Where-when to exchange money?

[12is12]

Hi Guys,

I've read on this forum that the best place to do so is at the airport before exiting (level -3 or something) rather than in BKK.

Is this also rcmmndd if I'm heading straight to Pattaya, or is there a better option in P?

If still at the airport, should I notify Mark's taxi in advance (bcs it might cause a delay)?

[pong2]

NO-if you are really looking for very best rates for cash money in large values of the usual western countries (think EU€, UD$, GBP etc) then IN town=BKK offers the best, and only mo-fr. 

Arrived-after nearly 1000 days ago-here in BKK yesterday, had still some THB left from last and changed some-in airport (Swampy to be exact) ALL Thai banks have dozens of outlets and ALL offer the very same very low rates.

BUT the area on the raillink into town is not airport-lowest level-owned and has at the very end-beyond many msg/sim/STREETfood places at high prices a few money exchanges-and also again one of Thai Farmers Bank=Kasikorn. ALL here offer the same better rates.

BUT then I took raillink into town-last stop Phayathai to get taxi onward (I never stay around Silom) and then I saw there was also a SuperRich-orange xchange there-and it even had slightly better rate as at airport (15 stang/eur in fact). Have not been there yet and rates change by the day or even more often-so I still think the original HQ os the 3 different SuperRiches in BKK-to left side of Big C opposite WorldTrade. If it is really worth it to lay out the expense of getting there just for that is all up to you-and also how much you want to change. Think of roughly 0,5 bt/unit you can get more. (Or"50 bt for notes of 100 of these=the current price of a plate of rice at foodcarts. NO banks or any xch has fees, so that will not distract you.

Pty should-or used to have-also many cash exch places-those staying there will inform you-or try the nice private forum of thaigaybutton - a friendly and always helpful long-time Patters resident.

[vinapu]

If you going straight to Pattaya, exchange in airport only as much as you  need  to get you there. 

I Pattaya best rates have yellow units called TT EXCHANGE ( don,t confuse with similarly colored CURREBCY EXCHANGE )

[gerefan]

Agreed with vinapu , if going straight to Pattaya then use TT Exchange in Pattaya. 
They have many branches all over Pattaya and Jomtien. There is one right outside Boyztown and another a few minutes walk from Jomtien Complex.

https://ttexchange.com/

[12is12]

Thank you

[macaroni21]

I agree with pong2, vinapu and gerefan change at Suvarnabhumi airport only what you need to get through your first 12 hours. Thereafter whether in Bkk or Pattaya, look out for exchange kiosks (not banks). Super rich is almost always good. In Pattaya TT Exchange is the one I usually visit.

Don't fret too much about getting the absolute best rate. The differences aren't that significant in the larger scheme of things.

[vinapu]

6 hours ago, macaroni21 said:

 

Don't fret too much about getting the absolute best rate. The differences aren't that significant in the larger scheme of things.

You are right, even airport exchange rate , while worse is for me about the same if I bought baht in advance where I live.

[fedssocr]

Or just use an ATM 

[MarcSingap]

I checked last week (nov 10) airport exchange rates and decided to get change later in Silom.

Gone to SuperRich on Silom (close to Pullman G) with very good rates (euros to bahts). Quite a difference with airport rates !

I noticed that the SuperRich desk at Asoke BTS (neat T21) offers same very good rates.

[vinapu]

19 hours ago, fedssocr said:

Or just use an ATM 

Yes but watch the charges Thai and your own bank may be levying on withdrawal.

[gerefan]

28 minutes ago, vinapu said:

Yes but watch the charges Thai and your own bank may be levying on withdrawal.

And the rate is generally worse...

[Londoner]

 I wanted to change some money in the Silom area yesterday....and could find no exchange booths open.  Not one. i eventually had to queue up in a bank.

Odd;  Pattaya had plenty when I was there a few months ago.

[reader]

There are always places to be found on Soi Thaniya into the evening.

During daylight hours, Superrich adjacent to Silom Plaza (home of Arena and Best massage shops) and X-one on Surawong near Sap Rd. are open and offer most competitive rates.

The jewelry store just to left of the old Soi Twilight site will probably offer rate better than most banks.

[fedssocr]

14 hours ago, gerefan said:

And the rate is generally worse...

I've never found that to be the case. Essentially you get the rate that the banks charge each other. Get an account with a bank that rebates ATM fees and that is covered as well

[ChristianPFC]

The Thai ATM fees alone, let's say 200 THB for a withdrawal of 20 kTHB, amount to 1% loss.

[thaiophilus]

3 hours ago, fedssocr said:

Get an account with a bank that rebates ATM fees and that is covered as well

Which UK banks might those be?

[vinapu]

10 hours ago, fedssocr said:

I've never found that to be the case. Essentially you get the rate that the banks charge each other. Get an account with a bank that rebates ATM fees and that is covered as well

that's strange as I always see rate used in ATM withdrawal a bit worse  than one I 'm obtaining at at least XONE  on Suriwong and TT in Pattaya. In fact after I account for ATM fees,  effective rate for my currency ( not USD, nor Euro ) withdrawn from ATM is marginally worse than rate in Airport booths in main building  and only minimally better that one I'd be paying if purchased baht locally before trip. Differences are not big but consistent , it's why I use cash and go to ATM only in emergencies.

Since I have no reason to doubt what you said bottom line is that effectiveness of rates   between ATM and cash option may depend on particular currency i.e. to make it up

it may be better to use ATM if you are dealing with Indonesian ruppiah but cash will be more effective if using Philippines piso 

[vinapu]

22 hours ago, reader said:

There are always places to be found on Soi Thaniya into the evening.

During daylight hours, Superrich adjacent to Silom Plaza (home of Arena and Best massage shops) and X-one on Surawong near Sap Rd. are open and offer most competitive rates.

The jewelry store just to left of the old Soi Twilight site will probably offer rate better than most banks.

there's  also store with very good rates on Narathiwas between Arena and MahaNakhon

[thaiophilus]

9 hours ago, vinapu said:

effective rate for my currency ( not USD, nor Euro ) withdrawn from ATM is marginally worse than rate in Airport booths in main building  and only minimally better that one I'd be paying if purchased baht locally before trip. 

One possible difference: is the ATM billing you in baht or your home currency? If it's kindly offering to do the conversion for you, the "dynamic currency conversion"  rate you get will be far worse than if you insist on being billed in baht and letting your home bank do the conversion at the mid-market rate.

Just say no!

[pong2]

THis is a fancy story for many of us-esp. from USA seem unable to grasp that other countries may have other ways to handle that. Being myself from EU I always get-on payments, a neat @mail telling me how many % VISA will add to this rate. There is no way to avoid that anywhere inland. But there is this revolut card now.

So yesterday, as I needed to do more things in that area, I braved traffic and went to the HQ area of these 3 SuperRiches. Half of town closed off for this conference-giant traffic jams and about all of Thai police seemed to be gathered here in BKK. Ploenchit as such was not blocked-but right next to it. Many streets also fenced off. Traffic might have been less, but as nr of streets to pass by was also much less, even more jams as usual at unusual places. Also loads of ´silent´ agents at risky points.

For my money these were the rates offered:

at main HQof all the 3 SprR (orange, blue, green): 37,00. This was even 0,05 more as I saw in the morning on their site.

orange SprR 100 mtrs onward Ratchprasong: 36,85

orange SprR in Phayathai: 36,80

Other private exch in this area: 36,50 - 36,60.

All in all my ´profit´ was 320 bt for the amount I changed, ca 1% compared to just round the corner. Will not tell how long that will last for me.  Bus fare 8+15-no count, had to be there anyway for some other things. With bank rates and Thai fee for ATM: profit ca. 600 bt.

Most Thai banks in Siam area that still have some exch (most seem to have given up on that): range 35-36,xx

The ordeal you have to go through may also not be inviting for many:

Must have mask on entering

Passpt will be copied and you need to give full details of where you stay, fone nr (only Thai nrs accepted). THis will be fed into some system, as I had been there some 3 - 4 yrs ago, it seemed there was no memory from that long ago. This may already shriek off some.

Then line up-(hint: walk a little further, there are at least 4 Spr R in this block-less busy)

The charming lady is very well used to it, will show very clearly the amount in the machines, will scrutinize all bills at both sides for any writings, torns etc-these will be refused.

In the past they offered some drink-but now its a small bottle of cool water you can help yourself to when leaving.

All these shops have at least 3-4 security guys in disguise around the entry-they will also welcome you and open doors etc.

Most people who use these outlets are seemingly Asians who have valuta not so ready to exchange or from countries where even banks are still in infancy or distrusted.

 -Beside the BigC always overflowing with shopping Asean tourgroups was a yet another new shop-centre opened, that promised to have a (former Tesco, now only Lotus)-at the far end-but shop was closed and dark. The former JPNese dept.store beside World Trade is also gone (Daimaru), but its space has been taken over by World Trade-and the JPNese bookstore Kinokuniya is still there and moved over and is now much larger and inviting.

[Travellerdave]

Quite a saga pong2 !

i remember the first visit I made to Thailand in 2001. I took a mixture of USD And GBR cash -plus a wad of Amex USD travellers cheques. 
This was just before the internet took off as a source of information for travellers. I recall cashing the cheques in banks and being amazed at how much purchasing power I received. The rate was around 70 baht to £1.  I returned home to the U.K. with a good proportion of the cheques which I used in USA subsequently for cashing and for direct settlement of hotel bills. 
i don’t suppose anyone still uses travellers cheques ?. Maybe they are not available anymore.

 

[ChristianPFC]

In the Superrich (plural) you will have to deal with several people and several documents, which I don't like.

Last week I went with a friend from Philippines, and he left his passport in his room so they wouldn't serve him. I didn't have my passport either. But I had an idea: nearby are some family-run exchanges, which I usually go to because I don't like the crowds at Superrich, and there they served him without passport.

[gerefan]

I find TT Exchange in Pattaya the same. If you offer ID they photocopy it.

If you just hand over your foreign money, and nothing else, they just change it. No questions asked!

[t0oL1]

speaking of exchange rates, how is THB doing.

I saw a moneymaking opportunity in the lower baht values earlier.

Unfortunately once Thai banks get your money they want to keep it?...