CURRENCY CONVERSION

[OZEMADE]

Can any one update me on what the current street conversion rate is for the Aussie $ to the Thai Baht. I will be hitting Pattaya on Monday.

I know there are a stack of currency conversion boxes in Pattaya and Jomtien, so any info would be of a great help.

Thanks OZEMADE

[KhunBENQ]

Best rate for small amounts of cash today is 24.5 in Bangkok.

So expect about 24.45 or 24.40 in Pattaya.

For a benchmark use this:

https://daytodaydata.net/

(select AUD / THB / Notes)

 

But I am sure a Pattaya member will have a look at today's displays.

Edited July 7, 2018 by KhunBENQ

[KhunBENQ]

T.T. Currency Exchange in Pattaya (many locations) has some of the best rates usually.

Rates from yesterday (July 6).

Edited July 7, 2018 by KhunBENQ

[OZEMADE]

32 minutes ago, KhunBENQ said:

Best rate for small amounts of cash today is 24.5 in Bangkok.

So expect about 24.45 or 24.40 in Pattaya.

For a benchmark use this:

https://daytodaydata.net/

(select AUD / THB / Notes)

 

But I am sure a Pattaya member will have a look at today's displays.

Thanks Mate

[OZEMADE]

21 minutes ago, KhunBENQ said:

T.T. Currency Exchange in Pattaya (many locations) has some of the best rates usually.

Rates from yesterday (July 6).

Good but could be better. Hoping for better rate when I arrive.

[OZEMADE]

Do you get a better rate depending on the amount you want to convert, say AU$10,000.00

[KhunBENQ]

Don't expect any wonder till Monday

One year chart (money market rates):

Edited July 7, 2018 by KhunBENQ

[KhunBENQ]

17 minutes ago, OZEMADE said:

Do you get a better rate depending on the amount you want to convert, say AU$10,000.00

Yes, you can try to negotiate.

For that you would have to go to the main branches of the money changers where they have enclosed offices/separate rooms (not on the street booths).

Maybe another member can tell where you have best chances to squeeze a few extra Baht.
But you would hardly get more than 24.6 (today) which is almost the money market rate (where the millions are moved).

Edited July 7, 2018 by KhunBENQ

[giddyup]

When I transfer online from my Aussie bank (ANZ) in A$ what rate should I expect from the SCB? Because whenever I have transferred money in the past, always sums of $10,000, I never seem to get the rate shown on XE Currency Conversion, but always around a baht less per dollar. If I lose a baht on the dollar that's 10,000 baht, or $400, not to be sneezed at. Todays SCB rate for example is shown as 23.7 for notes.

.

Edited July 7, 2018 by giddyup

[OZEMADE]

23 minutes ago, giddyup said:

When I transfer online from my Aussie bank (ANZ) in A$ what rate should I expect from the SCB? Because whenever I have transferred money in the past, always sums of $10,000, I never seem to get the rate shown on XE Currency Conversion, but always around a baht less per dollar. If I lose a baht on the dollar that's 10,000 baht, or $400, not to be sneezed at. Todays SCB rate for example is shown as 23.7 for notes.

.

I am taking cash this time and will get anything from 1 to 2 Baht better rate on large amounts. I use to T/T via Westpac and still do to Bangkok Bank stipulating not to convert in Australia and to send to Bangkok Bank Aussie Dollars. usually get the 24 hour rate. It cost me $50 to Telegraphic Transfer (T/T) to Thailand.

 

[giddyup]

1 minute ago, OZEMADE said:

I am taking cash this time and will get anything from 1 to 2 Baht better rate on large amounts. I use to T/T via Westpac and still do to Bangkok Bank stipulating not to convert in Australia and to send to Bangkok Bank Aussie Dollars. usually get the 24 hour rate. It cost me $50 to Telegraphic Transfer (T/T) to Thailand.

 

I only pay $18 for an online transfer, A$10,000 maximum.

[OZEMADE]

3 minutes ago, giddyup said:

I only pay $18 for an online transfer, A$10,000 maximum.

Mine would be the same, however my bank is a Credit Union and they have to draw a cheque and take it to Westpac to send on my behalf to the Bangkok Bank. This is why it is dearer. If I just transfer normally through them, they use different transfer companies like Travelex and the say Bt24 rate would be down to Bt 21 by the time I got it and then suffer the other loss of a possible Bt1 loss on arrival at the Bangkok Bank.

[KhunBENQ]

1 hour ago, giddyup said:

Todays SCB rate for example is shown as 23.7 for notes.

I would expect that the TT rate is what Thai banks use to exchange a transfer.

Latest SCB TT rate from Friday is 24.08!

 

Electronic transfer through http://transferwise.com would give:

244857 THB for 10,000 AUD (exact amount can change any minute)

No other/3rd party fees.

More than 4000 Baht difference compared to SCB rate without taking into account home bank fees, intermediate banks and 500 Baht fee for SCB.

Edited July 7, 2018 by KhunBENQ

[KhunBENQ]

1 hour ago, giddyup said:

but always around a baht less per dollar

0.5 Baht per AUD from bad TT rate is plausible.

But this would leave 200 AUD lost due to fees.

Sounds a bit excessive.

Do you make sure that the amount is transfered in AUD (not THB)?

Rates for THB in the home country are usually even worse.

Edited July 7, 2018 by KhunBENQ

[giddyup]

1 minute ago, KhunBENQ said:

0.5 Baht per AUD from bad TT rate is plausible.

But this would leave 200 AUD lost due to fees.

Sounds a bit excessive.

Do you make sure that the amount is transfered in AUD (not THB)?

Rates to change to THB in the home country are usually even worse.

Yes, always A$, only made the mistake of transferring in Thai Baht once, cost me dearly.

[KneeDeep]

3 hours ago, OZEMADE said:

Mine would be the same, however my bank is a Credit Union and they have to draw a cheque and take it to Westpac to send on my behalf to the Bangkok Bank. This is why it is dearer. If I just transfer normally through them, they use different transfer companies like Travelex and the say Bt24 rate would be down to Bt 21 by the time I got it and then suffer the other loss of a possible Bt1 loss on arrival at the Bangkok Bank.

 

 

Have you considered KB's suggestion of using Transferwise?

[OZEMADE]

1 hour ago, KneeDeep said:

 

 

Have you considered KB's suggestion of using Transferwise?

I will look at it in the future, however this time I will be bringing cash to convert and will be in Thailand for 3 months so will see over time who gives the best street exchange rate and where. Once I find them, I'll let you all know.

But if anyone finds one out of the blue, let me know. There are many eyes on TVForum around all the time. Thanks all.

Ozemade

[KneeDeep]

Change some at the basement (B) floor at the airport on arrival. That about the best you will get. Look at Twelve Victory Exchange, Super Rich Thailand and Super Rich 1965 whilst there.

 

Twelve Victory also have branches in Pattaya.

In addition, if you are changing a large amount of money, give the haed offices a call beforehand and ask them what they can offer. You may find they offer above what is posted.

 

https://www.superrichthailand.com/#!/en/exchange currently quote 24.5 at head office and 24.4 at the airport. I would expect Twelve Victory could match that airport rate in Pattaya. But call both them and T.T to see what they can offer at the time. Don't just turn up and try to negotiate. Call prior.

 

 

[digbeth]

Superrich (the green one) has same rate for all branches, so the one at the bottom of the Airport is Ok

but if you're spending time in Bangkok and are already at the headquater opposite Central World, there's also the Blue 'Grand' Superrich which would have just about the same rate as Blue Superrich head office rate. (They're relatives and headquarter are next door to each other)

 

It's only worth it to travel into town to exchange with the head office if you're exchanging large sum and can negotiate a good discount, otherwise the difference might only be .10 baht to the dollar, might as well go with the Airport branch or come to Pattaya and exchange with Yenjit or TT in Pattaya for the convenience.

[OZEMADE]

1 hour ago, KneeDeep said:

Change some at the basement (B) floor at the airport on arrival. That about the best you will get. Look at Twelve Victory Exchange, Super Rich Thailand and Super Rich 1965 whilst there.

 

Twelve Victory also have branches in Pattaya.

In addition, if you are changing a large amount of money, give the haed offices a call beforehand and ask them what they can offer. You may find they offer above what is posted.

 

https://www.superrichthailand.com/#!/en/exchange currently quote 24.5 at head office and 24.4 at the airport. I would expect Twelve Victory could match that airport rate in Pattaya. But call both them and T.T to see what they can offer at the time. Don't just turn up and try to negotiate. Call prior.

 

 

Thanks I’ll check it out 

[KneeDeep]

3 hours ago, digbeth said:

Superrich (the green one) has same rate for all branches, so the one at the bottom of the Airport is Ok

but if you're spending time in Bangkok and are already at the headquater opposite Central World, there's also the Blue 'Grand' Superrich which would have just about the same rate as Blue Superrich head office rate. (They're relatives and headquarter are next door to each other)

 

It's only worth it to travel into town to exchange with the head office if you're exchanging large sum and can negotiate a good discount, otherwise the difference might only be .10 baht to the dollar, might as well go with the Airport branch or come to Pattaya and exchange with Yenjit or TT in Pattaya for the convenience.

 

No...they don't. As illustrated by their link that I've posted.

No one has suggested travelling into Bangkok to exchange. 

The difference between changing AU$10,000 at a Bangkok head office and the airport would be 1000 baht. I'm not sure if calling head office and telling them how much you have to exchange at the airport will make a difference if the booth is just a franchise, but it is worth trying. It might glean another 500 baht or even 1000. 

The calling is more for when he hits Pattaya if he doesn't want to exchange the whole lot at the airport.. Then he can negotiate a rate without leaving his seat. Then pop to their location once the rate is agreed. 

If he changes all at the airport, then dependent on his Thailand bank, he may need to go to the Transportation Centre to deposit it.

So a little research to be undertaken beforehand.

[OZEMADE]

6 hours ago, KneeDeep said:

 

No...they don't. As illustrated by their link that I've posted.

No one has suggested travelling into Bangkok to exchange. 

The difference between changing AU$10,000 at a Bangkok head office and the airport would be 1000 baht. I'm not sure if calling head office and telling them how much you have to exchange at the airport will make a difference if the booth is just a franchise, but it is worth trying. It might glean another 500 baht or even 1000. 

The calling is more for when he hits Pattaya if he doesn't want to exchange the whole lot at the airport.. Then he can negotiate a rate without leaving his seat. Then pop to their location once the rate is agreed. 

If he changes all at the airport, then dependent on his Thailand bank, he may need to go to the Transportation Centre to deposit it.

So a little research to be undertaken beforehand.

OK thanks guys, I'll try them all on arrival thanks for the input.

[Henryford]

If you have a thai bank account Transferwise is probably the best, current rates after fees 24.4856. Safe as well as you don't have to carry cash.

[OZEMADE]

52 minutes ago, Henryford said:

If you have a thai bank account Transferwise is probably the best, current rates after fees 24.4856. Safe as well as you don't have to carry cash.

Yes it is safer than carrying a lot of cash, something else to keep in mind.

[topt]

On 7/7/2018 at 12:33 PM, giddyup said:

When I transfer online from my Aussie bank (ANZ) in A$ what rate should I expect from the SCB?

As @KhunBENQ said it will be the TT rate shown here - https://www.scb.co.th/en/personal-banking/foreign-exchange-rates.html

However note this rate can change multiple times per day so it depends when exactly they do the transfer.

On 7/7/2018 at 12:33 PM, giddyup said:

I never seem to get the rate shown on XE Currency Conversion,

This is normally a mid market rate and none of the banks will give you close to that as they want their pound of flesh  If you are using SCB I suggest you check their exchange rate page above as XE will be misleading other than as a very rough guide - Bangkok Bank and some of the others have similar. 

[giddyup]

33 minutes ago, topt said:

As @KhunBENQ said it will be the TT rate shown here - https://www.scb.co.th/en/personal-banking/foreign-exchange-rates.html

However note this rate can change multiple times per day so it depends when exactly they do the transfer.

This is normally a mid market rate and none of the banks will give you close to that as they want their pound of flesh  If you are using SCB I suggest you check their exchange rate page above as XE will be misleading other than as a very rough guide - Bangkok Bank and some of the others have similar. 

Thanks for that info.

[curlywatt]

i've said this many times on this forum, keep your money in your home bank account, when in thailand go to booth with best exchange rate and buy as much thai baht as you want using your visa debit card, you get that rate and no other charges, basically its the same as bringing cash

Edited July 10, 2018 by curlywatt

[OZEMADE]

3 hours ago, curlywatt said:

i've said this many times on this forum, keep your money in your home bank account, when in thailand go to booth with best exchange rate and buy as much thai baht as you want using your visa debit card, you get that rate and no other charges, basically its the same as bringing cash

Thanks for the Tip I'll ask when I go to the money exchange booth. I heard there is a good on on second road opposite Big C.

 

[OZEMADE]

On 7/10/2018 at 11:25 AM, OZEMADE said:

Thanks for the Tip I'll ask when I go to the money exchange booth. I heard there is a good on on second road opposite Big C.

 

This is the Sabai Exchange opposite Big "C" on second road before you get the the fountain roundabout on the left side of the road. Exchange rate changes regularly daily but seems to be 50 to 65 satang better than the banks and always higher rate than the other exchange booths. I checked all on Beach Rd and Second Rd. I cashed Au in on Mon and today got Tb24.53 to Au$1 Mon and Tb24.50 today.

Edited July 13, 2018 by OZEMADE

[KneeDeep]

On 7/10/2018 at 1:33 AM, curlywatt said:

i've said this many times on this forum, keep your money in your home bank account, when in thailand go to booth with best exchange rate and buy as much thai baht as you want using your visa debit card, you get that rate and no other charges, basically its the same as bringing cash

Erm...will be interested in seeing the feedback from this. I honestly think it is nonsense.