Money in Thailand: Where to Exchange Euros, Which Banks and Cards to Choose, How to Avoid Fees and Better Manage Your Budget on Site

Managing your money in Thailand requires some planning to fully enjoy your trip without being burdened by bank fees or unpleasant surprises. Between choosing a currency exchange office, withdrawing from ATMs, selecting the right bank cards, and daily budget management, there are simple tips to optimize your finances and travel with peace of mind.

Where and How to Exchange Money in Thailand

To get baht, the local currency, you have several options. Independent exchange offices, like SuperRich or Vasu Exchange in Bangkok, generally offer better rates than banks or airport counters.

It is advisable to compare the rates of the day and avoid informal exchangers or the black market, which carry risks of scams or counterfeit bills.

Thai banks also offer exchange services, but with less favorable rates and sometimes additional fees.

Using ATMs in Thailand

ATMs are everywhere, whether in large cities, shopping centers, or in front of convenience stores.

Withdrawing money locally is convenient, but each withdrawal with a foreign card incurs fixed fees, sometimes with additional fees from your home bank.

To limit fees, it is advisable to withdraw larger amounts less frequently. Among local banks, Aeon Bank applies lower withdrawal fees than other institutions.

When withdrawing, always refuse the conversion proposed by the ATM and choose to be debited in baht, to benefit from your bank’s exchange rate, which is often more favorable.

Which Local Banks to Choose or Avoid

The main Thai banks are Bangkok Bank, Siam Commercial Bank, Kasikornbank, Krungthai Bank, and Krungsri.

They have an extensive network of branches and ATMs. Aeon Bank is known for its lower ATM fees. It is best to avoid ATMs located in very touristy areas (airports, hotels), where fees are sometimes higher.

To open a bank account in Thailand, you generally need a long-stay visa, a work permit, or proof of residency. Opening an account for short-term tourists has become complicated.

The Best International Bank Cards for Travelers

Visa and Mastercard are accepted almost everywhere in Thailand, especially in hotels, restaurants, and major stores. However, cash remains essential for small purchases or in rural areas. To limit fees when paying and withdrawing abroad, choosing the right bank card is crucial. Here are the most advantageous options:

• Multi-currency cards and neobanks (Wise, Revolut, N26):

  • Wise is ideal for payments and withdrawals in foreign currencies thanks to the real exchange rate, with no hidden fees. No account maintenance fees, no subscription, and the card cannot be overdrawn, which avoids any risk of incident. Free withdrawals are limited, then small fees apply. The app allows you to track your spending in real time and make international transfers at a lower cost.

  • Revolut offers free payments within certain monthly limits with the standard subscription. Beyond that, a small commission applies. Premium subscriptions remove these limits and offer higher free withdrawal limits, as well as travel insurance and advanced features. Note that fees apply to weekend transactions.

  • N26, with its Mastercard, allows card payments in foreign currencies with no exchange fees. Premium accounts also allow free withdrawals abroad. Real-time notifications, cashback, and 3D Secure security are advantages for travelers.

Points to Check Before Departure

• Usage conditions: Some free cards require a minimum monthly use to avoid inactivity fees.

• Limits: Adjust your payment and withdrawal limits to your travel needs (request a temporary increase if necessary).

• Insurance: Read the insurance and assistance notices linked to your card carefully to know the coverage and exclusions.

• Security: Always bring two cards (from different networks if possible) to avoid being left without payment methods in case of blockage or loss.

• Notifications: Activate transaction notifications to monitor your spending in real time and quickly spot any fraud.

To travel with peace of mind in Thailand (or elsewhere), favor multi-currency cards (Wise, Revolut, N26) to limit fees and benefit from real-time tracking.

Tips for Managing Your Budget on the Spot

• Always have cash for small expenses and markets.

• Limit the number of withdrawals to reduce the impact of fixed fees.

• Use a multi-currency card to get the best exchange rates and track your spending in real time.

• Refuse dynamic currency conversion when paying or withdrawing (payment in euros) and always choose to pay in baht.

• Keep a daily budget to anticipate unexpected expenses.

Bank Card in Thailand: How It Works, Security, and Tips

The bank card (Visa, Mastercard, or debit card) is accepted in most hotels, restaurants, stores, and major urban centers.

However, in markets, with small vendors, or in rural areas, cash is essential.

Before leaving, inform your bank of your trip abroad to avoid your card being blocked for suspected fraud.

Check your card’s payment and withdrawal limits, especially if you plan large expenses or important transfers.

ATMs: Where to Withdraw Without Fees?

Some local banks offer fee-free withdrawals for foreign cards, but most charge fixed commissions. ATMs from major banks like Bangkok Bank, Kasikornbank, Siam Commercial Bank, or Krungthai Bank are reliable and found everywhere.

Ask locals which ATMs do not charge extra fees. Avoid independent ATMs, which are often more expensive. When withdrawing, always choose to be debited in the local currency (baht), not in euros, to avoid hidden exchange fees.

Opening a Bank Account in Thailand: Procedures and Advantages

For a long stay, opening a bank account (at Bangkok Bank, Kasikorn Bank, etc.) allows you to receive transfers, pay with a local card, and limit fees on foreign currency transactions.

Current accounts are accessible with an international debit card. Opening an account generally requires a passport, a valid visa, and sometimes proof of residence.

Money Transfers and Exchange Fees

To transfer money from Europe or another euro zone, use specialized services like Wise (formerly Transferwise), which offer transparent exchange rates and lower fees than traditional banks. Classic bank transfers can be expensive, especially outside the euro zone, due to fixed fees and exchange rate commissions.

The main foreign currencies accepted in Thailand are the euro, dollar, yen, peso, or rupee, but it is always best to arrive with baht or exchange money locally.

International and Alternative Bank Cards: How to Pay Without Fees?

Some international cards (Visa, Mastercard, N26, Revolut, Nickel) allow you to pay or withdraw money abroad without fees or with very low commissions.

Cards with systematic authorization (like Nickel or Monabanq) are also a good solution to control your budget and avoid overdrafts. Before leaving, check your card limits and the conditions of use outside the euro zone.

Payments, Checks, and Cash Management

Card payments are common in big cities, but checks are almost never accepted in Thailand.

Always have cash for small expenses, taxis, or markets.

To limit fees, always pay in baht and refuse automatic conversion to euros offered by some terminals or ATMs.

Managing your money well in Thailand involves a combination of solutions: exchanging at reliable offices, making strategic withdrawals at the cheapest ATMs, and using suitable bank cards. By planning ahead and diversifying your payment methods, you will avoid unnecessary fees and fully enjoy your stay in the Land of Smiles.

Traveler’s Tip: Always Travel with Two Bank Cards… and Never Keep Them Together!

When preparing for a trip, people often think about their passport, plane tickets, or insurance, but payment methods are just as essential. An experienced tip that can literally save your vacation: always travel with at least two different bank cards, and most importantly, never keep them together in the same place!

Why Two Bank Cards?

Imagine this: you’re enjoying your trip, and suddenly, your main bank card is swallowed by an ATM, lost, stolen, or blocked by the bank for suspected fraud. Without a backup solution, you risk being left without access to your money, which can turn a dream into a nightmare.

Having a second card, ideally from another network (for example, a Visa and a Mastercard), allows you to continue paying or withdrawing money even if one card no longer works or is compromised. This is especially important in some countries where not all networks are accepted everywhere.

Never Keep Your Cards in the Same Place

For this precaution to be truly effective, it’s not enough to have two cards: you also need to keep them separate. Keep one on you (in your wallet or bag), and the other at your hotel, in a safe, a secret pouch, or another bag. This way, in case of theft, loss, or pickpocketing, you don’t lose all your payment methods at once.

Other Practical Tips

• Check the validity and limits of your cards before leaving, and request a temporary increase if needed.

• Notify your bank of your destination to avoid automatic blocking of transactions considered suspicious.

• Write down your banks’ emergency numbers to block your card quickly in case of a problem.

• Test your cards abroad at the start of your stay to make sure they work.

• Use banking apps to monitor your accounts, manage limits, or block a card remotely if needed.

Pro Tip

Many experienced travelers opt for a classic main card and a prepaid card or one from an online bank (like Wise, Revolut, N26), which is easy to block and reload remotely. This helps limit risks and better manage your budget.

In summary:
Always have two bank cards, never in the same place! This simple but crucial habit will save you a lot of trouble and allow you to travel with peace of mind, even in case of the unexpected. Safe travels!

What is the difference between credit cards and debit cards?
Credit cards allow you to borrow money from the card issuer up to a set limit, while debit cards draw directly from your checking account balance. Both can be used for purchases, online banking, and ATM withdrawals, but credit cards may offer additional features like rewards or cash-back.

What are transaction fees and surcharges?
A transaction fee is a charge applied by your financial institution or the merchant for processing a payment, cash advance, or foreign-exchange transaction. Surcharges are extra fees that may be imposed by ATM operators or merchants, especially when getting cash or making purchases in foreign currency.

How can I get cash when traveling?
You can use your debit or credit card at an ATM to get cash in local currency. Make sure your card is enabled for international use and check if your card issuer charges fees or applies a foreign-exchange rate. Some banks and credit unions offer no-fee ATM withdrawals or reimburse surcharges at certain networks.

What is a cash advance, and are there fees?
A cash advance lets you withdraw cash from your credit card, either at an ATM or a bank branch. Cash advances often come with higher interest rates and transaction fees compared to regular purchases. Always check with your card issuer for specific terms.

How can I avoid overdraft fees?
Monitor your account balance regularly through online banking or mobile apps. Some banks offer overdraft protection, which may link your checking account to a savings account or credit card to cover shortfalls. Be aware that overdraft protection may still involve fees or interest charges.

What is the difference between a checking account and a savings account?
A checking account is designed for everyday transactions, such as debit card payments, ATM withdrawals, and direct deposits. A savings account is intended for saving money and may offer higher interest rates, but typically has limits on the number of monthly withdrawals.

What is a credit union, and how does it differ from a bank?
A credit union is a member-owned financial institution that often offers lower fees, better interest rates, and a more personal approach compared to traditional banks. Many credit unions are part of surcharge-free ATM networks.

How do I get cash back with my card?
Some merchants allow you to get cash back when making a debit card purchase at the register. Certain credit cards also offer cash-back rewards for purchases, which are credited to your account or can be redeemed for cash.

What should I know about foreign currency exchange and travel money?
You can exchange currency at banks, currency exchange offices, or online services like Travelex. Using your debit or credit card for purchases or ATM withdrawals abroad often provides a competitive exchange rate, but check for any foreign-exchange fees. Always choose to be charged in the local currency rather than US dollars or your home currency to avoid dynamic currency conversion fees.

How can I protect myself from fraudulent transactions?
Monitor your account activity regularly and set up real-time fraud alerts via your card issuer’s online banking. Report a lost or stolen card immediately. The FDIC insures deposits at US banks, but always follow best practices to keep your card and account information secure.

What is the role of the card issuer?
The card issuer is the financial institution (bank or credit union) that provides your credit or debit card, sets your account terms, and handles billing, disputes, and customer service.

Can I use my card for both credit and debit transactions?
Yes, many cards allow you to select "credit" or "debit" at the point of sale. Debit transactions usually require your PIN and are deducted immediately from your checking account, while credit transactions may offer additional protections and rewards.

How do I check my account balance or manage my card?
You can check your account balance, review transactions, and manage your card settings through your bank or credit union’s online banking platform or mobile app.

What should I do if I need to dispute a transaction?
Contact your card issuer as soon as possible. Most issuers allow you to dispute a transaction online, by phone, or through their mobile app. Provide details about the transaction and any supporting documentation.

Are there no-fee or low-fee options for international travelers?
Some financial institutions and credit unions offer no-fee or low-fee debit and credit cards for international use, including ATM fee reimbursement and favorable foreign-exchange rates. Compare options before you travel and inform your card issuer of your travel plans to avoid service interruptions.