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Where to change $$ @ CNX?

Where to change $$ @ CNX?

Old Nov 30, 19, 6:59 pm
  #31  
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Originally Posted by transpac View Post
Think your net was $33.12? ( $40.42 and today $7.30 was refunded ). Typo, as you got the rate correct.

Guessing this was Fri. (29th?)?

Again, guess the ATM fee was 220 THB, so 1,220 THB netted $33.12, for a rate of 33.183. Definitely spot on for the Visa rate, and the way to go assuming you get ATM fees rebated.

https://usa.visa.com/support/consume...+exchange+rate

Rate today at volume money changers in Bangkok is ~ 30.15. Bank counters are ~ 30.09 and Visa is 30.13.


The government is trying to control the THB without offending too many people. That said, some forecasts have the baht at 29.5 by the end of 2020. Obviously, this impacts exports and tourism.
my bad youre correct it was $33.12 net net. The ATM was Weds 11/27 and the ca$h at Super Rich & SK were Fri 11/29. Next time over I will stick to the ATMs but bring alittle ca$h in case where I am either theres no close by ATM or the rates are real bad

FWIW my DC is a MC and not a Visa, but I doubt that should matter
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Old Nov 30, 19, 7:08 pm
  #32  
 
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Originally Posted by transpac View Post
Think your net was $33.12? ( $40.42 and today $7.30 was refunded ). Typo, as you got the rate correct.

Guessing this was Fri. (29th?)?

Again, guess the ATM fee was 220 THB, so 1,220 THB netted $33.12, for a rate of 33.183. Definitely spot on for the Visa rate, and the way to go assuming you get ATM fees rebated.

https://usa.visa.com/support/consume...+exchange+rate

Rate today at volume money changers in Bangkok is ~ 30.15. Bank counters are ~ 30.09 and Visa is 30.13.


The government is trying to control the THB without offending too many people. That said, some forecasts have the baht at 29.5 by the end of 2020. Obviously, this impacts exports and tourism.
No. 1220 thb cost him $40.42. That equals an exchange rate of 30.18. (There's no "netted" involved when calculating the exchange rate. If you want to remove the dollar value of the ATM fee you must remove the thb value on the other side of the equation.)

If you want to remove the ATM fee, then 1000 thb cost him 33.12. That equals an exchange rate of 30.19, which is close enough to 30.18 to account for daily fluctuations.
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Old Nov 30, 19, 7:48 pm
  #33  
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Originally Posted by craz View Post
FWIW my DC is a MC and not a Visa, but I doubt that should matter
MC shows $40.38 for 1,220 THB on 27 Nov 2019.

https://www.mastercard.us/en-us/cons...-currency.html

ATMs are the way to go, assuming you get the ATM fee rebated.
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Old Dec 1, 19, 12:17 am
  #34  
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Originally Posted by transpac View Post
MC shows $40.38 for 1,220 THB on 27 Nov 2019.

https://www.mastercard.us/en-us/cons...-currency.html

ATMs are the way to go, assuming you get the ATM fee rebated.

nice site, thx

btw I put in 0% for atm fee and it came back as $33.10, but the rate does move up and down so no big deal that I paid 2 cents more, and I used the K ATM @ CNX which pays better then the others

to clarify for someone reading this bear in mind my US bank doesnt charge me any fee on their end and refunds me any fees the other bank will charge, otherwise if you have to pay one or both banks its not worth using an ATM and using ca$h is the way to go
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Old Dec 1, 19, 12:56 am
  #35  
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Originally Posted by craz View Post
nice site, thx

btw I put in 0% for atm fee and it came back as $33.10, but the rate does move up and down so no big deal that I paid 2 cents more, and I used the K ATM @ CNX which pays better then the others

to clarify for someone reading this bear in mind my US bank doesnt charge me any fee on their end and refunds me any fees the other bank will charge, otherwise if you have to pay one or both banks its not worth using an ATM and using ca$h is the way to go

The rate is determined by Visa or Mastercard. Any local bank's ATM would be the same, although some, like AEON, still only charge 150 THB. So Kasikorn Bank doesn't "pay better".
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Old Dec 1, 19, 2:30 am
  #36  
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Originally Posted by transpac View Post
The rate is determined by Visa or Mastercard. Any local bank's ATM would be the same, although some, like AEON, still only charge 150 THB. So Kasikorn Bank doesn't "pay better".
let me see if I understand you correctly, I walk up to the K counter & Atm, the rate sign says for 50s/100s they are paying 21.10, I use their Atm and click I want MC to determine the rate, MCs rate is 31.10 so I will end up getting then31.10 rate even thou Ks rate is 21.10 or vice versa Ks rate is 21.10 and MCs is 11.10 by choosing to have MC determine the rate I end up on the short end. In other words what rate is posted has absoluely no affect on the rate I end up getting as long as I chose that the atms bank isnt the party to determine what the rate is

I know when I was in BKK I guess I pressed that SCB should determine the rate and it wasnt very good a year+ ago, Ks language was alot clearer at least to me.

So as long as MC or Visa will be teh party to determine the rate it makes no difference which Atm is used or what rate they have posted on their sign, that is unless you mess up like I did last time @ BKK and click the wrong button
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Old Dec 1, 19, 4:27 am
  #37  
 
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Originally Posted by craz View Post
FWIW my DC is a MC and not a Visa, but I doubt that should matter
It's probably no big deal,but there is a difference. For UK users Mastercard beats Visa in most cases, according to an analysis from a couple of years ago.
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Old Dec 1, 19, 8:16 am
  #38  
 
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Do it at superrich as advised earlier. It's a couple of bahts better most of the time.
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Old Dec 1, 19, 5:45 pm
  #39  
 
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Originally Posted by craz View Post
let me see if I understand you correctly, I walk up to the K counter & Atm, the rate sign says for 50s/100s they are paying 21.10, I use their Atm and click I want MC to determine the rate, MCs rate is 31.10 so I will end up getting then31.10 rate even thou Ks rate is 21.10 or vice versa Ks rate is 21.10 and MCs is 11.10 by choosing to have MC determine the rate I end up on the short end. In other words what rate is posted has absoluely no affect on the rate I end up getting as long as I chose that the atms bank isnt the party to determine what the rate is

I know when I was in BKK I guess I pressed that SCB should determine the rate and it wasnt very good a year+ ago, Ks language was alot clearer at least to me.

So as long as MC or Visa will be teh party to determine the rate it makes no difference which Atm is used or what rate they have posted on their sign, that is unless you mess up like I did last time @ BKK and click the wrong button
Sounds like you're confusing the rate that K bank has posted for changing currency with the rate you'd receive by using the ATM. What K bank posts as the exchange rate for exchanging currency has little or nothing to do with the rate you'll receive by withdrawing cash from that same bank's ATM.

The bank sets the exchange rate for exchanging currency; VISA/MC sets the rate for using an ATM to withdraw cash on their cards. Almost without fail, the ATM rate will be better than exchanging currency with the bank, particularly at an airport.
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Old Dec 1, 19, 5:53 pm
  #40  
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Originally Posted by craz View Post
let me see if I understand you correctly, I walk up to the K counter & Atm, the rate sign says for 50s/100s they are paying 21.10, I use their Atm and click I want MC to determine the rate, MCs rate is 31.10 so I will end up getting then31.10 rate even thou Ks rate is 21.10 or vice versa Ks rate is 21.10 and MCs is 11.10 by choosing to have MC determine the rate I end up on the short end. In other words what rate is posted has absoluely no affect on the rate I end up getting as long as I chose that the atms bank isnt the party to determine what the rate is

I know when I was in BKK I guess I pressed that SCB should determine the rate and it wasnt very good a year+ ago, Ks language was alot clearer at least to me.

So as long as MC or Visa will be teh party to determine the rate it makes no difference which Atm is used or what rate they have posted on their sign, that is unless you mess up like I did last time @ BKK and click the wrong button


You seem to be confusing exchanging foreign currency with making an ATM Debit Card withdrawal. These are two completely different actions.

Currency Exchange: Kasikorn, or Bangkok Bank or TMB or any Thai bank, and any independent currency exchange services (like Superrich) operate foreign exchange booths, where they determine the rate.

https://www.kasikornbank.com/en/Rate...-Exchange.aspx Looks like 29.81 right now (Monday, 12/2 06:40)

Superrich in Chiang Mai looks like 30.10 right now. (Superrich in Bangkok is 30.15 right now.)


Kasikorn et al. also operate ATMs, and when you make an ATM withdrawal using a foreign ATM Debit card, either Visa or MC determines the rate, while the ATM operator charges a fee (150 - 220 THB currently).

https://www.mastercard.us/en-us/cons...-currency.html Looks like 30.22 right now, assuming no ATM fee or it is rebated. (By adding in the fee then the rate drops variably based on the amount, hence it may be better to bring cash and exchange it.)



"So as long as MC or Visa will be teh party to determine the rate it makes no difference which Atm is used" Yes, to the extent that some ATMs charge as little as 150 THB.


or what rate they have posted on their sign Signs indicate their own currency exchange rates for that day and do not reflect rates given at their ATMs by Visa or MC


I'm not sure what you did in BKK previously but am guessing you opted for DCC.
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Old Dec 1, 19, 7:31 pm
  #41  
 
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In my experience K bank does not have good rates. The non bank money exchangers including Superrich has better rates. Supperich office near Central World obviously has the best rates.
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Old Dec 2, 19, 1:28 am
  #42  
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I will try to clear up why I thought as I did.

When I was in BKK a year+ ago, I ended up using my DC at a SCB ATM/Exchange booth on the Departure floor, since I saw everybody was posting the same rates

I wrote down the rates I saw posted vs the USD. When I checked my bank acct after the fee was refunded , I ended up pretty close to the rate that was posted and I had clicked for the bank to use its rates, so MC wasnt involved. It wasnt till a few weeks ago and reading one of my posts from back then that I saw I made the mistake and chose the bank to do the conversion. So I ended up thinking all along that the booths posted rates were what was used by my bank as well9Visa or MC really).

I now fully understand that the only time the ATM rate and the booth rate will be the same is if I click that the ATM should use the banks conversion rate rather then MCs or Visas. And as a couple of you posted once you opt in that MC or Visa should be the ones doing the conversion that most likely I will end up with a better rate thusly costing less USD

I always understood how it worked with a private ATM, but as you can see I didnt have it correct regarding a reg banks ATM. I hardly use ATMs as I in 99.99% of the times charge the item to my CC

Im not saying there arent any cases where in Europe a banks ATM wont ask whom do you want to do the conversion, but I dont recall anytime where I ran across that except a private non-bank atm., In most cases I assume the bank will turn the converting over to the brand that issued the DC. I dont recall having that problem in HKG either nor SIN. So it could be when hitting the Asian 3rd World Countrys thats where it occurs

Thx everyone for the education lesson, back to some snow tomorrow, hate to leave CNX where Im sweating bullets walking around in shorts and a tank top
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