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[trawlerman]

how do i get the best rate if i want to change £10k into baht? should i just get my uk bank to change it b4 i fly out, should i open a thai bank bank account then transfer it or should i just take it as cash open a thai acc and lodge it?

i never have a clue how to get the best rates, usually i just take 10 or 15000baht from atm at a time but i reckon this is costing me! im usually in thailand for a month at a time and seem to go through a fortune!

thanks.

[daveyravey]

Take it as sterling in £50 notes. Then go to an exchange like the Gold Bank in Pattaya and ask them for a better rate for high denominations. Expect to get about 0.2 more than advertised rate of the day. Dont covert it in the Uk as you will lose a lot of money on the transaction. Take a bank statement with you in case customs stop you and you need to prove where the money came from. If you need to change the cash in Bangkok im sure a kind member will tell you the best place.

[CharlieH]

Go here: http://bankexchanger...et/default.aspx

This will tell who and where is best place to exchange money.

Be sure to enter the correct currencies at the top ie: GBP to Baht which is currently 49.4 for £50 notes.

thats 494,000 for your 10k

DONT GO ALONE AND BE VERY AWARE OF YOUR SURROUNDINGS IF CARRYING OR EXCHANGING THAT SORT OF CASH.

Personally I would open an account in Bangkok Bank, transfer the money into Bangkok bank LONDON and have them send it on to your Bangkok bank account in Thailand. Assuming you are a regular visitor that is. Costs about 20 quid.

Hope this helps

Edited February 17, 2011 by CharlieH

[rak sa_ngop]

DONT GO ALONE AND BE VERY AWARE OF YOUR SURROUNDINGS IF CARRYING OR EXCHANGING THAT SORT OF CASH.

This recent thread highlights the dangers of making large transactions of cash at banks or currency exchanges:

[citizen33]

DONT GO ALONE AND BE VERY AWARE OF YOUR SURROUNDINGS IF CARRYING OR EXCHANGING THAT SORT OF CASH.

This recent thread highlights the dangers of making large transactions of cash at banks or currency exchanges:

I'd go for a SWIFT transfer (Halifax £9.50) as suggested above, but if you do want to exchange cash in Bangkok this is one of the best. Super Rich have very good rates and will improve this slightly for 50s. Look at the website to see the various branches. From my experience, Soi 22 gives a slightly better rate, but check old threads on this forum to see what members said.

http://www.superrichthailand.com/

P.S. Hope this isn't the well known currency exchange company where the poster on the other thread was fingered!

Edited February 18, 2011 by citizen33

[Beechboy]

With that amount it might not be sensible to change it all at once but rather keep an eye on exchage rates.

With talk of interest rates rising in the UK the pound will inevitably gradually appreciate against other currencies.. Even talk of such happenings is enough to excite the markets.

Keep an eye on the trend sterling v baht and assuming you have a safe in your room, change money according to the trend of just how many baht you will get per pound. I think it is destined to get better. Even one month could make a significant difference say 3-4 more baht to the pound.

[trawlerman]

thanks for advice, i will be in pattaya in a few weeks, will try to open bank acc there.

[ESB7]

In your situation, good old Sterling travellers cheques, you get the protection and Sterling is starting to rise so will average out over your stay...you gotta be a fool to carry 10K in cash

[KunMatt]

In your situation, good old Sterling travellers cheques, you get the protection and Sterling is starting to rise so will average out over your stay...you gotta be a fool to carry 10K in cash

Are Sterling Traveller's cheques the best way to go if coming from the UK? Isn't there an initial fee plus 1.5% by the UK bank each time when using them?

How is this better than just going to SCB and withdrawing money from the counter using a UK Debit card? I've taken 250K Baht several times and there is no transaction fee this way but you still lose about 2% load in the exchange rate by the UK bank.

I need to convert a substantial amount of money from my UK bank into my Thai bank and would like someone to explain the best and safest way for me to do this instead of me handcarrying a big bag of swag from the UK.

Traveller's cheques sound like the safest way but not the most economical, unless there is some advice on how to use them?