Money in Thailand

Despite all the smiles, helpful hands, and generally genial disposition, Thais still expect to be paid for services rendered. Yeah OK, they really, really expect to be paid, service rendered fully or not.

I think that the simple solution is to use an ATM card to withdraw money in Thai Baht directly from your home savings account as you need it. I often carry around 5,000 THB in my wallet, which is far more than I would carry back in the US, but I do it for two reasons: it's very unlikely that you will be mugged and you use cash for just about everything here.

The first point, the security of your cash, is something that always concerns people. I see numerous tourists here with cash belts, money in socks, only holding limited amounts of money, and even wearing their backpacks on their front so that people can't slash the bottom open and empty their backs while they're wearing them. I don't think any of this is necessary. I've traveled through Europe, America, and Asia, and I can say without hesitation that your money is least likely to be stolen directly in Asia.

I have never been mugged, pick-pocketed, or stolen from here. Despite this, I've lost a lot of money. I've bought things for far over the fair price, I've been cheated on deals, and I've had a girl walk, or rather drive, away with my car. The style here is not to directly steal your money, but to smile warmly as you hand your money over and then to bolt for the door. With this in mind, I think the best way to secure your money is to check your bill, count your change, deal with reputable villas, hotels, and businesses, and not to put anything in anyone else's name.

The second reason for carrying around a lot of cash is because, outside of the largest internationally run stores, you will need to pay for everything in cash. This is changing slowly, and some of the larger more tourist oriented restaurants will accept credit cards as will the big tourist shops, but you'll be hard pressed to use a card picking up you tab at the bar or buying from a locally run restaurant. Using a card will also get the 3% transaction fee added onto the price at many locations. Yes, that's against the credit card policy. No, it won't help if you explain that to the merchant.

So, since you'll be needing a lot of cash, you can make frequent withdrawals from the ATM and get hit with crazy bank fees every time or just carry around a big wad of cash. It's clearly your choice, but I suggest carrying around the big wad of cash. Not so much that you'll be destitute if you lose it, but I wouldn't be shy carrying around 10,000 THB or so.

I also see some people changing money at the foreign exchange booths. I don't understand this. The rates are no better than those that you get from the ATM and you're stuck carrying around even more cash that you can't easily use. Traveler's checks make a bit more sense, but because of the low crime and hassle of exchanging them, I don't think they're worth the effort.

PS: It's always a matter of playing the odds. On balance, being careful that you're not swindled will save you far more here than trying to avoid being mugged. But be smart, despite this being one of the friendliest places I've ever been and despite people wandering around falling down drunk at night like it's an amusement park and getting home fine, things do happen.

And one last tip: when you take out the money, try putting an extra THB 900 on the amount. For example, take out 5,900 instead of 5,000. The machines will usually give you one 500 and four 100's. This is a big help when you're dealing with street merchants who don't ever seem to want to break a 1000.