shore9

I am looking at getting some Baht's before I head off to Thailand. I called HSBC and they do not exchange canadian money to Baht. Any suggestions as to where I should exchange my money, I just want to get a few thousand baht before I get there. I figure the airport will sell me some, however at a high rate.

IluvSQ

Why not just buy when you get there?
Change about $10 at the airport, which will be more than enough for a
cab to your hotel, then change your money at any of the banks money
exchange on the streets around all the tourist areas.

Much, much better rates than anything you will do here.

acysb87

Agreed.Canadian airports are expensive.




Now waiting for this thread to be moved.

Simon

Your wish is granted.

seanthepilot

You've got it backwards. Best rate is in Thailand, by far.

Bring Canadian dollars. Change them here, in Thailand. Make sure your bills are the new style, not ripped or dirty.

Before you leave change you Baht back.

If you bring travellers checks. Do Not bring 20's or 50's, stick to $100 and $500 notes.

Don't waste your time with the Yankee buck either.

shore9

Can money be exchanged with a bank card at BKK airport, or is it best to have cash? I was planning to exchange most of my money at the BKK airport, as I have heard that will give better rates, but want to have a few baht ahead of time just in case.

edsh

Exchanging money in the airport is easy. With the continuous arrival of international flights, the currency exchange windows stay open 24 hours a day. I have never had trouble with ATM machines in BKK either. ATM cards work easily and might give you a better exchange rate than cash exchange however, for the small amount of money you are describing, there won't be much difference.

As a rule of thumb, never try to obtain Thai Bhat in Canada. You'll find yourself facing terrible exchange rates and service fees. Also, be sure you get rid of your Thai currency and exchange it back into Canadian dollars before you leave Thailand (unless you want to keep a little as a souvenir).

iancanton

edsh is right. since it's so easy and such good value to change ur canadian banknotes to baht at bangkok airport as soon as u arrive, there is no reason to change ur money to baht in canada. thai government exchange controls mean that the base exchange rate is about 10% better in thailand compared with in western countries. factor in the fat bank charges and profit margin of most western banks and u're looking at a difference of typically 15%.

the thai exchange counter's profit margin on us dollars can be about 1% less than on canadian dollars but, unless u already have us dollars or can change to us dollars at zero cost, it'll normally be cheaper to bring whatever major western currency u already have in ur hand (loonie included).

ian.

iancanton

incidentally, u will receive more baht for a canadian dollar than for a us dollar at the moment. however, given current exchange rates, that is as it should be.

ian.

sinecure

For those interested, BMO will put through larger change orders for you if you are their customer.

Or.. You can use Custom House, they offer competitive rates and can often secure any amount you want within a few days.

E

http://www.customhouse.com/company/c...A-BC-Vancouver

yyzgigi

Good advice, but as everyone has said for Thailand you'd be a fool to use a Canadian bank. The exchange at the airport and everywhere give a very completive rate. Rather than exchanging it back before you return, assuming I have a paid ride, I always dump my remaining local currency into the last nights hotel stay (with the balance on credit card) and then I don't lose anything on the exchange, failing that there is always duty free.

daniellam

When travelling to foreign countries, I always use my remaining foreign currency to settle a part of my hotel bill.

seanthepilot

IN Thailand

ATMs are great. They are everywhere. Most dispense 20 bills at a time. Bangkok Bank dispenses 25, making the maximum withdrawl 20-25,000 at a time. They give an OK rate as set by your bank, minus fees. My TD Select Account chages me ZERO ATM fees worldwide (except credit unions in BC oddly enough).

Don't change all your money at the airport. The difference is to little to matter. Money changers are everywhere.

The best rate is changing Travelers Checks, but for each check there is a fee (of about a dollar). That is why I suggest $100 or $500 notes. I only buy 500s. Travellers checks need a passport to cash them, (good to think about if you're sending your passport to an embassy for a visa)

2nd best rate is for cash.
Canadian cash gets the same rate no matter what size of bill it is. 34.88 was todays rate.
US cash gives 3 sets of rates lower for $1-5-10 bills, 20s & 50s get a bit better rate, and $100s get the fair rate.
Super Rich gets the best Cash only rate. Google it for the one location in Bangkok.

If the money is worn, tattered, or ripped in anyway, they won't accept it. Also if it's a older edition bill, it won't be accepted.

coxta

I've always found the best rates at the BKK airport.

AgonyWagon

I agree with the bills being new, crisp and clean, but despite the strength of the Canadian dollar, the US dollar is preferred. I was unable to change Canadian cash is smaller towns. Would you rather be in Didsbury [insert any small town] with Baht or Euros?

I thing ATMs are the way to go. Anywhere in the world I have used ATMs I have gotten a decent rate even after the Interac charges. Sure there are fees but you tend to minimize 'tourist-taxes'.

I am really envious of you. I spent a year in Thailand and miss the people and the food. You'll have an awesome time!