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Money Exchange Rates - ATM vs. Bringing Cash


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The Fed did not raise rates today and also issued a dovish policy statement causing the greenback to take a hit.

If you have the Fidelity or Schwab card it might be a good idea to take baht out of the ATM now while you can still get the March 20th rate posted by visa.

I'm not exactly sure when the rate changes. It might be midnight Eastern Daylight Time.

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Here is the Mastercard converter; similar to the Visa converter.

Note, at 13:30 Thai time the Visa site was updated with the March 21st rate but the Mastercard was not.  This could mean that Mastercard's day starts at a slightly different time or it could mean they are just slow updating their website.

https://www.mastercard.us/en-us/consumers/get-support/convert-currency.html

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  • 6 months later...
4 hours ago, Sustra4 said:

I went to ATM and took 5000 bath in Phuket...I have receipt and was charged.but money was not dispensed..what should I do?anyone had this problem?

Sorry to hear that Sustra. That's the last thing you need on your holiday.  

If it was outside a bank, report it to the bank.

If it was outside a 7/11 or somewhere not the bank, report it to both the 7/11 and the bank.

Which bank was it?

Also contact your credit card company back home.

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2 hours ago, Pdoggg said:

Sorry to hear that Sustra. That's the last thing you need on your holiday.  

If it was outside a bank, report it to the bank.

If it was outside a 7/11 or somewhere not the bank, report it to both the 7/11 and the bank.

Which bank was it?

Also contact your credit card company back home.

Kungsri...ATM on the street...I've reported to my bank and kungsri as well ...I just wait by now what my bank says...as from kungsri there was no help at all...going phi phi tomorrow early...hope my money will come back

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  • 3 weeks later...

It seems if changing US 100 dollar bills the best rate is:

Super Rich Thailand Green Rajdamri 1, Bangkok

Also good is:

Vasu Sukumvit at Soi 9/1

TT Exchanges Pattaya (price is not consistent from branch to branch)

Super T Antique store Pattaya

Rail Link at Swampy Super Rich Thailand Green and Value Plus Red (if changing dollars to baht don't change more than a couple of hundred bucks, however changing baht to dollars especially 1 dollar bills is good)

Tough to compare rates as some websites update more frequently than others.

Yesterday SuperT was paying one satang more than TT.  Right now, Vasu is higher than Super Rich Rajdamri 1 but that is probably because of website updates.

Some places specialize in certain currencies. For example, think Super T has lots of Middle East and North African customers.

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  • 4 weeks later...

For Americans the best rates for cash in Thailand are:

Super Rich Thailand (only at their main branch not at Swampy)

https://www.superrichthailand.com/#!/en/exchange

SIA (at main branch).

http://www.sia-moneyexchange.com/en/rate.php

A little less favorable but ore convenient for many is Vasu on Sukhumvit at Soi 9/1.

http://www.vasuexchange.com/

All these 3 places close early in the evening and are also closed on Sunday.

You will get the very best rate if you exchange 100's.  Bring bills that are as new as possible.

In Pattaya and almost as as good as these Bangkok exchanges are Super T in the art/antique store on 2nd Road near Soi 16 and the various TT Exchanges.  The TT Exchanges do not always have the same rate. It might have to do when they update rates. Today the antique store rate was 30.10 and TT 30.08 but some days TT is better.

If you are withdrawing from ATMs I recommend using either the Schwab Visa Card or a Fidelity Visa Card that is linked to a Fidelity Cash Management account.

When returning home I recommend changing almost all your baht to US Singles at either Super Rich Thailand (green) or Value Plus (red) at the Rail Link in the basement of Suvarnabhumi.

I'm not sure which is the best for other currencies.

Note for every 1 satang difference in the exchange rate when changing $500 you will get an additional 5 baht. There can be quite a bit of difference between the above exchange places and major Thai banks.

Changing at Suvarnabhumi (except for the rail link) will give you an extremely poor rate. Don't do it.

Changing your currency for Thai baht in your home country will get you an even worse rate than the extremely poor rate above.

 

 

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2 hours ago, xyzzy said:

TT Exchange in Pattaya usually posts their morning opening rate on Facebook.

Just went to their Facebook page and see that they now have a website.

https://ttexchange.com/

2 hours ago, xyzzy said:

Still a good place to check the rate of the big exchange houses in Bangkok:

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

This site is usually accurate when I've checked.  But I see the closing price on the Super Rich website says 30.12 for the USD while on the other site it's 30.11.  Doesn't sound like a big deal but if you are exchanging $5000 it's 50 baht.   I do have to exchange big money and will try to find Super Rich or SIA whichever has a better posted rate for that day.  I have to go to Bangkok anyway otherwise the approx 250 baht or so difference between Bangkok and Pattaya wouldn't cover the bus fare.

Yea, I do realize that some guys would not want to walk a mile to save 50 baht but I think of it as exploring a new part of Bangkok and I like walking around. 

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14 hours ago, Pdoggg said:

The TT Exchanges do not always have the same rate. It might have to do when they update rates.

Their website says all their branches offer the same rates.  So it might be that some branches are slow to update their signs for some currencies.

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Changing Baht to USD (1 dollar bills):

The best rate will be at Super Rich Thailand's main branch.

The second nest rate will be at either Super Rich Thailand or Value Plus at the Rail Link in Swampy's basement.  Super Rich's is stated hours at the Rail Link are from 6:00 to 23:00 and Value Plus from 6:00 to 23:50 but I wouldn't cut it too close.

You will get very bad rates at Vasu and TT in Pattaya when changing baht to dollars.  At SIA in Bangkok you will get a bad rate for 1's but an acceptable rate if for some reason you need 100's.

There might be certain situations where you wouldn't want to carry singles. Maybe because it's too bulky. Maybe you think a certain businesses  might be annoyed if you pay a big bill with singles.  The middle ground is then to exchange baht to USD 20 dollar bills.

Best rate again is Super Rich Thailand's main branch with their branch at the Rail Link and Value Plus offering an OK rate.

=================================================================================

Bottom Line:  There is usually no better place to do any USD currency transaction than at Super Rich Thailand's main branch (not open evenings or Sundays).

If that is inconvenient changing dollars to baht is just fine at Vasu in Bangkok (not open evenings or Sundays)  or at TT Exchange in Pattaya.   

If you need to change dollars to baht at Swampy do so at Super Rich Thailand or Value Plus at the Rail Link but don't change too much if you will have access to a better place the following day.

Changing baht to dollars is fine at these two places at the Rail Link if getting to the main branch is too inconvenient. 

If you are arriving from the USA bring 100 dollar bills as new as possible. 

 

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I always bring cash and exchange at the end of soi pothole ( next to the gold shop ) , by the time you walk from exchange to exchange I don't really save all that much when cashing $ 300 at a time . I always have baht left over from my last trip so I don't have to use the airport ones and wait until I get to Pattaya .

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Yesterday, both Super T (the gallery/antique store) and the two TT Exchanges across the road had the exact same rate.  One of the TTs is a smallish place on the corner of Soi Diamond.  If you head towards Soi VC from SoiDiamond you will see another one. If you see Bangkok Bank you've walked too far.

A third TT also had the same rate. This one is more or less across the road from Boyztown and has an inside office besides the window facing the street.  I asked if I exchange big money could I get a better rate.  They said, "how big and which currency" I replied, "USD 5000" and they were willing to up it an extra satang.  But I asked at an odd time minutes before the big BOT rate cut announcement so maybe they were hot to give me an artificially low rate.

At any rate checking both Super T and TT Exchange is probably one's best bet in Pattaya.  

Of course there may be some other small shops with a competitive rate such as Stoolie's place.  Many places disguise themselves in Black and Yellow with names similar to TT trying to confuse the drunk or hungover.

 

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  • 2 weeks later...

Well I finally made it to the head office of Super Rich Thailand (Green)!

I felt like the way some guys feel when they finally get to go to a ladyboy bar they've been reading about on a forum.  I almost came in my pants!    This is where you can get the very best rates for most currencies in Thailand.  If taking the BTS, get off at Chitlom and walk away from Nana and towards Siam Square.  Make a right on Rajdamri.  If you reach the canal boat station then you went slightly too far.

superichrajdamri.jpeg

From the airport link take it to the next to last stop which is Ratchaprarop.   Head towards Central World. Cross Petchaburi and  then cross the canal and make the first left.

The Head Office of Super Rich Thailand has a rate for USD that is usually about 3 satang better than Vasu and 5 satang better than TT Exchange in Pattaya.  Probably quite good for other currencies too. It's quite an efficient operation. You walk in. They copy your passport and then you wait for the next available teller.

Super Rich 1965 (Orange) is across the soi and there is third place nearby so easy to check the rates.  Although I doubt if these other places have a policy of better rates than SuperRich Thailand but at a specific hour if the rate has just changed at one of the place, one of the competitors might be better.  Buy/Sell spreads looked pretty tight for most currencies. Nepal was an exception.  Probably in Nepal you should exchange rupees for USD and then in Thailand exchange those USD for baht.

 

bangkok_airport_rail_link_map.jpg

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  • 1 month later...
On 11/17/2019 at 11:41 AM, Pdoggg said:

Well I finally made it to the head office of Super Rich Thailand (Green)!

I felt like the way some guys feel when they finally get to go to a ladyboy bar they've been reading about on a forum.  I almost came in my pants!    This is where you can get the very best rates for most currencies in Thailand.  If taking the BTS, get off at Chitlom and walk away from Nana and towards Siam Square.  Make a right on Rajdamri.  If you reach the canal boat station then you went slightly too far.

superichrajdamri.jpeg

From the airport link take it to the next to last stop which is Ratchaprarop.   Head towards Central World. Cross Petchaburi and  then cross the canal and make the first left.

The Head Office of Super Rich Thailand has a rate for USD that is usually about 3 satang better than Vasu and 5 satang better than TT Exchange in Pattaya.  Probably quite good for other currencies too. It's quite an efficient operation. You walk in. They copy your passport and then you wait for the next available teller.

Super Rich 1965 (Orange) is across the soi and there is third place nearby so easy to check the rates.  Although I doubt if these other places have a policy of better rates than SuperRich Thailand but at a specific hour if the rate has just changed at one of the place, one of the competitors might be better.  Buy/Sell spreads looked pretty tight for most currencies. Nepal was an exception.  Probably in Nepal you should exchange rupees for USD and then in Thailand exchange those USD for baht.

 

bangkok_airport_rail_link_map.jpg

You ha better behave yourself and be careful young man.  You are on MY MANOR!!!!!  So, you FINALLY made it there.  Did you see all the cash lying around the desks???

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  • 5 months later...

Visa is now more transparent with their markup.  

Today June 16th

Quote

15000 Thai Baht = 485.122413 United States Dollar
% Mark-up over European Central Bank Rate = 0.61

1 Thai Baht = 0.0323414942 United States Dollar
1 United States Dollar = 30.920030 Thai Baht

Yesterday June 15th

Quote

15000 Thai Baht = 485.436408 United States Dollar
% Mark-up over European Central Bank Rate = 0.16

1 Thai Baht = 0.0323624272 United States Dollar
1 United States Dollar = 30.900030 Thai Baht

The markup seems to vary daily.  Perhaps because the Visa rate is only calculated once a day or perhaps due to other factors.

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this is only for those who have a thai bank account. i transfer with travel wise before i go. the other day vasu was offering 20.90. super rich 21. but travelwise was 21.37 for the aussie. i do take cash as a back up as well . 

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4 hours ago, markm said:

travel wise

You mean Transfer Wise, right?

Looking at Transfer Wise right now it seems that it's almost as good as SuperRichThailand for the Aussie Dollar.   For the USD SuperRich Thailand has an especially good rate.

I have a question about Transferwise.  Does the Thai bank ever tack on any fees or is the baht amount shown on Transferwise the exact amount that you receive?

 

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5 hours ago, Pdoggg said:

Does the Thai bank ever tack on any fees or is the baht amount shown on Transferwise the exact amount that you receive?

In my case transferring GBP from Transferwise to my Bangkok Bank account the cost shown on their website prior to sending is precisely what I pay. No hidden charges or fees, no additional charges at the Thai bank end. I've done more transfers with Transferwise than I care to remember and it is always clear and transparent. What you see is what you pay and it explains the fees and shows them, included in your cost.

The funds from Transferwise are sent from a source the same as the destination, if i recall correctly.  Also, when sending money to Transferwise from a UK bank account they are sent to a UK bank account, so no international fees or extra charges anywhere at either end. I believe they do similar with AU$ and USD, but not every currency. Probably Euros as well.

I have been nothing but impressed with Transferwise from the moment I set up my account long ago. Their SMS to my Thai phone for secure login is always reliable and prompt, too.

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On 6/20/2020 at 3:44 PM, Pdoggg said:

You mean Transfer Wise, right?

Looking at Transfer Wise right now it seems that it's almost as good as SuperRichThailand for the Aussie Dollar.   For the USD SuperRich Thailand has an especially good rate.

I have a question about Transferwise.  Does the Thai bank ever tack on any fees or is the baht amount shown on Transferwise the exact amount that you receive?

 

lol yes :rofl:

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