Thailand is a wonderful country to travel in. As in most countries in Asia, you pay with cash almost everywhere in Thailand. When you withdraw money, sometimes you may get an unfavorable exchange rate and also have to pay a lot of fee. So read on quickly in this article on how to get as much Thai baht for as few euros as possible.
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Currency Thailand
The currency in Thailand is the Thai baht. The table lists the different coins and bills. The exchange rate is usually between 35 and 38 baht. This table uses an exchange rate of €1 = 36 baht.
| 1 baht | €0,027 |
| 5 baht | €0,14 |
| 10 baht | €0,28 |
| 20 baht | €0,56 |
| 50 baht | €1,39 |
| 100 baht | €2,78 |
| 500 baht | €13,89 |
| 1,000 baht | €27,78 |
You often get 1,000 baht bills when you withdraw or change money. Then, when you buy something, you can easily exchange this 1,000 baht for change.
ATM withdrawals in Thailand
You can find an ATM on every street corner in Thailand. The best-known banks are: AEON, Krungsri Bank, Bank of Ayudha, Citybank, Siam Commercial Bank and Bangkok Bank. At some ATMs, you can withdraw up to 20,000 baht per transaction, and at others, 30,000.
The downside to ATM in Thailand is that, compared to other Asian countries, it is very expensive. There is a standard fee of 220 baht (€6.10) which is charged extra by the Thai bank and from the Dutch bank you also get a high fee on top. So your cost per transaction can be as much as an extra €15! Still, to keep debit card fees as low as possible, it is wise to withdraw the maximum amount (30,000 baht). When given the choice between with or without conversion always choose without. This reduces the fee and makes you slightly cheaper. Unfortunately, not all ATMs offer this choice. If you don’t think it’s safe to walk the streets with 30,000 baht, many hotels and hostels offer lockers where you can store the money.
Withdrawing Cash in Thailand with Wise
Most of the time you will be charged extra fees on top of the exchange rate. We’ve been traveling the world for years and always use Wise, no matter where we are. With Wise, you get a debit card that lets you easily withdraw cash and make payments. The fees are low and transparent. Click this link to apply for a free debit card. That way, you’ll never overpay when withdrawing cash in Thailand.
You can also use Wise to book a car or as a credit card when filling out forms. It’s the perfect combination for traveling.
Additional tips for withdrawals in Thailand
- In Thailand, money always comes out of the ATM first, then your debit card.
- Be sure to set your debit card to “worldwide” / “PIN outside Europe” before flying outside Europe.
- Make sure your maximum withdrawal is at €1,000. Otherwise, if you try to withdraw amounts above 15,000 baht, you will get a message ‘insufficient amount’.
Always withdraw the highest amount possible when you are going to withdraw so that the cost is relatively lower.
Exchanging money in Thailand
The way to get the most Thai baht for your euros is to simply exchange money. Before you leave for Thailand, take about €500 per person (or more money if you feel comfortable) and you’ll save quite a bit of money. You get the best exchange rate in the basement of Bangkok airport, under the escalator. If you follow the signs Airport Rail Link you will get here. All exchange offices here use the same exchange rate but you can browse around quietly if you are comfortable. By exchanging your euros instead of withdrawing at an ATM, you will easily save 1 to 1.5 baht per euro. So this can add up to 1,000 baht (€27.78) per person which you save easily.
Unfortunately, it is not possible to take so many euros with you when you are in Asia for a long time and traveling around. In that case, always make sure you immediately withdraw as much baht as possible (30,000) at an ATM and choose the without conversion option.
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