Money & Banking
Everything you need to know about managing money in Thailand
Thai Baht Exchange
฿1 = $0.028
Approx. 35-36 THB/USD
ATM Withdrawal
฿220 fee
Foreign card charge
Bank Account
Free-฿500
Opening deposit varies
Money Transfer
0.5-2%
International transfer fees
Opening a Thai Bank Account
Required Documents
- •Passport with valid visa (tourist visa minimum 30 days remaining)
- •Proof of address in Thailand (rental agreement, hotel booking, or residence certificate)
- •Work permit (for some banks) or letter from embassy
- •Thai phone number for mobile banking
Recommended Banks for Expats
Bangkok Bank
Most expat-friendly, international transfers
Kasikorn Bank
Good online banking, easy account opening
SCB (Siam Commercial)
Excellent app, widespread ATMs
Krungsri
Japanese partnerships, good for work permits
Sending Money to Thailand
Wise (Recommended)
- • Best exchange rates
- • 0.5-1% fee
- • 1-2 day transfers
- • Direct to Thai bank
DeeMoney
- • Thailand-based service
- • Good for receiving
- • Agent locations
- • Cash pickup available
SWIFT Transfer
- • Traditional banking
- • 3-5 day transfers
- • Higher fees ($25-50)
- • Best for large amounts
ATMs & Cash in Thailand
ATM Tips
- •฿220 fee per foreign card withdrawal
- •Maximum withdrawal ฿20,000-30,000 per transaction
- •Use bank ATMs, not standalone machines
- •Yellow (Krungsri) and Purple (SCB) have highest limits
Cash Usage
- •Thailand is still largely cash-based
- •Street food and markets: cash only
- •Keep ฿20, ฿50, ฿100 notes for daily use
- •฿1,000 notes hard to break at small vendors
Digital Payments & Cards
Popular Payment Apps
- •PromptPay: QR code payments linked to phone/ID
- •TrueMoney: E-wallet for 7-Eleven and online
- •Rabbit LINE Pay: Popular for BTS/shopping
- •GrabPay: For Grab services and partners
Credit Card Acceptance
- •Major hotels and restaurants: Yes
- •Department stores and malls: Yes
- •Street vendors and markets: No
- •3% surcharge common for credit cards
Tax & Financial Planning
Thai Tax Residency
Spending 180+ days in Thailand makes you a tax resident. Global income may be taxable if brought into Thailand in the same year earned.
Investment Options
Thai banks offer fixed deposits (1-2% interest), government bonds, and mutual funds. Property investment requires careful legal consultation.