Money exchange

[kneebendingfools]

I want to convert usd 10k into baht, where is the best place for max net outcome?

[nigelforbes]

Any of the non-bank based currency exchange shops, they all use the same FOREX system to determine rates, only their commission will vary but by only small amounts in the same geographic area.

[DFPhuket]

This site is updated daily and gives the currency conversion rates for a number of Thai banks and money exchanges. You can change the currency and indicate whether you are converting notes or completing a bank transfer using the dropdown menus at the top. It's a very handy tool. 

[KhunBENQ]

26 minutes ago, kneebendingfools said:

I want to convert usd 10k into baht, where is the best place for max net outcome

? You are posting in the Isaan forum.

A little hint about your location would help.

Otherwise you will be directed to Superrich in Bangkok 

[KhunBENQ]

6 minutes ago, DFPhuket said:

This site is updated daily 

Thanks for that. It was down for a long time.

I had given up.

[Lacessit]

Sakol or Superrich.

[puck2]

25 minutes ago, KhunBENQ said:

? You are posting in the Isaan forum.

.... may I add, SuperRich is in Chiang Mai, too. On soi  "Loi Khro", not far away of the moat.  Received a very good €-cash rate.

[KhunBENQ]

Just now, puck2 said:

.... may I add, SuperRich is in Chiang Mai, too. On soi  "Loi Khro", not far away of the moat.  Received a very good €-cash rate.

Even in Khon Kaen there are one/two exchanges with decent rates.

But as written: if the topic starter doesn't reveal his area it's all pointless.

[kneebendingfools]

Chaiyaphum

[kneebendingfools]

4 hours ago, KhunBENQ said:

? You are posting in the Isaan forum.

A little hint about your location would help.

Otherwise you will be directed to Superrich in Bangkok 

Chaiyaphum

[kneebendingfools]

3 hours ago, Lacessit said:

Sakol or Superrich.

Other than the rate they offer, are they charging for anything more, or is their charge the same no matter what the amount of dollars I want to change?

[nigelforbes]

Just now, kneebendingfools said:

Other than the rate they offer, are they charging for anything more, or is their charge the same no matter what the amount of dollars I want to change?

It's spot rate, plus markup, regardless of volume.

[Elkski]

Wise transfer rate is 35.8 now.  If you have an account. 

I never understood why the rate is different for 100 notes vs 50's?  Even 20's    The scamming starts here. 

[nigelforbes]

2 minutes ago, Elkski said:

Wise transfer rate is 35.8 now.  If you have an account. 

I never understood why the rate is different for 100 notes vs 50's?  Even 20's    The scamming starts here. 

"Likewise with the money exchangers. They have some non-("real")-money commodity (US$100 and US$20 bills), and even though five US$20 bills are the equivalent amount of "rice" as one US$100 bill, there's different economics in obtaining and storing a US$100 versus the US$20. There's also differences in the desirability of a US$100 versus five US$20s. As such, just like the grocers changing the price of the different packages of rice (or bulk rice), the money exchangers may change the price of US$100 versus US$20 (or electronic transfers)."

 

https://money.stackexchange.com/questions/108331/why-do-money-exchangers-give-different-rates-to-different-bills#:~:text=So to directly answer your,interconverted by someone in India.

[Lacessit]

37 minutes ago, kneebendingfools said:

Other than the rate they offer, are they charging for anything more, or is their charge the same no matter what the amount of dollars I want to change?

IIRC they charge a higher spread for small amounts, more than 100 in Euros or dollars it will be the standard rate.

Away from the banks, the rates one gets are quite competitive. I sometimes wonder why the banks bother to have their rates on display, only a complete newbie would use them.

[araiwaja]

5 hours ago, DFPhuket said:

This site is updated daily and gives the currency conversion rates for a number of Thai banks and money exchanges

It used to be okay even if slow, but then went offline for a while and afterwards most banks stopped updating. I switched to this site which appears to update in real time and has all the banks, shops, card rates, market rate, etc. Definitely an upgrade if you follow the exchange rate. 

[KhunBENQ]

2 hours ago, kneebendingfools said:

Chaiyaphum

Can't help about Chaiyaphum specialized money exchangers if any.

Commercial banks offer rates that are about 0.3 worse than best money exchanges.

Would end with 3000 Baht less for 10000 Dollar.

And the banks can be quite picky about clean crisp notes, denying any notes with dog-ears, scribble etc. Go to main branches only. Passport required.

 

Whether it's worth a trip to Khon Kaen where you might get 0.2 better than at a bank in C.P.? (there are money exchangers).

 

Edited November 29, 2022 by KhunBENQ

[Dickp]

Most of the answers were about being in country and exchanging bills such as USA Dollars.. What sending money to your bank account Mind is Kasikornbank from US Credit Union using swift and I believe it goes though Wells Fargo bank to Kasikornbank?

[JamieSutton]

Yes, most non-bank foreign exchange shops use the same Foreign Exchange (FOREX) system to determine exchange rates for different currencies. These exchange rates are determined by a number of factors, including global economic conditions, political events, and market demand for different currencies. Although exchange rates can vary slightly between different exchange shops in the same geographic area, these differences are usually small and reflect differences in commissions charged by stores. different exchanges. If you want to be faster, you can access the Mod application, which has a lot of software that supports free currency exchange, faster, very good security.

[JamieSutton]

On 11/29/2022 at 5:57 PM, araiwaja said:

It used to be okay even if slow, but then went offline for a while and afterwards most banks stopped updating. I switched to this site which appears to update in real time and has all the banks, shops, card rates, market rate, etc. Definitely an upgrade if you follow the exchange rate. 

i tried the update very fast

[Martyjustice]

Along the lines of clean crisp notes , they are getting hard to find in the US. Used to order $10k at Wells Fargo and stacks would be there in a couple of days, new, unused, consecutive numbers. In February asked for the same. Neither Wells Fargo or BOA had. Haven’t had for a year to order. 
One banker told me this happened before right before a bill redesign.