# exchange rates



## wandabug

Can anyone in Thailand tell me how many baht the banks/money exchanges are giving for sterling / travellers cheques over there at the moment? Thank you.


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## Guest

No joy on current sterling rates then.Well whatever the rate is, it'll be better than the one you would get in the UK or Dubai!

Not good though, these days, either for sterling or the euro. The baht remains strong, whatever political upheaval is going on.


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## Serendipity2

wandabug said:


> Can anyone in Thailand tell me how many baht the banks/money exchanges are giving for sterling / travellers cheques over there at the moment? Thank you.




wandabug,

The rates change daily and even in Thailand you will get slightly different rates from money changer to bank. Above all NEVER change money at a hotel - you will get an atrocious rate. Here's a URL for one of the online foreign exchange search engines. It's a great guide and get you close....

XE - Universal Currency Converter

I would NOT use traveler's checks unless you had to. Many no longer want them. There are too many counterfeit travelers checks floating around plus you have to pay a hefty premium to buy them in the first place. 

You will find it more convenient to keep your money in your home country and use an ATM machine - preferably at a bank [inside the bank] as you travel. Make sure you have a high enough limit per withdrawal from your bank as there IS a flat fee to use the ATM's plus what your home bank charges. Banks give the best rate on ATM withdrawals and just do everything in cash. 

Serendipity2


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## wildfk

I'm not a great fan of TCs but I think the above post over stresses the problems. They are usually the cheapest , in not the most convenient way to by foreign currency - they are also easy to replace if lost or stolen. - I have witnessed a TC being turned down at a bank exchange booth - why was unclear. 

I use them only as emergency back up.

The rats of exchange obviously change every day - the best thing to do is check any internet site and knock off a couple of baht.

The banks in Thailand actually give a pretty good rate and the variation between banks is quite small - unless you're fanatically disposed to getting the best price I'd suggest the minimum amount of window shopping for rates - you'll waste more time than you'll save money.

If you are using an ATM card of any kind note that Thai banks charge an EXTRA 150 baht fee on the ATMs. This is on top of any charges your bank may make.

You can present your card to a bank or booth to change money - it's not clear if that avoids the charge - there may be a slightly different rate of exchange this way.


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## Serendipity2

wildfk said:


> I'm not a great fan of TCs but I think the above post over stresses the problems. They are usually the cheapest , in not the most convenient way to by foreign currency - they are also easy to replace if lost or stolen. - I have witnessed a TC being turned down at a bank exchange booth - why was unclear.
> 
> I use them only as emergency back up.
> 
> The rats of exchange obviously change every day - the best thing to do is check any internet site and knock off a couple of baht.
> 
> The banks in Thailand actually give a pretty good rate and the variation between banks is quite small - unless you're fanatically disposed to getting the best price I'd suggest the minimum amount of window shopping for rates - you'll waste more time than you'll save money.
> 
> If you are using an ATM card of any kind note that Thai banks charge an EXTRA 150 baht fee on the ATMs. This is on top of any charges your bank may make.
> 
> You can present your card to a bank or booth to change money - it's not clear if that avoids the charge - there may be a slightly different rate of exchange this way.



wildfk,

The last time I heard, travelers checks cost 2% of the face value so if you buy $1000 in checks you pay $20. You DO get a slightly higher rate for exchanging them instead of cash [go figure] but many places won't take them and you do not want to cash them at a hotel as their exchange rates are VERY low. 

Wow, THB150 for a ATM withdrawal. Thailand must be getting desperate for money - that's ridiculous. Still, if your ATM at home charges $3 [mine is free but most charge] and you do at least a $500 transaction the total cost is going to be the THB150 or US$5 which is cheaper by half than travelers checks. If you're going to be living in Thailand the cheapest method is to open an account and wire money from your home country to Thailand but if you're a tourist then I still think the ATM is cheapest but you do have to take a bit more care if you're carrying much cash. I carry just what I need and leave the remainder in my room's safe or the hotel's safe. Banks DO hose you every change they get don't they! :/

Serendipity2


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## wildfk

Serendipity2 said:


> wildfk,
> 
> The last time I heard, travelers checks cost 2% of the face value so if you buy $1000 in checks you pay $20. You DO get a slightly higher rate for exchanging them instead of cash [go figure] but many places won't take them and you do not want to cash them at a hotel as their exchange rates are VERY low.
> 
> Wow, THB150 for a ATM withdrawal. Thailand must be getting desperate for money - that's ridiculous. Still, if your ATM at home charges $3 [mine is free but most charge] and you do at least a $500 transaction the total cost is going to be the THB150 or US$5 which is cheaper by half than travelers checks. If you're going to be living in Thailand the cheapest method is to open an account and wire money from your home country to Thailand but if you're a tourist then I still think the ATM is cheapest but you do have to take a bit more care if you're carrying much cash. I carry just what I need and leave the remainder in my room's safe or the hotel's safe. Banks DO hose you every change they get don't they! :/
> 
> Serendipity2



..


i'd check to see how much your bank charges for issuing TCs - some are free.
I'd also check the fees from your bank for foreign withdrawals - my UK bank charges 3% my Aussie is about the same....but I haven't used that for a while.


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## Serendipity2

wildfk said:


> ..
> 
> 
> i'd check to see how much your bank charges for issuing TCs - some are free.
> I'd also check the fees from your bank for foreign withdrawals - my UK bank charges 3% my Aussie is about the same....but I haven't used that for a while.



wildfk,

My bank [actually a credit union] gives me a limited amount of traveler's checks for free but I've not used them due to the difficulties of cashing them in many countries. There is no charge by my bank for ATM withdrawals - except what the local banks charge. I keep a limit of $500 max. per withdrawal but could set it higher. Many overseas banks limit you to how much per transaction. The bank I went to in Penang charged about $1.50 per transaction as I remember which wasn't bad. I checked later on the Internet to see how much the total withdrawal cost me and it was that amount.

Serendipity2


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## wandabug

But if you use atm your home country bank is setting the exchange rate, with TCs the Thai bank is setting the exchange rate will is better.


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## wildfk

wandabug said:


> But if you use atm your home country bank is setting the exchange rate, with TCs the Thai bank is setting the exchange rate will is better.


desn't seem to work like that - they give the mean international rate


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## wandabug

Not my UK bank, they charge to withdraw overseas and give a lower exchange rate than the Thai banks.


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## Serendipity2

wandabug said:


> But if you use atm your home country bank is setting the exchange rate, with TCs the Thai bank is setting the exchange rate will is better.




wandabug,

That should not be the case. Your home bank is providing funds and the local bank, with "guidance" from the Thai central bank makes the exchange. I checked when I was in Malaysia and my bank charged me nothing and the rate I got in Penang was slightly better than what I would have received had I been changing cash. They did charge a minimal amount - much less than the $5 Thailand is charging but the way to mitigate that is to make few transactions [one a month should work] and withdraw what you estimate you will need. Add 10%-20% just to make sure. 

Serendipity2


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## Bangkockney

wandabug said:


> Can anyone in Thailand tell me how many baht the banks/money exchanges are giving for sterling / travellers cheques over there at the moment? Thank you.


I always change money at Super Rich, never the banks. Always the best rates in town.


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## wildfk

yes but that's no help outside Bkk


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## JWilliamson

When i came to Asia some years ago i bought some TC and from my experience with them i will not get them ever again. JW


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## Serendipity2

wildfk said:


> yes but that's no help outside Bkk




wildfk,

Try talking to fellow expats in the area you're in when you're looking for the best exchange rate. If they live in that area they WILL know who offers the best rates. That said, there usually isn't too great a difference between them and probably not worth the shoe leather or time. The one place you NEVER want to change your money is at a hotel. ANY hotel. They WILL and DO rip you off.

Serendipity2


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## wildfk

*baht*

Eh? I would I do that? i'm paid in baht


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## Serendipity2

wildfk said:


> Eh? I would I do that? i'm paid in baht




wildfk,

Then why respond to the thread? It was about exchange rates. One would make the guess that if an expat is in Thailand and interested in the best place to get money changed it would be from his currency into Thai baht. If you're paid in Thai baht then that's not relevant unless you're exchanging Thai baht back to Aussie dollars.


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## wildfk

Serendipity2 said:


> wildfk,
> 
> Then why respond to the thread? It was about exchange rates. One would make the guess that if an expat is in Thailand and interested in the best place to get money changed it would be from his currency into Thai baht. If you're paid in Thai baht then that's not relevant unless you're exchanging Thai baht back to Aussie dollars.



what's wrong with the response?


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## Serendipity2

wildfk said:


> what's wrong with the response?



wildfk,

The thread is about exchange rates in Thailand. If you're already paid in Thai baht it's not an issue. Unless you are converting Thai baht back to Aussie dollars. Most are interested in converting dollars or their home currency to Thai baht.


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## wildfk

Yes, but what was wrong with my initial response? I'm perfectly aware of international currency issues and the best places to change them - so what is the problem with my advice? or are you just having a bad hair day?


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## Bangkockney

wildfk said:


> yes but that's no help outside Bkk


Sure, but this thread isn't limited to outside Bangkok.

Most people with foreign currency will pass through Bangkok before their onward destination.

A trip to Super Rich before leaving Bangkok would be a good move, it's worth it for the rate. And if you change big bills, you get a slightly better rate too.


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## wildfk

Bangkockney said:


> Sure, but this thread isn't limited to outside Bangkok.
> 
> Most people with foreign currency will pass through Bangkok before their onward destination.
> 
> A trip to Super Rich before leaving Bangkok would be a good move, it's worth it for the rate. And if you change big bills, you get a slightly better rate too.


i would seriously question the wisdom of travelling round Thailand with a wad of cash bought solely to save a few dollars etc on the whole trip. As has been said even at China town the saving is barely worth the shoe leather.
Basically if you are changing money you need to carry as little cash as possible.


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## Bangkockney

wildfk said:


> i would seriously question the wisdom of travelling round Thailand with a wad of cash bought solely to save a few dollars etc on the whole trip. As has been said even at China town the saving is barely worth the shoe leather.
> Basically if you are changing money you need to carry as little cash as possible.


Have you ever been mugged in Thailand? Anywhere for that matter? Whether or not you had a wad of cash?!?!

Don't be silly, you won't be holding a neon sign saying "I'm minted, come rob me". 

Don't you know that Thais regularly move large amounts of cash, we're talking millions of Baht at a time. Not by bank transfer. By withdrawing it from one bank and taking it to another.

Have you never seen people pay in huge amounts of cash at the bank having just offloaded their fishing fleet (for example)? I'm in banks regularly and see people with several bags full of cash.

Hell, my Aunt paid cash for her new BMW and didn't bat an eyelid at taking the B3 million with her.

I always bring large amounts of cash that I draw from my business in the UK. Otherwise the cost of withdrawals and conversions would be awful - the banks already take enough of my hard earned money, thank you very much.


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## Bangkockney

wildfk said:


> Basically if you are changing money you need to carry as little cash as possible.


I also cite this as the worst forex strategy possible.


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## wildfk

Bangkockney said:


> Have you ever been mugged in Thailand? Anywhere for that matter? Whether or not you had a wad of cash?!?!
> 
> Don't be silly, you won't be holding a neon sign saying "I'm minted, come rob me".
> 
> Don't you know that Thais regularly move large amounts of cash, we're talking millions of Baht at a time. Not by bank transfer. By withdrawing it from one bank and taking it to another.
> 
> Have you never seen people pay in huge amounts of cash at the bank having just offloaded their fishing fleet (for example)? I'm in banks regularly and see people with several bags full of cash.
> 
> Hell, my Aunt paid cash for her new BMW and didn't bat an eyelid at taking the B3 million with her.
> 
> I always bring large amounts of cash that I draw from my business in the UK. Otherwise the cost of withdrawals and conversions would be awful - the banks already take enough of my hard earned money, thank you very much.




Tell me more!!!


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## wildfk

BTW - if you think mugging is the only way to loose cash, you're a daft as your posts.


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## Bangkockney

wildfk said:


> BTW - if you think mugging is the only way to loose cash, you're a daft as your posts.


Regularly loose [sic] cash do you?


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## wildfk

so you're waking up a bit now?


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## Bangkockney




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## wildfk

So this is a "troll"???


"I'm not a great fan of TCs but I think the above post over stresses the problems. They are usually the cheapest , in not the most convenient way to by foreign currency - they are also easy to replace if lost or stolen. - I have witnessed a TC being turned down at a bank exchange booth - why was unclear. 

I use them only as emergency back up.

The rats of exchange obviously change every day - the best thing to do is check any internet site and knock off a couple of baht.

The banks in Thailand actually give a pretty good rate and the variation between banks is quite small - unless you're fanatically disposed to getting the best price I'd suggest the minimum amount of window shopping for rates - you'll waste more time than you'll save money.

If you are using an ATM card of any kind note that Thai banks charge an EXTRA 150 baht fee on the ATMs. This is on top of any charges your bank may make.

You can present your card to a bank or booth to change money - it's not clear if that avoids the charge - there may be a slightly different rate of exchange this way." - 

please explain......


actually don't bother.


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## Serendipity2

wildfk said:


> Yes, but what was wrong with my initial response? I'm perfectly aware of international currency issues and the best places to change them - so what is the problem with my advice? or are you just having a bad hair day?




wildfk,

Your initial response was excellent. The next few posts made no sense - especially when you say you're paid in Thai baht. The thread was in regard to exchanging money in Thailand which would mean either changing money from another currency into Thai baht or changing Thai baht into another currency. 

"I'm not a great fan of TCs but I think the above post over stresses the problems. They are usually the cheapest , in not the most convenient way to by foreign currency - they are also easy to replace if lost or stolen. - I have witnessed a TC being turned down at a bank exchange booth - why was unclear.

I use them only as emergency back up.

The rats of exchange obviously change every day - the best thing to do is check any internet site and knock off a couple of baht.

The banks in Thailand actually give a pretty good rate and the variation between banks is quite small - unless you're fanatically disposed to getting the best price I'd suggest the minimum amount of window shopping for rates - you'll waste more time than you'll save money.

If you are using an ATM card of any kind note that Thai banks charge an EXTRA 150 baht fee on the ATMs. This is on top of any charges your bank may make.

You can present your card to a bank or booth to change money - it's not clear if that avoids the charge - there may be a slightly different rate of exchange this way. "


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## Bangkockney

wildfk said:


> So this is a "troll"???
> 
> 
> [snip]
> 
> please explain......
> 
> 
> actually don't bother.


The OP asks about changing sterling / TCs, nothing to do with bank cards or being paid in Baht. 

You're just being belligerent.


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## JWilliamson

sounds like a slap in the face! "please explain......


actually don't bother. ".


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