Banks and Money in Udon Thani
While their are lots of banks in Udon Thani, hard cash is what most people use in their day to day transaction, be it in shops, restaurants or virtually everywhere else. It appears that only people with a 'proper' business, that is a business with a physical presence in the form of a building, have bank accounts, as these are generally the people that have a sufficient income to warrant a bank account.
Thailand Currency
Most people are probably well aware that the currency in Thailand is the Thai Baht, which is subdivided into 100 satang. Most money carried are the paper notes in 20 baht, 50 baht, 100 baht, 500 baht & 1000 baht, although coins are available in 25 & 50 satang, 1 baht, 2 baht, 5 baht & 10 baht.
The small change can take a little getting used to as they look similar to begin with, especially the one and two baht coins, despite the size difference. If you only have one size, you do need to look twice to check its value. You do not see the satang too often though, as most prices are rounded up or down to the nearest 'full' baht. |
You can check the current exchange rate using the widget above.
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Banks in Udon Thani
If you want to open a bank account in Udon Thani, you normally can providing your passport is current and you can demonstrate that you have a permanent address in Thailand. Opening a bank account involves placing a small amount money in to the account, and obtaining an ATM, for which you will typically pay in the region of 300 baht a year for the privilege.
Unlike the UK, there are bank charges for just about any transaction you undertake, unless you are putting money in to your account. Withdrawals are charged at a nominal rate of about 20 baht, ATM card (as mentioned above) have an annual charge, as do Visa cards. In the case of Visa cards that can be used for online purchases and purchases outside of Thailand, you have a few more hoops to jump through, and a wait of a few weeks to obtain it. Additionally, you will need to open a new account and deposit funds that must not be removed (at least that is what Siam Commercial Bank have told me).
The easiest place for us ferang to find a bank is by heading to the Central Plaza shopping mall. There are a plethora of banks on the 3rd level, but if you are trying to transfer money from your country, then the Bangkok Bank or Siam Commercial seem to be the only two banks that will complete such a transaction.
Unlike the UK, there are bank charges for just about any transaction you undertake, unless you are putting money in to your account. Withdrawals are charged at a nominal rate of about 20 baht, ATM card (as mentioned above) have an annual charge, as do Visa cards. In the case of Visa cards that can be used for online purchases and purchases outside of Thailand, you have a few more hoops to jump through, and a wait of a few weeks to obtain it. Additionally, you will need to open a new account and deposit funds that must not be removed (at least that is what Siam Commercial Bank have told me).
The easiest place for us ferang to find a bank is by heading to the Central Plaza shopping mall. There are a plethora of banks on the 3rd level, but if you are trying to transfer money from your country, then the Bangkok Bank or Siam Commercial seem to be the only two banks that will complete such a transaction.
Money in Udon Thani (Cash)
As mentioned above, cash is what most people deal with, which is not ideal for us ferang that are used to going everywhere back home, and paying by our beloved plastic pal. Many of the major retail outlets will accept credit cards, but you need to check before you do anything else, on entering the store.
As a ferang, you may sometimes be able to get a discount on goods from many shops, but there are equally as many that will not give anything. I make use of my Thai wife when shopping, and I keep a low profile while she enters the shop and haggles to her hearts content, mostly with a great deal of success.
As a ferang, you may sometimes be able to get a discount on goods from many shops, but there are equally as many that will not give anything. I make use of my Thai wife when shopping, and I keep a low profile while she enters the shop and haggles to her hearts content, mostly with a great deal of success.