Money, Banking and Payments in Phuket

Cash, cards and ATMs

Cards work in hotels, larger restaurants and shopping centres, but small shops, markets, scooter rental desks and many local places want cash. Carry some Thai baht in smaller notes, because some vendors cannot change large ones. ATMs charge a fee on foreign cards and may offer to convert the amount into your home currency. Decline that and let your own bank convert it.

Withdrawal and transfer limits differ between banks and accounts. Some digital-only accounts have restrictions on using Thai ATMs, so do not make one your only way to get money, and test any foreign card in Thailand before you rely on it.

QR payments and PromptPay

Many Thai shops, markets and street stalls take QR payments through the national PromptPay system. These usually need a Thai bank account and a mobile app linked to a Thai phone number, so a visitor with only a foreign bank often cannot use them. Do not assume that a foreign bank app can scan every Thai QR code.

If you do use QR payments, confirm the recipient's name before you pay, check the amount before you approve, never share one-time passwords or banking logins, and keep the receipt or reference. Always keep a backup, such as cash or a card.

Opening a Thai bank account

Foreigners can often open a Thai bank account, but there is no single rule. The result depends on your visa and reason for staying, your proof of address, your work status and the account type, and the branch makes the final decision. Tourists and visa-exempt visitors may be refused a standard account, while work-permit holders, students and many long-stay visa holders have a clearer case.

Documents commonly requested are your passport with the page showing your permission to stay, evidence of your visa, a Thai phone number and SIM for mobile banking, and proof of address such as a rental agreement or a residence certificate. Workers may need a work permit or employer letter, and students a letter from the school. Bring originals and copies, and more than one proof of address if you can.

Call or visit first to check the requirements for your visa and purpose, because rules differ between banks and even between branches of the same bank. If you are refused, ask for the specific reason before you apply again, and keep the account-opening forms and bank letters, which immigration or property offices can ask for later.

Sending money to Thailand

Use banks, licensed money changers or authorised transfer services, and check that the provider is licensed. Avoid sending money to an individual's account because of a promised better rate. Compare the final amount in baht that the recipient gets, not just the advertised fee, because a low or zero fee can be recovered in the exchange rate. Use the same amount, currency and delivery method for each comparison, and note when the quote expires.

Banks and providers may ask who you are, who receives the money, why you are sending it and where it came from, and a request for more documents is not necessarily a bad sign. Keep confirmations, references, bank statements and a screenshot of the rate and fees before you confirm.

Common mistakes are choosing a provider from an old comparison, sending a second full payment before you know whether the first is pending or returned, skipping a small test transfer on a new route and mistyping the recipient details. Converting everything on a single day also exposes you to currency risk.

Keeping an emergency reserve

Cash covers short outages of ATMs, card terminals, QR payments or banking apps. Money in an account you can reach the same day covers larger urgent costs such as a hospital deposit, an insurance excess, urgent travel or a repair. Base the amount on your real essential spending, and keep a medical reserve apart from living costs if you rely on self-insurance.

A locked banking app, a lost phone or SIM, or a low transfer limit can block access even when you have funds. Keep your bank's phone numbers offline, know how replacement cards are issued, never share a PIN or one-time password, and keep your passport, phone, cards and cash in separate places. Keep cash dry and above flood-prone floor levels, and review the reserve twice a year.

Tax residency in brief

A person who stays in Thailand for 180 days or more in a tax year is generally treated as a Thai tax resident, and that is separate from your visa status or nationality. Tax residents may be taxed on Thai income and on some foreign income that is brought into Thailand, and the treatment depends on the type of income, when it arose, when it was brought in and any tax treaty. Keep records of your travel days, income sources and transfers.

Tax rules change and individual cases differ, so check current guidance with the Thai Revenue Department or a qualified adviser before you make large or mixed transfers, claim a foreign tax credit or file a return.