Cash or Card? Payment in Thailand Guide

Thailand Cash or Card? Payment in Thailand Guide

Knowing the best ways to handle money is essential while making travel plans to Thailand. Knowing when to use cash or a card can help you save time and money in various scenarios, from crowded street markets to upscale shopping centers. 

This comprehensive tutorial will go over all of the methods for payment in Thailand, including using credit cards, mobile wallets, ATMs, currency exchange, and PromptPay. We'll also introduce the new Easy Pay feature for TAGTHAi, enabling smooth transactions. This guide will ensure you are well-prepared for payment in Thailand.

It's a common question among tourists: how can I make payments in Thailand? The good news is that card and cash transactions are supported in Thailand's versatile payment environment. Nevertheless, your choices and the circumstances surrounding the purchase will determine which approach is best. 

Let's look into the benefits and drawbacks of each choice so you can decide for yourself what to choose when making payment in Thailand.

Cash vs. Card: Understanding the Landscape of Payments in Thailand

Thailand has a broad payment ecosystem. In urban areas and popular tourist destinations, credit and debit cards are commonly accepted, while cash is still the preferred payment method in rural areas and local marketplaces. Furthermore, PromptPay, a popular mobile payment method, has developed into an accessible option all around the nation. 

The Easy Pay function from TAGTHAi was just added, giving travelers even more payment choices. It's helpful to know the advantages and disadvantages of each payment option when thinking about payment in Thailand.

Navigating the World of Cash in Thailand (ATM availability, withdrawal fees, should you carry some cash?)

1. Cash Payment in Thailand

ATM Availability and Withdrawal Fees

With ATMs located all around Thailand, cash withdrawals are easy. But be mindful of withdrawal fees. For foreign cards, Thai banks normally charge a fee per transaction that ranges from 150 to 220 THB. Large withdrawals are advised in order to reduce these costs. To efficiently handle your cash payments in Thailand, look for ATMs at well-known banks including Kasikorn Bank, Siam Commercial Bank, and Bangkok Bank.

Should I Carry Some Cash?

It is necessary to have cash on hand for tips and small payments. Smaller businesses and local sellers sometimes do not take credit or debit cards. An essential part of managing your payments in Thailand is making sure you have a little amount of cash on hand to allow for seamless transactions.

2. Using Your Credit and Debit Cards in Thailand

In Thailand, most hotels, large restaurants, and retail malls accept credit and debit cards. The two most generally accepted cards are Visa and MasterCard; other cards, such as American Express, may not be as widely accepted. Here’s what you need to know about using your cards for payment in Thailand:

Transaction Fees and Currency Conversion Fee

For information on currency conversion and overseas transaction costs, please contact your bank. You can save money by using certain banks' cards, which don't charge foreign transaction fees. To avoid the exchange rates given by dynamic currency conversion, always choose to be charged in local currency (THB).

Safety Tips for Card Use

• Ensure your card has international usage enabled before you travel. 
• Notify your bank of your travel plans to avoid any disruptions in service, ensuring seamless payment in Thailand.

3. More Payment Options for Tech Savvy Travelers

PromptPay, Local Digital Trans

Thailand is rapidly embracing digital payments, with PromptPay leading the way. Users of the PromptPay mobile payment system can send money to or receive money to a local bank account using just their phone number. 

PromptPay is unique because of its QR Payment functionality, which lets users pay by just scanning the QR code. It's widely accepted throughout the country, and you can spot the PromptPay QR code at almost every local market in Thailand now.

TAGTHAi Easy Pay

TAGTHAi has recently launched a new feature called Easy Pay, an e-wallet designed for seamless transactions. Easy Pay can be used with prepaid Pay & Tour cards, which you can register for free at Kasikorn Bank Currency Exchange booths. 

When exchanging your currency for Thai baht at KBank FX booths, you can choose to load the money onto your Pay & Tour card for a cashless experience. This prepaid card can be registered directly in the TAGTHAi Super App, allowing you to use the app to scan and pay with PromptPay QR code, just like the locals.

This feature integrates various payment methods, making it easier to handle transactions throughout your trip. For more information, visit TAGTHAi Website

Tip: Tourist Tax Refunds in Thailand

Non-residents can claim VAT refunds on goods purchased at participating stores. When making a purchase, seek out stores with the "VAT REFUND FOR TOURISTS" sign displayed and request for a VAT refund form. 

To qualify for VAT Refund, you must spend at least 2,000 THB per day at each store. Present the completed forms, receipts, and purchased goods at the VAT Refund Booth in the airport upon departure, making the most of your payment in Thailand.

For added convenience, you can also use the TAGTHAi Super App for Online VAT Refunds. This feature allows you to process your VAT refund requests directly through the app, making the process easier and quicker at the airport. Explore more about TAGTHAi Online VAT Refund for more details on how to use this feature.