Convertin Thai Baht In Canada

[mrmazinkle]

Hi one of my students is going to Vancouver on a month exchange.I 'm a uk expat ans she asked can I exchange Thai Baht there..I said yes without thinking..and added as long as the notes are ok.ie not ripped or writen on....Is this correct?Is there a minimum denomination of not..ie 500 baht 1000?thank you for replies.Thomas

[Jingthing]

Good question. I'd be somewhat concerned. Thai baht is considered an "exotic" outside SE Asia. Even if it is easy to change, I wouldn't expect a good rate.

Royal Bank of Canada

Royal Bank of Canada has branches across Canada. You can walk into any of them or call in advance to inquire about your particular foreign exchange transaction. RBC also provides a page on its website specifically for foreign exchange transactions (see resource link). Make estimates using the calculator on the Web page. RBC advises that check exchanges are much cheaper than cash exchanges. Bear in mind that not all foreign currencies are exchanged. It's advisable to contact RBC in advance to make sure your particular currency is traded. Go to the website to search for branches across Canada and their contact information. RBC Royal Bank rbcroyalbank.com

http://traveltips.usatoday.com/exchange-foreign-currency-canada-21177.html

The student should definitely look into to this. Of course, you could change the baht in Thailand to CADs and bring the cash that way, and also an international ATM card from a Thai bank account should work to deliver CADs. If planning on using a Thai bank ATM card the student could confirm the card is actually good for international use.

Edited April 1, 2011 by Jingthing

[cihan]

if i am going to canada i will not take thai baht with me. outside asia not easy to change thb. tell the student change them in bkk

[cdnvic]

I've changed denominations as low as 100. I would strongly suggest using travellers checks as you get a better rate and avoid Thomas Cook as I've gotten horrible rates from them, well below the going rate.

The best rate by far will be via ATM withdrawal in Canada.

[shepsel]

Certain Canadian banks (central offices and not smaller branches ) will exchange Thai baht into Canadian currency, however the exchange rate will be poor.

[WilliaminBKK]

ATM is the best way to go without question, some of the exchange places in Chinatown offer what looks to be a decent rate but they will refuse most of the bills, no clue why.

[mrmazinkle]

Thank you all for the replies..Thomas

[JusMe]

Quite a long time ago, I managed to change Thai baht bills into Canadian dollars at a Royal Bank branch in Edmonton. No coins, but bills were fine.

Of course, I have no idea of what exchange rate I got, and had little choice at the time anyway. And it wasn't much.

As recommended, ATM is probably the best way to go.

[clinique]

as stated Thai baht is considered an 'exotic' outside SE asia. many banks will not accept/convert.

Even had the experience in Australia recently - "sorry we dont accept Thai baht".

Reasons given were 1) its not a heavily traded currency 2) there are many "fake" notes in circualtion..

Better change to some CAD cash before leaving and use an ATM card with international usage permitted.

Edited April 2, 2011 by clinique