Bank Ripping off Tourists

[Cricky]

18 hours ago, KhaoYai said:

Read my post properly

 

18 hours ago, KhaoYai said:

You need to read my post properly to appreciate my point.

 

17 hours ago, KhaoYai said:

I should have known better than to post on this forum!

 

11 hours ago, KhaoYai said:

Another one missing my point.

 

Happens all the time, not reading posts in full then commenting, 

 

Mate, these people are messing with your mind.

[new2here]

18 hours ago, meand said:

It is a service. They pay more rent and have higher overhead for high traffic areas. 

THIS is very true... Airports DO base rent and other issues, in part, on foot traffic count and other metrics as collected by the airport operator.

 

So, while the optics may look bad if you will, I think a credible case can be made for variable pricing depending on where the transaction takes place — even if the difference between location A and B may be measured in the hundred-of-meters and nor longer/larger distances.

 

 

[Enoon]

18 hours ago, samsensam said:

sorry OP but it's general knowledge, to any experienced traveler, that airports are one of the worst places to exchange money, it has nothing to do with thailand it is the same in many/most countries. banks also generally offer worse rates than ForEx booths. o worked out at a very early age only to enter a country with the money i needed for the first few hours or first day. so, yes it's a rip off but one that is easily avoided. as the thais love to say; up to you.

 

"Sorry" but "general knowledge" is irrelevant in this case.

 

In this specific case the exchange booths on the lowest level of Suvarbhumi, adjacent to the Airport Link ticket office and platforms, offer an excellent rate.

 

Kasikorn have a booth there which matches or betters the other booth rates there, including, as the OP points out, the Superrich booth, which, as has often previously been pointed out on TVF, offers one of the best rates in the City of Bangkok.

 

Look at the Superrich website (no I'm not going to link it, do it yourself) and you will see what I mean.

 

The OP has a problem that upstairs Kasikorn is offering a lousy rate compared to the one it is offering at its booth downstairs.

 

Many seem to have read this thread and totally failed to grasp what the OP was talking about, because they were utterly fixated upon their own prejudiced "general knowledge" about airports, without being familiar with the specific situation as it actually is, downstairs, adjacent to the rail concourse, at Suvi.

 

Go and have a look next time you're there.

 

 

 

 

Edited November 14, 2019 by Enoon

[KhaoYai]

1 hour ago, marin said:

You make a post that any savvy traveler knows about  and get called out on it.

Rubbish, you cannot seriously believe that 'savvy travellers' know that the exact same bank, 200m away, gives them a much better rate.

[KhaoYai]

13 hours ago, Lacessit said:

You are not a tourist yourself, and neither am I. Why should either of us care?

Much of the news and many of the threads on TV are not actually relating to ex pats etc. So you'd better tell the site's owners to ban anything that we shouldn't 'care about'. Glad to see that at least a few people get my point.

Edited November 14, 2019 by KhaoYai

[Bangkok Barry]

19 hours ago, KhaoYai said:

Read my post properly. Yes, I travel a lot and I did say that the airport booths are known to give poor rates. Its the fact that the same bank, is giving different rates just a few floors down that I object to.

 

For some reason TVF doesn't give the option to quote the originating post, so I'll reply to you here. I have noticed the same oddity about the basement Kasikorn rate. I collected by sister there and she changed some money, and Kasikorn actually had the best rate that day. Another time, it was much higher than SuperRich etc. Strange.

[KhaoYai]

12 hours ago, shy coconut said:

Yes I did read the OP and it seems that you spent a ridiculous amount of time comparing

exchange rate booth prices up and down 4 levels of an international airport.

Eh?  I walked from the plane, past the booths on the concourse - checked the rate, through immigration, collected my luggage, walked past yet more bank booths in the arrivals hall - checked their rates. I then proceeded to the Airport Lonk station for my train to Phaya Thai which conveniently takes me to Super Rich. It was then that I noticed Kasikorn had opened next door. I didn't go up any levels, only down, which is my normal way route. Not out of my way at all.

 

So, other than glancing at the rate boards as I passed, which may have slowed me by a millisecond, I didn't spend any time at all, let alone a 'ridculous amount'.  I would suggest its your comments that err on the ridiculous side. You might wish to consider that next time you seek to ridicule other member's posts.

 

Thank you and good evening.

[KhaoYai]

10 minutes ago, Bangkok Barry said:

For some reason TVF doesn't give the option to quote the originating post,

Yes, I've noticed that too but in fact you can. Simply highlight the text you wish to quote, release your mouse and a box will open stating 'quote selection' - click on the box. In fact that works on all posts and is quite useful as you can simply quote the bit you wish to comment on, rather than quoting whole posts as many seem to do.

Edited November 14, 2019 by KhaoYai

[KhaoYai]

2 hours ago, JoeW said:

Different management. Boots in the airport fall under AoT regulations and thus charge a different rate. Boots in the basement fall under BMT regulations and thus can charge out of airport rates.

If that's really the case, why don't Kasikorn replace all the booths on the upper floors and replace them with advertising stating that much better rates are available in the basement, just a few minutes away?  Sorry, I don't take the higher operating costs argument.  If you go down to the basement areas you will note that the travellers down there are mainly Thai's going to get trains and buses whilst us 'rich farangs' use the taxis above. As you will also probably know, there is also a food court in the basement with much cheaper prices. Read into that what you will.

[Bangkok Barry]

11 minutes ago, KhaoYai said:

Yes, I've noticed that too but in fact you can. Simply highlight the text you wish to quote, release your mouse and a box will open stating 'quote selection' - click on the box. In fact that works on all posts and is quite useful as you can simply quote the bit you wish to comment on, rather than quoting whole posts as many seem to do.

 

Yes, I know that. But it didn't occur to me to use that for the original post. Brain must be a bit slow today ????

[tomazbodner]

The challenge was (and possibly still is) that downtown you can only change foreign currency into THB but to change THB to foreign currency you had to go to the airport as no other branches offered it. Superrich and some money changers were exception and even there not every branch.

 

But airport exchange booths being a rip-off? Yep, in most of the World.

[Jaxxper]

20 hours ago, KhaoYai said:

Read my post properly. Yes, I travel a lot and I did say that the airport booths are known to give poor rates. Its the fact that the same bank, is giving different rates just a few floors down that I object to.

Well go to the booth with the better rate then.....Simples.

[Chivas]

18 hours ago, surangw said:

I use my atm card.    no hassel 

Lol with all the relevant charges plus the 220 baht .....and NO before someone says it CW does not refund the charges if you use the card every day

[KhaoYai]

6 minutes ago, Jaxxper said:

Well go to the booth with the better rate then.....Simples.

Jeez, when will people get it. I DO!!

Tourists on the other hand will most likely have no idea. They may well know that airport banks give them poor rates but I doubt they are aware that one bank offers different rates a couple of hundred meters apart.

[KhaoYai]

2 hours ago, MadMuhammad said:

Are you sick of beating your head against a brink wall yet. Reading comprehension is not a strong suit on TV lol

Yes ????.  Its funny, quite a few people I've met that are members here say "Oh I used to post on there but I got sick of the idiots".  I'm back to being a lurker. Genuine criticism and corrections I have no problem with but point scoring and smartasses that don't even read a post properly - I just can't do with. Cheers.

Edited November 14, 2019 by KhaoYai

[1FinickyOne]

21 hours ago, KhaoYai said:

Read my post properly. Yes, I travel a lot and I did say that the airport booths are known to give poor rates. Its the fact that the same bank, is giving different rates just a few floors down that I object to.

why object at all... just go to the place with the better rate... do you think upstairs they might pay more rent? 

 

so many examples of this type of thing - - buy popcorn and a soda at the movies... or a hot dog at a ball park... it has less to do with the commodity than the where... but you know this - right?

[emptypockets]

4 hours ago, jaiyen said:

Bear in mind that most  tourists arrive with no Thai Baht and have to change money just to get a taxi and if after 5 or night time where else can they get money ?

ATM.

[yimlitnoy]

23 hours ago, EricTh said:

The rates at airports whether upstairs or basement are usually poor anywhere in the world.

 

It's best to go to downtown where the rates are much better.

 

Are you trying to justify dishonesty?  Why would you do that?

[KhunBENQ]

Such "news" makes up for almost 50 posts by now ??

[impulse]

17 hours ago, KhaoYai said:

Another one missing my point. I am fully aware that airports are not the best place to exchange money - as I think are most tourists. However, the rates are usually better than they would get in their home countries so many wait until they get to Thailand to change some cash - and they may need a reasonable amount for immediate expenses. What they will not be aware of is that at least one of the banks offering a poor rate in the airport is offering 2 baht more a couple of hundred meters away.

 

True, but a couple of hundred meters can make a huge difference in their rent and other operating expenses.

 

Hardly a rip-off.

 

[Elkski]

I agree with the OP.  Why so many negative attacks.  I dont think many travelers to Thailand know about the  exchange rate tipoff.  Even the best exchange places take 3% or so off FX it seems.  OP points out that now one bank has rates 8% different  just floors apart.  Just think of how much money is made because of the need  to exchange all these different currencies in the world.  I'm not a crypto fan or anything but one currency in the world would decimate many lazy worthless people's livelihoods. I am against anyone making money for doing no benefit to society.

 Someone is so ignorant to even say I just use the ATM machine. They don't even know how bad the exchange rate is using an ATM.   Just because all airports do this doesn't mean it's right. I have a choice to not eat popcorn at a movie theater but when you come to another country you need currency just to pay the taxi if you wish to take the taxi. If it's your first trip you may not have any type of pot stashed away like I always carry a thousand Baht or so just to get on the train or a taxi to BKK. 

[impulse]

14 minutes ago, Elkski said:

I agree with the OP.  Why so many negative attacks.  I dont think many travelers to Thailand know about the  exchange rate tipoff.  Even the best exchange places take 3% or so off FX it seems.  OP points out that now one bank has rates 8% different  just floors apart.  Just think of how much money is made because of the need  to exchange all these different currencies in the world.  I'm not a crypto fan or anything but one currency in the world would decimate many lazy worthless people's livelihoods. I am against anyone making money for doing no benefit to society.

 Someone is so ignorant to even say I just use the ATM machine. They don't even know how bad the exchange rate is using an ATM.   Just because all airports do this doesn't mean it's right. I have a choice to not eat popcorn at a movie theater but when you come to another country you need currency just to pay the taxi if you wish to take the taxi. If it's your first trip you may not have any type of pot stashed away like I always carry a thousand Baht or so just to get on the train or a taxi to BKK. 

 

If you really want to get ripped off, do the exchange in your home country before you even get to Thailand.  

 

Bottom line, sure.  You need money.  Cash money in the local currency.  And those nice ladies inside the cage need to get paid, and the bank needs to buy computers and pay rent and all the other expenses that go along with having those nice ladies in that cage to do that service for us. 

 

Down in the basement, those expenses are lower.  That's the nature of retail space.  High traffic and good exposure means higher rent, and possibly a higher percentage of the take (depending on the airport).  Just like your Burger King costs more at the airport, and probably even more on the international side of the security screening.

 

There's nothing necessarily nefarious about it.

 

Edited November 14, 2019 by impulse

[thecyclist]

On 11/13/2019 at 8:21 PM, bkk6060 said:

Have you traveled much ?

Every airport exchange booth practically in the world gives very poor rates.

Most with travel experience and common sense have figured this out.

Very poor rates everywhere :That's simply not true. Two examples : Manila and HCMC, the booths at the International Airport give fairly decent rates, certainly for the USD and a couple of other hard currencies. You can do a little better by going downtown, but not much better. 

[thecyclist]

On 11/13/2019 at 8:38 PM, KhaoYai said:

Read my post properly. Yes, I travel a lot and I did say that the airport booths are known to give poor rates. Its the fact that the same bank, is giving different rates just a few floors down that I object to.

The Kasikorn booth downstairs probably offered better rates because they are not 'in the airport proper', but occupy the outer corner of the airport link train station. I say offered, because last time I checked, about half a year ago, their rates were, at least for USD, as bad as the rest of them. 

Another thing is that the rates at the airport haven't always been bad :Go back about 20 years or so and  the rates at Don Mueang Airport were comparable to the banks downtown. 

[MadMuhammad]

8 hours ago, Chivas said:

Lol with all the relevant charges plus the 220 baht .....and NO before someone says it CW does not refund the charges if you use the card every day

My account does. All ATM & foreign transactions fees refunded while getting a better than A bricks & mortar exchange booth forex rate 

[Montnoveau]

On 11/13/2019 at 4:02 PM, surangw said:

I use my atm card.    no hassel 

Yes cash is so 1900's.

[saengd]

If the cost of retail space on the first floor is X, the value of that same space in bowels of the basement will be X-70% or similar, Kasikorn overheads are therefore very different between the two locations.

 

And having made the decision to compete in the basement against low overhead cost operators, what are they to do, offer a non-competitive rate and ensure they get absolutely zero footfall business, I don't think so!

 

I don't know how it is in your country but in mine the selling price of a product is determined in part by the cost of overheads needed to sell the product. A meat pie in the City of London costs five Pounds, in Lancaster city centre it costs three Pounds, the value of rent being a major reason why.

 

 

Edited November 14, 2019 by saengd

[johnmcc6]

17 hours ago, MadMuhammad said:

Last I read there were approximately 75K retirees in Thailand so the actual jumpers would be interesting to see.
Do you think the banks on your home country don’t do exactly what you just described, what’s the difference?

the banks back home don't by law mandate you must have a cash balance  of 30 thousand in your savings account. see the difference?

[justin case]

TIT ... all boots give same exact crappy rates, no competition, just like THAI companies love

 

a bit like asking a price for fixing your phone ...everybody has exactly the same price

[MadMuhammad]

2 hours ago, johnmcc6 said:

the banks back home don't by law mandate you must have a cash balance  of 30 thousand in your savings account. see the difference?

Yep understood. I still have to keep it somewhere though, mandated or not.