Exchanging Money

[Guest]

Superrich now have a currency exchange booth at the airport (BKK) in the entrance to the railway station on the left.

The bank next door was matching their rate, so much better than the average bank rate.

Superrich are consistently amongst the most competitive options in Bangkok.

Currently they are only 0.3% behind Vasa for GBP and for most of us it isn't worth the trek out to Sukhumvit to visit Vasa.

Avoiding the standard bank rip off rates is worthwhile though.

 

 

For comparing rates, the following site is useful.

 

http://bankexchangerates.daytodaydata.net

 

A sensible approach could be to check rates before boarding your flight and then you know if the rates on offer are competitive upon arrival.

[firecat69]

I just can't imagine going out of my way more then 4 steps in order to get 35,700 baht for $1000US instead of 35,500 baht.

 

200 baht won't even get me a drink on Soi Twilight.  I don't get it???

[Alexx]

Superrich are consistently amongst the most competitive options in Bangkok.

But there's a catch, the rates differ between their "convenient" kiosks (Airport, BTS, etc.) and their head offices (Ratchadamri and Silom). At the airport and at BTS stations, you don't really get their best rates (today's example for USD100BUY: 35.60 vs. 35.70). For those who bring along a lot of cash, it therefor still makes sense to change only little at the airport and more in town later.

 

Still, fluctuations within the course of a day often have a bigger effect than rate differences between exchange operators. I, too, wouldn't criss-cross the city in hunt for the best rate.

[Up2u]

But there's a catch, the rates differ between their "convenient" kiosks (Airport, BTS, etc.) and their head offices (Ratchadamri and Silom). At the airport and at BTS stations, you don't really get their best rates (today's example for USD100BUY: 35.60 vs. 35.70). For those who bring along a lot of cash, it therefor still makes sense to change only little at the airport and more in town later.

 

Still, fluctuations within the course of a day often have a bigger effect than rate differences between exchange operators. I, too, wouldn't criss-cross the city in hunt for the best rate.

It is true for exchange booths operated by the big banks too, wait until you are in town before doing these transactions not at the airport.

[Jasper]

If you want Superrich's headline rate, you need to go to their head office(Rachadamri) opposite Central World. Superrich's booth have worse rate than their head office. You need a copy of passport as they take a photocopy and contact number.

[firecat69]

I never change money at airport.  Always leave with enough baht to get me to my residence and into my room from the airport.

[Guest whall]

Yeah. I feel like you're talking about not that much of a difference to me. Whatever is most convenient is where I go.

[gumbleby]

Good that you mentioned it. I passed a few times through the airport last november and noticed the same thing - the exchange rates near the railway station were comparable to the rates in the city rather than to the usual (poor) airport rates.

(I was taking the airport bus and the airport rail link to go from Pattaya to Bangkok - saves the long ride to North Pattaya - we were staying in Jomtien).

[Nasherich]

I have recently started using a service called Revolut. You get a physical ATM card, can load your account instantly with GBP, EUR or USD through a very simple mobile App, and get interbank bank rates when withdrawing cash at any ATM. The only charge currently is the 200B levied by the ATM provider.

 

Happy to provide more details if anyone interested, including a referral code!

[Guest]

Some of you guys miss the point.

 

1 If you have a large sum of money and the free time, by all means search out the best rate in town. Maybe travel over to Vasa in Sukhumvit or Superrich HQ.

Personally I am not going on a 1 hour detour to save 300 baht on a £1200 trade.

 

2 For me it's enough to avoid getting gouged by the normal bank rates & get a something close to the best rate. The rates in the airport terminal were too poor, but those in the basement airport rail station were offering most of the bwnefit to be had by shopping around.

 

3 The third option is just to exchange anywhere. To me this makes no sense as you can throw away 1 ~2% of the money when you are likely to walk past a more competitive trader during the day. Also research to find fairly competitive rates seems to be something you can do once and use for many years.

 

Anyhow, who cares? We can all do as we please with our own cash.

[vinapu]

surprisingly perhaps when there  earlier this month I noticed  that exchange counter at Sala Daeng BTS is closely matching best rates offered in the area by Natty Gems  at mouth of soi Twilight and jewellery shop in soi Thaniya on the left coming from Silom.

 

If it makes sense to chase best rates it's for everybody to decide but as z909 noticed we are walking past so many traders so why not to check at least 3-4 on our way to get the best rate even if it saves only  cost of Singha or Chang  at 7/11 on 100$ exchange

[Guest anonone]

Agree, avoiding the rip-off places is the highest priority. But it makes sense to be observant of rates posted when wandering around to get a sense of where the best rates are typically offered.

 

In Pattaya, I have always found the TT venues offer the best exchange rate, so that is where I head now. I spot check them occasionally, but have never found a better rate.

 

Thankfully, there are locations conveniently located near Boyztown and Jomtien Complex, though I have not seen one near Sunee as of yet? Anyone know of one close to Sunee?

[vinapu]

 

In Pattaya, I have always found the TT venues offer the best exchange rate, so that is where I head now. I spot check them occasionally, but have never found a better rate.

 

Thankfully, there are locations conveniently located near Boyztown ...

the same here, never found better rate that at TT around the corner from Boyztown and they have bit better rates than best ones in BKK so for those heading to both places  exchange your money in PTY

[forky123]

Me 3. Not found anywhere better.

[Guest]

Agreed. In Pattaya TT are a good choice. And they seem to be opening more sites now.

In the past I have also seen good rates at the place just past the baht bus queue (for Jomtien). The one with some paintings in the windows.

[TotallyOz]

Thanks everyone!  This is great information.

[Jasper]

Super Rich HQ accepts photocopy of your passport.

[Guest]

Do we need to show our passport for a USD 5000 exchange in Vasa? I hate to carry my passport around.

Probably. I have no concern carrying $5000 or my passport. In the inside pocket.

[Jasper]

For ID check?

Regardless of what amount you want to change, they take a photocopy of your passport, Thai telephone number or hotel name.

[steveboy]

Do we need to show them our real passport? Why do they need to keep a copy?

 

When I was there in April, they accepted the copy of my passport I always carry with me in lieu of the real one.  And I was not asked for telephone number or hotel name.

[Guest]

That would be it. Unless you want to go to Sukhumvit for some other purpose or are changing $10000+, I don't think it's worth the detour. Based on when I last looked @ their rates -admittedly some time ago. Compare with Superrich & consider the cost of your time.

 

I have used Vasu once & Superrich many times. (Edit: First draft had Vasa, which is a lot more memorable than Vasu ☺)

[kokopelli]

Oh yes, Vasa, near Boyztown; I have exchanged money there also. 

[witty]

I have recently exchanged 10 spanks on a delightful man's exposed derriere for 100 baht at Vassa bar in Boystown. Certainly a fair exchange rate!

[kokopelli]

Yes, good rate, Witty. At Eros I get about 5 spanks / 100 Baht.

[vinapu]

During my recent trip I decided to do some research to see what means of obtaining baht are most economical, ie. how to get 1000 baht cheapest way, cheapest means costing least in my domestic currency . Here it goes in ascending order:

 

1. exchanging US cash purchased at home using my domestic currency at my usual place Natty Gems on Suriwong

 

2.exchanging my domestic currency cash at the same location

 

3.surprisingly perhaps, exchanging my domestic cash at the BKK airport

 

4. exchanging US cash purchased at home in the BKK airport

 

5. withdrawing cash from ATM  from account at home.

 

6. withdrawing cash advance from credit card using ATM 

 

7. buying baht at home.

 

 

While difference was clear, good news is , difference between obtaining baht cheapest and most expensive way was 5.76 % so not exactly ruinous if I picked up consistently least efficient way to finance my whole stay.

 

Withdrawing money from ATM caused some anxiety as on three occasion ATM actually rejected transaction for some reason so don't count on it if you are desperate ie.  you need money for a tip for boy