Different countries around the world spend various currencies, but knowing the right country to take to any country can be a challenge. If you are going to Thailand, some currencies are recommended for you to take along with you. In this article, we will shed light on the best currency you can take to Thailand.
In simple words, the US dollar is the best currency to take to Thailand. This doesn’t come as a surprise as the US dollar is the most authoritative currency all over the globe. The US dollar doesn’t fluctuate like many other currencies. Additionally, all exchangers in Thailand accept US dollars; hence, you cannot have any issue with carrying it along with you to Thailand.
Although the US dollar is the best currency to take to Thailand, this doesn’t mean that you cannot take other currencies. There is no form of restriction about the kind of currency you can take to Thailand. So, if you have Euro, Pounds, INR, Yen, or any other popular currency, you can still take it to Thailand.
How much can you take to Thailand?
Having known the best currency to take to Thailand, it is important to also consider how much you can take to the country. Generally, there is no specific restriction for the amount of dollars or other foreign currencies you can take to Thailand.
However, you should understand that if you traveling with cash of more than 20,000 US dollars (or its equivalent in another currency) per person, you are required by law to declare it at the port. This is mainly to reduce money laundering activities that have been taking place in the country for some years.
What currency can you use for paying for a service or product in Thailand?
Another important thing you should think about is the currency that will be used for paying for services and products. As long as Thailand is concerned, the only currency you can use to pay directly is Thai baht. Notably, the Thai baht is the local currency of Thailand and is accepted for payment in all places around the country.
If you have the US dollar or any other currency with you, most vendors will not accept it. In fact, the only place you are guaranteed that Dollars, Pounds, or Euros will be accepted is at the border control point. Other places will likely reject your foreign currency for any payment. Those that even accept the dollar and other foreign currencies will do so with great caution.
However, this cannot be a problem for you as there are numerous exchangers in different places in Thailand. So, one of the foremost things you should do in Thailand is to exchange your foreign currency to Thai baht.
Luckily, there are loads of exchangers in Thailand. So, it should be easy for you to exchange your foreign currency to baht. If you are using well-known exchangers like Grand SuperRich or SuperRich Thailand, you can rest assured that the transaction will be honest and hassle-free. A trusted exchanger will never rip you off. Also, you don’t have to worry about any hidden charges as you only have to pay 2-3% additional commission on the exchange rate.
Other options for spending in Thailand
When you are in Thailand, the best and easiest option for spending money is to use cash. This is because some stores, restaurants, and other vendors only accept cash payments. Therefore, if you need their service or product, you have to use cash.
Nevertheless, there is a risk of losing your cash when carrying it around. Fortunately, there are other options that you can use for spending money when you are in Thailand. These other options include:
- Debit card
You can use a debit card to pay for goods and services in Thailand. Debit and credit cards ensure that you don’t have to worry about being robbed of your hard-earned cash. However, you will have to pay ATM charges which are usually around $4 to $5 per withdrawal at a cashpoint. Although you can shop around to look for the most affordable charges, you should note that most of their fees are in unison. To avoid incurring lots of charges, you are advised to withdraw as much as 20,000 baht at once. You may also need to pay ATM operator fees in some cases.
- Credit card
With the aid of a credit card, you can pay for various things such as flights, hotels, restaurants, and lots more. You need to look for a credit card company that will not charge you for foreign transaction fees. You may also get a chance to use the cash advance offer, but this will likely come with exorbitant interest rates and fees.
Regardless of the offer you get from your credit card company, you will have to pay currency conversion fees and overseas ATM charges.
- Prepaid travel card
A prepaid travel card can also come in handy to pay for products and services in Thailand. Some cards enable users to convert foreign currencies to Thai baht. Many vendors will accept prepaid travel cards without requesting any fee. With this, you don’t have to pay currency conversion fees when withdrawing or purchasing anything.
Many prepaid travel cards also allow you to lock in a particular currency rate. Therefore, you don’t have to worry about any fluctuations in the currency rate during your travels. But inactivity, reload, and issue fees are important considerations for getting a prepaid travel card.
Summary
The dollar is undoubtedly the best currency you can take to Thailand. However, most other popular currencies are also accepted by the exchangers as well as the border point. So, whether you want to travel to Thailand with US dollars, Euros, Pounds, etc., you cannot have any issue. Nevertheless, you shouldn’t hesitate to check out various currencies and their fluctuation before taking them to Thailand as this can affect how much you will spend when you get to the country.