Baht exchange rate...

[PigDogg]

(Road Runner @ Aug. 24 2008,15:40) There is often a fractional difference in the rates each bank offers - like 0.01-3 Baht -

RR.

But that's for exchanging cash or TC.

If you're dipping your credit/debit card into a Thai bank's ATM you're getting the interbank rate minus a percent or so from Visa/Mastercard, a percent or so from your bank at home, and an ATM fee from the Thai bank.

The ATM fee from the Thai bank is a completely different animal from the posted exchange rates you see at the exchange booths of the banks. I've never seen the ATM fee posted at a Thai bank but I'm sure they're assesed.

[kevin4252]

Just really for convenience sake, I use a bank ATM card, and like RR says, much better uses of ones time then running around chasing rates, I always use the ATM machine about 25 yards down from nana, on same side outside of a little restaurant, see y'all in 60 hours or so

[Guest]

(PigDogg @ Aug. 25 2008,06:25)

(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!    

Not sure how it works exactly, but I think because the money is actually yours and not a credit advance as such they don't charge for it. I read about this credit card way of withdrawing money without charges in an Irish newspaper a few years back.  I have never seen any charges on my credit card statements, but yes it may be different if it's issued in Ireland, mine is with Mastercard through the Allied Irish Bank.

[Guest]

This could be useful
http://www.bankthailand.info/ExchangeRates.htm
All thai bank are listet here.
Most of the thai banks change the rate twice a day.

Just remember to NEVER change cash at the airport (use atm) and never bay Baht in your country!

[Road Runner]

(PigDogg @ Aug. 24 2008,23:04) If you're dipping your credit/debit card into a Thai bank's ATM you're getting the interbank rate minus a percent or so from Visa/Mastercard, a percent or so from your bank at home, and an ATM fee from the Thai bank.

That's the beauty of the Flex Account card - NO exchange fees!

I did an experiment and exchanged cash and did an ATM card withdraw the same day.
There was a slight difference but it was something like 0.02 Baht/£ - less than the difference between exchange booths.

RR.

[Lefty]

(PigDogg @ Aug. 25 2008,06:25) 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.

I guess it is possible if you don't know your card was stolen and the thief has your pin.

My debit card, for example, has a limit that can be withdrawn in a 24 hr period, so in theory one would hopefully know their card was missing in that time and report it. The max amt then a thief could get would be one daily limit, and that would only be if you had not used the card yourself yet in that period.

[PigDogg]

(conan111 @ Aug. 24 2008,17:09) This could be useful
http://www.bankthailand.info/ExchangeRates.htm
All thai bank are listet here.
Most of the thai banks change the rate twice a day.

Just remember to NEVER change cash at the airport (use atm) and never bay Baht in your country!

Now that's a great website Conan!

But don't those rates apply in a bank's branches at Bangkok airport too?

You're right buying baht at home is a very bad move.

Btw, the exchange rate at the Bali airport is also very poor and I wouldn't change more than 20 USD there.

[pSb]

never use the exchange at indonesian airports, the rates are very lousy..
thanks RR for the info..
could we get better rates at the bank branches at the airport for larger sum of money ?

[rxpharm]

The exchange rates at the Suvarnabhumi Airport are actually pretty good, very little difference there compared to the exchange booths/banks in the city.

RR, wow, it's been a long time since you've cashed traveller's cheques, the stamp duty is now 33 baht per cheque (close to 1 USD).

pSb, you will only get better rates if you use large denomination US currency compared to the low denomination bills. Large denomination traveler's cheques are already at a better rate than cash. They will not offer a better rate for large denomination cheques - you will do better at minimizing the stamp charge.

[pSb]

thanks...
ill keep that in mind...
cant wait to go there ..2 weeks to go..

[PigDogg]

(rxpharm @ Aug. 25 2008,09:01) The exchange rates at the Suvarnabhumi Airport are actually pretty good, very little difference there compared to the exchange booths/banks in the city.

Does anyone know for sure that there is ANY difference between a Bangkok bank and the branch of the same bank at the airport?

I think we assume there's a difference because in many other countries it's a ripoff to exchange currency at airports. I know exchange rates are extremely poor at JFK and the Bali airport.

[Road Runner]

Hello PD,

I can say absolutely hand on heart etc. etc.....

The exchange rate at the airport is about 0.2 Baht/US$ or Euro  -  0.3 Baht/£ worse than the rate at Nana. It was the same at Don Muang.

If you are changing $100 it means a difference of about 20 Baht.
Not really worth worrying about when you need taxi money but you are better off keeping the rest of your cash T/Cs and changing them in the city.

The little bank on On Nut BTS station that is usually about 0.35 Baht/£ better than the airport.

RR.

[SamplerDoc]

I think there are a few threads on this topic if that helps

[Guest]

Just to confirm Road Runner`s appraisal for all Brits out there. Get yourself a Nationwide Flex account with the associated Visa Debit Card. FULL Forex rates paid and NO charges whatsoever. You can withdraw up to £250 worth a day. Best and most convenient way to get cash out ANYWHERE in the world. I never take any money with me until I find a cash machine at the airport I arrive at and just go on from there on a daily basis if necessary.

[Guest]

(rxpharm @ Aug. 26 2008,00:01) The exchange rates at the Suvarnabhumi Airport are actually pretty good, very little difference there compared to the exchange booths/banks in the city.

RR, wow, it's been a long time since you've cashed traveller's cheques, the stamp duty is now 33 baht per cheque (close to 1 USD).

pSb, you will only get better rates if you use large denomination US currency compared to the low denomination bills. Large denomination traveler's cheques are already at a better rate than cash. They will not offer a better rate for large denomination cheques - you will do better at minimizing the stamp charge.

I haven't heard about traveler's cheques since 1993.
Still exist??