Exchanging currencies doesn’t have to be a daunting tasks. Deciding where to exchange your money will have an impact on how much you land up getting out of the exchange. You can covert your currency to Baht’s all over the world.
Most experts recommend exchanging your currency before travelling internationally. This enables you to look for the best rates and provides you with more options. There’s less of a rush to convert your money into Baht’s before you leave for your trip.
Before exchanging your currency, it is highly recommended that you research which currency exchange outlets offer the best deals. It is best to carry a mix of cash and have money on an internationally enabled card for safety.
Exchanging Money When Travelling To Thailand
Thailand’s currency is the Baht. It is notably a weaker currency than most western currencies, such as the Dollar, the Euro and the Pound. In order to pay for anything in Thailand you need to exchange your currency for Baht’s.
You may have to pay for your transport to your accommodation if your hotel or tour hasn’t already organized this. You could also want to buy food or water after your long trip.
You can either choose to exchange your money in your home country or when you arrive in Thailand. Choosing to exchange your money in your home country enables you to immediately be able to make purchases when you arrive in Thailand.
However, as most places within Thailand only deal with cash, it is necessary to exchange a set amount of money to use for the first few days of your trip. You should also organize an international debit or credit card that you can withdraw Baht’s from an ATM.
It is recommended that you only exchange enough Baht’s to last you a few days at a time as handling cash can be more dangerous and open you up to theft, or you could lose your cash.
Most vendors throughout Thailand deal with cash only so it is a necessity to carry cash with you, but choosing to exchange your money before you leave or in Thailand is entirely up to you.
ATMs are easily accessible across Thailand which makes it easier to withdraw the amount of cash you would need at anytime – ensuring that the bulk of your money is safe and also resulting in less hassle to convert your Baht’s back into your currency when you leave.
Pro’s Of Exchanging Your Money Before You Leave For Thailand
There are a number of benefits to exchanging your money into Bahts before you travel to Travel.
- It is less admin as it is easier to go to your local bank as you understand your home country better than you would travelling to Thailand for the first time.
- You can set a rough budget and convert the exact amount of money you’d need for your trip.
- International bank chains that operate in Thailand and your home country can offer you better rates. It has been advised that you find out what big international bank chains are in Thailand and your home country and approach these first to exchange your currency into Baht’s.
- You can immediately start making purchases when you land in Thailand
Cons Of Exchanging Your Money Before You Leave For Thailand:
While it is important to have access to Baht’s when you land in Thailand, there are a number of cons to consider
- It is however risky to exchange all the money you’re budgeting for into Baht’s. You can easily misplace loose cash or it can be stolen. It is also harder to keep track of cash.
- As the Baht is a lesser common currency, you will find a larger variety of currency exchange outlets in Thailand
- It can be difficult to budget how many Bahts you will need and you can exchange too much or too little
- You run the risk of forgetting your Bahts at home
Pro’s Of Exchanging Your Money In Thailand
- Exchanging your money in Thailand is easier
- It is convenient.
- Currency exchange locations are widely available across Thailand
- you often get a much better rate in Thailand than you would back home due to the wide variety of currency exchange locations.
- There are currency exchange branches in the airport which means you can easily exchange as much money as you’d need before you even leave the airport. It is still highly recommended that you only change enough money to last for a few days at a time.
- The airport is known to have better rates than other currency exchange locations within Thailand.
- It is easier to budget for how much money you would need once you have arrived in Thailand
- Its safer to exchange your money once you have arrived as you can exchange smaller amounts and there is less risk of losing it or it being stolen while you travel.
Cons Of Exchanging Your Money In Thailand
- However, waiting to exchange money in Thailand may cause a delay if you need cash from the minute you arrive. You’ll only be able to begin making transactions once you have gotten Baht’s unless you are able to find a vendor who accepts cards.
- When you arrive in Thailand its likely you’ll be tired after travelling and will want to go straight to your accommodation to shower and rest. You of course will need Baht’s if you don’t have prearranged travel that has already been paid for.
- You may also be in a rush and therefore not have time to shop for the best rates when you first arrive or feel rushed if you’re in a group tour and don’t have time to stop for yourself.
Alternative To Exchanging Cash:
It is best to find a bank that offers zero fee’s on international card transactions. Some Thai’s ATMs may also charge you an additional service fee.
It is also recommended that you bring with an international credit or debit card as this protects your money and prevents you from losing cash or it being stolen. Using a card enables you to keep better track of how much you are spending.
Making use of a prepaid travel card or ensuring you have an international credit or debit card may be the best solution as it ensures that you have cash readily available that is protected and also helps you keep track of your budget.
You should also shop around for the best ATM’s and their rates before withdrawing cash. Some ATMs charge upwards of 200 Baht per transaction, but it is possible to find ATMs with lower charges and international bank cards that do not charge you for these transactions.
There are ATMs available and easily accessible throughout Thailand, but you should keep an eye out for the added transaction fee’s. There are banks and ATMs available that do not charge additional transaction fee’s. This takes some research to find but it is well worth it.
In Conclusion:
Whether you decide to exchange your money before you arrive in Thailand or when you arrive in Thailand, it is entirely up to what you feel is best. It is recommended that you have some Baht’s on hand when you arrive in order to ensure you can make transactions immediately.
You can find incredible exchange rates with some research in both Thailand and your home country. It is ultimately best to have some Baht’s on hand when you arrive and carry a mix of cash and have a card available.