When you travel to Thailand, one of the mundane but essential things you have to arrange is changing money into Thai baht. Although there are various options to do this, the most convenient option may not always offer the best rate. It’s important to decide if the cost savings outweigh the convenience.
Frequent travellers to Thailand will know that it’s useful to have a mix of payment methods including cash and cards. To help you plan your travels, we’ve put together some tips to help answer your questions about the best ways to change money into Thai baht.
Passport and clean banknotes
When changing money in Thailand, you should have your passport with you; banks and money exchangers will usually need to take a photocopy of it. You may also be asked for the name of your hotel/accommodation. Ensure that the banknotes you want to change are in good condition with no writing or rips. Even if the blemishes are small, most banks and exchanges will not accept damaged or defaced notes.
Changing money before you go
Should you change money into baht before you travel? There are advantages to having at least a small amount of Thai baht with you when you first arrive in Thailand. This comes in handy to pay for food or transport from the airport to your hotel. However, you’ll get a better exchange rate when you change cash at an exchange booth in Thailand than you will when changing money to Thai Baht in South Africa.
Arriving at Bangkok Suvarnabhumi Airport
(Photo: TY Kim / Shutterstock)
When you arrive at Bangkok Suvarnabhumi Airport, you will see exchange counters as you walk towards the immigration hall and again near the luggage collections area. These exchange counters are convenient and while the exchange rate may be better than you will get in South Africa, they won’t be as good as the rates you would find at other locations in Bangkok or elsewhere in Thailand. If you only want to change a small amount of money for immediate expenses you won’t lose out too much and it can save time. However, if you plan to change large amounts of cash, you are better off waiting until you are out of the airport and have time to find a better exchange rate at other locations in Bangkok.
For the best exchange rate available in the airport, you need to head down to the basement area where the Airport Train Link is located. There are bank exchange counters here offering a better rate than upstairs. There is also a SuperRich booth in this area that usually offers the best rate you can find inside the airport.
Currency exchange counters
(Photo: Prapan Chulapinyo / Shutterstock)
You can find currency exchange counters around Bangkok and other destinations in Thailand at hotels, shopping malls, and transport hubs. Exchange rates can vary and you need to shop around for the best rate. From our experience, money changers like SuperRich in Bangkok offer competitive rates and with locations inside shopping malls and BTS Skytrain stations, they are convenient.
ATMs
(Photo: Thinnapob Proongsak / Shutterstock)
When you use an overseas bank card at an ATM in Thailand, you will incur a fee (220 baht as of 2024). This is in addition to any fees that your own bank may charge.
It’s important to note that some ATMs in Thailand offer what is known as ‘dynamic currency conversion’. At first glance, this can appear to be a good thing because you are shown on the screen exactly how much you are being charged in your home currency. However, when you agree to the ATM doing this you will get a worse rate. Instead, decline the offer to be charged in your home currency and allow the conversion to be done using the local Thai Baht rate.
Maximum withdrawal rates at ATMs in Thailand vary but typically are between 20-30,000 baht. Making one large withdrawal instead of numerous small withdrawals will save on bank fees.
Banks
You can change money at banks, but independent money changers may offer a better rate.
Another option is to use your debit card (not a credit card) to make a cash withdrawal inside the bank. This will depend on whether or not your bank charges fees for this. This is also at the discretion of the Thai bank and the individual teller. It involves more work for the staff and when the bank is busy they may ask you to use the ATM instead. However, it can save some money on ATM fees if the bank does agree to do it. Staff may also require your accommodation address in Thailand in addition to your passport.
Credit cards
Credit cards are widely accepted at larger stores and in cities and tourist areas in Thailand. Using a credit card for larger purchases can be convenient, but may be subject to fees. You should also notify your bank of your travel plans to avoid any potential issues with card use. Some establishments may also charge a fee for credit card transactions, so it’s worth checking in advance.
Traveller’s cheques
The old-fashioned traveller’s cheque has fallen out of favour because of higher processing fees and the reluctance of banks to accept them. There was a time when they were good to have, but uncompetitive exchange rates and the difficulty in exchanging them in Thailand means they are no longer an attractive option.
Cultural tips
Thai currency features the image of the Thai monarch, and it’s important to handle and treat the currency with respect. If you drop a Thai banknote or coin, do not step on it to stop it from blowing or rolling away.
