Thailand money matters

The official currency of Thailand is the Thai Baht (THB). There are notes of 20, 50, 100, 500 and 1000 baht, plus various coins which are useful for tips and small purchases. For reference, 50 baht is worth about £1.10.

It’s good to get some cash early on. You can either get some before you leave home for ease, or take some cash to exchange at the airport. You’ll usually get a slightly better rate locally in Thailand and can also get money out from the ATMs, although fees will apply. We suggest using ATMs located inside of banks as the outside ones are sometimes targeted by fraudsters.

Credit and debit cards are also widely accepted in shops, hotels and restaurants, but make sure you check with your bank in case of overseas fees. If needed, we recommend signing up for a prepaid card like Monzo, Revolut, Starling or Wise which offer low or zero fees abroad.

If you’ve booked your holiday with Rickshaw then your accommodation, transport and pre-booked tours will have been paid for in advance. Breakfast will be included almost everywhere you stay, as well as your other meals too in the more remote locations.

However, you’ll still need to be prepared for everyday spending.

Every family is different and costs can vary depending where you are in the country. For example, prices in Chiang Mai and the north will be noticeably cheaper than in Bangkok or down on the islands. Either way, you’ll doubtless find things like food and drink to be very cheap in comparison to eating out back home.

Daily spending is difficult to predict but to give you some idea, here’s what to expect for some of your most common expenditures.

 

Typical Thai meal (e.g. Pad Thai) in a local restaurant: £1-3

Meal in a ‘posh’ or western-style restaurant: £8-12

1 litre bottle of water: £0.50

Fresh fruit juice or coconut water: £1.50

Bottled beer: £1-2

Bottle of imported wine in a restaurant: £12-18

5km city taxi ride: £1.50-2 (we recommend asking for the meter to be turned on)

1. Use the markets – You’ll find well-stocked shops and small supermarkets in most Thai towns so it helps to stock up on kids snacks, drinks, and other essentials when you arrive somewhere. Fresh fruit in the local food markets is also incredibly affordable. If you get caught short in a popular tourist area or are constantly buying food in your hotel, you should expect to pay more than you could have elsewhere.
2. Buy water in bulk – You’ll often find that a 6 litre bottle costs only a fraction more than a 1 litre one, so buy big and make sure you pack your refillable water bottles. Better for your wallet and the environment!
3. Keep it local – You might want to treat the family to a few extra special meals out during your holiday, but eating at more simple local restaurants will save you a lot of money. And this is Thailand after all, so even the most humble restaurants will be serving meals that are absolutely delicious.

For the most part, the price is the price in Thailand and tipping isn’t customary or expected. The Thais themselves only tip in small amounts, if at all. However, if you’ve had good service and want to leave the change after a meal out then it’ll be very much appreciated. The same applies for taxis or tuk-tuks.

More upmarket restaurants will often charge a service fee of about 10%, so don’t feel you need to leave any extra on top of this.

Tour guides won’t expect a tip either, that’s not really the Thai way, but it is common to give a extra if they’ve provided a great service. It will be very much appreciated.

Haggling is expected at some of the main tourist markets, and prices of souvenir-type goods are likely to be inflated by the seller in anticipation of some negotiation. Just bear in mind that the sellers are probably on quite low incomes – we tend to settle around a price that seems fair, rather than obsessing over the best possible price. There’s not much point trying to haggle in actual shops or local food markets (which are very cheap anyway!).