If I change currency at a Thai bank branch, do I get the onshore or offshore Baht rate?

Same question - for my (Dollar denominated) Visa credit card, if used in Thailand do they convert using the offshore or onshore rate ?

Thanks

1. Onshore.

2. Offshore

I think

Naka.

In that case it would make sense to avoid using $ credit cards if you can change currency in-situ.

I.e get a much better rate.

I phoned up Visa. I may as well have asked them to explain Quantum theory - but eventually I got an answer. Todays rate is THB 34 =US$1.

That strikes me as being an onshore rate, & hence its probably economical for foreigners to use credit cards.

Not that any of you are interested.

If I change currency at a Thai bank branch, do I get the onshore or offshore Baht rate?

Same question - for my (Dollar denominated) Visa credit card, if used in Thailand do they convert using the offshore or onshore rate ?

Thanks

Probably neither nor. I asked my bank here in Germany and that's what they wrote me. I guess this is true for other countries too:

For credit card transactions they only use the exchange rates fixed by the international card organisations. These are different from the onshore/offshore rates. You may have a look here

http://www.firstdata.de/fremdwaehrungskurse.

On the site klick on "Fremdwaehrungskursanzeige", choose your card, the date and the currency and you'll get the credit card exchange rate. The rate is far better then the normal offshore rate.

Clearly, a in Thailand bank would be giving you an "onshore" rate.

Visa has their own rate, somewhere in between but quite fair in my view. I used Visa debit card recently and was quite pleased with the rate.

I think it is wrong to suggest that Visa charges the offshore rate which is subject to daily speculation and is fully three baht or more lower than onshore.

Many banks charge an additional overseas fee rate on credit card charges, Citibank for one charges 3% for overseas transactions.