Capealava Posted July 21, 2012 Share Posted July 21, 2012 I am bringing $6000 USA dollars in $100 dollar bills into Thailand. I was looking at the Bank exchange rates for July 20th $5-$20 is 31.77 and $50-$100 is 31.27. I do not understand the rate discrepancy. Can someone enlighten me. Does the 5-20 and 50-100 mean the bill size. If so Why the lower exchange rate for $100 bills.?? Are there better place to exchange the money I am bringing in that a Thai bank?? Thanks for any reply Link to comment Share on other sites More sharing options...
daftpunker Posted July 21, 2012 Share Posted July 21, 2012 CHANGE AT THE AIRPORT Link to comment Share on other sites More sharing options...
MrRealDeal Posted July 21, 2012 Share Posted July 21, 2012 Changing at the Airport is obviously not correct ...... You can exchange your money in the black market for a little more, I'm not sure why you got those quotes however they are not accurate in leading you to believe that smaller demonated bills exchange for more , in fact smaller bills trade for less because their are more to handle count ect. It may be a typo that flipped around the rates accedentally is my guess. Just go to a Bank they are all close enough to the same rate. But 100's are definitly the way to go, an actual bank in the Airport would probabbly be the same, but just not the small exchange booths , while some people claim they are the same , they are not. I mentioned the Black market thing just for your information not as a recomendation. The black market people are obviously laundering ill gotten gains from drugs for the most part. Link to comment Share on other sites More sharing options...
Feeld Posted July 21, 2012 Share Posted July 21, 2012 Take a look here, you'll have to change the currency to USD at the top of the page but it'll show you who's paying what and where. http://bankexchangerates.daytodaydata.net/default.aspx Link to comment Share on other sites More sharing options...
Feeld Posted July 21, 2012 Share Posted July 21, 2012 Changing at the Airport is obviously not correct ...... You can exchange your money in the black market for a little more, I'm not sure why you got those quotes however they are not accurate in leading you to believe that smaller demonated bills exchange for more , in fact smaller bills trade for less because their are more to handle count ect. It may be a typo that flipped around the rates accedentally is my guess. Just go to a Bank they are all close enough to the same rate. But 100's are definitly the way to go, an actual bank in the Airport would probabbly be the same, but just not the small exchange booths , while some people claim they are the same , they are not. I mentioned the Black market thing just for your information not as a recomendation. The black market people are obviously laundering ill gotten gains from drugs for the most part. That's not entirely true, if you look at the link I posted you'll see that the variance between the best and the worst rate is around THB1.60 per USD which on $6k will soon add up. Also, Super Rich is consistently better rate wise than any of the banks. Link to comment Share on other sites More sharing options...
MrRealDeal Posted July 21, 2012 Share Posted July 21, 2012 (edited) Changing at the Airport is obviously not correct ...... You can exchange your money in the black market for a little more, I'm not sure why you got those quotes however they are not accurate in leading you to believe that smaller demonated bills exchange for more , in fact smaller bills trade for less because their are more to handle count ect. It may be a typo that flipped around the rates accedentally is my guess. Just go to a Bank they are all close enough to the same rate. But 100's are definitly the way to go, an actual bank in the Airport would probabbly be the same, but just not the small exchange booths , while some people claim they are the same , they are not. I mentioned the Black market thing just for your information not as a recomendation. The black market people are obviously laundering ill gotten gains from drugs for the most part. That's not entirely true, if you look at the link I posted you'll see that the variance between the best and the worst rate is around THB1.60 per USD which on $6k will soon add up. Also, Super Rich is consistently better rate wise than any of the banks. I see that on the site but I think it's more to do with the time of the reporting ..... I highly doubt that TBM bank is 1.6 less than another bank at the same time in Thailand as they all use the same international exchange rate program. It looks that way from the website but the reality of getting 1.6 bettter than TMB bank is not very likely. The reason that makes no sense is that if that website was actually accurate you could spend all day long buying and selling money making a profit because the 1.6 is more than the comissions would be , so you could sell your Thai bhat for dollars at one place and then sell your dollars for thai bhat at another and keep doing that all day long and that's just not how banking works. What you failed to notice is that the TMB has such a low rate because it is exchanging 1 dollar bill and the other a 100 dollar bill some are 20's so you need to compare the same bills not assume that because TMB is showing the rate on 1 dollar bill that the rate for their 100 is 1.6 less because it is not. If you look closely you will find that the Super Rich rate for 1 dollar is 30.8 Not 31.6 which is the 100 bill rate. Honestly that website is pretty lousy because some of the rates are lower because the include 50 and 100 and some only the 100 and some fooled people like you into thinking TMB has a 1.6 lower rate because it's comparing a 1 dollar bill to a 100 dollar bill. Edited July 21, 2012 by MrRealDeal Link to comment Share on other sites More sharing options...
Feeld Posted July 21, 2012 Share Posted July 21, 2012 Changing at the Airport is obviously not correct ...... You can exchange your money in the black market for a little more, I'm not sure why you got those quotes however they are not accurate in leading you to believe that smaller demonated bills exchange for more , in fact smaller bills trade for less because their are more to handle count ect. It may be a typo that flipped around the rates accedentally is my guess. Just go to a Bank they are all close enough to the same rate. But 100's are definitly the way to go, an actual bank in the Airport would probabbly be the same, but just not the small exchange booths , while some people claim they are the same , they are not. I mentioned the Black market thing just for your information not as a recomendation. The black market people are obviously laundering ill gotten gains from drugs for the most part. That's not entirely true, if you look at the link I posted you'll see that the variance between the best and the worst rate is around THB1.60 per USD which on $6k will soon add up. Also, Super Rich is consistently better rate wise than any of the banks. I see that on the site but I think it's more to do with the time of the reporting ..... I highly doubt that TBM bank is 1.6 less than another bank at the same time in Thailand as they all use the same international exchange rate program. It looks that way from the website but the reality of getting 1.6 bettter than TMB bank is not very likely. If you think that then I suggest you check rates at different times on different days and you'll notice that a similar variance exists. There is not much commonality between Thai banks and each do thier own thing when it comes to FOREX and each sets its own spread based on the banks need to obtain currency or not. The calculation that is used to obtain a midpoint is probably common although the timming of the midpoint calculation almost certainly varies hence that combined with the banks need results in such large discrepancies between banks. Link to comment Share on other sites More sharing options...
Capealava Posted July 21, 2012 Author Share Posted July 21, 2012 Thank you. It looks like Super Rich is the place to go. I will be in BKK for 2 days. It is strange --using Aeon ATM (minus the 150 baht Thai Bank charge in Thailand) gives consistently .2--.3 higher rates than the banks. Thought I would bring some cash this time-should have just left in my USA bank and drew in out at Aeon Atms. Link to comment Share on other sites More sharing options...
IMA_FARANG Posted July 21, 2012 Share Posted July 21, 2012 Yes, if you are exchanging smaller bills...$20 or smaller is what they often call small...will be less than exchanging $100 bills. This is supposedly due to the extra handling costs involved with sorting, counting, etc. involved with handling those smaller bills. At least that;s what the banks say. So, if you can, bring your cash in larger bills. You'll get a slightly better exchange rate. And don't even bother with coins....they can't be changed. Link to comment Share on other sites More sharing options...
MrRealDeal Posted July 21, 2012 Share Posted July 21, 2012 Changing at the Airport is obviously not correct ...... You can exchange your money in the black market for a little more, I'm not sure why you got those quotes however they are not accurate in leading you to believe that smaller demonated bills exchange for more , in fact smaller bills trade for less because their are more to handle count ect. It may be a typo that flipped around the rates accedentally is my guess. Just go to a Bank they are all close enough to the same rate. But 100's are definitly the way to go, an actual bank in the Airport would probabbly be the same, but just not the small exchange booths , while some people claim they are the same , they are not. I mentioned the Black market thing just for your information not as a recomendation. The black market people are obviously laundering ill gotten gains from drugs for the most part. That's not entirely true, if you look at the link I posted you'll see that the variance between the best and the worst rate is around THB1.60 per USD which on $6k will soon add up. Also, Super Rich is consistently better rate wise than any of the banks. I see that on the site but I think it's more to do with the time of the reporting ..... I highly doubt that TBM bank is 1.6 less than another bank at the same time in Thailand as they all use the same international exchange rate program. It looks that way from the website but the reality of getting 1.6 bettter than TMB bank is not very likely. If you think that then I suggest you check rates at different times on different days and you'll notice that a similar variance exists. There is not much commonality between Thai banks and each do thier own thing when it comes to FOREX and each sets its own spread based on the banks need to obtain currency or not. The calculation that is used to obtain a midpoint is probably common although the timming of the midpoint calculation almost certainly varies hence that combined with the banks need results in such large discrepancies between banks. A small variance yes ..... but you said 1.6 because you were fooled by the site into thinking they were comparing the same thing and they were not , they were comparing a 1 dollar rate to a 100 dollar rate ..... the variance on the 100 is neglegible at the same time at all the banks in Thailand , they do not change the rate depending on how many 100's they think they need that hour or day they base the calculation on the forex rate and whtever variance from that they decide not based on how many 100's they have or don't have in the vault on any given day. ......... the aeon atm does not charge the normal 150 bhat fee by the way OP Link to comment Share on other sites More sharing options...
MrRealDeal Posted July 21, 2012 Share Posted July 21, 2012 The large discrepency comes from you not realising that the TMB is showing the 1 dollar rate and others the 100 dollar rate or the 20 or the 50 AND 100 ...... not because of the reasons you stated Link to comment Share on other sites More sharing options...
MrRealDeal Posted July 21, 2012 Share Posted July 21, 2012 Changing at the Airport is obviously not correct ...... You can exchange your money in the black market for a little more, I'm not sure why you got those quotes however they are not accurate in leading you to believe that smaller demonated bills exchange for more , in fact smaller bills trade for less because their are more to handle count ect. It may be a typo that flipped around the rates accedentally is my guess. Just go to a Bank they are all close enough to the same rate. But 100's are definitly the way to go, an actual bank in the Airport would probabbly be the same, but just not the small exchange booths , while some people claim they are the same , they are not. I mentioned the Black market thing just for your information not as a recomendation. The black market people are obviously laundering ill gotten gains from drugs for the most part. That's not entirely true, if you look at the link I posted you'll see that the variance between the best and the worst rate is around THB1.60 per USD which on $6k will soon add up. Also, Super Rich is consistently better rate wise than any of the banks. That is just incorrect dude ..... You are looking at the difference between a 1 dollar rate and the 100 dollar rate. Link to comment Share on other sites More sharing options...
Feeld Posted July 21, 2012 Share Posted July 21, 2012 The large discrepency comes from you not realising that the TMB is showing the 1 dollar rate and others the 100 dollar rate or the 20 or the 50 AND 100 ...... not because of the reasons you stated As is Super Rich at 30.80 (vs TMB at 30.07) and most of the other banks also (30.41 to 30.55), look at the bottom quarter of the list! Link to comment Share on other sites More sharing options...
MrRealDeal Posted July 21, 2012 Share Posted July 21, 2012 (edited) The large discrepency comes from you not realising that the TMB is showing the 1 dollar rate and others the 100 dollar rate or the 20 or the 50 AND 100 ...... not because of the reasons you stated As is Super Rich at 30.80 (vs TMB at 30.07) and most of the other banks also (30.41 to 30.55), look at the bottom quarter of the list! Yup and that a far cry from 1.6 now isn't it ? Like I said it also has to do with the time of posting , if you notice the higher rates are from more recent updates. You were obviously wrong dude just realise it and move on. Try going to the actual bank sites right now and see what you find instead of that site and you will see a more realistic picture. Edited July 21, 2012 by MrRealDeal Link to comment Share on other sites More sharing options...
Feeld Posted July 21, 2012 Share Posted July 21, 2012 The large discrepency comes from you not realising that the TMB is showing the 1 dollar rate and others the 100 dollar rate or the 20 or the 50 AND 100 ...... not because of the reasons you stated As is Super Rich at 30.80 (vs TMB at 30.07) and most of the other banks also (30.41 to 30.55), look at the bottom quarter of the list! Yup and that a far cry from 1.6 now isn't it ? Like I said it also has to do with the time of posting , if you notice the higher rates are from more recent updates. You were obviously wrong dude just realise it and move on. The OP is a tourist who is still in his own country and seeks advice on exchange rates, exchange rates on USD/THB in Thailand involve denomination (bill size) as well as financial exchange locations. If you can't uinderstand that I'm sorry, but if you want to be right and everyone else wrong, I'm happy that it be that way, over and out. Link to comment Share on other sites More sharing options...
MrRealDeal Posted July 21, 2012 Share Posted July 21, 2012 (edited) The reality is that on 1000 USD the flucuation difference is no more than .3 ...... than means at one place you would get 31,000 and another 31,300 at the very best , nornally it's between .1 or .2 so you would get at most 10 dollars on 1000 more likely about 5 or 6 dollars. Not the 16,000 you origionaly tried to say. 100 - 300 bhat is a far cry from 16,000 ..... You also fail to realise that the 100 to 300 bhat you gain you also lose because the comissions are slightly higher at the banks with the better exchange rates. In the end like I said the difference is not even worth the gas it cost to drive across town. I didnt say everyone else was wrong I said that when you said the difference could be 1.6 ..... that YOU were wrong ......... and you were Edited July 21, 2012 by MrRealDeal Link to comment Share on other sites More sharing options...
daftpunker Posted July 21, 2012 Share Posted July 21, 2012 or keep the dollars the ladies love it Link to comment Share on other sites More sharing options...
Thongkorn Posted July 21, 2012 Share Posted July 21, 2012 (edited) Change it at a money changer in Bangkok , I go to a Chinese money changer, the bigger the bill the more you get. Edited July 21, 2012 by Thongkorn Link to comment Share on other sites More sharing options...
ripstanley Posted July 21, 2012 Share Posted July 21, 2012 CHANGE AT THE AIRPORT This is very poor advice. I think that you are very aware that what you have stated and trying to bait this forum. I have read other comments you have made and I just shake my head with disbelief. YFK Link to comment Share on other sites More sharing options...
kennedy Posted July 22, 2012 Share Posted July 22, 2012 Make sure the bills are in good condition. Link to comment Share on other sites More sharing options...
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