Forex: Superrich Intl Exchange – Family Drama?
Oct 22, 2023, 4:49 pm
#1
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Forex: Superrich Intl Exchange – Family Drama?
I have recently moved (back) to BKK after 10 years abroad and I noticed for a while now that a family owned forex business now has a 'green' vs. 'orange' branch. Sometimes I'd see them side-by-side / literally competing with one another, not sure if this is a totally accurate statement though.
Does anyone know the full story? I was advised there was a huge drama within the family and that's why they split up.
Does anyone know the full story? I was advised there was a huge drama within the family and that's why they split up.
Oct 23, 2023, 4:53 am
#3
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I guess all we'll ever know is "the fam broke up" and hence why we see two colours. I know family matters tend to be private / less publicised but my nose just keeps longer and longer the less I know.
Oct 25, 2023, 8:15 am
#4
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Yeah and it means you have to check the rates, because one of the two colors (I forget which) offers a pretty crappy rate.
Oct 25, 2023, 10:40 am
#5
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Oct 25, 2023, 9:20 pm
#6
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They both (SR Orange and Green) have apps and web pages. You can check the rates at any of the locations. The difference between SR Orange and Green is usually not that wide that it would make a significant difference to most people, but sure, there's a small difference, maybe 15 satang per $100 USD when comparing SR Orange at BTS Asoke (very convenient and busy location) vs SR Green HQ rates. A more reasonable comparison would be HQ rates vs HQ rates, which narrows the difference to 2 satang per USD$100. 1 satang = 1/100th 1THB. How many people here would go out of their way for 2 or even 15 satang per $100?
The rates at any of the SR Orange or Green are heads and tails better than the rip off places you see elsewhere around town or at the airport. And a fee free debit card with ATM rebates is of course better than any of them because you don't have to go hunting or traveling for anything, just use the nearest ATM.
Another FT favorite is Vasu Exchange, located under the BTS Nana station on Sukhumvit very close to the Hyatt Regency Sukhumvit They have a website with their rates. You can find it on google maps including a link to their rates.
-David
The rates at any of the SR Orange or Green are heads and tails better than the rip off places you see elsewhere around town or at the airport. And a fee free debit card with ATM rebates is of course better than any of them because you don't have to go hunting or traveling for anything, just use the nearest ATM.
Another FT favorite is Vasu Exchange, located under the BTS Nana station on Sukhumvit very close to the Hyatt Regency Sukhumvit They have a website with their rates. You can find it on google maps including a link to their rates.
-David
Last edited by LIH Prem; Oct 25, 2023 at 9:28 pm
Oct 25, 2023, 9:47 pm
#7
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What I like is how those "big three" booths in the basement area of BKK's MTB all rate matched each other and the forex ladies are all competing for cx by shouting "same rate, same rate" all at once. There have been instances where I just popped over to K-Bank booth (which usually has a terrible rate if you go to the ones on arrivals / departures level.) or even the yellow one since the green SPR queue was incredibly long.
Last edited by Jason77W; Oct 25, 2023 at 9:53 pm
Oct 25, 2023, 9:51 pm
#8
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For most U.S. tourists who are not looking to exchange a fortune amount of money, this option seems to be the easiest. I have a U.S. account w/ HSBC so those annoying THB 225 fees are something I'd get rebated for + getting my cash at a decent MC rate. I find this third party 'fee rebate' thing on ATM withdrawals is something only a few U.S. banks would offer. I know for sure most banks in Canada & the UK would not offer that. They may offer to rebate fees on their end, but definitely not fees imposed by the Thai ATMs.
Last edited by Jason77W; Oct 28, 2023 at 3:52 am
Oct 25, 2023, 11:15 pm
#9
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For most U.S. tourists who are not looking to exchange a fortune amount of money, this option seems to be the easiest. I have a U.S. account w/ HSBC so those annoying THB 225 fees are something I'd get rebated for + getting my cash at a decent MC rate. I find this 3P 'fee rebate' thing on ATM withdrawals is something a few U.S. banks would offer. I know for sure most banks in Canada & the UK would not offer that. They may offer to rebate fees on their end, but definitely not fees imposed by the Thai ATMs.
Oct 26, 2023, 3:40 am
#10
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On currencies other than USD the difference between green and orange can be more significant, particularly if you have a large amount to exchange
Oct 26, 2023, 5:04 pm
#11
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My credit union - Navy Federal Credit Union - rebates all ATM fees, including the ones imposed by Thai banks (up to $20 US/month.)
Oct 28, 2023, 3:48 am
#12
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It is such a shame that the big banks do not offer this (e.g. CHASE, Citi, BoA, etc.)
Oct 29, 2023, 10:45 am
#14
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Fidelity also refunds all ATM fees, with no limits, and has no foreign transaction fees. As an added bonus the money sitting in what amounts to my checking and savings accounts receives 2.72% and 4.99% interest respectively.
Whenever I go to Thailand I bring $500-$1000 cash just in case, but never exchange it for baht, choosing to use my Fidelity Debit card instead to get the best rate with no added fees whatsoever.
Whenever I go to Thailand I bring $500-$1000 cash just in case, but never exchange it for baht, choosing to use my Fidelity Debit card instead to get the best rate with no added fees whatsoever.
Oct 31, 2023, 6:14 am
#15
Original Poster
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Fidelity also refunds all ATM fees, with no limits, and has no foreign transaction fees. As an added bonus the money sitting in what amounts to my checking and savings accounts receives 2.72% and 4.99% interest respectively.
Whenever I go to Thailand I bring $500-$1000 cash just in case, but never exchange it for baht, choosing to use my Fidelity Debit card instead to get the best rate with no added fees whatsoever.
Whenever I go to Thailand I bring $500-$1000 cash just in case, but never exchange it for baht, choosing to use my Fidelity Debit card instead to get the best rate with no added fees whatsoever.