Money Exchange, Credit & Debit Cards and ATMs

July 11, 2010 by  
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Exchanging Money and Restrictions

CIMB Bank In Krabi Town

There is no black market exchange rate, so you should only exchange money at a bank or similar foreign exchange facility, which give the best rates. (Of course, hotels give bad rates.) The international airport in Bangkok has currency exchange facilities. Traveller’s cheques are widely accepted in many major Bangkok establishments, though you should convert them into the local Thai baht at a bank or similar foreign exchange facility. There is not a large difference in value between traveller’s cheques and regular money, and you can get a slightly higher rate for traveller’s cheques. Large denominations of money (e.g., $100) get you a better exchange rate than small denominations (e.g., $20). Most of the major European and Asian currencies are accepted, though some are not. For example, it seems nobody will exchange Chinese Yuan/RMB or Indian rupees. If you’re not sure, then bring U.S. dollars. There’s no limit to the amount of money you can bring into Thailand. However, you can’t leave with more than 50,000 baht per person unless you have special authorization (this exact amount seems to change from time to time). You can carry out any amount of foreign currency, but there are restrictions at banks on how much Thai baht you can convert into foreign currency at one time, and for large amounts you will need to show your airplane ticket and passport, and maybe provide an explanation for very large amounts. (These restrictions are mainly the result of currency speculation surrounding the 1997 currency crisis, and again in 2007 due to “capital controls” which were discontinued in 2008.

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