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Currency
1 Baht (Bt) = 100 satang. Notes are in denominations
of Bt1000 (grey), 500 (purple), 100 (red), 50 (blue) and 20 (green),
10 (brown). Coins are in denominations of Bt10, 5 and 1, and 50 and
25 satangs.
Exchanging Money
Currency exchange |
You can convert major currencies to Baht at
all banks and exchange booths. The rates are fairly similar island-wide
at both types of locations. Always count the change you receive.
Travellers' Cheques & Credit Cards
Travellers Cheques |
Travellers' cheques are the safest way to
carry your money. Better rates are offered for cheques than for cash,
there is normally a charge of 13 baht commission and duty per cheque.
Travellers' cheques can be changed at most locations. Your passport
will be required for identification.
Many exchange booths
accept credit cards. These cards will be displayed in their windows.
Note that businesses accepting credit cards for goods and services,
often take VISA and Mastercard only. Expect a surcharge of up to
5 percent on every transaction.
In the case of lost or stolen credit cards telephone:
American Express - (02) 273 0020
Mastercard / Visa - (02) 299 1990
Currency Exchange Rates
Latest foreign currency rates courtesy of the
Siam
Commercial Bank. |
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ATMs (Automatic Teller Machines)
ATM |
ATM's or cash machines as they are otherwise
known, can be found in Nathon, Chaweng, Lamai, Bophut and Maenam.
There is normally a handling fee of 1.5 percent for every withdrawal.
Note that some ATM machines do not accept credit cards. Look for the
VISA and MASTERCARD signs. Try not to depend totally on these machines,
as they sometimes run out of cash or go out of order.
Banks & Wiring Money
Western Union sign |
For transactions requiring a teller, there
are banks in Nathon and Chaweng (only).
Banking hours are Monday - Friday 8:30am - 3:30pm.
It is possible to have money wired directly from
a bank in your home country to a bank in Koh Samui. It normally
takes two - five working days to arrive, and costs around US $40
per transaction.
Western Union - has an agent located at the Bangkok
Metropolitan Bank in Nathon. This is the fastest but most expensive
way to send money. Money wired through them should be ready for
collection within twenty minutes of being sent. Note that sending
larger amounts of cash this way is better value as they charge on
a sliding scale.
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