Money and currency exchange in Koh Phangan

The local currency is Thai Baht (THB).

In most places, cash is the only accepted form of payment here on Koh Phangan. Although, in several larger stores, they accept cards. 7-Eleven accepts cards, but for purchases over 300 baht and there is a commission of +3%.

That’s why it’s better to have cash. Which you can get at any ATM or at a bank branch. Also, some tourists often offer to sell cash in a telegram chat.


Located throughout the island, working 24/7. If you withdraw cash from an ATM, you will be charged a commission of 220 baht .

The withdrawal limit is 30 notes. This is usually 30,000 baht. But if the ATM does not have thousand baht notes, then the limit will be 15,000 baht, respectively.

A bit more about the commission

There are two different commissions. The first is from a local bank (ATM). The commission is 220 baht and it is always taken. It does not depend on the amount you withdraw, the type of card or currency of the account. Even if you have a card (account) in baht — this commission will be taken from you.

The second commission is from your bank (Sberbank, Tinkoff, Alpha, etc.). Its amount and conditions need to be specified at your own bank. For example, Tinkoff bank does not take any commission for withdrawals over 3,000 baht. Sber and Rife have a fixed commission when withdrawing from "alien" ATMs. In this case you pay for two commissions! Do not be surprised.


You can enter the bank building with your card and passport and take money out of your account at any counter. In many banks, this happens without a commission.

The name and surname on your card must be exactly the same as the name on your passport. If there is a difference of one letter (Sergei — Sergey), then go to the blue bank, they are the most loyal.

The dollar purchase rate is taken from the website of each bank and is updated every hour. The rate is indicated for amounts starting at $ 50.
Blue - Bangkok Bank
Daily 10 am — 6.30 pm. The limit is 25,000 at the ATM. You can’t get money at the bank branch.
Blue - KTB
Mon-Fri 8.30 am — 5 pm, Sat-Sun 10 am — 6 pm. The limit is 100,000 baht per day. No commission.
Yellow - Krungsri
Mon-Fri 9 am — 5 pm, money exchanger until 7 pm. There is a limit of 30,000 at the ATM, 100,000 baht per day at the bank. In the department — no commission (only MasterCard). In the exchanger (near Watsons) — a commission of 200 baht, but it’s open until 7 pm.
Violet - SCB
Mon-Fri 8.30 am — 3.30 pm. Commission 180 baht.
Green - Kasikorn
Mon-Fri 9.30 am — 4.30 pm. There is a limit of 20,000 at the ATM. You can’t get money at the bank branch.
Pink - GSB
State Bank. Mon-Fri 8.30 am — 3.30 pm. You can’t get money at the bank branch.
Orange - Thanachart
Mon-Fri 8:30 — 16:00. You can’t get money at the bank branch.

About exchange rates

If you withdraw cash with your card, your bank sets the rate (Sberbank, Tinkoff, Alpha and so on). The local Thai bank charges your card in baht. You can see this in the operations statement (receipt).

About double conversion

When you withdraw money abroad on a ruble card, the payment system — MasterCard and Visa — converts it from the local currency into dollars (euros) at its own rate and sends a request to your bank. Your bank is also converting dollars (euros) into rubles at their own rate. That’s why we get double conversion — and double commission.

To avoid this double commission, open an account at your bank in baht and attach a card to it. Some banks (including Tinkoff) allow this. Then, you convert rubles to baht at the bank’s internal cross rate in one operation.

How beneficial is this? We conducted an experiment. We withdrew the same amount of money from the account in rubles and baht. We took 5,000 baht. How much was written off?

  • 10 175 rubles — from the account in baht (the rate was 2.035)
  • 10 320 rubles — from the account in rubles (the rate was 2.064). Lost 145 rubles.

The difference is one and a half percent. You decide.

How to get a Thai bank card

Those who work or study here officially can open a bank account and get a bank card in Thailand. The following documents will be required:

  • International passport
  • Resident Certificate
  • Visa (NON-ED or NON-B)
  • Work permit or documents from school
  • Rental agreement
Those who live here on a tourist visa can try applying to get a card at the yellow Krungsri bank in Koh Samui. Depending on the manager you work with, you may be asked to provide a different set of documents. You need at least a passport, a rental house agreement for a year and a copy of the owner’s ID. Additionally, they may ask for a resident certificate. The cost to get a card is 400 baht, and it takes less than an hour.

The most loyal branches:
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