/Featured Quiz11 October - Weekly Featured Quiz - General Knowledge

[Naiplan]

I want to change some Baht to Sterling where can I get the best rate?

[lukasl]

There is an Indian restaurant/money changer on Soi 8 near the beach road. That's where I usually got the best rates, however one time they were below the bank owned exchanges so always compare rates first.

[lukasl]

But to be honest, your best rate is to open a Thai bank account (Kasikorn is very good and has many ATMs) and transfer money from your overseas account (in your native country currency). I can transfer up to $2500 CAD for $13.50 from my canadian bank and always get a better rate than the exchanges. The transfer usually is in my thai account the next day and Kasikorn has online banking so you can check balances easily.

This also has the advantage that you don't need to keep a lot of cash with you and the withdrawals are free if you are in Chonburi province, 15 baht outside Chonburi if you use Kasikorn ATMs. This of course depends which province you opened the account in.

You simply need to provide an address in Thailand where you stay, your passport and telephone number.

Edited March 12, 2012 by lukasl

[Rimmer]

A couple of posts removed, lets try to be nice shall we?

[jombom]

The OP asked about changing baht to sterling --- not the other way.

A guy I knew, many years ago, who had brought a lot of sterling here. He switched it to Thai baht.

A couple of years later, he had enough, and decided to leave. He simply gave newbies a good exchange rate --- let's face it GBP keeps going down --- and walked out with his sterling in his pocket.

[lukasl]

The OP asked about changing baht to sterling --- not the other way.

Was the original post edited?

Well, I never needed to exchange baht back to home currency, however that place I mentioned may still be good for that exchange. But yeah, it may be more advantageous to do it with a new arrival for both parties.

[jombom]

Normally, I only change Thai baht to USD, which I do outside the immigration office. Walking out of the office, you turn right, past the British consuls office, and 10 meters or less later, there is an exchange. They always seem to give very good rates -- certainly better than the High Street..

One day, I noticd they were offering Chinese Yuan, and for a joke really, I asked how much for 1 mill Yuan. They quoted me a price, but said, I would have to collect the money in the afternoon.

So, changing Thai baht to GBP should not be a problem.