The three main banks are the Bangkok Bank, the Thai Farmers Bank, and the Siam Commercial Bank. The Bank of Ayudhya and Bankthai also have branches throughout the country. Foreign-owned banks offering full commercial banking services include the Bank of America, Citibank, Chase Manhattan Bank, Deutsche Bank, Hongkong and Shanghai Bank, and Standard Chartered Bank.

Banking hours are generally 8:30am–3:30pm, Monday to Friday. Some banks have branches in department stores which are open 8am–8pm. Exchange booths are often open daily, early until late. As well as providing day-to-day banking services, the major banks can also organize international money transfers. Most banks, especially in cities, will have an associated ATM.

Most ATMs provide instructions in both Thai and English. Any ATM displaying the VISA or MasterCard sign will accept these cards and dispense cash in baht  using your regular PIN. There are surcharges for such transactions. If you are planning to stay in Thailand for several months or more, it might be a good idea to open an account at a Thai bank. This allows access to any ATM or main bank without having to worry about exchange rates or charges.

Banks almost always offer the best exchange rates, and rates differ little between banks. Hotels usually offer the worst rates, while those at exchange booths can vary considerably. US dollars are the most widely accepted foreign currency when buying baht , although sterling is also generally taken. In Bangkok, hole-in-the-wall exchange booths can be found in most major department stores and shopping malls and on major roads. Mobile exchange units can often be found near tourist attractions and around tourist market areas. These are generally open daily between 7am and 9pm. Exchange rates are published daily in the Bangkok Post  and the Nation .

Credit cards are accepted in major hotels, department stores, and upscale shops and restaurants. They can also be used at major banks (and some exchange kiosks) for cash advances. A surcharge will be applied. VISA and MasterCard are the most widely accepted cards; the use of Diners Club and American Express is more limited.

MasterCard debit cards can be used to withdraw cash at most foreign exchange booths, and at Bangkok Bank and Siam Commercial Bank. VISA debit cards can do the same at the Thai Farmers Bank. Debit cards can also be used at local ATMs, but a surcharge will be levied.

As the popularity of plastic money increases, so too does the incidence of credit-card fraud. Visitors should always carefully check what they sign.

The Thai unit of currency is the baht , usually seen abbreviated to “B.” There are 100 satang  in a baht , but the satang  represents such a small sum today that it is scarcely used. You may hear 25 satang  referred to as a saleung . However, inflation is rendering this colloquial term redundant.

Banknotes come in the following denominations: 10 baht  (slowly being phased out), 20 baht , 50 baht , 100 baht , 500 baht , and 1,000 baht . Changing large denomination notes in rural areas may prove difficult.

The coin denominations are 25 satang  (1 saleng ), 50 satang , 1 baht , 5 baht , 10 baht . Possible confusion over different sized coins of the same denomination is becoming less likely as older, larger 1 and 5 baht  coins are gradually phased out in favor of smaller versions. Old coins feature Thai numerals only, while newer coins have both Thai and Arabic numerals.

Travelers’ checks are the safest method of carrying money. Banks, main hotels, and most exchange booths cash them, with banks providing the lowest surcharge. Banks charge a fee per check cashed, so using large-denomination checks works out cheapest.

Thailand imposes a 7 percent Value Added Tax (VAT) on goods and services, generally levied only in upscale hotels, restaurants and shops. It is not possible to claim VAT back.