Cost Efficient Way To Exchange A Few Hundreds U.s. Dollars Into Bahts In Bangkok?

[Will2011]

Hi members,

I just got a few hundreds U.S. bank notes that I would like to convert into Thai Baht. Do you know the most cost efficient way to get that cash exchanged into Baht in Bangkok?

Is there a particular agent or bank I should go?

Please advice.

Thanks

[farang000999]

all the big banks list the exchange rates on their website.

[Will2011]

That's correct. But maybe they charge higher commission. Is there any specialized agent with a reasonable rate/commission?

[Chittychangchang]

Try the farang bars, some "owners" give good rates with no commission, just have a Chang in the bar.

[Beechboy]

Exchange booth Suk, s. 7.

[KhunBENQ]

Rates vary significantly.

Best rates at Superrich (Ratchadamri road).

NEVER change at the airport, exchange Mafia offering same rate at all banks, up to 4% worse than in the city.

Use this site to preview the rates:

http://bankexchangerates.daytodaydata.net/default.aspx

(select "USD", "THB", "Notes")

Bring 50 and 100 USD notes in good condition (no earmarks, clean).

[lovelomsak]

Rates vary significantly.

Best rates at Superrich (Ratchadamri road).

NEVER change at the airport, exchange Mafia offering same rate at all banks, up to 4% worse than in the city.

Use this site to preview the rates:

http://bankexchangerates.daytodaydata.net/default.aspx

(select "USD", "THB", "Notes")

Bring 50 and 100 USD notes in good condition (no earmarks, clean).

I agree 100% SuperRich gives a very good rate.Chnaged some Canadian dollars there last week and got 31.55 which beat the banks.

[JurgenG]

Agree with above posters, SuperRich offers the best rates in town. And they have a couple of branch all over Bangkok.

If they are not conveniently located for you, you can call them to know their rate and then go to your local money changer and try to negotiate the same rate. It usually works.

[GreenSnapper]

Agree with above posters, SuperRich offers the best rates in town. And they have a couple of branch all over Bangkok.

If they are not conveniently located for you, you can call them to know their rate and then go to your local money changer and try to negotiate the same rate. It usually works.

Why call?

All rates are in the internet.

More convenient location is Vasu Exchange at Nana BTS. Very similar rates to Superrich.

[Will2011]

Thanks for the useful information!

There's Super Rich branch at Sala Daeng. Can I go there instead? I assume they practice the same rates as Ratchadamri location.

[planemad]

VASU is probably the easiest to find, just on the corner of Suk/Soi 7. Rates are about 2 satang lower than SupeRich, so unless changing millions, not worth the bother. Always better than banks.

[Thongkorn]

I use the Chinese money changers, they give you a better rate because they want foreign currency.

[Tim207]

I thought this whole post was pretty silly, worrying about changing a few hundred dollars. It got me curious though. So, how big of a difference in rates are there? If Super Rich or VASU are the best, what is the difference between them and bank rates? 10 satang, 20 satang? Anybody have examples of posted rates taken around the same time? It would be nice to be able to calculate how much you would gain by searching out a particular company for a given amount of money to change.

[yankee99]

Up to you of course. It is a waste of time searching for only a few hundred dollars. Most of the major banks will be very close you may save 30-50 baht if you are lucky

[Will2011]

As an update, I went to Super Rich Sala Daeng branch yesterday. In fact, it looks Super Awckard as there is no exchange rate displayed in the boot whatsoever. The guy just pulled out his calculator to show me the rate that came from under his desk! I got 30.45

Not sure if other branches are better, but it doesn't look super legit.

[GreenSnapper]

As an update, I went to Super Rich Sala Daeng branch yesterday. In fact, it looks Super Awckard as there is no exchange rate displayed in the boot whatsoever. The guy just pulled out his calculator to show me the rate that came from under his desk! I got 30.45

Not sure if other branches are better, but it doesn't look super legit.

There are lots of copies named Superrich, but the real one is near BigC Chidlom, opposite CW. Exchange rates are published on screens and the internet.

[yankee99]

As an update, I went to Super Rich Sala Daeng branch yesterday. In fact, it looks Super Awckard as there is no exchange rate displayed in the boot whatsoever. The guy just pulled out his calculator to show me the rate that came from under his desk! I got 30.45

Not sure if other branches are better, but it doesn't look super legit.

thats about .20 better then a bank. So for every $500usd you change thats 100 baht you earn.

[breadbin]

Super rich

Google it.

[Soutpeel]

As an update, I went to Super Rich Sala Daeng branch yesterday. In fact, it looks Super Awckard as there is no exchange rate displayed in the boot whatsoever. The guy just pulled out his calculator to show me the rate that came from under his desk! I got 30.45

Not sure if other branches are better, but it doesn't look super legit.

thats about .20 better then a bank. So for every $500usd you change thats 100 baht you earn.

So if he changed less than $500 he has basically cover his taxi fare or BTS fare, getting there...

[Will2011]

So if he changed less than $500 he has basically cover his taxi fare or BTS fare, getting there...

Have you heard of monthly BTS trips? Wherever I go it's deducted from the number of trips I purchased. Don't focus too much on trivial details that even a dog would think about, but more on the best way to get your money back into baht.

By the way, it appears more interesting to go to a good currency exchange booth if we have a lot of cash than making a wire transfer or withdrawing from an atm machine.

[yankee99]

So if he changed less than $500 he has basically cover his taxi fare or BTS fare, getting there...

Have you heard of monthly BTS trips? Wherever I go it's deducted from the number of trips I purchased. Don't focus too much on trivial details that even a dog would think about, but more on the best way to get your money back into baht.

By the way, it appears more interesting to go to a good currency exchange booth if we have a lot of cash than making a wire transfer or withdrawing from an atm machine.

I will stick with a wire transfer but thanks for that advice. I just cant see carrying 10,20 or more thousand dollars to get the same rate.

[Will2011]

depending on the bank that transfer is made, one can experience a depreciation up to 2 baths plus commission...

[yankee99]

depending on the bank that transfer is made, one can experience a depreciation up to 2 baths plus commission...

I can speak for kasikorn and Bkk bank. I can assure you that there is no depreciation from their online telex rates (also if you are a regular sometimes they will call and give a better then posted rate).. And any commission is negligible.

Please post some examples of banks that do this so others can be aware?

fyi it is baht not bath

[Will2011]

It was like 9 months ago, wired from hsbc us premier like usd 14,000 that were supposed to be thb 400,000+. At the end, I got like thb 398,000 in my BB account just because of commission and ripoff taxes. I just remember the rate was like 29.2 instead of 31...

[yankee99]

It was like 9 months ago, wired from hsbc us premier like usd 14,000 that were supposed to be thb 400,000+. At the end, I got like thb 398,000 in my BB account just because of commission and ripoff taxes. I just remember the rate was like 29.2 instead of 31...

You really did get robed as 29.2 would have netted 408,800 and 31 would have been 434000. I assume BB is bangkok bank and i think you will find that they are one of the best banks here. I would be interested if any one else has ever gotten 28.4 to the dollar in the last 12 months?

Looking at the history in January seems the baht was close to its high for the year at close to its high for the year. I have had many wires this year and never had a low rate that you are claiming Bangkok Bank.

[Naam]

It was like 9 months ago, wired from hsbc us premier like usd 14,000 that were supposed to be thb 400,000+. At the end, I got like thb 398,000 in my BB account just because of commission and ripoff taxes. I just remember the rate was like 29.2 instead of 31...

commission is max 500 Baht per transfer, "rip off taxes" do not exist, your maths is flawed and during the last 12 months USD THB was never below 30!

[Will2011]

It was like 9 months ago, wired from hsbc us premier like usd 14,000 that were supposed to be thb 400,000+. At the end, I got like thb 398,000 in my BB account just because of commission and ripoff taxes. I just remember the rate was like 29.2 instead of 31...

commission is max 500 Baht per transfer, "rip off taxes" do not exist, your maths is flawed and during the last 12 months USD THB was never below 30!

Dear Sir,

The data you displayed is correct. However, banks never sell you money at market rate. It's like if you go to buy let's say one bottle of milk at Tops. This product you paid 42b was not sold to Tops at 42b. As in any business, companies have their own margins. They may buy the bottle of milk at 10b. As a comparison, banks exactly do the same. They have their own margins except that it's not as much as a food retailer.

I'm not sure how you define conversion fee but I do call it ripoff taxes as they are added to the rate the bank sells the money.

I hope you understand the situation a bit better so that your comments are more accurate

[yankee99]

It was like 9 months ago, wired from hsbc us premier like usd 14,000 that were supposed to be thb 400,000+. At the end, I got like thb 398,000 in my BB account just because of commission and ripoff taxes. I just remember the rate was like 29.2 instead of 31...

commission is max 500 Baht per transfer, "rip off taxes" do not exist, your maths is flawed and during the last 12 months USD THB was never below 30!

Dear Sir,

The data you displayed is correct. However, banks never sell you money at market rate. It's like if you go to buy let's say one bottle of milk at Tops. This product you paid 42b was not sold to Tops at 42b. As in any business, companies have their own margins. They may buy the bottle of milk at 10b. As a comparison, banks exactly do the same. They have their own margins except that it's not as much as a food retailer.

I'm not sure how you define conversion fee but I do call it ripoff taxes as they are added to the rate the bank sells the money.

I hope you understand the situation a bit better so that your comments are more accurate

Look you obviously dont get it. Most major banks here in thailand post the exchange rate on their website. That is the rate you get end of story. Sorry you dont seem to be able to follow this concept.

[Will2011]

It was like 9 months ago, wired from hsbc us premier like usd 14,000 that were supposed to be thb 400,000+. At the end, I got like thb 398,000 in my BB account just because of commission and ripoff taxes. I just remember the rate was like 29.2 instead of 31...

commission is max 500 Baht per transfer, "rip off taxes" do not exist, your maths is flawed and during the last 12 months USD THB was never below 30!

Dear Sir,

The data you displayed is correct. However, banks never sell you money at market rate. It's like if you go to buy let's say one bottle of milk at Tops. This product you paid 42b was not sold to Tops at 42b. As in any business, companies have their own margins. They may buy the bottle of milk at 10b. As a comparison, banks exactly do the same. They have their own margins except that it's not as much as a food retailer.

I'm not sure how you define conversion fee but I do call it ripoff taxes as they are added to the rate the bank sells the money.

I hope you understand the situation a bit better so that your comments are more accurate

Look you obviously dont get it. Most major banks here in thailand post the exchange rate on their website. That is the rate you get end of story. Sorry you dont seem to be able to follow this concept.

The data attached appears to come from a german bank, ComDirect. It does show the market rate only. Not the selling price.

Perhaps you are tired today and didn't take a look at the attachment. That's ok, I won't judge you...

[Tim207]

The data attached appears to come from a german bank, ComDirect. It does show the market rate only. Not the selling price.

Perhaps you are tired today and didn't take a look at the attachment. That's ok, I won't judge you...

The Bangkok Bank quote for Feb. 15 was 30.75

http://www.bangkokba...s/FX_Rates.aspx

My guess is your sending bank charged a fee and/or did the conversion before sending to Bangkok Bank.

If you got screwed that bad, I now understand why you are so concerned about changing a few hundred dollars.

I went back to the date of your exchange at Superrich and it appears you saved .18 baht per dollar. Assuming a "few" is 300 then your trip saved you about 48 baht.