Why you shouldnt carry cash in Thailand

[connda]

43 minutes ago, johng said:

isn't this a definition of fascism  government and corporations working together in lockstep ?

Shhhh.  No one is suppose to know! 

 

"Fascism recognises the real needs which gave rise to socialism and trade-unionism, giving them due weight in the guild or corporative system in which diverent interests are coordinated and harmonised in the unity of the State...
The Fascist State lays claim to rule in the economic field no less than in others; it makes its action felt throughout the length and breadth of the country by means of its corporate, social, and educational institutions, and all the political, economic, and spiritual forces of the nation, organised in their respective associations, circulate within the State."
― Benito Mussolini

I believe Mussolini and Giovanni Gentile envisioned the State itself as being the primary controller of all aspects of society, but in the last 20 years corporations have become founts of ungodly sums of revenues and profits and now can essentially buy governmental and political power, hence organizations like the WEF.  And a Fascist State works well for their interests as well.  Working hand-in-hand with the government, corporations can leverage the government to pave the way for laws which will increase corporate revenues and therefore power for corporations, and in turn they shower government entities and politicians with wealth which entrenches the politicians into their governments for lifetimes and allow those individual politicians to also accrue massive power.  So Public-Private Partnerships are a marriage made in Hell which benefits both the corporate and governmental stakeholders at the expense of the average man and woman on the streets who are looked upon by both governments and corporations as little more then livestock to be used, exploited, and then culled.  And the livestock commoners must be surveilled, watched, and controlled. 

A cashless society where governments and corporations monitor every satang spent by every individual pretty much borders on the ideals of the "Utopian F-word" that Mussolini and Gentile envisioned for the rest of us - commoners who must be controlled by the iron-hand of the State for the benefit of corporations and the State.

But nobody studies history, philosophy, economics, or sociology anymore, so most people don't have a clue. Most people are just pulled by their nose-ring down the kill-chute as they are told that sacrificing for the State is their patriotic duty. Austerity is good for the planet!  And as far as the average person goes nowadays, if it's not some super-star flashing their bacon and their bling on TikTok, most people don't care. 

 

"The perfect dictatorship would have the appearance of a democracy, but would basically be a prison without walls in which the prisoners would not even dream of escaping. It would essentially be a system of slavery where, through consumption and entertainment, the slaves would love their servitudes."
― Aldous Huxley

[Jimjim1]

4 hours ago, richard_smith237 said:

Tech has clearly passed you by and you are now responding out of paranoia.

 

There are risks with online digital systems - but you haven't addressed any of them in your comments. 

And you have written 3 posts denigrating me, one of which got someone laughing at your comments, one got you nothing and the last one got you bewilderment, ARE ‘nt doing well 

You should read your stupid comments again and learn.

[richard_smith237]

2 hours ago, Jimjim1 said:

And you have written 3 posts denigrating me, one of which got someone laughing at your comments, one got you nothing and the last one got you bewilderment, ARE ‘nt doing well 

You should read your stupid comments again and learn.

 

In your shoes I'd worry less about whatever emoji response another's post receives and instead spend the time understanding the tech you use if you are going to pass comment on it.

 

[ To denigrate - to criticise unfairly ]....     The criticism wasn't unfair if your comments are inaccurate !!

 

[CartagenaWarlock]

9 hours ago, EVENKEEL said:

Guess I'm a poor peasant with a butt load of cash. Poor me.

or a criminal who loves cash. 

[TheAppletons]

Traveller's cheques, lol.  

[animalmagic]

19 hours ago, Stocky said:

There's a missing decimal place, should be 4.6 million Malaysians visited Thailand, the total population of Malaysia is only 35 million.

That missing or incorrectly placed decimal point can do a lot of damage to your cashless payment!

[thrilled]

I’ve always carried baht in Thailand

[Luuk Chaai]

19 hours ago, connda said:

I carry cash all the time.  I hate getting stuck behind someone at the store who has to fiddle with their phone for 5 minutes to get their payment app to work - and it happen more often then not.  Me?  Get to the cash register, hand over cash, and the transaction is finished in 15 seconds. 

🤪 "But mobile payment is convenient!"

Bunk - no it's not.  Cash Is King!

 

takes most cashiers even longer to count the money ( at least 3 times ) to give you back your change

[newbee2022]

21 hours ago, CharlieH said:

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Photo by s money offical website

 

Greetings esteemed travellers. The allure of Thailand’s untouched beaches and vibrant culture is indeed compelling. This was evidenced by the impressive 28.09 million individuals who journeyed to this remarkable destination last year. However, before embarking on your voyage to this picturesque land, it is crucial to take into account certain financial considerations.

Recent modifications in policies have dictated that a sufficient amount of cash must be on hand for foreign tourists, which may pose a potential inconvenience. Many may question the need for physical currency in an era dominated by mobile payments and digital transactions. Nonetheless, having tangible monetary resources can prove beneficial while partaking in market commerce within Thailand.

However, do not let this deter you from actualizing your travel aspirations! There are efficient strategies available to circumnavigate these regulations without infringing upon any legal boundaries. We invite you to join us as we delve into the intricacies of managing cash flow within Thailand, ensuring nothing hinders your quintessential adventure.

 

Why you should consider not carrying cash in Thailand

Contents

• Why you should consider not carrying cash in Thailand
  • Safety concerns
  • Convenience factors
• Alternatives to carrying cash
  • Mobile payment options
  • Traveller’s cheques
• How to manage money safely in Thailand
  • Using ATMs wisely
• Benefits of a cashless approach in Thailand
  • Ease of transactions
  • Security advantages

While Thailand’s tourism popularity continues to escalate—with over 4.6 million Malaysian visitors last year—it’s crucial now, more than ever, to understand the unique travel requirements of the country. Weighing your options regarding carrying cash in Thailand can significantly streamline your visit. This comprehensive guide is designed to help you understand the potential rigours and rewards of carrying cash during your Thai vacation.

 

Safety concerns

While it’s practically impossible to eliminate the risk factor, carrying a lot of cash could heighten the possibility of becoming a theft target. A browser through Thailand’s social media pages exposes numerous cases of tourists victimised due to carrying large sums of money. Therefore, it’d be prudent to limit the amount of cash you carry. Use diverse methods of payment, for instance, mobile wallets, credit, or debit cards, such as TrueMoney Wallet. Highlighting its functionality, TrueMoney Wallet provides not only a digital form of your card but also features like topping up mobile credit, paying for purchases, and bill scanning.

Convenience factors

Photo by Iol

Although cash is still widely used in Thailand, a growth in digital payment methods is evident. With the influx of tourists from tech-savvy nations, cashless payment systems are being readily adopted, offering various advantages. Firstly, the convenience of not having to worry about customs declarations associated with carrying cash sums above THB 15,000 alleviates the stress associated with travel preparation. Furthermore, avoiding unnecessary money exchanges helps keep your travel costs down, a significant factor given the exchange rates’ volatile nature.

Subsequently, several hangouts, shops, and hospitality facilities in Thailand offer payment options like Mobile Pay or Credit Card; hence it’s becoming less necessary to carry excessive cash around.

Remember, optimizing your payment mode helps you navigate your visit to Thailand smoothly. Ensure you’re informed and make smart decisions.

Alternatives to carrying cash

As Thailand modernises its financial systems, you might find carrying cash less necessary. Alternative means of payment offer convenience, and security, and can significantly reduce the cost of transaction fees. It’s worth considering the following cash alternatives to enhance your financial freedom during your Thai adventure.

Mobile payment options

Photo by Pixabay

Fintech startups in Thailand are becoming a popular destination for cross-border remittances and local transactions. An apt example is the TrueMoney Wallet, a service launched by TrueMoney, which facilitates easy money transfers from Myanmar and Cambodia to Thailand. This is particularly useful for Thailand’s 3 million migrant workers – many of whom are unbanked – to conveniently transfer cash to their families, bypassing the need for a traditional banking transaction. With features such as bill payments, money sending and receiving, and online shopping, mobile wallets like TrueMoney can minimise the need to carry cash in Thailand.

 

Opt for these mobile payment options, enabling you to cut out the traditional banking system entirely and transition seamlessly into a cash-free environment.

Hey there, pal! Guess what? More and more people in Thailand are catching onto the credit and debit card trend. With ATMs sprouting like mushrooms everywhere, getting your hands on some cash has never been easier. But hold up a sec – you should know that some Thai ATMs might nick you an extra fee for transactions with international cards. So, keep this in mind when you’re sorting out your budget.

It’s probably a smart move to keep your foreign bank card handy as a ‘just-in-case’ backup. And hey, while you’re at it, why not give your bank a shout to see if they tack on any additional fees when using your card in Thailand?

Traveller’s cheques

Traveller’s cheques form another cash alternative. Albeit less popular than they once were, these cheques still provide a reliable means of securing your money while abroad. If lost or stolen, they can be replaced by the issuing company. Remember, however, to declare any negotiable monetary instruments at customs if they exceed $20,000 or its equivalent in your home currency.

Before embarking on your journey, equip yourself with an array of cash alternatives to best navigate Thailand’s evolving financial landscape, ensuring you fully enjoy your experience without the worry of losing cash.

How to manage money safely in Thailand

While roaming the scenic landscapes of Thailand, managing your money safely is a requisite task. Ascend your financial freedom beyond carrying cash, exploring secure and convenient alternatives. Let’s delve deeper into noteworthy considerations when using ATMs and when exchanging currency.

Using ATMs wisely

In Thailand, ATM usage, although convenient, imposes added costs. Designated as ATMs (automated telling machines), these cash points add a fee, mainly ranging from 220 Baht up to 250 Baht to the transaction, independent of your home bank’s fees. Therefore, foresee this expense whilst planning ATM transactions during your Thai escapade. Lesser ATM visits equate to lesser fees, allowing you to navigate Thailand’s terrains economically.

However, if you’re in Chiang Mai, options such as the SuperRich money exchange, strategically situated opposite the UN Irish Pub and on Loi Kroh Road, notoriously offer generous cash exchange rates compared to banks. The SK Exchange, located near the Iron Bridge and Night Bazaar area, lends competitive rates as well. Therefore, calculate your requirements wisely, comparing the ATM transaction cost against such lucrative exchange rates.

Benefits of a cashless approach in Thailand

Thailand’s evolving financial ecosystem simplifies transactions while bolstering security for residents and travellers alike. Let’s delve into the specifics.

Ease of transactions

Securing your Thai adventure without the burden of too much cash involves opting for mobile payment methods or credit/debit cards. With digital payments seeing a surge in Thailand, your smartphone serves as your wallet, making it exceedingly simple to navigate Thai commerce. For example, RabbitLINE Pay facilitates purchases from game items to insurance – all in a few taps on your phone. Digitising transactions liberates you from counting coins and notes, equipping you with a fluent, efficient way to handle money in Thailand.

Security advantages

Photo by corporatefinanceinstitute offIcal website

Accessing your funds digitally in Thailand also offers an added layer of security that carrying cash often lacks. When your spendings shift from physical to digital, incidents like theft or loss of money become a non-factor, as your funds remain secure in your bank or digital wallet. For instance, facilities in places like Donmuang Airport and places in Bangkok provide 24-hour service for secure digital transactions. Furthermore, if your phone or card gets lost or stolen, you can quickly immobilise your mobile wallet or card with a simple call to the service provider, safeguarding your monetary assets irrespective of your location within Thailand. That’s something carrying cash can’t guarantee.

With the convenience and security advantages on offer, opting for a cashless approach in Thailand blends technological advancement with everyday living, enhancing your Thai experience.

As you prepare to embark on your journey to Thailand, it is essential not to overlook the inclusion of a digital wallet. The transformation within Thailand’s financial landscape has highlighted the shift towards a cashless society. Utilising digital payments provides an increased level of convenience and security, negating the necessity for carrying substantial amounts of physical cash.

Opt for services such as RabbitLINE Pay for your transactions which guarantees smoothness in operation and assures safety. Notably, establishments in prime locations such as Donmuang Airport and Bangkok are equipped with the necessary support systems to facilitate your transition into this cashless mode of transaction around the clock.

Therefore, adapt to this innovation by transitioning towards cashless transactions during your stay in Thailand, ensuring an unforgettable experience while maintaining the utmost financial safety.

Going cashless can help you during your stay in Thailand but it will not save you from spending it wrong. There are 10 signs you’re spending money wrong In a world where the allure of instant gratification often overshadows the virtue of financial prudence, it’s alarmingly easy to fall into the trap of mismanaging one’s finances. The subtle art of spending money wisely is lost on many, leading to a cycle of financial strain that seems inescapable. Recognising the signs of poor spending habits is the first step towards cultivating a healthier relationship with your finances.

 

Original article

 

Any other tips n tricks you know? please share them with the community below........

🥱🥱🥱🥱🥱

[fiddlehead]

Travelers checks?  Really?  Did I read that right?      I can imagine the reaction trying to spend those at the farmers market.   

[Skipalongcassidy]

21 hours ago, CharlieH said:

 

 

Any other tips n tricks you know? please share them with the community below........

Here's a tip... grow up and learn how to act responsibly without your mommy holding your hand.

[Denim]

11 hours ago, connda said:

The perfect dictatorship would have the appearance of a democracy, but would basically be a prison without walls in which the prisoners would not even dream of escaping. It would essentially be a system of slavery where, through consumption and entertainment, the slaves would love their servitudes."

 

Sounds a lot like marriage

[klauskunkel]

22 hours ago, CharlieH said:

Designated as ATMs (automated telling machines)

as written by AIM (automated intelligence machines)

[animalmagic]

Visualizing Global Losses from Financial Scams (visualcapitalist.com)

Worldwide losses to digital fraud are almost half a trillion dollars, approximately the GDP of Singapore!

 

Another factor is the fact that the fees for using the digital currency platforms are hidden -

1. interchange
2. assessment
3. e-wallet
4. payment processing

These generally come out as a cost of business to the merchant who will then increase prices so the customer pays.

 

The Marsh McLennan Cyber Crime Handbook 2021 states that the Cybercrime landscape, of which Digital Fraud and Online Payment Fraud form part of the overall picture, also covers losses to the economy and corporations through hacking, data breaches and other forms of attack to create chaos and disrupt government and business operations.  The World Economic Forum’s 2019 Cybercrime puts economic losses from cybercrime in 2020 at 3 trillion USD and projected this to double to 6 trillion USD in 2021.  Of great concern is the fact that in many sectors the speed of digitalisation far outpaces the building of cyber defence capabilities and adaptation of overall risk management strategies.

[Peterphuket]

21 hours ago, connda said:

Signed,
Klaus Schwab

P.S.
You'll own nothing and you'll be happy.  And enjoy your vacation.  You commoner swill need to stop traveling in order to save the planet for global warming.  What?  My private jet.  Mind your own business commoners.  Shut up and eat the bugs!

They are trying to make us happy by announcing that Klaus will retire soon, but I guess some dumbo will replace him.

[EVENKEEL]

3 hours ago, CartagenaWarlock said:

or a criminal who loves cash. 

Unfortunately, that's the mindset of those who never had much money. 

[cjinchiangrai]

All well and good when it works. I have had numerous transactions refused. Electronic POS transactions are not fully developed like other places. 

[ThaiFelix]

21 hours ago, mikebike said:

I stopped reading the OP when it said ATMs are popping up everywhere in Thailand... All local reporting is that banks are decommissioning ATMs as fast as they can in the Kingdom.

Same here!  After I read the line "The allure of Thailand’s untouched beaches"  I realised the article was written decades ago, well before plastic bags and straws were even invented.                                       

[Brock]

The article actually seems to be an ad for true Money card..

 

[animalmagic]

11 minutes ago, ThaiFelix said:

  21 hours ago, mikebike said:

I stopped reading the OP when it said ATMs are popping up everywhere in Thailand... All local reporting is that banks are decommissioning ATMs as fast as they can in the Kingdom.

The current numbers of ATMs are unsustainable in terms of management and real estate costs.  As every ATM seems to allow other local banks and pretty much all foreign cards to access them there is little justification in maintaining the numbers.

Most banking systems are considering 'brown label or generic' ATMs as they do not see the need for the marketing of having their name on every corner ATM.  Similarly, the banking system is outsourcing much of its cash circulation to Cash Management Companies who run the armoured trucks and circulate the cash for use and collection; in advanced cases only sending back old and damaged notes to the Central Bank.  Filling up and servicing ATMs is not a highly skilled financial task, and banks save money by outsourcing.

[ThaiFelix]

3 minutes ago, animalmagic said:

The current numbers of ATMs are unsustainable in terms of management and real estate costs.  As every ATM seems to allow other local banks and pretty much all foreign cards to access them there is little justification in maintaining the numbers.

Most banking systems are considering 'brown label or generic' ATMs as they do not see the need for the marketing of having their name on every corner ATM.  Similarly, the banking system is outsourcing much of its cash circulation to Cash Management Companies who run the armoured trucks and circulate the cash for use and collection; in advanced cases only sending back old and damaged notes to the Central Bank.  Filling up and servicing ATMs is not a highly skilled financial task, and banks save money by outsourcing.

Wrong quote, not me,  try mikebike

[mancub]

14 minutes ago, Brock said:

The article actually seems to be an ad for true Money card..

 

Exactly that. sponsors of Asean news probably ! 

[mania]

22 hours ago, EVENKEEL said:

I feel the need to push a cashless agenda is an attempt to increase spending. If you lay down cash for your purchase you can regulate your spending better. 

This is why Casino's make you buy chips.....If you had to keep reaching for another $20 you wouldn't keep betting. But little colored chips? No Problem 😉 

[Bangkok Barry]

23 hours ago, connda said:

I carry cash all the time.  I hate getting stuck behind someone at the store who has to fiddle with their phone for 5 minutes to get their payment app to work - and it happen more often then not.  Me?  Get to the cash register, hand over cash, and the transaction is finished in 15 seconds. 

🤪 "But mobile payment is convenient!"

Bunk - no it's not.  Cash Is King!

 

I was at Don Mueang Airport last week and wanted a McDonald's breakfast. Used the order screen and it tried to include something I didn't want, I think as it was only two baht extra. I'm trying to cancel and swearing at the screen and an employee comes over. I said let's go to the till, I told her what I wanted and it was done and paid for in cash in less than 20 seconds. 20 seconds instead of two minutes. She saw the funny side, bless her.

 

On another note and related to businesses that refuse cash, s it even legal to refuse legal tender? If so, the world has turned upside down. Here's a thousand baht note. Cannot accept. Madness.

[SportRider]

12 minutes ago, Bangkok Barry said:

 

I was at Don Mueang Airport last week and wanted a McDonald's breakfast. Used the order screen and it tried to include something I didn't want, I think as it was only two baht extra. I'm trying to cancel and swearing at the screen and an employee comes over. I said let's go to the till, I told her what I wanted and it was done and paid for in cash in less than 20 seconds. 20 seconds instead of two minutes. She saw the funny side, bless her.

 

On another note and related to businesses that refuse cash, s it even legal to refuse legal tender? If so, the world has turned upside down. Here's a thousand baht note. Cannot accept. Madness.

I hate those things.  Always order at the counter. 

Last week at Burger King Pattaya I realised why they have become popular - so the restaurant can employ people with lower English skills. 

[CygnusX1]

18 hours ago, Jimjim1 said:

Every criminal knows that the majority of people have weak passwords on their telephones and getting into them is the easiest thing in the world to do.

They also know that by simply placing a password generator that can run a billion combination in an hour on the phone will give access to any who think about and use a stronger PW

I was under the impression that after, say, 10 attempts, the phone would be irreversibly locked, and could only be used again after a total reset that would erase all data on the phone. Serious question, as if I’m wrong, I’ll be seeing if I can change the 8 digit numeric codes I have on my phones to something more secure.

[digbeth]

19 minutes ago, Bangkok Barry said:

On another note and related to businesses that refuse cash, s it even legal to refuse legal tender? If so, the world has turned upside down. Here's a thousand baht note. Cannot accept. Madness.

 

Legal tender just means that cash must be accepted for debt, if both the buyer and seller agree to pay using whatever that's not cash that's okay.

If you go to a Starbuck that don't accept cash, they just refused to serve you... no debt incurred

 

if you went to a restaurant, start ordering and they served you and you discover later that they don't accept cash, that's not legal as now you have a debt to them, 

[johng]

15 hours ago, connda said:

"The perfect dictatorship would have the appearance of a democracy, but would basically be a prison without walls in which the prisoners would not even dream of escaping. It would essentially be a system of slavery where, through consumption and entertainment, the slaves would love their servitudes."

 

Ahh  such a brave new world !

 

 

[ujayujay]

On 5/22/2024 at 9:14 AM, CharlieH said:

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Photo by s money offical website

 

Greetings esteemed travellers. The allure of Thailand’s untouched beaches and vibrant culture is indeed compelling. This was evidenced by the impressive 28.09 million individuals who journeyed to this remarkable destination last year. However, before embarking on your voyage to this picturesque land, it is crucial to take into account certain financial considerations.

Recent modifications in policies have dictated that a sufficient amount of cash must be on hand for foreign tourists, which may pose a potential inconvenience. Many may question the need for physical currency in an era dominated by mobile payments and digital transactions. Nonetheless, having tangible monetary resources can prove beneficial while partaking in market commerce within Thailand.

However, do not let this deter you from actualizing your travel aspirations! There are efficient strategies available to circumnavigate these regulations without infringing upon any legal boundaries. We invite you to join us as we delve into the intricacies of managing cash flow within Thailand, ensuring nothing hinders your quintessential adventure.

 

Why you should consider not carrying cash in Thailand

Contents

• Why you should consider not carrying cash in Thailand
  • Safety concerns
  • Convenience factors
• Alternatives to carrying cash
  • Mobile payment options
  • Traveller’s cheques
• How to manage money safely in Thailand
  • Using ATMs wisely
• Benefits of a cashless approach in Thailand
  • Ease of transactions
  • Security advantages

While Thailand’s tourism popularity continues to escalate—with over 4.6 million Malaysian visitors last year—it’s crucial now, more than ever, to understand the unique travel requirements of the country. Weighing your options regarding carrying cash in Thailand can significantly streamline your visit. This comprehensive guide is designed to help you understand the potential rigours and rewards of carrying cash during your Thai vacation.

 

Safety concerns

While it’s practically impossible to eliminate the risk factor, carrying a lot of cash could heighten the possibility of becoming a theft target. A browser through Thailand’s social media pages exposes numerous cases of tourists victimised due to carrying large sums of money. Therefore, it’d be prudent to limit the amount of cash you carry. Use diverse methods of payment, for instance, mobile wallets, credit, or debit cards, such as TrueMoney Wallet. Highlighting its functionality, TrueMoney Wallet provides not only a digital form of your card but also features like topping up mobile credit, paying for purchases, and bill scanning.

Convenience factors

Photo by Iol

Although cash is still widely used in Thailand, a growth in digital payment methods is evident. With the influx of tourists from tech-savvy nations, cashless payment systems are being readily adopted, offering various advantages. Firstly, the convenience of not having to worry about customs declarations associated with carrying cash sums above THB 15,000 alleviates the stress associated with travel preparation. Furthermore, avoiding unnecessary money exchanges helps keep your travel costs down, a significant factor given the exchange rates’ volatile nature.

Subsequently, several hangouts, shops, and hospitality facilities in Thailand offer payment options like Mobile Pay or Credit Card; hence it’s becoming less necessary to carry excessive cash around.

Remember, optimizing your payment mode helps you navigate your visit to Thailand smoothly. Ensure you’re informed and make smart decisions.

Alternatives to carrying cash

As Thailand modernises its financial systems, you might find carrying cash less necessary. Alternative means of payment offer convenience, and security, and can significantly reduce the cost of transaction fees. It’s worth considering the following cash alternatives to enhance your financial freedom during your Thai adventure.

Mobile payment options

Photo by Pixabay

Fintech startups in Thailand are becoming a popular destination for cross-border remittances and local transactions. An apt example is the TrueMoney Wallet, a service launched by TrueMoney, which facilitates easy money transfers from Myanmar and Cambodia to Thailand. This is particularly useful for Thailand’s 3 million migrant workers – many of whom are unbanked – to conveniently transfer cash to their families, bypassing the need for a traditional banking transaction. With features such as bill payments, money sending and receiving, and online shopping, mobile wallets like TrueMoney can minimise the need to carry cash in Thailand.

 

Opt for these mobile payment options, enabling you to cut out the traditional banking system entirely and transition seamlessly into a cash-free environment.

Hey there, pal! Guess what? More and more people in Thailand are catching onto the credit and debit card trend. With ATMs sprouting like mushrooms everywhere, getting your hands on some cash has never been easier. But hold up a sec – you should know that some Thai ATMs might nick you an extra fee for transactions with international cards. So, keep this in mind when you’re sorting out your budget.

It’s probably a smart move to keep your foreign bank card handy as a ‘just-in-case’ backup. And hey, while you’re at it, why not give your bank a shout to see if they tack on any additional fees when using your card in Thailand?

Traveller’s cheques

Traveller’s cheques form another cash alternative. Albeit less popular than they once were, these cheques still provide a reliable means of securing your money while abroad. If lost or stolen, they can be replaced by the issuing company. Remember, however, to declare any negotiable monetary instruments at customs if they exceed $20,000 or its equivalent in your home currency.

Before embarking on your journey, equip yourself with an array of cash alternatives to best navigate Thailand’s evolving financial landscape, ensuring you fully enjoy your experience without the worry of losing cash.

How to manage money safely in Thailand

While roaming the scenic landscapes of Thailand, managing your money safely is a requisite task. Ascend your financial freedom beyond carrying cash, exploring secure and convenient alternatives. Let’s delve deeper into noteworthy considerations when using ATMs and when exchanging currency.

Using ATMs wisely

In Thailand, ATM usage, although convenient, imposes added costs. Designated as ATMs (automated telling machines), these cash points add a fee, mainly ranging from 220 Baht up to 250 Baht to the transaction, independent of your home bank’s fees. Therefore, foresee this expense whilst planning ATM transactions during your Thai escapade. Lesser ATM visits equate to lesser fees, allowing you to navigate Thailand’s terrains economically.

However, if you’re in Chiang Mai, options such as the SuperRich money exchange, strategically situated opposite the UN Irish Pub and on Loi Kroh Road, notoriously offer generous cash exchange rates compared to banks. The SK Exchange, located near the Iron Bridge and Night Bazaar area, lends competitive rates as well. Therefore, calculate your requirements wisely, comparing the ATM transaction cost against such lucrative exchange rates.

Benefits of a cashless approach in Thailand

Thailand’s evolving financial ecosystem simplifies transactions while bolstering security for residents and travellers alike. Let’s delve into the specifics.

Ease of transactions

Securing your Thai adventure without the burden of too much cash involves opting for mobile payment methods or credit/debit cards. With digital payments seeing a surge in Thailand, your smartphone serves as your wallet, making it exceedingly simple to navigate Thai commerce. For example, RabbitLINE Pay facilitates purchases from game items to insurance – all in a few taps on your phone. Digitising transactions liberates you from counting coins and notes, equipping you with a fluent, efficient way to handle money in Thailand.

Security advantages

Photo by corporatefinanceinstitute offIcal website

Accessing your funds digitally in Thailand also offers an added layer of security that carrying cash often lacks. When your spendings shift from physical to digital, incidents like theft or loss of money become a non-factor, as your funds remain secure in your bank or digital wallet. For instance, facilities in places like Donmuang Airport and places in Bangkok provide 24-hour service for secure digital transactions. Furthermore, if your phone or card gets lost or stolen, you can quickly immobilise your mobile wallet or card with a simple call to the service provider, safeguarding your monetary assets irrespective of your location within Thailand. That’s something carrying cash can’t guarantee.

With the convenience and security advantages on offer, opting for a cashless approach in Thailand blends technological advancement with everyday living, enhancing your Thai experience.

As you prepare to embark on your journey to Thailand, it is essential not to overlook the inclusion of a digital wallet. The transformation within Thailand’s financial landscape has highlighted the shift towards a cashless society. Utilising digital payments provides an increased level of convenience and security, negating the necessity for carrying substantial amounts of physical cash.

Opt for services such as RabbitLINE Pay for your transactions which guarantees smoothness in operation and assures safety. Notably, establishments in prime locations such as Donmuang Airport and Bangkok are equipped with the necessary support systems to facilitate your transition into this cashless mode of transaction around the clock.

Therefore, adapt to this innovation by transitioning towards cashless transactions during your stay in Thailand, ensuring an unforgettable experience while maintaining the utmost financial safety.

Going cashless can help you during your stay in Thailand but it will not save you from spending it wrong. There are 10 signs you’re spending money wrong In a world where the allure of instant gratification often overshadows the virtue of financial prudence, it’s alarmingly easy to fall into the trap of mismanaging one’s finances. The subtle art of spending money wisely is lost on many, leading to a cycle of financial strain that seems inescapable. Recognising the signs of poor spending habits is the first step towards cultivating a healthier relationship with your finances.

 

Original article

 

Any other tips n tricks you know? please share them with the community below........

No, I pay all my daily consumption in Cash

[johng]

56 minutes ago, digbeth said:

if you went to a restaurant, start ordering and they served you and you discover later that they don't accept cash, that's not legal as now you have a debt to them, 

 

Yes and to pay off that debt the restaurant should take legal tender..

or perhaps a week of washing the dishes ?