Exchange Rates

[logbags]

One of the things I always liked was the banks at the airport always had the going full rate when you changed your dosh at the airport. Just this year only I've noticed there is a growing gap between what you get at the airport and outside.

This morning I arrived in Phuket and saw the Aussie dollar at 27.17 for cash but over 28 for TT. I immediately thought this was a bullshit rate and every bank had exactly the same cash rate. I decided to check out the Cherng Talay Kasikorn branch and their cash rate was 27.80.

Now if your changing a bit of money it starts to add up into substantial amounts if you consider how many people pass through the airport. I only changed 300 dollars and it was a 200 baht difference which to me was a phone card, meal and pack of water.

The information and bus booking counter is still offering to exchange money at a lower rate as well. The banks would just claim the higher costs at the airport require a lower rate but the captive market would add up to a huge profit over a year. Is this my imagination and just the Australian $ or other currencies as well.

[barney42bb]

Yes all part of the greed culture consuming the world.

But the various Banks and agencies are charging more than other destinations...and the 150 baht ATM charge is another greedy cynical ploy to fleece tourists.

It will be to their cost eventually.

[Peterocket]

Yes all part of the greed culture consuming the world.

But the various Banks and agencies are charging more than other destinations...and the 150 baht ATM charge is another greedy cynical ploy to fleece tourists.

It will be to their cost eventually.

As far as I am aware airports have always charged unappealing exchange rates as well as overpriced food and taxis etc. Its just a convenience charge that is payable by the users of an airport. Its fairly easy to avoid using airport facilities if you cant afford to pay the money involved.

[KarenBravo]

As far as I am aware airports have always charged unappealing exchange rates as well as overpriced food and taxis etc. Its just a convenience charge that is payable by the users of an airport. Its fairly easy to avoid using airport facilities if you cant afford to pay the money involved.

Pretty much the same experience I've had all over the world, with airports charging premium exchange rates compared to outside.

[LivinginKata]

As far as I am aware airports have always charged unappealing exchange rates as well as overpriced food and taxis etc. Its just a convenience charge that is payable by the users of an airport. Its fairly easy to avoid using airport facilities if you cant afford to pay the money involved.

The major banks at Phuket airport have always changed at their national rate as advertised on their foreign exchange rate web site. I have checked this in the past before changing money and thought I was getting the 'full' rate. If indeed the banks at Phuket airport are not offering the same rate then that's a worrying trend. I need to watch out for that ...

[Peterocket]

As far as I am aware airports have always charged unappealing exchange rates as well as overpriced food and taxis etc. Its just a convenience charge that is payable by the users of an airport. Its fairly easy to avoid using airport facilities if you cant afford to pay the money involved.

The major banks at Phuket airport have always changed at their national rate as advertised on their foreign exchange rate web site. I have checked this in the past before changing money and thought I was getting the 'full' rate. If indeed the banks at Phuket airport are not offering the same rate then that's a worrying trend. I need to watch out for that ...

So it may now cost an extra 50 baht per 75 aus dollars that you change up at the airport. Fair point and people can now be aware of that if they cant afford the costs or would prefer to change their money elsewhere.

Personally I wouldnt say that this is part of greed culture consuming the world though. More like banks charging slightly more due to their increased overheads in airport locations; just like every other airport in the world.

[Jimi007]

See these links for exchange. The first one you just change the in currency and then notes or TT. It has all the major banks and the rate is exactly the same as when I use BKK Bank to transfer funds to them at the TT rate. Bank Rates Bangkok Bank: Bangkok Bank