Koh Phangan has many banks on its relatively small island. While the banks are operating mostly with Thailand currency, it is also fairly easy to obtain some of the other foreign currencies. Most banks hold U.S currency, and while they don't necessarily use it often on the island, most banks use it to exchange with United States residents who are in Koh Phangan on vacation.
Koh Phangan banks are located in a variety of places on the island. Moreover, most Koh Phangan banks have ATMs inside or next to the facility. These ATMs are a convenient way to get the local currency cheaply and quickly. There are rarely long lines, and the currency fees are lower then nearly anywhere else.
Koh Phangan banks are open from 8:30 a.m. to 3:30 p.m. Monday through Friday (most are closed on both Saturday and Sunday, although some are open until noon on Saturday). Koh Phangan banks take most currencies from various nations as well as traveler's checks, VISA cards, MasterCard's, Discover cards and American Express. Should you need a cash advance but you don't wish to use an ATM, most Koh Phangan banks can help you with the transaction.
Outside of Koh Phangan banks and ATMs, there are a few other places you can get money of various currencies. Exchange offices, like Koh Phangan banks, are found in several locations on the island (especially around the Salad Beach area), and they can give you many of the same services as a bank.
If you are a frequent visitor of the island, you may be eligible for a Koh Phangan bank account. Having a Koh Phangan bank account will get you around the currency exchange rates for the most part, and it will make transferring funds from your country's currency to Thailand bahts much easier.
Koh Phangan banks are located in several, convenient locations on the island.
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