Thailand: Cash or Card?

Thailand is one of the most popular destinations in Southeast Asia. STILL, and I’m telling you this after losing money myself: there are no ATMs that DON’T charge you a fee. I swear. So pay attention to the tips below about the most asked question: Thailand: Cash or Card? so you don’t lose money like I did.

Thailand: Cash or Card

The first thing I’ll tell you is that, like any country with lots of street life, food stalls, shops set up in someone’s garage, and public transport, cash is still the most common way to get around.

As a rule of thumb:

Card: hotels, shopping malls, mid-range and high-end restaurants, airlines and tours.
Cash: markets, street food stalls, tuk-tuks, local transport, temples and small shops.

ATMs in Thailand: The Fee You Can’t Avoid

ATMs accept many types of foreign cards without any problem. The catch is that Thai banks charge a flat fee per withdrawal, on top of whatever your home bank charges you.

220 THB (about 6 USD) per international withdrawal. According to some guides I found online, the fee can range from 150 to 350 THB depending on the card and the ATM. But from personal experience, I never found one for less than 250.
Aeon Bank is the cheapest option, at 150 THB per transaction, although its daily limit is around 20,000 THB.

Since the fee is flat, it doesn’t matter how much you take out, so ALWAYS withdraw as much as you can.

ATM Withdrawal Limits in Thailand

Most banks set a maximum of 20,000 to 30,000 THB per withdrawal, with no limit on the number of transactions per day. Two caps can stop you: the ATM’s limit and the one set by your own bank. Before you travel, check your foreign withdrawal limit, your card payment limit and your foreign transaction fees.

The Trap: Dynamic Currency Conversion (DCC)

Many ATMs ask whether you want to be charged in your home currency. Always decline the conversion and choose to pay in baht (THB).

A Trick to Avoid the ATM Fee

You can withdraw money from a teller inside a bank branch, which avoids the ATM fee and also removes the withdrawal limit. You need to go with your card and passport to a bank like Krungsri and take out whatever you need, with no cap and no fee.

Western Union

This is the alternative I used the most to avoid ATMs. Keep in mind: they DON’T ALWAYS have cash on hand, and it’s hard to find places that offer Western Union. Tip: sort it out in big cities like Bangkok before heading into smaller towns.

Travel Cards: Cut Your Costs

If you use a traditional card, your bank may charge you fees for using it abroad. Alternatives:

Wise and Revolut: they offer an exchange rate close to the interbank rate with no foreign transaction fee, so you only pay the Thai ATM fee. Withdrawing 10,000 THB with either one, within the free limit, costs about 6 USD in total. Once you pass the monthly limit, a 2% fee applies.

QR Payments in Thailand

QR payments are very widespread among locals in Thailand. As we saw in the Vietnam guide, there are apps designed for travelers, like Moreta Pay, that claim to let you pay by QR across Southeast Asia without a local bank account. Check coverage and fees in the app before relying on them.