Money, banking and costs

Even with a card that refunds ATM fees, the Thai machine charges 250 baht a withdrawal, and 350 on Mastercard at several banks. Take out larger sums less often, and always decline the offer to be charged in your home currency: the machine's exchange rate is worse than your bank's.

For cash exchange, the dedicated booths (SuperRich and its rivals) beat the banks. Bring clean, undamaged notes and your passport.

If you live here, two numbers matter. You become a Thai tax resident once you spend 180 days in the country in a calendar year. And since 1 January 2024, residents must declare foreign income in the year they bring it into Thailand, whenever it was earned; only money earned before 2024 is excluded. A proposal to exempt income remitted within two years of earning it had not become law as of October 2026.

Visitors can claim a VAT refund on goods bought at stores showing "VAT Refund for Tourists": at least 2,000 baht from one shop on one day, taken out of the country within 60 days.

Tax is where people get caught out. Keep a record of when each sum was earned and when you transferred it, before you move savings in.

For a month's budget at three levels, line by line, see what it costs to live in Bangkok.