Best place to exchange money in CM?

[davidupatterson]

Hey all, 

 

I recently came in on a new tourist visa and made sure to have the equivalent of 20,000 THB on me, just in case they asked to see it. 

 

I typically just do free ATM withdrawls to get cash (Charles Schwab reimburses you), but now have all this USD that needs to be converted into THB. Any thoughts on where I'd get the best rate? I have a Bangkok Bank bank account, if that helps. 

 

Thanks, 

Dave

[ThaiBunny]

Super Rich has branches in Chiang Mai. I find I get the best cash exchange rate from them in Bangkok

[Dante99]

SK money changer on Charoen Prathet Road was the best.  Super Rich across the street so can check both easily.

[davidupatterson]

Thanks, all. So generally speaking, independent changers will give you a better deal than banks?

[bojo]

7 minutes ago, davidupatterson said:

7 minutes ago, davidupatterson said:

 

 

Quote

In my experience, banks have always proved better (especially Bangkok bank). it will take 10 minutes to compare a major bank with exchange kiosks in central CM  and with 20K, the difference is marginal

 

[jollyhangmon]

BKK BK = 31.33

SUPER RICH = 31.63 ... pretty much standard difference!

 

https://www.bangkokbank.com/en/Personal/Other-Services/View-Rates/Foreign-Exchange-Rates

 

http://superrichchiangmai.com/

 

But yes, on your amount not that phat a profit ...

[Dante99]

3 hours ago, davidupatterson said:

Thanks, all. So generally speaking, independent changers will give you a better deal than banks?

Yes for the better money changers, not for all.

[davidupatterson]

Thanks, all! 

[HaleySabai]

* Mr. Pierre on Thapae Rd has competitive rates,often the same as Super Rich BKK.

http://mrpierre-exchange.com/exchangerate/

* SK is usually the best,not always though.

* Super Rich - don't bother

* Nakornping - has two road side kiosks on Loi Kroh rd. , one near the entrance of the road from the moat and another further down near the 4-way.

Very good rates for a pocket money-night exchange.

[EL159]

Just had a bad experience today with Superrich. Phoned in advance, "do you have UK pounds available to sell?"  ( I m visiting UK want to take some £ with me). "Yes, we do." 30 minutes later I drove to there from my home to Ratwithi Road branch. Offer my baht. "No. Not sell pounds" she says.....so I went back to my more usual place and secured my £ immediately.

 

I am told that Superrich play the market to the detriment of their customers. They watch currency movements and either offer or withdraw from transactions at a moments notice.

 

Customer service? They dont give a damn. So tried them once, will stick to my tried and trusted place from now on.

[beau thai]

On 4/3/2019 at 12:31 PM, HaleySabai said:

* Mr. Pierre on Thapae Rd has competitive rates,often the same as Super Rich BKK.

http://mrpierre-exchange.com/exchangerate/

* SK is usually the best,not always though.

* Super Rich - don't bother

* Nakornping - has two road side kiosks on Loi Kroh rd. , one near the entrance of the road from the moat and another further down near the 4-way.

Very good rates for a pocket money-night exchange.

Many thanks for the heads up on Mr Pierre. Smart well run unit with good rates. I like that their rates are up to date on the internet to save awasted trip.

[HaleySabai]

On 4/3/2019 at 3:45 PM, EL159 said:

I am told that Superrich play the market to the detriment of their customers. They watch currency movements and either offer or withdraw from transactions at a moments notice.

 

Customer service? They dont give a damn. So tried them once, will stick to my tried and trusted place from now on.

I suspect that they are on to their "customers" playing the FX market - doing exacting what they do with currency - buy & sell at a profit and using them as the medium of exchange.

Someone in Super Rich may have red flagged your attempt to purchase foreign currency rather than sell it. Which seems absurd unless maybe you ordered 1000's of pounds worth, but even at that so what.

 

On the other hand the Pound has jumped up 1.00 baht since early Jan. perhaps they calculated a loss of several satang on your transaction and decide to abort....smelly ol' piss-flaps,that's the way they became "super rich"!

I never use this company.

[orang37]

I find this web-site a good place to look at all the exchange rates, banks and major exchanges like SuperRich. Of course, don't expect the rate for SuperRich Bangkok to be the same for their Chiang Mai branch, or expect the rate not to have changed by the time you get there.

 

For the benefit of those relatively new to the Kingdom: don't expect anything.

 

Link: Click here

 

~o:37;

[Trujillo]

There is no longer a black market for currency here (or anywhere in SE Asia, that I know of), so just go to any bank. Unless the effort going to some money exchanger is worth 40 US cents on 100 US dollars...I would not drive across town for that pittance. 

Edited April 8, 2019 by Trujillo

[HaleySabai]

No one said anything about a "black Market" exchange here.

There is a huge difference in exchange rates,far from a "pittance", between a commercial bank and a licensed money changer.

If I'm changing up several $1,000 at one time I will certainly go the distance for the best rate.

[BobBKK]

The beer bars on Loi Khro they'll exchange your money very quickly

[CNXexpat]

At Loi Kroh Superrich and the orange shop 100 meters before when you come from Old Town have the best rates. Mostly they have the same but sometimes they have a small difference.

[EL159]

1 hour ago, CNXexpat said:

At Loi Kroh Superrich and the orange shop 100 meters before when you come from Old Town have the best rates. Mostly they have the same but sometimes they have a small difference.

Yes. Good idea! Superich Loi Kroh! You know what happens in Africa? The Lion makes the kill, then the pack of Hyenas surround the Lion and steal the kill! Big packs of Hyenas live in numerous bars in Loikroh!

[JimmyJ]

There are several different "Super Rich" companies in Thailand.

 

Super Rich Chiang Mai (I think they call the one opposite the UN Irish Pub) does not have very good rates.

 

The small sidewalk booth on Loi Kroh seemed to have the best rates in CM of the exchanges I noticed.

 

Best is as the OP mentioned using the ATMs with a card from a bank which refunds foreign ATM fees.

Edited April 10, 2019 by JimmyJ