Does Kasikorn Realy Have The Best Foreign Exchange Rate ?

[Sandman77]

Last year in November I exchange 500€ at kasikorn and the exchange rate was one bath lower then the visa rate on ATM means for 100€ the bank wins 200 bath I recogneized many time the private money exchanger have neatly similar visa rates, but in the past the difference from visa exchange rate to kasikorn was lower then now, not every branch is exactly same!

[Swiss1960]

Sandman:

What does it take you to realize that not your every thought or idea is worth a new thread / post?

You claim to be in Thailand for quite some time, you claim to have travelled a lot... but still, you are asking questions which you could solve yourself in few minutes by looking at the homepages of the banks or googling a bit... same with your question about %age of interest for investments into banks...

Instead of posting your every thought the minute it comes to your mind, you could shut down your computer, go out for few days, go to the various banks, investigate your questions about investment, ATM rates, foreign currency exchange fees and so on and then come back and post your results...

[Stjohnm]

TT rates are the better, if you have a small amount of foreign currency (especially if its GB£, US/CA/AU/NZ$ or EU€) then keep it as cash in that currency. For larger amounts open a Foreign Currency account at the bank your TH฿ a/c is with, when you transfer from your Forex a/c to your TH฿ a/c you'll get the TT rate not the Cash or TC rate.

Sent from my iPad using ThaiVisa app

[rubber]

UOB! Just sayin`!

[johnsuma]

Hmmm what is tt rates & tc rates ?!!! sorry i never hear about that.

[KunMatt]

A couple of months ago xe.com gave the rate as 47.16 (checked on my phone at time of being in the exchange office); at SuperRich I got 47.15 and they were offering 47.25 for 50 pound notes!!

I cannot imagine that K-Bank or UOB has anywhere close to SuperRich's rate.

[Lefty]

Stick this website in your favorites list ,it will solve most of your FX issues.

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

Lefty

[TallGuyJohninBKK]

TT rate is the rate you'll get from the banks' counters and at their currency exchange booths. That's a rate that changes daily and varies from bank to bank. In my experience, among the major Thai banks, none has a steady, ongoing tendency toward better rates. They seem to bounce up and down compared to each other.

TC is the rate given for traveler's checks, which generally is going to be lower. And then there also are per check fees when you go to exchange traveler's checks for Thai baht.

Most or all of the major Thai banks show their foreign exchange rates on their websites, and usually update them several times a day as their rates change.

There also are a number of third party websites that track and compare the currency rates offered by the major Thai banks, and provide a daily web table showing their rates and how they compare with each other.

But generally, if you have a no foreign currency fee VISA or MC debit card and use a no Thai 150 baht fee ATM like those beloning to AEON, the exchange rate you'll get from an AEON ATM will usually be better than even the TT rate offered by the Thai banks.

[johnsuma]

Ok capito, thanks to all for these infornations.

[stockholm1995]

I always change at Super Rich. They have the best rate. Last time i change SEK to Baht they paid 4:70 while the banks paid only 4:40

[BLUE LINE]

Stick this website in your favorites list ,it will solve most of your FX issues.

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

Lefty

GREAT ! THANKS ) ) )

[MagicMax]

Kasikorn nicked 2000 baht off me on the last transfer I made from the UK of 40000! Being investigated by my UK bank now.

[MagicMax]

Bank of Ayudhya has been recommended by a Thai friend and I have never seen a Super Rich outside Bangkok.

[fire and ice]

TT rate is the rate you'll get from the banks' counters and at their currency exchange booths. That's a rate that changes daily and varies from bank to bank. In my experience, among the major Thai banks, none has a steady, ongoing tendency toward better rates. They seem to bounce up and down compared to each other.

TC is the rate given for traveler's checks, which generally is going to be lower. And then there also are per check fees when you go to exchange traveler's checks for Thai baht.

Most or all of the major Thai banks show their foreign exchange rates on their websites, and usually update them several times a day as their rates change.

There also are a number of third party websites that track and compare the currency rates offered by the major Thai banks, and provide a daily web table showing their rates and how they compare with each other.

But generally, if you have a no foreign currency fee VISA or MC debit card and use a no Thai 150 baht fee ATM like those beloning to AEON, the exchange rate you'll get from an AEON ATM will usually be better than even the TT rate offered by the Thai banks.

Rubbish - the TT rate is for Telegraphic Transfers. You transfer in your local currency and let the Thai bank convert it into Baht. Letting your home bank convert it (assuming you are form an OECD country) is utterly stupid as the rate will be rubbish compared to the Thai bank's rate.

[how241]

Stick this website in your favorites list ,it will solve most of your FX issues.

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

Lefty

Stick this website in your favorites list ,it will solve most of your FX issues.

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

Lefty

Thanks....good site to save.

[Bababooey]

TT rate is the rate you'll get from the banks' counters and at their currency exchange booths. That's a rate that changes daily and varies from bank to bank. In my experience, among the major Thai banks, none has a steady, ongoing tendency toward better rates. They seem to bounce up and down compared to each other.

I thought the TT rate was the Telex Transfer rate when wiring money in. TT rate is better than the Cash rate but there are are fixed charges with the TT rate so it depends on how much money your changing whether or not a telex transfer is better than a cash exchange.

[1kate1]

Is there a limit to the amount of baht exchanged into sterling that can be transferred out of Thailand?

[Sandman77]

hello all! Mr Swiss 1960 and magic

Every time I post something similar, there is a long time between!

Thx can change quickly, and when I recogneized some change in the little details I happy to share this with others, to get a realtime feedback and other experience about same problem or issue that no bank can delivery in real but maybe only in a un personal way,

Like a website!

The idea behind a board is to share information in realtime, I know uncle google knows everything, but is not the same here, when always other people

Aswer from a different viewangle !

To the other question!

The kasikorn bank overcharge you coz

You send uk pounds to Thailand!

On higher amounts the receiving of foreign currency coasts alot in Thailand, btw in other direction in most eu bank it's free!

Next time you send thaibath directly from uk to Thailand, and make sure that you pay all the cost, and not split anything!

Then thai banks don't charge you again

High fees!

[Anon999]

Stick this website in your favorites list ,it will solve most of your FX issues.

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

Lefty

Definitely the best source for FX rates.

[Anon999]

TT rate is the rate you'll get from the banks' counters and at their currency exchange booths. That's a rate that changes daily and varies from bank to bank. In my experience, among the major Thai banks, none has a steady, ongoing tendency toward better rates. They seem to bounce up and down compared to each other.

I thought the TT rate was the Telex Transfer rate when wiring money in. TT rate is better than the Cash rate but there are are fixed charges with the TT rate so it depends on how much money your changing whether or not a telex transfer is better than a cash exchange.

If you have a FCD account with a Thai bank then you can transfer your foreign currency into a Thai baht account on-line at the TT rate, there are no fees. Transfer money to a FCD account from an overseas bank is just that and is subject to fees by one or both banks. Use a FX trader and there are no fees you get the rate they offer you.

Edited March 18, 2013 by Anon999

[Swiss1960]

To the other question! The kasikorn bank overcharge you coz You send uk pounds to Thailand! On higher amounts the receiving of foreign currency coasts alot in Thailand, btw in other direction in most eu bank it's free! Next time you send thaibath directly from uk to Thailand, and make sure that you pay all the cost, and not split anything! Then thai banks don't charge you again High fees!

Sandman... oh Sandman...

There are at least 100 posts here on Thai Visa that clearly tell you: Send GBP / US£ / CHF / EURO to Thailand and let the Thai bank do the conversion, because you get better exchange rates this way! You are the only one I know who claims different... so who do you think is correct now?

Second, the fees for the transaction are to be completely separated from the exchange rate theme. Since the fees are very bank specific, their is no way to say whether it is better to split the fees or to pay them on the sending site or pay them on the receiving site.

[tragickingdom]

Really 500€ and you worry about the exchange rate? At the very least Kasikorn bank is the bank that is processing foreign payments faster than any other bank in Thailand, they take often just one night, that is far more important than getting a satang more or less on a 500€ exchange

[steffi]

Ask where Superrich is. They are the ones that have the best rates.

[BradinAsia]

I got burned for about 2,000 baht a few months ago by a ridiculously bad rate at a Kasikorn Bank ATM. Have never gotten such a bad rate from other banks in Thailand.

[TallGuyJohninBKK]

There's nothing you can do at a Kasikorn ATM that's going to burn you for 2000 baht compared to what any other Thai bank ATM would do.

If you ended up with a bad exchange on your funds, it more likely was related to fees of various sorts charged by your home country bank.

The exchange rates for ATM withdrawals from Thai banks generally are done using the standard VISA or MC network rates. On the same day and at the same general time, pretty much all the different Thai banks ATMs will produce the same exchange rate for someone using the same bank card at each of them.

In other words, with few exceptions that don't apply to Kasikorn, Thai banks don't set their own individual exchange rates for ATM withdrawals -- unlike when you wire funds into Thailand or try to exchange your home country cash at the Thai bank, where the rates are set from bank to bank and do vary somewhat.

[ehdakine]

Ask where Superrich is. They are the ones that have the best rates.

Here is Super Rich link http://www.superrichthailand.com/editor/rate.html Just click on Map on the top right corner for location.

They deal only with cash and you need your passport. Agree with MagicMax about not seeing Super Rich outside of Bangkok.

I also use Vasu Exchange link http://www.vasuexchange.com on Sukumvit Soi 7/1 get off at Nana BTS and walk down the stairs to Soi 7/1. Same as Super Rich they only deal with cash. Before you did not need your passport but now I see that they require a copy.

[personchester]

Hmmm what is tt rates & tc rates ?!!! sorry i never hear about that.

I agree, posters should print the full words in the first para, and abbreviation can then take place thereafter, thus

to ensure that forum members fully understand the contents of the outlined opinions.

Edited March 19, 2013 by personchester

[Sandman77]

The thai bank fees, receiving foreign money may similar , but all have a final fee of maximum coasts, scb told me between 300 bath lowest and around 560 bath highest fee, for receiving foreign currency!

Kasikorn seem to be higher at 2000 bath. Like another poster report here!

[Langsuan Man]

It's BAHT people, you take a bath, you exchange currency into baht

[TallGuyJohninBKK]

The thai bank fees, receiving foreign money may similar , but all have a final fee of maximum coasts, scb told me between 300 bath lowest and around 560 bath highest fee, for receiving foreign currency! Kasikorn seem to be higher at 2000 bath. Like another poster report here!

The fees you mention above don't apply to ATM withdrawals or counter withdrawals. They only apply to wire transferring money from outside Thailand to a Thai bank account.

The normal Thai banks fee for handling an incoming international wire transfer is a minimum 200 baht fee and maximum 500 baht fee, based on a 0.25% charge on the amount received.

The sending bank outside Thailand may also have its own additional fees, separate from those charged by the receiving Thai bank.