Aus $ To Thai Baht

[bikkalad]

Hi all, im a newbie been to Thailand a few times through the years.......got told to change money through Aus Post as they dont charge intrest etc.........well ive been looking on XE Currency exchange and the exchange rate was about 32.524 to the good old Aussie dollar so i did a trip to the local P.O and was gonna change some cash they came up with 29.25 or something like that they told me they go off American Express exchange rate,so i never bothered will wait till i go in Aug.......any way thats my rant for the day....cheers fellas and girls of course;)

[ozzieovaseas]

It suprising how many people Aus post get on this, claiming that there are no fees or charges. Just another dishonest slight of hand since the exchange rate they give you is so low that its probably more viable to do business with an agent that does charge fees.

I do agree with you though, Aussie banks are worth avoiding at all costs. Just take cash and get it exchanged in LOS.

If you don't have a Thai bank account, your options are limited in any case, they will get you in the end. They claim the cheapest way is to use credit card, and even then you will get charged around 3% and billed a crappy exchange rate.

Even with the ridiculous chargesat every possible turn these bankstards still claim they can't make money and have to lay off staff and cut services. No wonder they are hated

[ozzieovaseas]

A more accurate method of evaluation is to check the rate against the rate for telegraphic transfer at a Thai bank. The Xce is always a bit high and cant be relied on to much but if you check the Kasikorn rate:

http://www.kasikornbank.com/TH/RatesAndFees/ForeignExchange/Pages/ForeignExchange.aspx

For example, the XCE rate now is 32.52 and the Kasikorn rate 32.23, which is quite reasonable.

Compare to Aussie bank rate at same time: 30.79 for transfer and 29.9 if you are wanting to exchange au$ for baht bank notes..and thats before the charges!

[BaanOz]

They claim the cheapest way is to use credit card, and even then you will get charged around 3% and billed a crappy exchange rate.

For credit cards you can't go past this one...

http://www.28degreescard.com.au/

Load it up with cash before you go. NO FEES and exchange rate is good. More info/chat here:

http://forums.whirlpool.net.au/forum-replies.cfm?t=1471967

Cheers.

[remiss]

XE lists the rate in the middle of selling & buying rate. So it's a little "higher" or a little "lower" depending on which side of the table you are on

[softgeorge]

If you are travelling to Thailand do not change your money until you get there. You will get a far better exchange rate in thailand than you will get in Aust.

[electau]

1. Cash, AUD to Thailand and exchange at a Thai Bank FX desk.

2. Travellers Cheques (TC) in $100 denominations, cash at a Thai Bank FX desk.

3. Have a Thai Bank account and transfer from Australia in AUD by internet banking.

4. Use a Australian bank ATM card (debit card) not a credit card at a Thai Bank ATM (may be charged 150THB access fee).

5. Use a Travel Money card eg CBA travel money. This is a debit card. (may be charged 150THB access fee)

All cards have fees and charges which will appear on your statement. TCs cost !% of the value purchased in Australia plus a encashment fee for each at a Thai bank.

Credit cards are the most expensive way of obtaining cash overseas.

Check with your Australian bank for current fees and charges.

[gburns57au]

I just use a credit card.....the exchange rate when the transaction comes into Oz is usually better than the day of transaction.

Withdraw in amounts of 20,000 to minimize the amount of transactions (used to do 10,000 baht before) and avoid paying the 150 baht too many times.

Just find it more convenient and I aint too worried about an extra baht or two on exchange rates, dont want to think that hard on holidays.

[BaanOz]

Credit cards are the most expensive way of obtaining cash overseas.

Not true.

See my link above.

I used a savings account ATM card for years before realising the fees I was charged and swapped to that "28 Degrees" card. You can put cash on it and withdraw in Thailand. You'll pay no interest doing this and no fees on the card and good exchange rate.