Need a Higher Value banknote ?

[mandee]

The tedious process of counting out and carrying bulky packs of 1000's for everday needs makes me wonder if Thailand might issue

some tender of say 20K etc.

[manarak]

I think I remember a 10.000 baht note has been considered.

I would welcome that move, because when it comes to pay for house deposits, cars, etc. the volume of the 1000 notes can be a disturbance in some cases.

[beachproperty]

I've lost count of the number of times that I have given a "1000 baht Note" to a vendor or taxi driver only to be told they don't have change. So, I don't think a higher value note will be coming in the future for a while.

Nice thought though

[Jip99]

No necessity.

I doubt most people's everyday needs extend to using too many 1,000 notes.

In a country rife with corruption and fraud I doubt the authorities would want anything higher than 1,000.

Ever tried passing a 100 Dollar note in Cambodia ?

[h90]

I think I remember a 10.000 baht note has been considered.

I would welcome that move, because when it comes to pay for house deposits, cars, etc. the volume of the 1000 notes can be a disturbance in some cases.

well such things are often paid per cheque...something I have seem last 25 years ago in Europe

[manarak]

I think I remember a 10.000 baht note has been considered.

I would welcome that move, because when it comes to pay for house deposits, cars, etc. the volume of the 1000 notes can be a disturbance in some cases.

well such things are often paid per cheque...something I have seem last 25 years ago in Europe

yes, the big amounts by cashier cheque, smaller amounts under approx. 300.000 are still often paid in cash

[dontscrewmyday]

Measuring in at roughly the size of a sheet of legal paper, the world's largest single banknote is the 100,000-peso note created by the government of the Philippines in 1998. Designed to celebrate a century of independence from Spanish rule, the note was offered only to collectors, who could purchase one of the limited-edition notes for 180,000 pesos, or about $3,700.

Read more: The Largest Banknote - Top 10 Things You Didn't Know About Money - TIME http://content.time.com/time/specials/packages/article/0,28804,1914560_1914558_1914575,00.html #ixzz2vRQLjjH2

[billd766]

Beware of going they way of the Weimar Republic of Germany in the 1920s when you needed a wheelbaroow full of money just to buy a loaf of bread.

Zimbabwe has NO national currency at this time. Their banknotes when last issued ranged from 10 Zim dollars to 100 Bn zim dollars.

Zimbabwe's peak month of inflation is estimated at 6.5 sextillion percent in mid-November 2008.

In 2009, Zimbabwe abandoned its currency. As of 2014, Zimbabwe still has no national currency; currencies from other countries are used.

Wiki link http://en.wikipedia.org/wiki/Hyperinflation_in_Zimbabwe

[Seastallion]

Measuring in at roughly the size of a sheet of legal paper, the world's largest single banknote is the 100,000-peso note created by the government of the Philippines in 1998. Designed to celebrate a century of independence from Spanish rule, the note was offered only to collectors, who could purchase one of the limited-edition notes for 180,000 pesos, or about $3,700.

Read more: The Largest Banknote - Top 10 Things You Didn't Know About Money - TIME http://content.time.com/time/specials/packages/article/0,28804,1914560_1914558_1914575,00.html #ixzz2vRQLjjH2

I'm sure I've seen Burmese kyat notes for more than 100,000. But I could be wrong. I think Zimbabwe had much higher denominations.

To the OP....yes, a higher denomination would be useful to a few people from time to time, but I wonder if a bank note equal to twice the monthly salary of a labourer would have much use for the general public.

I think you are still in the currency conversion mindset and thinking in terms of your home country "dollars" as compared to baht. If you paid for a car in (say) the US, would you expect to have $1000 notes?

[Jip99]

À wider issue that would help immensely would be greater use of chip and pin at point of sale. Not wasting time getting the customer to sign unnecessarily - just a quick swipe, 4 digit pin, done.

Anyone who has stood behind the noodle stand lady paying her 7,000 Baht Makro bill with 20 Baht notes - counted at least twice by the cashier - will recognise the benefits

[mandee]

My mindset for currency is Pounds Shillings and Pence..I left UK before decimal currecy and on my few returns have said at time 75p for a beer !

that's 15 shillings, only 11pence a pint when I was here last.

Measuring in at roughly the size of a sheet of legal paper, the world's largest single banknote is the 100,000-peso note created by the government of the Philippines in 1998. Designed to celebrate a century of independence from Spanish rule, the note was offered only to collectors, who could purchase one of the limited-edition notes for 180,000 pesos, or about $3,700.

Read more: The Largest Banknote - Top 10 Things You Didn't Know About Money - TIME http://content.time.com/time/specials/packages/article/0,28804,1914560_1914558_1914575,00.html #ixzz2vRQLjjH2

I'm sure I've seen Burmese kyat notes for more than 100,000. But I could be wrong. I think Zimbabwe had much higher denominations.

To the OP....yes, a higher denomination would be useful to a few people from time to time, but I wonder if a bank note equal to twice the monthly salary of a labourer would have much use for the general public.

I think you are still in the currency conversion mindset and thinking in terms of your home country "dollars" as compared to baht. If you paid for a car in (say) the US, would you expect to have $1000 notes?

[Tywais]

À wider issue that would help immensely would be greater use of chip and pin at point of sale. Not wasting time getting the customer to sign unnecessarily - just a quick swipe, 4 digit pin, done.

I now have a NFC compliant smartphone but doubt will ever be able to use it for bill payments in Thailand in the foreseeable future. However TOT has announced they are rolling it out. http://www.nfcworld.com/2013/12/04/327189/tot-launch-nfc-payments-thailand/

[Seastallion]

À wider issue that would help immensely would be greater use of chip and pin at point of sale. Not wasting time getting the customer to sign unnecessarily - just a quick swipe, 4 digit pin, done.

Anyone who has stood behind the noodle stand lady paying her 7,000 Baht Makro bill with 20 Baht notes - counted at least twice by the cashier - will recognise the benefits

Agree, but the issue is that the populace do not trust "electronic" money. They need to see the notes in hand. EFTPOS would be a boon to the country.

We can only wait for self-checkout aisles at supermarkets!! I'll be in my dotage when that happens in Thailand!

[Mentors]

I have a 1 Billion Deutsch Mark Note. Unfortunately the note have not the same value anymore...

[speedtripler]

i sold a house for 2 million in cash to a young policeman

[Gsxrnz]

i sold a house for 2 million in cash to a young policeman

Can I please have my 400 Baht back?

[manarak]

I have a 1 Billion Deutsch Mark Note. Unfortunately the note have not the same value anymore...

You will probably find these are Reichsmark, and not Deutsche Mark.

[manarak]

Measuring in at roughly the size of a sheet of legal paper, the world's largest single banknote is the 100,000-peso note created by the government of the Philippines in 1998. Designed to celebrate a century of independence from Spanish rule, the note was offered only to collectors, who could purchase one of the limited-edition notes for 180,000 pesos, or about $3,700.

Read more: The Largest Banknote - Top 10 Things You Didn't Know About Money - TIME http://content.time.com/time/specials/packages/article/0,28804,1914560_1914558_1914575,00.html #ixzz2vRQLjjH2

I'm sure I've seen Burmese kyat notes for more than 100,000. But I could be wrong. I think Zimbabwe had much higher denominations.

To the OP....yes, a higher denomination would be useful to a few people from time to time, but I wonder if a bank note equal to twice the monthly salary of a labourer would have much use for the general public.

I think you are still in the currency conversion mindset and thinking in terms of your home country "dollars" as compared to baht. If you paid for a car in (say) the US, would you expect to have $1000 notes?

There are countries with a culture of high value notes and there are the other countries.

In Germany, we had 1000 DM notes and in Switzerland, we still have 1000 CHF notes. And yes, they are useful. I remember the times where I brought cash to Thailand in 1000 CHF notes. Hand over 5 notes, get 150+ kTHB back.

Beats bringing a bundle of 50x 100 CHF notes!

It's just more convenient.

And what does the average labourer's salary have to do with it? Large denominations are obviously useful for people using larger amounts of cash, not for labourers. Is there a ban of doing anything if it's not useful for the average labourer?

[KhunBENQ]

Highest demoninations in use:

USD 100 ~ 3200 THB

EUR 500 ~ 22000 THB

CHF 1000 ~ 36000 THB

I think a 5000 THB note would be a good start.

[Swiss1960]

In theory, higher denomination bank notes are a good idea (maybe 5'000 for Thailand), but the risk is that they will be hardly accepted at point of sales when the amount to pay is small - imagine everybody going to 7/11 to pay their 80 Baht buy with a 5'000 note... the shop will run out of cash within minutes...

Even in Switzerland, there are many shops who do NOT accept the 1'000 denomination notes for small transactions.

[chrisinth]

The problem (or rather one of them) with introducing a larger denomination note is that it would have a ripple effect throughout the retail world where retailers would be forced to have more money available for change.

As an example, imagine a busy bar where the average customers consume say six beers each. If every customer checked bin with the highest denomination bill available, then that ends up with quite a substantial 'float' for the establishment. Getting extra security to protect said float would be an additional overhead for the owner.

As said, this is only an example, think about all the small shops, restaurants, 7/11's, etc who would have to account for change given, using the worst case scenario of highest denomination notes being used.

If it was issued only for large purchases, then good idea. Unfortunately it doesn't work that way, if it is legal currency, then it can be used anywhere. It also means that the consumer/customer would end up carrying possible more than they needed to.

Possible temptation for some................

IMHO off course......................

[Torrens54]

I think I remember a 10.000 baht note has been considered.

I would welcome that move, because when it comes to pay for house deposits, cars, etc. the volume of the 1000 notes can be a disturbance in some cases.

well such things are often paid per cheque...something I have seem last 25 years ago in Europe

I must move in the wrong circles.

In 30+ years of visiting and/or living in Thailand, including working for many years with a Thai Government Department, no one has ever given me a Cheque. Always been Bank Transfers for large sums, even deposit on house, full payment for house, car etc.Having said that, I would be in favour of the introduction of a 10K Baht note.

[LookChang]

Not sure it's a wise idea !

I remember when the 1,000 baht note was introduced in the mid 90s, the bargirls who used to charge no more than 500 baht for their "one night service" quickly doubled their fee in a few months to pocket the new note !

[Water Buffalo]

Hmm.. It would be nice to have it available in some circumstances, but i don't think it would circulate well. You ever tried giving a taxi driver a 1000? or even a 500? For most everyday things here 1000 is too big. Except Tesco and 7 Eleven who always have change.

[jacko45k]

I've lost count of the number of times that I have given a "1000 baht Note" to a vendor or taxi driver only to be told they don't have change. So, I don't think a higher value note will be coming in the future for a while.

Nice thought though

I think it would be useful, like the £50 note in the UK, people rarely use them for day to day spending.

A 10,000 baht note, perhaps issued by banks for people withdrawing large sums,would be a good idea.

There is a certain service one can buy where I live that is approaching that price.......

[Berkshire]

I've lost count of the number of times that I have given a "1000 baht Note" to a vendor or taxi driver only to be told they don't have change. So, I don't think a higher value note will be coming in the future for a while.

Nice thought though

Agree. I can just see tourists trying to pay vendors 40 bt with a 10,000 bt bill--and get upset if the vendor doesn't have the proper change!

Since we're talking currency, Thailand should eliminate all those satang coins. Near worthless. Personally, I think they should unload the 1 baht coins as well.

[smileydude]

I don't think its necessary. It would be a convenience for too few daily transactions to make it feasible. I'm just glad we don't commonly price things like in the US at 149.99 baht as a psychological gimmick.

Isn't it about time we got rid of the 25 and 50 satang instead? I never use those darn things and they end up all over the place.

[Tywais]

I've lost count of the number of times that I have given a "1000 baht Note" to a vendor or taxi driver only to be told they don't have change. So, I don't think a higher value note will be coming in the future for a while.

Nice thought though

Agree. I can just see tourists trying to pay vendors 40 bt with a 10,000 bt bill--and get upset if the vendor doesn't have the proper change!

Since we're talking currency, Thailand should eliminate all those satang coins. Near worthless. Personally, I think they should unload the 1 baht coins as well.

Don't forget the 2 baht coin. You know, the ones where most have written 2 on them in ink to distinguish them.

[wym]

There is a certain service one can buy where I live that is approaching that price.......

Do tell.

the motocy hit men been raising their rates out your way have they?

[Toby Jugg]

Should the authorities (sic) not be thinking of introducing a twenty and/or twenty-five baht COIN,

abandoning the green note and also those tiny satang coins which slip through holes in my pocket?

For taxis always carry plenty of fifty baht notes: that is why they are so rare.