Why are 50 and 500 baht currency notes used sparingly?

[mogandave]

Interesting data.  I'd love to know what the "etc" notes are.  Never seen any in circulation.

The 10 baht used to be somewhat common, that likely accounts for a lot of them.

I think a lot of things cost 20, that may be why it is so popular.

I do not have any trouble confusing the 20s & 50s, nor do I have trouble mixing up US money either.

The $50 is not popular in the US either

[thrilled]

When I go to A bank and change $100 into baht,many times A ask for 500 and 20 baht cause I hardly ever have any.I will have 1000,100 and 20 baht only.

and your right you will hardly ever get 500 baht or 50 baht change.

[IAMHERE]

'5' is a lucky number; keep all you can, at least one of each. The five baht coin also.

 

[Lacessit]

1 hour ago, smotherb said:

Yeah, but the numbers are different. Of course, that's what I tell all the Eurps who claim the US notes are all the same color and size.

Forgery of the USD is the favoured target all over the world. Virtually no-one tries to forge the AUD because 1/ Not enough of them around 2/ Too difficult with the plastic note technology.

[pearciderman]

4 hours ago, quandow said:

I just LOVE it when I hand a 20 baht note to a song tow driver and get ten one-baht coins in return. We ALWAYS exchange a glance where I let them know they are NOT going to be on my Christmas list.

 

Why, because he gave you the correct change in legal tender? You need to look in the mirror and see where the problem lies!

[mogandave]

Forgery of the USD is the favoured target all over the world. Virtually no-one tries to forge the AUD because 1/ Not enough of them around 2/ Too difficult with the plastic note technology.

Well, that and you can spend it anywhere.

Taiwan makes your money for you...how funny is that?

[Lacessit]

1 hour ago, mogandave said:

 

Well, that and you can spend it anywhere.

Taiwan makes your money for you...how funny is that?

I assume you're referring to the USD. The AUD is printed at only one location just north of Melbourne, Australia. Which Americans insist on pronouncing MelBORN, despite our efforts to educate them. It's MelBUN.

[mogandave]

I assume you're referring to the USD. The AUD is printed at only one location just north of Melbourne, Australia. Which Americans insist on pronouncing MelBORN, despite our efforts to educate them. It's MelBUN.

I always heard it “Mel-burn, where the women are women, and the men are too.”

[Lacessit]

Just now, mogandave said:

 

I always heard it “Mel-burn, where the women are women, and the men are too.”

 

I suggest a good syringing.

[smotherb]

2 hours ago, Lacessit said:

Forgery of the USD is the favoured target all over the world. Virtually no-one tries to forge the AUD because 1/ Not enough of them around 2/ Too difficult with the plastic note technology.

Well, why do you think US currency is the counterfeiter's favorite? Aussie currency is little used, but US currency is the world standard with over $1T in use. However, its world-wide recognition in itself is a reason not to change it; it is recognized and accepted because of what it is. And, US micro-optics technology makes it much harder to counterfeit now.

[apophyss]

I miss a 200 bahts, and i would like money changers to stop give 1000 but 500

(only hotel you pay near 1000, for every day, you dont need)

[MyFriend You]

14 hours ago, KhunBENQ said:

None of the explanations convinces me.

I can't see a logical reason why they don't use the 1,2,5,(10,20,50,100, 200, 500, 1000) principle like many currencies.

And why expect logic as long as they don't face the reality and introduce 2000 and 5000 Baht notes.

I am still waiting for the Vietnam Dong to knock off 3 zero's from their currency to make it easier to figure out  22,000 dong for 1$$.........

[MyFriend You]

8 hours ago, mogandave said:

 

The 10 baht used to be somewhat common, that likely accounts for a lot of them.

I think a lot of things cost 20, that may be why it is so popular.

I do not have any trouble confusing the 20s & 50s, nor do I have trouble mixing up US money either.

The $50 is not popular in the US either

 

10 baht bills - I see them around still, get the from SongTaew drivers, give them back as well.  The US $50 is quite popular in Vietnam, as it is only 1,000,000 dong.  When ever I am in the States, I get a stack of US $2 notes that I give away as gifts during Buddhist holidays, they are unique and arguably the nicest of all our bills, the artwork is incredibly detailed.

 

[samsensam]

17 hours ago, lopburi3 said:

Actually 500 baht used to be very common upcountry and what most ATM's stocked - not sure if still true or not but 1,000 much more common in cities.  The 50 baht has never been popular as too easy to mistake for a 20 baht and it a bit like the 2 dollar bill in USA - not really needed.

 

I suspect the PI issue has more to do with their banking system and need to have as little cash on hand as required more than the poverty issues. 

 

The 50 baht has never been popular as too easy to mistake for a 20 baht

 

eh? am is missing something?!

[NancyL]

I hate the way some expat live off of 1000 baht notes from ATM machines and are too lazy to walk into the bank behind the ATM machine and get smaller bank notes.  Instead, they think they can fob off the 1000 baht notes on small business in the neighborhood to get the small notes they need.

 

Just today, I meet some friend to chat and one guy presented a 1000 baht note for a 15 baht soda.  The restaurant owner had already explained how she'd had an unexpectedly busy night the night before and really hadn't expect customers so early, how she'd run out of of rice and all she could do was give us something to drink while she prepared for the evening.  This is a new restaurant and the Thai woman is clearly overwhelmed.  Really -- 1000 baht for a 15 baht drink?  Needless to say, I gave her 100 baht for the three of us and told her to keep the change.

 

Hubby or I go to the ATM outside our local Bangkok Bank branch twice a month and withdraw 25,000 baht and go inside and get 10,000 baht in 100s and 2000 baht in 20s.  Seems to work well for us.

 

And yes, I agree that it's just too easy to confuse 50s with 20s when you get old and have to do things like make payments in low light restaurants.

[Inepto Cracy]

I was told last week at a bank to keep the old notes, as their face value will increase with the new series of notes coming out soon, very soon and the older notes will become rearer as the new series replace the old notes.

The better condition the older note is in, the higher the face value becomes.

I did not think you were allowed to hoard money like that and keep it out of circulation.

Makes some sense to some folks out there.

Edited May 14, 2018 by Inepto Cracy
grammer

[blackcab]

Give it 10-20 years and most people will be using plastic/electronic transfer. It's already that way in the US, so after a decade or two Thailand will probably be doing the same thing.

 

The company I work for owns Thai-style apartment buildings with rents in the 3,000 baht range. Three years ago about 5-10 per cent of the tenants paid by bank transfer. Now about 50 per cent pay by bank transfer.

 

Other apartments around us do not allow rent to be paid to them in cash at all, and we will probably be doing the same thing from the start of next year.

 

Or did I get it wrong? Will cash always be preferred, even by the younger, online generation?

[Juan B Tong]

Obviously various political parties are beginning to hoard the 500 Bhat notes in hopes of an election.

[mogandave]

Give it 10-20 years and most people will be using plastic/electronic transfer. It's already that way in the US, so after a decade or two Thailand will probably be doing the same thing.
 
The company I work for owns Thai-style apartment buildings with rents in the 3,000 baht range. Three years ago about 5-10 per cent of the tenants paid by bank transfer. Now about 50 per cent pay by bank transfer.
 
Other apartments around us do not allow rent to be paid to them in cash at all, and we will probably be doing the same thing from the start of next year.
 
Or did I get it wrong? Will cash always be preferred, even by the younger, online generation?

More and more companies are compelling workers to open savings accounts to receive direct deposit, that may account for the big increase in transfers.

The cost burden on small businesses has a lot to do with the slow adoption of non cash payments, particularly in the more rural areas.

[jacko45k]

18 hours ago, HooHaa said:

no they do not look similar, and the size is appreciably smaller.

 

And i cant say i have noticed a dearth of either.

In fact a survey of the thai cash i have on hand,  includes 2 500 notes and 3 50's

I feel it is easy to mix a 50 and a 20 in low light.. they deliberately mix 50s in when you get your change in night time establishments in a hope that will be the 'tip'....

I don't have much need for 50s, but they certainly are given rarely in change in supermarkets, despite my sometimes rounding it off with coins.. I will get 20s and coinage back. 

Forever short of 500s, the shops seem to be too, as another poster stated I will often get 5x100 in change. I even go to the teller and get some 500s after withdrawing from the bank ATM to supplement what I have. 

My survey, no darned 50s again for the water delivery tomorrow!

Edited May 15, 2018 by jacko45k

[MaxYakov]

Has anyone noticed how closely the Thai paper notes colors resemble Monopoly^TM  (the game) money (the twenty, fifty and 100 anyway)? Anyone notice how often we treat it as if Thai paper notes were money from the game and spend it frivolously?

 

[mogandave]

Has anyone noticed how closely the Thai paper notes colors resemble Monopoly^TM  (the game) money (the twenty, fifty and 100 anyway)? Anyone notice how often we treat it as if Thai paper notes were money from the game and spend it frivolously?
 

Yes, like Monopoly, I have all my money in houses and lots.....whorehouses and lots of booze...

[alien365]

5 hours ago, NancyL said:

I hate the way some expat live off of 1000 baht notes from ATM machines and are too lazy to walk into the bank behind the ATM machine and get smaller bank notes. 

 

Really -- 1000 baht for a 15 baht drink? 

I haven't seen enough westerners to see what they hand over but I've seen plenty of Thais pay for a 7baht water with a 1,000 as I'm waiting for my local coffee. I look on in disbelief.

 

Personally I just withdraw 900 from the ATM

[owl sees all]

16 hours ago, DiDiChok said:

If I find an ATM that has no thousands, I usually withdraw ฿10,000 to try to get hold of a stack of five hundreds.

That is the answer; at least to the 500s. You only want a few farangs doing the same and the 500s would dry up altogether. I personally like the 500 note; got a few stashed away.

 

Didn't Thailand have a strange denomination note a while back; as in 78 Baht or 69 Baht or similar?

 

I reckon a 99 Baht note would be handy.

 

As for the UK!! when I was last there, they had a heavy 2p coin. Just imagine; 50 of these just for a squid. No wonder everyone was walking about with the strides at half mast.

Edited May 15, 2018 by owl sees all

[seancbk]

5 hours ago, blackcab said:

Give it 10-20 years and most people will be using plastic/electronic transfer. It's already that way in the US, so after a decade or two Thailand will probably be doing the same thing.

 

The company I work for owns Thai-style apartment buildings with rents in the 3,000 baht range. Three years ago about 5-10 per cent of the tenants paid by bank transfer. Now about 50 per cent pay by bank transfer.

 

Other apartments around us do not allow rent to be paid to them in cash at all, and we will probably be doing the same thing from the start of next year.

 

Or did I get it wrong? Will cash always be preferred, even by the younger, online generation?

 

I would love to be able to use digital payments for everything.   It will happen a lot sooner than 10 years.

 

[HooHaa]

1 hour ago, MaxYakov said:

Has anyone noticed how closely the Thai paper notes colors resemble Monopoly^TM  (the game) money (the twenty, fifty and 100 anyway)? Anyone notice how often we treat it as if Thai paper notes were money from the game and spend it frivolously?

 

certainly no more so than the philipine peso, or, the euro for that matter

[NancyL]

1 hour ago, MaxYakov said:

Has anyone noticed how closely the Thai paper notes colors resemble Monopoly^TM  (the game) money (the twenty, fifty and 100 anyway)? Anyone notice how often we treat it as if Thai paper notes were money from the game and spend it frivolously?

 

With this comment, you're demonstrating that you're just a tourist and not a full-time resident of Thailand.  I found that it didn't take too long before I started to think of prices and the cost of things in terms of baht.  In fact, I now find that in planning holidays and major purchases, it's difficult for me to think in terms of dollars and I have to convert quotes to Thai baht to really understand how much something is going to cost.

 

Recently, I went to the U.S. for the first time in ten years and found the money difficult to manage.  All the same color and size.  How did I get along all those years?

[Lacessit]

12 hours ago, smotherb said:

Well, why do you think US currency is the counterfeiter's favorite? Aussie currency is little used, but US currency is the world standard with over $1T in use. However, its world-wide recognition in itself is a reason not to change it; it is recognized and accepted because of what it is. And, US micro-optics technology makes it much harder to counterfeit now.

Valid point. However, I would not get too smug about it. The Chinese are coming, they've already replaced the US as the world's biggest steel producer. Now they are looking to replace the USD as the world's reserve currency. Trump can bluster as much as he wants, the fact remains US politicians sold out America's manufacturing industry years ago. He's not bringing it back. Service industries and software only goes so far in propping up an economy. American shale oil is a Red Queen's race. Why do you think the Chinese and Indians are buying gold hand over fist?

[mogandave]

Valid point. However, I would not get too smug about it. The Chinese are coming, they've already replaced the US as the world's biggest steel producer. Now they are looking to replace the USD as the world's reserve currency. Trump can bluster as much as he wants, the fact remains US politicians sold out America's manufacturing industry years ago. He's not bringing it back. Service industries and software only goes so far in propping up an economy. American shale oil is a Red Queen's race. Why do you think the Chinese and Indians are buying gold hand over fist?

What’s the margin on raw steel?

If the Chinese want to desecrate their environment producing steel they have to export at a loss I see no reason to stop them.

When the RMB/CNY replace the USD, and the value of the USD plummets, who’s going to buy all their crap?

[55Jay]

^ ^ Good one!  We came out of the sandbox/GCC where we used Dinar, and Dollars on American military bases; and of course different currencies when traveling around GCC, and other spots in the region.  Doing a quick mental conversion to gut check a price and value, was muscle memory.

 

For about a year or so after moving here, I still converted Baht to Dinars, automatic cross ref to Dollars.   The only hanging chad now is air tickets, in particular to the US.  I still search and evaluate prices in Dollars, although the final, on-line purchase transaction is in Baht.  Flying domestically, I think in Baht.  LOL.

Edited May 15, 2018 by 55Jay