dsquared37

Unless using a higher denomination all that savings will be eaten up by the stamp fee. For the numbers you give the additional 35 THB received per $100 is likely what the fee is.

RoninTech

Thanks so much all. I'll do some digging into banks in downtown Hat Yai. Not sure what time they'd close as we should be at our hotel, Centara, around 3 - 3:30pm. If the Hat Yai banks won't be open then sounds like the exchange booths in Swampy is the way to go.

Thanks again!

Dr. HFH

Right, Dsquared37, completely forgot. So for USD, am I better off with $100 bills in cash or $500 travelers checks, both the largest denominations available?

You going to be around second half of February?

transpac

The additional fee for exchanging travelers checks is 33 baht per check, for any denomination.

dsquared37

Which, with a $100 TC, would completely negate any 'better rate' that the TCs were being exchanged for. TC's effectively receive a better rate when using a denomination >$100.

transpac

Yes, the break-even point here is ~ $130 USD factoring in the 33 baht fee, assuming you were able to get the TC's without any fee. TC's obviously offer additional features/value.

RoninTech: I assume you are monitoring the current weather/flooding situation in the South? From the TV reports it looks quite bad.

Sirhalberd

I can't see you ever getting a better rate changing your dollars to Thai baht in Canada unless someone screws up. I do know there are bank money changers available at Suvarnabhumi 24 hours a day for arrivals and for departures. When you change your dollars at one of these many bank money changers there is no real commission to pay either.

I have been to Hat Yai several times but not at the airport. How much time do you have between flights? At Suvarnabhumi there are even some bank money changers near where the carousels are located between immigration and customs. For transit passengers I believe there were bank money changers near the stores selling the expensive stuff that you pass by on the way to your gates. There are ATM's available that could tide you over to you reach a bank money changer in Hat Yai.

There is no fixed rate for changing your currency to Thai baht. The rate you get today has little bearing on what you will get 3 weeks from now. The exchange rates change every working day, either up or down. The rate you get at the airport should be identical to the same bank in the city for that same time and date. You cannot compare rates you get one day against the rate you get another day or another week later even at the same bank. There can be some variation between different bank companies.

I like travelers checks and can get them without any charge from my credit union. If you do bring them only bring the largest denomination you can get. There is a 33 baht fee to cash a travelers check so don't waste it on $5 or $10 checks. Stick with the $100 or $200 sizes at least. Travelers checks when changed in Thailand get a hair more in exchange than ordinary cash. Compared to the 150 baht fee for using an ATM a 33 baht changing fee is pretty cheap.

Here is a link to various bank exchange rates. The rates on these charts are adjusted at least every working day. Find your currency and see what the current rate is. Super Rich is a private money changer.

http://bankexchangerates.daytodaydata.net/default.aspx

I think it would be easier on you to spend at least a day or two in Bangkok instead of flying out immediately to Hat Yai. I never found Hat Yai to be that interesting other than a few days of transit en route to Malaysia or a train stop layover. Hat Yai is very popular with Malaysians who go there for the nightlife and alcohol.

dsquared37

You obviously didn't read, nor even parse through, the responses so here goes:

This has been discussed extensively and yes, there is a commission of sorts. The exchange in BKK, at every single little booth, is exactly 1 THB/ 1 USD less than the banks exchange rate outside of the airport.



Thank you for the little bit of high school intro to econ. But the fact is the underlined portion is completely and totally untrue. See above.

Yes, discussed already blah blah blah....

yes, posted already upthread (and the site is updated multiple times daily).

OP never asked for itin help, they simply wanted to know the best way to exchange money. And, just to help ya a little, OP is heading to an island which, one would guess, most easily accessed from HDY. That was present in OP's second posting, just in case you missed it.

Next time read the OP and responses. Thank you.

RoninTech

dsquared37 is right. We are going to Hat Yai as it is then just a 1.5 hr taxi/mini-van ride to the Andaman coast from where we take a ferry to our island. We've been to Hat Yai many times and have had some good times there. To each their own I guess. We are stopping in BKK on the way home so Mrs. RoninTech can do her annual MBK shopping frenzy.

Sirhalberd, since you are familiar with Hat Yai, any idea what time the banks close on a Friday? We've always shown up in Thailand with our Baht so have never needed to use banks there before. We should be in downtown Hat Yai (Centara) around 3-3:30pm on the Friday we get there. We leave at 9am for the coast the next morning so no time for any running around and since it's a Saturday I imagine the banks wouldn't be open anyway?

Thanks again to all responders.

dsquared37

Considering the prevalence of tourism in Hat Yai, specifically from Malaysia and Singapore, I'd be very surprised if there wasn't a glut of exchange booths, at the least.

Like I said earlier, the one time I was there the streets were piled high with debris so the town that I saw was quite different from the normal place.

seanthepilot

Changing from CDN to THB is not bad value. Certainly better than changing currencies twice. For the Canadian traveler to Thailand, there is no reason to exchange into US first, in fact it just wastes money in transaction fees.

Most ATMs in Thailand have a 20 bill per transaction limit. Bangkok Bank has 25 bill per transaction limit. This means that the maximum is 20,000 on most machines, and 25,000 on Bangkok Bank. I have seen the odd Aeon machine that will dispense 40 bills at a time, which is great if you want to minimize the (at home) transaction fees.

RoninTech

Yeah we've been there before during flood years but always after it has subsided. We try to avoid the area until mid January. We have over 2 weeks to go before we get there and since we've passed the typical rainy season things should be better by then.

Knock on wood...

dsquared37

Today's rates at SCB in Swampy:

USD--> THB 30.60 (cash) 31.60 (T/C)
CAN--> THB 30.39 (cash) 30.75 (T/C)

Today's published rates for SCB (anywhere but in swampy):

USD--> THB 31.45 (cash)

Today's published rates for Superich:

USD--> THB 31.88 (cash)

It appears that TC's are a good option in the airport.

transpac

I honestly did not know that TMB and SCB offered lower rates at the airport, adding what is now currently a 3% service charge, on USD anyway. I guess I'm not shocked or surprised, but certainly disappointed.

The 'spread' at a money changer in town is ~ 10 satang (100 satang = 1 baht), while at a bank in town it might be ~ 65 satang, at the airport it was 1.6 baht (on Saturday)!

The Travelers Check rate was the same at the SCB branches at the airport, and those in town, 31.42 when I looked at both on Saturday.

FWIW, most savvy Thais head up to Soi Phradiphet (Saphan Kwai, yes there was once a bridge for buffaloes here ) for cash exchanges, but the rates are only microscopically better than SuperRich in Ratchadamri. Not worth the trouble IME unless you are exchanging thousands of Euros.

goodeats21

Is there any difference in the ATM exchange rate at BKK compared to in town?

I am well aware of the 150 baht charge, but am curious if the ATM exchange rate is less at the airport like the currency exchange booths.