Good money exchange in Pattaya?

[manarak]

Who knows a money exchange place in Patts that has good rates like Vasu in BKK?

[pattayachris]

Turn in to Rungland off Pattaya Tai and there is a gold shop second or third on the left. Best exchange rates in town.

[TTChang]

'TT currency exchange' (yellow sign, near Serene Mall on Second Road) has slightly better rates than the Banks' Exchange Booths, but I don't know if it's as good as Vasu.

PS. Nothing to do with this TT  

[donnykey]

There is an exchange on Walking St. 20/30 metres past the big tree....its the best by far....WHY you ask ?....You can haggle...Cheers DK

[manarak]

Thanks for all the info!

Why I ask?
Because I don't like to lose a shorttime just because I went to the wrong booth.

And how can I haggle if I don't have current rate info? The rate can jump anytime in the time I get to the booth.

Vasu is really good.
Before I go, I quickly check on internet the current rates, go there, and their rate is never away by more than 20 pips from the ask quote.
I think on a 1000 EUR transaction, they make about 250 to 300 baht profit.

And since I worked in a bank, I know that pulling money with the credit card is costly (those who pretend they got a good rate were just lucky, the rate probably moved in their favor).
Some swiss banks for example will sample 8 exchange rates of that day, and apply the worst for your transaction, put a variable FX-commission of 0.2 to 1.5% on it, plus a credit card commission of approx 0.25% to 2.5% (or a flat amount like 5 USD).

If I change 1000 EUR that way, the difference in rates can amount to 1000 (normal rip-off) or even 2000 baht (extra rip-off).

Actually, that's more than a shorttime in Patts.

[Chinaman]

But then this means that you travel with all that cash, right?

Personally I believe, that whatever you do, it levels out at some point. Could it be that - let's assume you have some cash left - you spend it but wouldn't if you had to retrieve it from the machine via yr ATM- or C-card?

I consider not having to travel with cash a major advantage. But I know that this is partly what keeps banks in business and pays their employees a handsome amount :-)

No criticism here, just another POV. But perhaps I'm overlooking something???

[Guest]

(pattayachris @ Jun. 15 2009,06:59) Turn in to Rungland off Pattaya Tai and there is a gold shop second or third on the left.  Best exchange rates in town.

Yes I second that, especially for amounts of cash in excess of £1000.00 in £50.00 notes Definitely the best rates in Pattaya but of course, only by the fractions.

[donnykey]

(manarak @ Jun. 15 2009,18:26)
Thanks for all the info!

Why I ask?
Because I don't like to lose a shorttime just because I went to the wrong booth.

And how can I haggle if I don't have current rate info? The rate can jump anytime in the time I get to the booth.

Vasu is really good.
Before I go, I quickly check on internet the current rates, go there, and their rate is never away by more than 20 pips from the ask quote.
I think on a 1000 EUR transaction, they make about 250 to 300 baht profit.

And since I worked in a bank, I know that pulling money with the credit card is costly (those who pretend they got a good rate were just lucky, the rate probably moved in their favor).
Some swiss banks for example will sample 8 exchange rates of that day, and apply the worst for your transaction, put a variable FX-commission of 0.2 to 1.5% on it, plus a credit card commission of approx 0.25% to 2.5% (or a flat amount like 5 USD).

If I change 1000 EUR that way, the difference in rates can amount to 1000 (normal rip-off) or even 2000 baht (extra rip-off).

Actually, that's more than a shorttime in Patts.

I wasn't referring why you personally ask  about exchange booths...I was referring why its the best....And I always exchange cash so I know the rate I can get and it is possible to look at a few of the exchange places I know are good and make sure I get the better rate at the walking st exchange by haggling....It's the way to go and works for me...i agree you don't get the good rates with Credit card transactions....Cheers Donnykey

P.S. Hope I explained that properly.

[manarak]

(Chinaman @ Jun. 15 2009,20:15) But then this means that you travel with all that cash, right?

Personally I believe, that whatever you do, it levels out at some point. Could it be that - let's assume you have some cash left - you spend it but wouldn't if you had to retrieve it from the machine via yr ATM- or C-card?

I consider not having to travel with cash a major advantage. But I know that this is partly what keeps banks in business and pays their employees a handsome amount :-)

No criticism here, just another POV. But perhaps I'm overlooking something???

Yes, I travel with cash, but not huge amounts.
Just what I need for my stay, generously calculated.

And one doesn't need lots of cash in Thailand...
This time will be my longest stay ever.
I calculate about 5000 baht per day, add a 20% uncertainty (for extra good ladyboys, LOL), I'll travel with about 2500 EUR on me, and I'll probably travel back with 500 in my pocket.

My credit cards stay in my hotel at all times and are my backup in case it turns ugly, like it did last november.

I wasn't referring why you personally ask  about exchange booths...I was referring why its the best....And I always exchange cash so I know the rate I can get and it is possible to look at a few of the exchange places I know are good and make sure I get the better rate at the walking st exchange by haggling....It's the way to go and works for me...i agree you don't get the good rates with Credit card transactions....Cheers Donnykey

P.S. Hope I explained that properly.

No problem!  

I'm partly german and that explains why I like a more "scientific" approach and... beer.


LOL


and thanks for the good info here! outstanding!

I'll let this board decide on my life in Patts:
- I'll book the TLF-recommended PBR
- I'll use the TLF-recommended exchange booth
- I'll get the TLF-recommended Ladyboys

[rxpharm]

Manarak, don't get too analytical about the lbs - you could come across an unposted lovely during your adventures!

Have a great time!

[Chinaman]

(manarak @ Jun. 16 2009,04:35) I calculate about 5000 baht per day, add a 20% uncertainty (for extra good ladyboys, LOL), I'll travel with about 2500 EUR on me, and I'll probably travel back with 500 in my pocket.

So, you'll stay some 20 days then if my math is more or less correct? ;-)

Generous budget that is, even if it includes the 999 THB for the PBR. But I know despite the low prices, money goes fast in Thailand ...

Have fun and lass Dich nicht unterkriegen ;-)

Cheers
CM

[manarak]

Deine Rechnung ist korrekt, und mein Budget schliesst in der Tat das PBR ein, obwohl auch einige Tage in Bangkok dabei sind.

Keine Angst, ich komme schon nicht unter die Räder :-)
Bist Du zu diesem Zeitpunkt auch unten?

   

Manarak, don't get too analytical about the lbs - you could come across an unposted lovely during your adventures!

I hope so!

That's what the extra 20% are for


I'll be happy to meet up with you guys from the forum.

[Stogie]

(rxpharm @ Jun. 16 2009,05:36) Manarak, don't get too analytical about the lbs - you could come across an unposted lovely during your adventures!

Don't listen to him.

Only ladyboys rubber stamped by this forum are worth bonking.

[SamplerDoc]

Still think a good atm is an easier and better route for a short trip into LOS.

[Chinaman]

(manarak @ Jun. 16 2009,07:17) Deine Rechnung ist korrekt, und mein Budget schliesst in der Tat das PBR ein, obwohl auch einige Tage in Bangkok dabei sind.

Keine Angst, ich komme schon nicht unter die Räder :-)
Bist Du zu diesem Zeitpunkt auch unten?

Nein, leider noch nicht. Bei mir wird's eher September werden, aber ab dann hoffe ich laenger und/oder oefter in Pattaya zu sein. Bin mir sicher, dass sich unsere Wege dann kreuzen werden.

Ich mach mir keine Sorgen, Du wirst das schon hinkriegen. 4000 pro Tag sollten reichen da sich mit 1500 + allfaelligen Tips locker eine ST und eine LT pro Tag ausgehen - Superstars vielleicht mitunter ausgenommen, aber die sind sowieso mit Vorsicht zu geniessen.

War im Mai eine Woche und die verging wie im Fluge und es gab noch so viele (von mir) ungekuesste LBs :-)

Na dann, mach's gut und lass uns an Deinen Abenteuern teilhaben