ATM Fees and Currency Exchange in Thailand: How Not to Lose Money?

The Fee That Surprises Many Travelers

ATMs in Thailand charge a relatively high fixed withdrawal fee — per withdrawal (the amount varies between banks and can change over time, so check it on the ATM screen before confirming), regardless of the amount withdrawn. This means withdrawing 500 baht 'costs' relatively much more than withdrawing 10,000 baht, percentage-wise.

How to Minimize the Damage

The simplest strategy: withdraw larger amounts less often, instead of small, frequent withdrawals. If your card also includes an additional conversion fee from your bank in Israel, worth checking that in advance — some Israeli banks and cards offer significantly better travel terms than others.

Currency Exchange — Not Every Counter Is Equal

Exchange counters at airports tend to offer the worst rate — clear preference for exchange counters in the city (you'll usually find better rates at exchange counters run by well-known chains) or simply withdrawing from an ATM instead of exchanging cash in advance.

A useful rule of thumb: if an exchange counter 'charges no fee' — it almost always means the rate itself already includes the fee, hidden inside it. Worth comparing the actual rate, not just looking for 'no fee'.

How Much Cash to Bring in Advance

Not worth bringing a lot of shekels or dollars to exchange in Thailand — better to arrive with a bit of local baht cash (can be ordered in advance at a bank in Israel) for immediate needs, and continue withdrawing from ATMs as needed instead.

A dedicated travel card (not your regular credit card) usually offers significantly better conversion terms for ATM withdrawals abroad — worth getting one before the flight if you don't have one yet, the difference over a whole trip can add up to tens of dollars.

Self-Service Exchange Machines

There are also automatic exchange machines in some malls and tourist areas — usually offer a relatively reasonable rate, but usually less good than regular city exchange counters. Useful mainly when there's no exchange counter nearby and you need cash immediately, not as a main strategy.

How Many Fees to Expect in Total

For a two-week trip with measured (not too frequent) withdrawals, reasonable to expect a few withdrawals in total, so the accumulated withdrawal fees, before the Israeli bank's own conversion fee, are an amount worth calculating in advance. That way it's not a surprise that wrecks the overall budget.

For a longer trip (a month or more), especially worth investing time checking a travel card with good terms before departure — the accumulated difference over a long time is much more significant than for a short trip.

Which ATM to choose

Prefer an ATM attached to a bank branch or located in a well-lit, secure place, rather than a lone machine in a dark corner. Cover the keypad while typing your PIN, and check that there is nothing suspicious on the card slot. If the ATM swallows your card, contact the operating bank immediately. It is also worth keeping the receipt until you check the charge in your account. More details are in the money management guide.

Being charged in the local currency

Sometimes the ATM or the register offers to charge you in your home currency rather than baht. The offer sounds convenient, but its rate is usually less favorable. Choose to be charged in baht, and decline the proposed conversion. That way you leave the conversion to your own bank or card company, whose rate is usually better. Check with your bank what the rate is and how fees are calculated before you leave.

What to prepare before the flight

Before the trip make sure your card works abroad, and check daily withdrawal limits. It is better to find out what your bank offers travelers, and perhaps get an additional card as a backup. Prepare a little local cash for first needs such as the ride from the airport. More on choosing between cash and card in credit cards vs cash. Tips for spending are in the daily budget guide.

Small notes and notes in good condition

An ATM usually gives large notes, which are hard to break at small stalls and in a tuk-tuk. Break them at convenience stores or larger restaurants, and always keep small notes in a separate pocket. Torn or badly crumpled notes are sometimes not accepted, so check them. That also makes tipping easier. For more information see the tipping culture guide.

Planning your last withdrawal before the flight

In the last days of the trip, plan your withdrawals so that not much local cash is left over. You can spend the balance on souvenirs, a last meal, or the ride to the airport. Converting back to shekels in Israel is usually less favorable, so it is better to avoid it. Use the budget calculator to estimate how much cash you need, and see what happens if a card is blocked in the cash and card guide.

For those traveling as a couple or a group, you can divide withdrawals so that one person withdraws a larger sum and the others pay them back by transfer or from a joint account. That reduces the number of withdrawals and the accumulated fees. Check with your bank what the most convenient way is.

Keep reading

Smart savings in Thailand: small habits that save money without spoiling the trip.