Currency Exchange At Airport

[laphroaig]

HI

Sorry if this has been done to death but I a struggling to find the answer to this simple question.

If I want to transfer NZ dollars to Thai Baht at the airport, am I better to bring cash or to use my NZ ATM card? Which would get me the better rate

Thanks

Edited June 4, 2009 by laphroaig

[artbottomup]

With Thai banks charging a 150 baht ATM transaction fee for foreign banks cash would give you a better rate. Traveller's checks gives a slightly better rate than cash even after a nominal cashing fee per check.

[laphroaig]

With Thai banks charging a 150 baht ATM transaction fee for foreign banks cash would give you a better rate. Traveller's checks gives a slightly better rate than cash even after a nominal cashing fee per check.

Thanks. INteresting about the Travellers cheques. Mabe I will buy some of those instead of carrying cash.

T

[phetaroi]

With Thai banks charging a 150 baht ATM transaction fee for foreign banks cash would give you a better rate. Traveller's checks gives a slightly better rate than cash even after a nominal cashing fee per check.

Although, while some of us get travelers' checks free due to our bank accounts, most pay for them, which somewhat offsets the benefit.

[Briggsy]

Bringing NZ $ is fine. Exchange rates in Thailand are amongst the best in the world. You will lose about 3% in the transaction changing at banks' airport exchange booths or city branches. This is much better than changing NZ $ in other countries.

Using NZ $ travellers' cheques you will get a better rate losing only 2.4% but you will need to pay 1% when you buy them so you are slightly worse off but get better security.

For the best rates, go to Super Rich near Pratu Nam. They are a specialist money changer. Changing NZ $ cash there, you will lose only 1.1%

Do not buy Baht in New Zealand under any circumstances. You'll lose a fortune.

[laphroaig]

Bringing NZ $ is fine. Exchange rates in Thailand are amongst the best in the world. You will lose about 3% in the transaction changing at banks' airport exchange booths or city branches. This is much better than changing NZ $ in other countries.

Using NZ $ travellers' cheques you will get a better rate losing only 2.4% but you will need to pay 1% when you buy them so you are slightly worse off but get better security.

For the best rates, go to Super Rich near Pratu Nam. They are a specialist money changer. Changing NZ $ cash there, you will lose only 1.1%

Do not buy Baht in New Zealand under any circumstances. You'll lose a fortune.

Thanks, It is a long time since I used travellers cheques and the two banks I just went ot are unable to supply them in either NZ$ or THB. I'll stick to cash and ATM I think.

Cheers

[Carmine6]

If you're just needing cash to get where you're going plus a little extra, the rate on exchanging $100 NZ isn't going to cost that much compared to doing it elsewhere. If you are needing some large sums right away, ATM is probably going to net the best.

Here's the website for Super Rich that Briggsy mentioned earlier. Only the main offices gives the high rate on the website. They're walking distance of the BTS at I think Chitlom. You'll see tons of police and I believe army (un-armed) around that area. Starts feeling a little like South America, but at least you know you're not going to be mugged.

http://www.superrich1965.com/app/index.aspx

The current buy rate for NZD is 21.60. Bangkok Bank right now is 21.12. So you have to exchange enough to make the trip worth it.

[jingjoe]

For the NZD if you look at it this way... Exchanging NZ$1000 at Super-rich will earn you an additional 100 THB over 3 or 4 other mainstream banks. As Carmine suggested, you'll need to exchange a shed-load of $ to make the trip worth your time and effort.

This is a very handy converter for Thai banks.... Just use the drop down box to change to your currency... it compares all the mainstream banks on one page.

The LINK.

[Zpete]

If you're just needing cash to get where you're going plus a little extra, the rate on exchanging $100 NZ isn't going to cost that much compared to doing it elsewhere. If you are needing some large sums right away, ATM is probably going to net the best.

Here's the website for Super Rich that Briggsy mentioned earlier. Only the main offices gives the high rate on the website. They're walking distance of the BTS at I think Chitlom. You'll see tons of police and I believe army (un-armed) around that area. Starts feeling a little like South America, but at least you know you're not going to be mugged.

http://www.superrich1965.com/app/index.aspx

The current buy rate for NZD is 21.60. Bangkok Bank right now is 21.12. So you have to exchange enough to make the trip worth it.

Thanks for that site, Carmine, will be in LoS for about 6 weeks later this year.

I have always seemed to get best rates for the KIWI at Swampy.

Big C is not that far out of my way, I stay at Asoke and visit Shark Finn Dim Sum, near Pantip.

Will check rates online before leaving Swampy, neva change in NZ.

ASB only charges $NZ5.00 +1% FX fee, for AtM withdrawal, Kasikorm has neva added any thing at their ATM.

May have changed since last year.

....... and I do change a grand soon after arrival, still be doubtful about making special trip, but will be aware.

[blue eyes]

Unless you are planning on cashing a LARGE amount of money,travler cheks are not the way to go.The fee will eat up any savings.Unless you think getting a satong or two more for your money is worth it and the hasle of finding a place to cash them.You will also find that many banks will not cash them and almost no money exchanges wil.

[robbiecia]

Do not buy Baht in New Zealand under any circumstances. You'll lose a fortune.

Spot on

Don't buy Baht anywhere outside the immediate region, as you will also lose big time

[Zpete]

If you're just needing cash to get where you're going plus a little extra, the rate on exchanging $100 NZ isn't going to cost that much compared to doing it elsewhere. If you are needing some large sums right away, ATM is probably going to net the best.

Here's the website for Super Rich that Briggsy mentioned earlier. Only the main offices gives the high rate on the website. They're walking distance of the BTS at I think Chitlom. You'll see tons of police and I believe army (un-armed) around that area. Starts feeling a little like South America, but at least you know you're not going to be mugged.

http://www.superrich1965.com/app/index.aspx

The current buy rate for NZD is 21.60. Bangkok Bank right now is 21.12. So you have to exchange enough to make the trip worth it.

Thanks for that site, Carmine, will be in LoS for about 6 weeks later this year.

I have always seemed to get best rates for the KIWI at Swampy.

Big C is not that far out of my way, I stay at Asoke and visit Shark Finn Dim Sum, near Pantip.

Will check rates online before leaving Swampy, neva change in NZ.

ASB only charges $NZ5.00 +1% FX fee, for AtM withdrawal, Kasikorm has neva added any thing at their ATM.

May have changed since last year.

....... and I do change a grand soon after arrival, still be doubtful about making special trip, but will be aware.

Just a thought.

If you are not in a mad hurry and carrying a laptop, check out the airport rates against Super Rich and other banks in city.

Many WiFi hotspots at Swampy.