Money & Costs
Standard banking hours are 8.30am to 3.30pm Monday to Friday, though some banks close at 4.30pm on Fridays, and almost every bank in Bangkok has at least one ATM. Banks or legal moneychangers offer the optimum foreign-exchange rates. When buying baht, US dollars and euros are the most readily accepted currencies and travellers cheques receive better rates than cash. British pounds and Australian dollars are also widely accepted. As banks often charge commission and duty for each travellers cheque cashed, you’ll save on commissions if you use larger cheque denominations.
By Thai law, any traveller arriving in Thailand is supposed to carry at least the following amounts of money in cash, travellers cheques, bank draft or letter of credit, according to visa category: Non-Immigrant Visa, US$500 per person or US$1000 per family; Tourist Visa, US$250 per person or US$500 per family; Transit Visa or no visa, US$125 per person or US$250 per family. Your funds might be checked by authorities if you arrive on a one-way ticket or if you look as if you’re at ‘the end of the road’. There is no limit to the amount of Thai or foreign currency you may bring into Thailand. Upon leaving, you are permitted to take no more than 50, 000B per person without special authorisation; exportation of foreign currencies is unrestricted.
Taxes & refunds
Thailand has a 7% value-added tax (VAT) on many goods and services. Mid-range and top-end hotels and restaurants might also add a 10% service tax. When the two are combined this becomes the 17% king hit known as ‘plus plus’, or ‘++’.
Visitors to Bangkok who depart by air and who haven’t spent more than 180 days in Thailand during the previous calendar year can apply for a VAT refund on purchases made at approved stores; look for the blue and white VAT Refund sticker. Minimum purchases must add up to 2000B per store in a single day, with a minimum total of 5000B. You must get a VAT Refund form and tax invoice from the shop. Most major malls in Bangkok will direct you to a desk dealing with VAT refunds, where they will organise the appropriate paperwork.
At the airport, large items should be declared at the customs desk, which will issue the appropriate paperwork; you can then check them in. Smaller items (such as watches and jewellery) must be hand-carried as they will need to be reinspected once you’ve passed immigration. Either way, you actually get your money at a VAT Refund Tourist Office , which at Suvarnabhumi are on Level 4 in both the east and west wings.
