From history to culture, amazing wildlife, beautiful architecture, overall serenity, and mesmerizing beaches, Thailand has a lot of diversities to offer. This combination alone is a dream come true for lots of travelers and tourists and as such, this is a significant reason why Thailand draws lots of attention from tourists/travelers around the world.
Because Thailand is a very sought-after travel destination, one of the most frequently asked questions from tourists and travelers who would love to visit Thailand is “what is the best currency to take to Thailand?”
The answer is simple. Thai Baht is the best currency to take to Thailand because it is the local currency of the country. However, the Thai Baht (abbreviated as THB) is considered to be an exotic currency and as such may not be easily available at your local exchange market in your home country as it is thinly traded worldwide. If this is the case then it would be advisable to convert your local currency to USD as this can be easily exchanged for Thai Baht when you travel to Thailand.
Most local stores and the transportation sector do not accept USD in Thailand and as such travelers often make the mistake of exchanging USD for THB at the airport before advancing. At airports, currency exchange cost quite a fortune, instead go to bank-owned exchange counters which can be found in tourist areas such as night markets or even Thai banks. There are also benefits that come with using traveler’s cheques in Thailand – they have better exchange rates than cash and can be easily exchanged, however, they’ve become less popular over the years.
Is It Safe To Carry Cash In Thailand?
Even though Thailand is one of the safest travel destinations in South Asia for tourists/travelers, petty theft is still a problem as much as it is in other travel destinations, so it is advisable to only take some cash in case of emergencies and to also make use of forex cards. However, most Thailand locals are known to be extremely polite and a little shy of foreigners.
How Much Cash Should I Carry to Thailand?
According to Thai law, when traveling to Thailand the minimum amount required per person is 10,000 Thai Baht, and 20,000 Thai Baht for a family. You can carry as much money as you like so long as it is not below the minimum amount required. However, if you desire to travel with more than USD20,000 or the local currency equivalent, it would be a must to check in with the customs department on arrival to fill out a declaration form. Your passport and boarding pass will also be required of you.
How To Avoid ATM Fees In Thailand
Sadly, banks in Thailand are aware of the fact that a large percentage of visitors to Thailand are more likely to bring with them a small amount of cash and as such will have to use ATMs for withdrawals during their stay in the country. They see this as an opportunity and take full advantage of it. Aside from your bank’s foreign withdrawal charges, Thai banks have their own special ATM withdrawal fees on foreign cards. This fee is popularly known as the 220 Baht ATM withdrawal fee. For some, the fact that this fee does not reflect on their bank statement is annoying.
Over time this fee has increased. It went from $3.9 (120 THB) in 2015 to $7.10 (220 THB) presently. If you consistently make withdrawals from Thai ATMs for a month, these fees will eventually add up, and for some tourists, this is a lot and can be a big unplanned additional cost for your trip.
Unfortunately, all banks in Thailand do charge the 220 Baht fee for withdrawals on foreign cards. It is rumored that there are exceptions but they are almost impossible to find.
Can this ridiculous 220 Baht ATM fee be avoided in Thailand?
The answer is yes. To do so you would have to give up ATM withdrawals and totally rely on counter withdrawals at a currency exchange or Thai bank. Technically, this is not an ATM withdrawal and will not be treated as one. Furthermore, if you use your card for withdrawal or cash advances at a Thai bank’s counter you will not be charged the 220 Baht fee.
