Money in Thailand: ATM Fees, Cash Limits, VAT Refund

A Thai ATM charges a foreign card THB 220 to THB 350 per withdrawal. Declare cash above USD 15,000 or THB 450,000 to Customs. The VAT refund needs goods of at least THB 2,000 from one shop in a day.

Money in Thailand comes down to three habits. Say no to currency conversion at the ATM. Declare cash above USD 15,000 or THB 450,000. Ask for a VAT refund form when one shop sells you THB 2,000 or more in a day.

The three numbers that cost visitors most

To put these figures into a plan for the whole trip, see the Thailand trip budget.

ATM fees on foreign cards

Thai banks charge the foreign card, per withdrawal.

If you pick currency conversion at a Krung Thai ATM, the fee is 4% of the amount withdrawn in the currency of the issuing bank. Decline it at the machine and let your own bank convert.

Cash, exchange and the declaration limit

Declare banknotes to Thai Customs when you enter or leave with more than THB 450,000 in baht or more than USD 15,000 in foreign banknotes. Baht, foreign currency and negotiable instruments that together exceed THB 450,000 must also be declared.

Breaking an exchange-control regulation carries a fine of up to THB 20,000, up to 3 years in prison, or both.

For exchange, use a licensed changer, which must display its Ministry of Finance permit. Bring your passport. On a rate board, the Buying Rate column is foreign currency to Thai baht and the Selling Rate is Thai baht to foreign currency. The exchange guide explains which column applies to you.

SIM and eSIM

True and dtac each sell a 10-day tourist SIM at THB 349, and AIS sells an 8-day one at THB 499 with unlimited data. AIS points sit at Suvarnabhumi and Don Mueang. See best eSIM for Thailand.

Bank account and PromptPay

Which bank takes you depends on your visa. KBank does not open accounts for holders of tourist visas or other travel-type visas, including Visa on Arrival, Free Visa and the DTV. Foreign customers on a tourist visa cannot open a Krungsri account.

A foreigner at Bangkok Bank can register PromptPay with a passport, connecting only a mobile phone number with the preferred account. PromptPay transfers not exceeding THB 5,000 are free. The guides on opening a bank account and PromptPay for foreigners cover the tourist alternatives.

Sending money to Thailand

A resident customer who receives foreign currency below USD 200,000 states the purpose and the bank asks for no documents. At USD 200,000 or more the bank asks for documents showing the source. See sending money to Thailand.

VAT refund for tourists

On the day of purchase you show your passport, and the shop completes the P.P.10 form and attaches the original tax invoices. Goods must be at least THB 2,000 including VAT from each supplier per day.

The refund covers only goods taken out of Thailand with you within 60 days of the purchase date. The scheme works for travellers who leave by air only.

Tipping

Read the bill before you tip. A Bangkok restaurant menu states its prices are subject to a 10% service charge and a 7% value-added tax. Tipping Grab drivers is not necessary but always appreciated. See tipping in Thailand.

Tax residency and remote work

Anyone who stays in Thailand for 180 days in total, in one period or several, in a tax year is treated as a resident for that year. Income from work done in Thailand is taxable whether it is paid inside or outside the country.

For foreign income, a resident is taxed only on income earned from 1 January 2024 and remitted in the same or a later tax year. The tax residency guide and the remote worker tax guide cover the calculations.

Cost of living

A lean month in Bangkok costs THB 20,868. A comfortable month costs THB 38,265.68 before VAT and service charges. See cost of living by city and Bangkok cost of living.

Buying a condo

Foreigners together may own no more than 49% of the total unit area of each condominium building. A foreigner may acquire land only under a treaty that gives the right to own immovable property. The condo quota guide has the section numbers.

Driving permit and licence

An international driving permit must be issued under an international agreement Thailand has signed, such as the 1949 Geneva or 1968 Vienna convention. Use it together with your home licence. A motorcycle needs a Thai motorcycle licence or a permit with a motorcycle endorsement.

A Thai licence costs THB 205 for a car and THB 105 for a motorcycle. See the driving permit guide and the licence guide.

Common mistakes

• Accepting currency conversion at the ATM.
• Carrying more than USD 15,000 or THB 450,000 undeclared.
• Arriving on a tourist visa and expecting a KBank account.

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General information checked against the sources listed above, not financial or tax advice for your situation. Rules and fees change; confirm with your bank, the Revenue Department or a licensed adviser before you act. See how guides are checked.

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