Money exchange in Thailand
You may bring foreign currencies into Thailand to exchange into Thai Baht. Recommended currencies are Euro, USD, Yen, British Pound, or other major currencies. These are the most convenient currencies that will give you the best exchange rate.
Where to exchange money in Thailand?
Exchanging money at bank kiosks is usually the best option because you will normally get a reliable exchange rate. Hotel front desks are only recommended in emergency cases and you will typically lose around 10%.
Are traveler's cheque or personal cheques acceptable in Thailand?
You may bring Traveler's Cheques, however, they are not widely accepted in shops. If you bring traveler's cheques, it is advisable to exchange to Thai Baht at a bank or any other venue for money exchange. Most of the time, a lower rate will be given for traveler's cheque, however it is of course the most secure means of carrying large amounts of money.
Personal cheques are not accepted in Thailand.
Credit Cards are also a viable option when traveling. Most shops, restaurants and hotels will accept major credit cards. Be aware, however, that your credit card company may have additional charges or bad exchange rates that will surprise you when you return home and find your bill! It is best to inquire about your credit plan's policy for overseas charges.
Although most major restaurants, shops, and hotels accept credit cards, there are some small shops and street venders who do not accept credit cards since a lot of Thais prefer to use cash instead. Therefore, sometimes when you shop and pull out a credit card to pay them, they would add 3.5-5 % mark up from the original price. We know this is not common in your country, but to be explained simply, they are passing the bank credit charges on to you. If you have an alternative option to pay cash then it would be an advisable to do so.
Other shops may have a minimum purchase amount required for using a credit card. Starbucks, for example, will only accept a credit card when purchasing 250 baht or more.
Good news! There is very little credit card fraud. Unlike Thailands neighboring countries.