Baht exchange rate...

[robbo]

on various occasions chattin with guys in bkk who are just there for hols, its clear many guys use different methods for getting their home currency into baht,im looking into whats best as far as getting the best rate,mainly because i want to get away from using my plastic so much.guys what works best for you? any recent rates you got on recent trips etc?

[seanbeag7]

try this link: x-rates.com

1euro = 50.2015 thb

[pSb]

is airport still the best place to exchange your currencies ?
or maybe some exchange rate shops on the street like in spore/HK/KL where they have much better rates ?

[robbo]

yes cheers SEANBEAG i do use those sites XE.COM also im wondering about actual rates inside LOS, on the soi, banks etc exchange booths, ive previously used ATM,plastic to pay bills,and plastic to buy at booths and banks,and exchanged some foreign notes at same.im interested to what guys are doin and getting.

[PigDogg]

It's my understanding that any given Thai bank has the same FX rate in all its branches.

Travelers checks get a better rate than cash but there is a fixed charge of 33 baht per check. So if using TC try to buy extremely high denominations.

For cash American 100's get a better rate than American 20's which get a better rate than American 1's.

The rates and fees charged using your Visa/Mastercard from your home country in an ATM are not transparent. There could be fees levied by the Thai Bank, your bank, and/or Visa.

For really "large" amounts you can wire transfer from your account at home to your account in Thailand. I'm told that for Americans if you have an account at Bangkok Bank in Thailand you can do an ACH transfer from your bank to Bangkok Bank in New York and the fees are extremely low.

[PigDogg]

Robbo, here are Siam Commercial Bank's rates for the past 5 years. These rates don't apply if you stick your ATM card into their machine. Rather these rates are if you exchange cash, traveller's checks or do a wire transfer,

5 Years of Rates for Siam Commercial

[robbo]

yes this is good i may just do the travel cheques next time as youve said in the highest value poss and cash in all or half on arrival in BKK ,as ive said plastics great as less to carry about and worry over loss etc,but carrying larger amounts of cash is ok as long as most is locked up in hotel safe.

[robbo]

(PigDogg @ Aug. 25 2008,00:18) Robbo, here are Siam Commercial Bank's rates for the past 5 years.  These rates don't apply if you stick your ATM card into their machine.  Rather these rates are if you exchange cash, traveller's checks or do a wire transfer,

5 Years of Rates for Siam Commercial

nice one good info cheers my man

[rxpharm]

Note that there is a "stamp" charge with traveller's cheques. It is best to get large denomination cheques so as to minimize the effect of the stamp charge. For example if USD, get $500.00 denominations instead of 50 or 100.

[Guest]

Hi Robbo
Well I just lodge a load of cash in my Mastercard, its issued here in Ireland, and as the money I take out is my own I have never had to pay any charges of any type. Handy when you need 500 baht just before you leave LOS for example.

I find the banks with the best rates are Kasikorn Bank. Siam Commercial Bank, Bank of Ayudhya and also Siam City. Funny enough even these banks can vary the rate from ATM to ATM on any given day, so if you find a good rate with one, check its other branches to see if the rate is higher or not. TIT after all.

[Road Runner]

Hello Robbo,

After a lot of research I discovered that the best bet for a UK traveller is to get a Nationwide Flex Account and use the debit card that comes with it.
You don't get charged exchange fees and the exchange rate you get at ATMs will be the going rate for the bank.

As Burenboy suggests I go for the Bank of Ayudhya machines when possible as normally they have a fractionally better rate.

As suggested above the next best bet is large denomination travellers cheques.
I always carry a few just in case the cards get pinched.
Last time I echanged any (roughly 2 years ago) the stamp duty was 3 Baht/cheque.

RR.

[Road Runner]

Hello Psb,

There is not much difference between the exchange rate at the Airport in Bangkok and the exchange booths and banks downtown.

Generally the exchange rate in the booths around Nana will be about 0.3 Baht/£ - 0.2 Baht/$ or Euro - better than the airport.
I have occassionally found that the booth near the bottom of Soi 7 gives a better rate than the one in the entrance to Nana Plaza.

If you go into one of the banks and exchange a larger sum then you can get a slightly better rate than the booths.

RR.

[PigDogg]

I don't think the exchange rate you'll get on your western issued ATM card depends on which Thai bank's ATM machine you use. It's possible that the banks charge different service fees though.

[PigDogg]

(bumblebee @ Aug. 24 2008,13:17) Well I just lodge a load of cash in my Mastercard, its issued here in Ireland, and as the money I take out is my own I have never had to pay any charges of any type.

Even if you prepay an American CREDIT card you'll still probably be hit with a 3% cash advance fee.

With a DEBIT card it's different but a thief could empty your whole account while with credit cards you're generally at most just liable for the first 50 bucks of fraudulent charges.

May be different in the Emerald Isle!

[Road Runner]

Hello PD,

There is often a fractional difference in the rates each bank offers - like 0.01-3 Baht - though you could spend more in shoe leather walking between banks!
Like I said the UK Nationwide Flex Account card has no fees - the only one I know of in the UK.

Burenboy could be right about the Mastercard - the UK/Ireland terms and conditions are markedly different to the US.
Same with debit cards - we only get done for the first £50 unless the bank can show you were negligent.
Luckily that is not easy for the bank to do and in fact they sometimes waive the £50.

RR.