FX @ BKK - a few tips.

[shadowofacloud]

 Hi All,

 

 I don't usually exchange money at airports, as i either use fintech products or local bank accounts, but yesterday had some time on my hands and a thick wad of GBP to get rid of, so did some research.

 

 The FX shops next to the baggage carousels and past customs on the arrival floor are a total scam (IB rate minus ~5%). However, I've noticed on google maps that Superrich has a shop on the lower floor (on the way to the Airport Link station) and went to explore. Here the situation is much better, the rates are IB minus ~1% (xe.com quoted 40.80 for 1 GBP, while Superrich paid 40.30 for 50 GBP notes - 1.2% difference). All the other shops in the area have the same rate.

 

 Some of my notes were a little bit torn (really, minor stuff) or marked, so the manned shops did not want to take them. However, there are a few automatic FX machines (e.g. next to the Krungsri counter), which took them without complaint. Rate same as above, so a good solution if your bills are not crispy fresh. Drawback - they only take one note at a time, so may be time consuming if you bring in suitcases of cash. ????

 

 HTH.

Edited February 1, 2020 by shadowofacloud

[SteveK]

Another word of advice - if you really are exchanging a large sum of money, I would strongly recommend you go to Vasu exchange near Nana BTS. They are quick, professional and have good rates, but the best thing is that if you are changing a large sum they will take you into a private room so nobody can see your wad of cash and where you put it.

[KhunBENQ]

2 hours ago, shadowofacloud said:

However, there are a few automatic FX machines (e.g. next to the Krungsri counter), which took them without complaint. Rate same as above, so a good solution if your bills are not crispy fresh.

That's the interesting part.

I never checked and would have expected that they give worse rates at the machines.

[shadowofacloud]

37 minutes ago, KhunBENQ said:

That's the interesting part.

I never checked and would have expected that they give worse rates at the machines.

It seems that all the FX counters on the lower floor use the same rates in order to eliminate any competition between them. And the machines belong to Krungsri (IIRC), which has a manned counter just next to them, so it wouldn't make sense to use different rates - people would just go to the counter.

Edited February 1, 2020 by shadowofacloud

[KhunBENQ]

On 2/1/2020 at 3:21 PM, shadowofacloud said:

It seems that all the FX counters on the lower floor use the same rates in order to eliminate any competition between them.

It's a while ago and at the time differences were minor like 5 Satang for big notes.

Not worth joining the longest queue.