robjk

Hey Everyone,

Where should I convert Dollars to Baht?

I am traveling to Thailand at the end of March. I am getting quoted around 27.25 Baht for every one dollar.

On the site below, it looks like the major banks in Thailand are exchanging for about 30.45.

http://www.bot.or.th/english/statist...hangeRate.aspx

My question is where you think I should do my exchange? The rate in US is lower, but I'm not sure how easy it is to exchange in Thailand. What do you recommend?

Thanks.

Rob

glennaa11

just use your ATM card once you get to Thailand (as long as you have an account with a bank that doesn't charge a whole lot of fees). There are ATMs all over the airport.

I opened an account at TD Bank specifically to avoid ATM fees when I travel since Bank of America ripped me off for several years. If you are on the East coast there TD Banks around. I am sure there are other options. I found a very useful wiki a while back that lists all sorts of banks and their fees.

If you prefer to carry cash you will typically get a slightly better rate with large notes ($100). There are exchange counters all over the place too. Several in the airport and many around town. Also be aware that the 30.45 rate you see is likely the interbank rate, not what a consumer would get buying baht at an exchange counter. I think ATMs usually get a slightly better rate. But I have found that it's not worth those couple of dollars to worry about finding "the best" rate.

BigMoneyGrip

Do it in Thailand....there are exchange places all over bangkok.. bring crisp, new $100 bills for the best rate.

honeybanny

Do not change your $ outside thailand. you get much better rate within the country. On the airport you can change some of your us$ already right after arrival. No problem. the rates are a little bit different depending on the bank, Ayuttha bank had in the fast the best rate, follow by bangkok bank. But anyway if you change only a couple 100 bugs the different is no problem. You also can get cash thai bath via your creditcard at the ATM, just check with your bank regarding the fees, most of the time the fees are quite low but I heard also that some banks taking a lot. Have a great trip

EmailKid

All Thai banks now charge 150 Baht to withdraw cash from ATMs, though I understand that some foreign banks do not.

Most exchange places (including at the airport) give better exchange for $100 bills, though they usually do this for fifties as well.

Airport exchange as about 1% less than in the city, so exchange only what you need. Changing money before going to Thailand will normally get you less Baht than when in the country.

EmailKid

dsquared37

Aeon bank doesn't charge for ATM usage.

The airport exchanges offer worse than a 1% difference. Typically the rate is set at 0.6-1.0 THB less than that offered in town. We're in agreement that only the money needed immiediately should be exchanged.

usagishouse

Yeah I agree, just use your ATM card. That's the very best rate, also safest route to go.

wandertheglobe

Yeah, what they said... Change your $ in Thailand, bring newish $50 or $100 bills, no rips, tears or marks. I've had 1996 $100 bills rejected as well even if it looked good. Also, $20 bills are ok but will get a lower rate. Also bring your ATM card but do give your bank a head's up that you will be withdrawing money in Thailand or you are likely to have a card that does not work anymore!

EmailKid

It is my understanding that some foreign banks don't charge this fee, and you are correct, Aeon Bank does not either. Here's a link to interesting article that includes a link to Aeon Bank's ATM Locations, alas in Thai (Google Translate is your friend ).

Or, click English version @:-)

EmailKid, still carrying traveler's checks (for emergency)

dlflyer2

Change a minimal amount at the airport. Exchanges are readily available in all areas and easily identified. Avoid hotel exchange desks.

In the Sukhumvit area, at the juncture of the Bts(Asok) and the Mrt(Sukhumvit) stations there is a major Citi bank branch. Because it is a foreign bank, there is no 150 baht atm service fee.

It is also fun area with a brand new interesting mall concept called Terminal 21 with lots of varied food options.

glennaa11

This is very true. The one time I forgot to call in advance I had to track down a calling card at 7-11 so I could call back to the US and get my card unfrozen. The time and aggravation was a pain.

Here's that list of banks and their fees
http://www.flyerguide.com/wiki/index...reign_Exchange

I have one of the TD Bank accounts that reimburses fees charged by the ATM owner, including the 150 baht fee, and is otherwise fee-free on their end as well.

SK AAR

By all means, bring your USD to Thailand; do not change outside TH.

In BKK use Super Rich (www.superrich1965.com) or Super Rich Thailand (www.superrichthailand.com) money exchange near Central World and Big C departm. stores on Rachadamri Rd. Much better rates than at the banks.

Remember to bring your passport -you need ID to change money

EmailKid

Never been asked for my passport when exchanging ca$h.

Edit to add: or at ATM
EmailKid

jiejie

In addition to Superrich moneychangers, Yasu on Sukhumvit between sois 7-9 also normally has better rates than banks for changing currency notes.

dsquared37

If you're exchanging at Superich you will be asked to furnish ID before you'll be allowed to exchange money. Each and every time.