in Bangkok, since the capital has several of the world's most sumptuous hotels and some unbeatable shopping diversions.

Western Union is the easiest way to receive money, though the fees are substantial. You can also receive money via wire transfer at the foreign exchange sections of major banks. In most cases all you need is a passport. Western Union is available at Bank of Ayutthaya branches around the country (look for the yellow and black signs).

You can use Western Union or a normal bank to transfer money out of Thailand.

Thai Baht is accepted everywhere and currency exchange booths are available around Bangkok in banks across Thailand. While major credit and debit cards are also accepted in most establishments and shopping centers, there are occasionally additional fees from both the retailer and your card provider. Travelers cheques can be cashed at most banks throughout Thailand though less so at retail establishments.

Visitors entering the Kingdom on a tourist visa are entitled to refund of the 7% V.A.T. on goods purchased at registered retail outlets. The refund may be claimed on a minimum total of purchases worth 5,000 baht with no less than 2,000 baht/receipt/day. Paperwork must be filled out before passing through immigration at the VAT office; at Suvarnabhumi the VAT office is near the entrance to Domestic Departures.

Banks or legal money-changers offer the best rates. ATMs that accept Visa and other credit cards are easily found in the large cities and will provide you Thai currency, while many exchange booths will give you a cash advance on your credit card with a good exchange rate, though they will levy an extra fee.

There's no limit to the amount of money you can bring into Thailand. However, you can't leave with more than 50,000 baht per person unless you have special authorization.

Tipping is not a usual practice in Thailand although it is becoming more common. Most hotels and restaurants add a 10% service charge to the bill. Taxi drivers do not require a tip, but the gesture is appreciated and 20-50 baht is acceptable for porters. In restaurants it is common for Thai’s to leave the coins as a tip, though an additional 20-100 baht is not unheard of in nicer establishments, particularly if the service is good.

The currency of Thailand is the Thai Baht

Currency Notes

Paper baht comes in denominations of 10 (brown), 20 (green), 50 (blue), 100 (red), 500 (purple) and 1000 (beige).

Currency Coins

There are 100 satang in one baht; coins include 25-satang and 50-satang pieces and baht in denominations of 1, 2, 5 and 10. Thai baht is in denominations of:

Thai baht is in denominations of:





1000 Baht front

1000 Baht back



500 Baht front

500 Baht back



100 Baht front

100 Baht back



50 Baht front

50 Baht back



20 Baht front

20 Baht back



10 Baht front

10 Baht back

Banks

COMMERCIAL BANKS, Official CURRENCY EXCHANGE SERVICES or AUTHORIZED MONEY CHANGERS.

Their business hours are generally as follows: -

Commercial Banks:

9.30 a.m. - 3.30 p.m.

Everyday expect Saturday and Sunday, which are bank holidays;

Currency Exchange Service:

8.30 a.m. - 10.00 p.m. every day;

Authorized Money Changers in hotels:

24 hour service,

It may be best to avoid bringing too much money into Thailand, or even carrying it on you while traveling around Thailand. You can get Thai baht from the ATM machines using your major credit card or your foreign bank account debit card; ATM machines are located just about everywhere, from Shopping malls, to small towns and villages.

The exchange rate is calculated automatic and roughly as good as you'll find anywhere (generally it’s set at what that particular bank would offer you at one of its currency exchange counters).

There are also Currency Exchange outlets, particularly in tourist areas. These are especially useful if you forget your PIN number or if you can't find a working ATM near you which will accept your particular card for some reason.

Not all ATM machines take all kinds of cards. Many will not take Visa or MasterCard, or will take one but not the other. You have to look for the credit card logos on the ATM signs. There are also the credit card groups such as Plus and Cirrus. If you look around, you will usually find a machine with your insignia on it.

ATM machines offer both Thai and English language.

It should also be noted that some ATM machines are rigged by criminals to digitally copy the information on the magnetic stripe while a hidden camera records your pin number. Protect yourself by using ATMs in busier areas (they are more difficult to rig) and by using one hand to cover the other while typing your pin number in.

MasterCard and Visa are most commonly accepted, but other kinds of major credit cards are commonly accepted as well. Some carry a sizeable surcharge per withdrawal, e.g., $1, so check with your credit card company beforehand if this is bothersome to you.

You should always keep a small amount of cash on you at all times, one reason for this is that the ATM machines often crash late at night, and aren't reset until the morning. Another reason is in case your credit cards are stolen or lost. While Thailand is a relatively safe country, theft can happen anywhere in the world.

In fact, you may be better off paying cash than using a credit card. While it's technically against the law for the Thai vendor to pass onto you the fee that the credit card company charges them (approximately 2.25% to 3.5%, depending upon card type), it's quite common for them to do so, and it's usually not negotiable -- you either pay the surcharge or don't use your credit card. They often want to charge 4 or 5% instead of the 2.25% to 3.5%.



You should also be aware that many vendors use a third party to bill your credit card. Thus, your credit card number may not be safe.

Any time your credit card number goes down on paper, you could possibly be at risk.

If you lose your credit card or have other problems, you can reach the credit card companies in Bangkok on the following numbers.

MasterCard (02) 260-8572

Visa (02) 273-1199 or (02) 273-7449

American Express (02) 273-0022 or (02) 273-0044

Diner's Club (02) 238-3660