Thursday, February 25, 2010

Money

The Basics- The currency in Thailand is the Thai Baht. Baht coins are in denominations of 1, 2, 5, and 10. Baht bills are in denominations of 20, 50, 100, 500, and 1,000. It's a cash-dominated city, so you'll catch on quickly.



ATMs
There are ATMs for all of the major Thai banks at every BTS and MRT stop. You can also find an ATM at almost every 7-11. If you're using a Thai ATM card, very few of the Thai banks charge fees for using different ATMs- but if they do, the fee is usually 5-10 baht (20-30 cents).
If you're using your American ATM card, you will be charged about 150 baht ($5) from the Thai bank as well as charged by your American bank.

Getting Set Up
Your company or your school, depending on which you work for, will set this up for you. At Systems you are paid with direct deposit every 2nd of the month, and overtime on the 5th. Chitralada teachers are paid in the middle of the month.

Money Exchange
Where do you go in Bangkok if you need your money exchanged or traveler's checks cashed? The best place is the Siam stop on the BTS. It's the most popular tourist area (shopping, events everywhere) so there are several of the biggest bank branches. The workers all speak great English and they're very efficient. Just don't forget your passport!

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