The banking system of Thailand is well developed. Even in small towns there are branches, ATMs, exchange offices. The Central Bank of Thailand (ВОТ) was formally established in 1942, it reports to the Ministry of Finance, manages commercial banking institutions of the country and issues licenses for transactions with currency.

Exchange US dollars or euros for Thai baht is not difficult. In Bangkok and popular resorts, you can also find places where it is possible to convert rubles into local currency.

Banks of Thailand

There are 13 Thai commercial banks and 18 branches of foreign in the country. In the rating on the first positions (by assets):

• Bangkok Bank. Established in 1944, the industry leader.
• Krungthai Bank. Has a developed network in all regions, represented in 7 countries. The second largest bank after Bangkok bank.
• Siam Commercial Bank. The oldest financial institution in the country, founded by the King's family and still popular with the elite.
• Kasikorn Bank. A Thai-loved bank with a well-developed customer service. His green ATMs are literally at every turn.
• TMB Bank. Was created for the needs of the military department and today is popular among ordinary citizens throughout the country.
• Bank of Ayudhya (Krungsri). Has been working since 1945, actively finances large and medium business projects.
• Kiatnakin Bank. Established in 2005 by the eponymous financial corporation and rapidly developing the network, it is more common in Bangkok.
• Siam City Bank. It was founded by the government together with members of the royal family in 1945. Assets $ 15 billions USD.
• Thanachart Bank. Since 2002 it has achieved a position in 10 of the largest banks, part of the shares is held by investors from the Netherlands.

Banks with a developed network of branches and ATMs

Branches of the largest financial institutions are represented in all regions.

In large cities and tourist centers, the branches can be meet literally 100 meters from each other.

Even if you do not delve into the names, you can find the most popular banks by the company's colors: green ATMs and offices in the "green" belong Kasikorn Bank, purple ones belong Siam Commercial Bank. The most common in the center and in the north of the country TMB Bank is distinguished by light blue ATMs, signs and office interior.

Well-developed network of ATMs, exchangers in the capital and provinces is from Thai banks Krungsri, LH Bank and international UOB bank.

What is the difference between exchange offices

In resort areas and tourist spots small Exchange kiosks are more common than bank branches. Exchange points belong to banks or operate independently. Both of them work officially, difference is only in courses. Bank exchangers is distinguished by the firm colors, a logo and the name. In shopping centers there are usually several exchange offices with a convenient schedule for tourists, some work around the clock.

The most common exchange kiosks networks:

• Pentor exchange;
• Siam Exchange;
• Sia Money Exchange;
• Grand Superrich.

Exchanging money in licensed points belonging to banks or large exchange networks is safe, and the rate is often a little more profitable than in the branches of banks.

The subtleties of foreign exchange operations in Thailand

Do not rush to convert large sums at the airport upon arrival - the rate there is usually not profitable, as in hotels. It is best to go for cash directly to the offices of banks or to kiosks-exchangers (with the inscription Exchange).

The system does not provide any restrictions on the volume. The benefit of withdrawing baht from ATMs depends on the rate of the particular bank, its commission and conversion conditions in the bank that issued the card.

In exchange offices, the rate usually depends on the denomination: - for banknotes up to $ 1-2 - the lowest - for new bills $ 50, $ 100 - the highest. For the euro there is a single rate for all banknotes.

How to find out which bank or exchanger has best rate

Actual courses are on the websites of banks and exchange systems. The search of data on the service of each bank will take some time, and the rate changes quite often. In addition, not every resource has information in available form for a foreigner.

On Exradar you receive information on each bank, exchanger and a comparison of their rates in a few seconds. You can see where it is most profitable to exchange the US dollar, the euro, the British pound and the ruble (at the institutions where it is possible to exchange it).

Banks in Thailand, like exchange systems, independently set rates for foreign exchange operations, and they are the same for all branches. Therefore, having learned that the prices for buying and selling currencies are more profitable, for example, for TMB Bank, you do not have to study rates in all offices - you can find the nearest exchange points of this bank on the card and go to change money.