If you’re planning to visit Thailand, it’s important to arrange currency exchange in advance. We spoke with some travelers about this; perhaps their experiences will help you save money when buying baht and avoid falling for scammers’ tricks. Read our article if you want to exchange money safely and get the best rate.
In Thailand, you can only pay in baht, and many places do not accept cards, not even international ones. Therefore, purchasing baht is a top priority if you plan to travel throughout the Kingdom.
Inexperienced tourists can easily lose money due to unfavorable exchange rates or fees, and may also fall victim to scammers.
This is facilitated by:
Your trip to Thailand will be most comfortable if you arrange currency exchange in advance.
We’ve scoured forums where travelers share their personal experiences with currency exchange. We’ve compiled the key points that may come in handy while traveling in Thailand.
What to keep in mind when exchanging currency in Thailand:
Thailand offers a convenient and secure currency exchange service. Some exchange offices allow you to transfer money to their account, deliver baht in cash, or let you withdraw it from an ATM.
Tourists report that the exchange rate for old-style dollars is unfavorable.
In Thailand, you can exchange money online or in person. To avoid losing money due to unfavorable exchange rates or hidden fees, and to prevent fraud, choose reputable exchange offices.
The most convenient way to buy baht is online—for example, at Senate Exchange. You can transfer USD, EUR, and RUB from your bank account to the company’s account details. You can withdraw baht at a local ATM or order cash delivery by courier. Conveniently, the exchange also works with cryptocurrency. Offline, you can exchange money at bank branches or currency exchange offices. We recommend buying baht at licensed exchange offices such as Senate Exchange. Exchange offices of specialized networks are located on streets and in shopping centers.
It is safe, but less cost-effective and less convenient than exchanging currency at banks. Financial institutions are not open 24 hours a day and are only open on weekdays. Furthermore, banks charge a fee for the transaction.
Even a small difference in exchange rates can result in a loss of money, especially if you’re exchanging a large amount.
The exchange rate mainly depends on where you exchange your money. Don’t rush to exchange all your money at the airport or hotel. Rates there are usually inflated, and there may be additional fees.
The value of the baht is also affected by the time of day and the day of the week. The rate is often most stable and favorable in the middle of the day from Tuesday through Thursday.
Don’t just focus on the exchange rate; it’s also important to check the exchange’s fees. Hidden fees can easily offset a seemingly good deal. Sometimes, unscrupulous exchanges deliberately offer a favorable rate to lure customers in.
Even if an exchange office guarantees a 0% commission, don’t rush into it. For example, they may charge a fee for processing the transaction or for other services.
We recommend clarifying all the exchange office’s terms and conditions before buying baht. Ask an employee to calculate the amount you’ll receive after the transaction.
Unless necessary, avoid exchanging currency at ATMs. They always charge a commission, which can be substantial. Moreover, ATMs often offer unfavorable exchange rates.
Tourists who know the approximate cost of living in Thailand prefer to buy baht in their home country. However, most often they bring dollars or euros to the Kingdom, which they exchange as needed. This approach eliminates the hassle of a double exchange if the tourist has baht left over after their trip.
Tips from travelers on exchanging baht will help you save money:
If you travel frequently, get a UnionPay multi-currency card to avoid paying transaction fees.
You won’t be able to get by without cash in Thailand. Cards are accepted only at large restaurants and shopping malls. There may also be minimum purchase requirements—for example, 300 baht. You’ll need to pay with cash at small shops, in taxis, or with beach vendors.
Try to withdraw money from your card only at ATMs located inside bank branches. They are safer. Be sure to cover the keypad with your hand when entering your PIN.
Keep in mind that ATMs charge a fee for each withdrawal. At the time of writing, the fee was 200–220 baht per transaction. Therefore, if your hotel has a secure safe for storing cash, it’s worth withdrawing a large amount at once to avoid paying fees repeatedly.
Before traveling to Thailand, be sure to familiarize yourself with the specifics of currency exchange, monitor exchange rates, and find out about exchange fees. Otherwise, you could lose a significant amount of money.
We recommend using only reputable, licensed exchange offices and services. Avoid exchanging money with private individuals, as this is illegal and unsafe.
Try to bring $100 bills with you on your trip. To avoid losing money to exchange rates, exchange a small portion of your money at the airport and the rest in the city. Buy baht at exchange offices after checking the rate in advance. Banks and ATMs charge a commission.
Read helpful articles with reliable information on our blog, as there is a lot of outdated
information online. Ask questions in the comments. We’d love it if you shared your personal experience exchanging money in Thailand.