Does anyone know if US Dollars are accepted in Thailand? Just wondering if I need to either bring or immediately convert some currency when I get to Thailand. Also -- any guidance on where to convert in Thailand. Do the exchange rates vary much within Thailand?

Although you may get away with dollars for the taxi generally every one uses baht - you'll probably pay a lot more in dollars. Change some at the airport as you leave the restricted area - a number of bank booths are just outside that door and always open. Rates are much the same - slight differences between the banks so worth just checking before you select which to change at. You can just change currency or travellers cheques but currency is quick and easy - ask for some small notes as well - again for the taxi, tollway and hotel baggage man. Otherwise you are stuck with 500bt notes and some taxis won't have the change.

You can change money are most regular banks around Thailand and there are also small booths run by the banks dotted around the main cities - very very easy.

Go to the atm, or use your credit card for purchases. Don`t exchange US money for baht. You lose money that way. also, check to see what fees your bank and credit card company charge for out of country fees. I got a credit union card, and use it strickly for travel outside the US. It is a debit card. Most people on these forums will tell you to use ATM/credit cards. Traveller`s checks are a thing of the past. Much has been written on this subject, if you read the reviews.

ATM's are a good way to go, but check your fees. Also check fees for credit cards, since some of them have extremely unfavorable terms.

In general, I wouldn't suggest relying on your credit card too much. Hotels are no problem, but a lot of small shops will want to add on the processing fee (3% for VISA & MC, 5% for Amex) to the transaction, rather than absorbing it as retailers are supposed to do.

In Thailand, cash is king (followed by offshore holding companies controled by your children )

We found atm's the best alternative when we were there last week. The charge from my bank was only $2.00 and we could get up to about $400 per day - plenty. We used credit cards for larger purchases (ours charges a 1% fee), but some smaller vendors & restaurants did add a 2-4% when we asked to use a cc, so we reverted to cash. The atm's are EVERYWHERE.

As for travelers checks, they aren't a thing of the past. I'm one who prefers them...if they're lost/stolen, then they can be replaced. So, I always take some with me. I'm in Bangkok, once or twice a year and just got back a few weeks ago. And in the three weeks I was there, I used only cash and travelers checks to be converted to baht...along with a credit card to pay big expenses. I just went to the Bangkok Bank, attached to the apartment building I was living in, and had no problem what-so-ever converting either. As far as the exchange rate, I got a decent exchange rate. By the way, the recent issue of either Conde Nast's Travelers magazine or Travel and Leisure magazine has a chart of how much the fees are for ATM transactions overseas.Some quite high. I have both magazines at home and have forgotten which magazine the chart was in. I have never used an American-issued ATM card overseas. ATM cards can get eaten up in the machines in Bangkok. My Thai friend has had this happen to her. Even my banker, at Bangkok Bank,mentioned it. And on busy days, machines can be out of money. Happy Travels!

ATMs are easier indeed but whichever way you do it, either cash, ATM or Credit Card - You will ALWAYS lose on the exchange rate. If you take out Bahts in a local ATM, your local home account is being charged in USD, at the rate set by your Bank for that day. Same goes for Credit or debit cards. And usually, the most favorable rate of all for you will be when you change locally high domination notes (either 50$ or 100$). Question is whether you want to carry cash with you through out your trip, or lose a few dollars on the rate, for the sake of conviniency and security. Which ever way, the Banks always win.....

Pamo, you really want baht from the time you arrive. Most taxi drivers would not accept US dollars, and they don't accept credit cards. On my recent trip, I used both ATMs and exchanged US $100 bills into baht. I did a comparison of exchange rates, and given my $2 per withdrawal charge, I really came out even. So as long as your ATM card doesn't charge a lot per use, you are fine with either method.

(Pat, I'm really mystified by your contention that you lose money by exchanging US dollars for baht...)

I think Pat might have meant,"U.S.cash". Happy Travels!

You cannot spend US dollars in Thailand, although some hotels quote their prices in dollars. When you pay, the dollar amount is converted into Thai baht and you pay with Thai baht...if you use a US credit card, the charge will then be converted to dollars by the credit card company.

I don't understand either about losing on exchanging dollars for baht. It's a moot point. The currency of Thailand is Thai baht. Unless you actually have Thai baht already (because you live and work in Thailand or maybe have some left over from a previous trip), you will need to convert your home currency into Thai baht. It doesn't matter whether you do it with a credit card, ATM card, cash or TCs....you must exchange at some point.

How you exchange is where you can choose how much you lose. The worst thing you could do is exchange your home country's cash at an exchange booth/bank in your home country.

ATM cards issued on your home country's bank may be an economical way to get Thai cash, BUT check with your bank to see what the charges are. Some are nothing (rare), some are a percentage fee, some are a set amount. Also, check the exchange rate that you will be given...how much off of the interbank rate is it? Often the rate you get by using ATM cards is lower than the rate you could have gotten with another means. To know for sure whether the ATM course is right for you, you must check with your bank and be sure you clearly understand all charges and exchange rates.

Credit card companies often give a favorable exchange rate, but many of them also add on an additional set fee or percentage of transaction fee for overseas transactions. Check with your bank/credit card company to learn what your card's terms are.

Cash and TC's are your other options. In Thailand, TC's get a better exchange rate than cash, and bigger denominations get a better rate than smaller denominations at many banks and exchange counters. A real advantage to TC's is that if they are lost or stolen, you are protected, whereas with cash, it's gone forever.

We have always found that the rates at the airport or in town at the banks were similar, if not identical. Thailand is one of the only places where we haven't seen a wide range of exchange rates between exchange counters. Avoid exchanging at your hotel, as hotel rates are poor.

you must have some small bills for taxis...20's 40's and 50's....often no one can even change a 100 when you need it...especially taxis....never think of cashing a 500 from any service worker...

use the atm and then go to an exchange window and break down a larger bill...i see no problem with exhcanging us cash for thai baht...

Just to add to Bobs comments on the last post - he means baht of course - a taxi fare around town may only be 40 to 60 baht and often they just don't have change so if you give them even the 100 you will maybe not get change - gets expensive that way!

KimJapan raises an interesting point

"You cannot spend US dollars in Thailand, although some hotels quote their prices in dollars. When you pay, the dollar amount is converted into Thai baht and you pay with Thai baht...if you use a US credit card, the charge will then be converted to dollars by the credit card company."

Since the hotel exchange rate is usually lower than what you would normally get elsewhere, are you not pay more that the quoted US $ rate when they convert the US into Baht. Or how does this work. I have only stayed at hotels that quote in baht and have paid in cash baht.

You know, I'm not sure what rate the hotels use. But, I have noticed that the rate I finally pay in dollars is slightly off from the rate that I was quoted in dollars...I just accounted that to day to day difference in exchange rate...but it could be the hotel's rate versus interbank rate. Interesting, too, that the pricier establishments do the US dollar pricing thing, where the lower priced places price in baht.

Curiousity had me check what the Peninsula said about this...

"All USD room rates are charged in Thai Baht at the prevailing bank exchange rate."

so you are charged in baht based on that day's bank exchange rate, then your credit card company converts at their rate, hence the differenct.

I would recommand the following -

as a rule, it's always better to pay with Thai Baht...
Looking at the places you guys are staying, i can be sure you have an electronic safe in the room...

bring some cash with you (better to bring $ notes of 100's cause the rate is higher)

change the first 50 or 100 at the airport for the Taxi and tips...

at the following morning - go to "SUPER RICH" in the small soi's opp WTC - they have the best rates in Thailand (usually .20 more than the banks...don't ask me how...)
If you change more than 2-3K of $ they will send someone to your hotel room...

I'm not sure i can post their phone no. here so let me know...

Having exchanged money all over the world, I have to say that the variation in rates in Thailand among banks and exchangers is miniscule. It's not worth my time or money to find someone who has a tiny advantage over others - this is my vacation! The ATMs (as long as you have a card that doesn't charge you a lot for use), the exchange windows or banks all give you an acceptable rate. I mentioned my experiment on my last trip, which yielded differences of mere pennies on the exchange of a hundred dollars. If those pennies are worth you time, then use the favorite place that Ben mentions of the one Bob likes or whatever.

In some places in the world there are vast differences among banks and exchange places. Hong Kong is a good example - the little exchange booths have rates that are as much as 10-20% less (worsw) than the bank rate. I also used to find that in Europe, especially the UK.

The best exchange rate we got was in the Bangkok airport. They had a currency exchanging machine that was very easy to use.

Ditto what Kathie said

Aloha!

Saw various exchange rates between 39.5 and 41 BAHT per USD in various locations in 2 weeks of December 2005. About 2UScents.

If you're going to spend 10's of thousands of USD, this would make a difference.

If, not....