- Our Institute
Bringing Money into Thailand -- Traveler’s checks or an ATM or other bankcard are the easiest ways to bring money into Thailand. Hard currency (especially US dollar) traveler's checks are widely accepted and easily exchanged at banks for a small fee, and offer better rates of exchange than cash. Bank drafts and wire transfers charge a larger commission and can take a long time to process.
Banking -- Foreigners can easily open a savings account in Thai baht in Thailand (but a very steep minimum deposit, around US $10,000, is required to open a foreign currency account). There are 3 banks located on Campus; Siam Commercial Bank, Krungthai Bank and Bangkok Bank. Foreigners can easily open a savings account in Thai baht in these 3 banks. A valid passport and a minimum deposit (about 500 baht) are required, plus an initial fee of a few hundred baht. Monthly account fees are minimal. Large bank branches usually have English-speaking personnel. Most banks also issue an ATM card immediately for a fee of around 200 baht. ATMs are plentiful in cities throughout the country, and cards can be used in the ATMs of different banks and in some cases overseas. Many ATMs accept foreign cards on standard systems such as Plus, Star, Cirrus, Maestro, Visa and MasterCard.
Credit Cards -- Major international credit cards such as American Express, Diners, Carte Blanche, MasterCard and VISA are widely accepted in Thailand.
Expect to spend about 10,000 - 20,000 per month for living expenses, including accommodation. Prices vary widely and living costs depend largely on whether one shop in cheap markets or ritzy shopping malls, eats at home, at street stalls or fancy restaurants, etc.