Better ways to get Thai Baht

[tandor]

2 hours ago, Old Croc said:

Join the Police force.

...best rates every day.

[sometimewoodworker]

1 hour ago, DogNo1 said:

This is the gazillionth discussion of how to change money on TV.  There is some risk associated with carrying cash.  I withdraw Thai Baht across the counter at Bangkok Bank with my no-foreign-transaction-fee Visa credit card and incur no fees of any kind.  Today I withdrew 20,000 Baht and got an exchange rate of 34.8 Baht per US dollar.  If my credit card is lost or stolen, a prompt call to my bank will prevent any loss.  Interest is charged on the cash advance right away so I always make a payment to my bank before I withdraw.   I always carry $1,500 in my pocket coming over to tide me over a cancellation and replacement of my credit card if necessary.  If you can't get a credit card with no foreign transaction fee, cash is probably the next best thing but, as already noted, there is a limit to the amount that you can legally carry.  Incidentally, if you have a credit card with no foreign transaction fee, it is always better to make your purchases in Thai Baht.  If you charge in your own currency, you will get the exchange rate that the store, hotel, etc. uses which will usually be less than the Visa exchange rate.

Sorry there is no limit to the amount that you can legally carry.

 

There is a limit to the amount you can carry without declaring it to customs. 

 

You can carry any amount however you will be required to show the origin of the money.

[james1995]

I get a slightly better exchange rate than cash with my no fee fidelity atm card.  Eats all the fees.  I kinda feel guilty because I'm basically using them and they're the ones paying through the nose not me.

[philliphn]

3 hours ago, joespnet said:

I personally don't like carrying a lot of cash with me.  For cash during our visits I use a debit card that refunds the ATM fee back to me.  I use a debit card from Scottrade Bank and withdraw up to 20,000 Baht at a time any time from just about any ATM in Thailand.  There are other card issuers that refund the fees also.  Look around to see which ones refund international ATM fees.  When using the card, the kiosk always shows a screen, that you have to accept, that says there will be a 200 Baht fee.  But at the end of the month the debit card statement refunds back all the fees incurred during the statement period.   Very nice.
I have the debit card account connected to my regular US bank account, so I can replenish the balance in the debit card account as needed during my stay.

The Schwab ATM cards refunds the fees. You can also get  $15.000 USD equivalent in cash. At a Bank. This is according to Schwab. Will give it a try on my next visit.

Edited February 28, 2017 by philliphn

[Flinstone]

I go to the ATM, pull out 20,000 baht and go party. If it costs me 220 baht ATM fee and whatever from my 'Home bank" what the hell!!

Seriously, if you can't afford to lose a few bucks on the ATM costs, do you really think you should be going out on  an night on the town??

 

 

[Elkski]

I just wanted to 2 nd the comment that you should make sure these bills are nearly perfect. not folded too much and have absolutely no ink writing on them anywhere. Even using sequentially newly printed $100 bills I had a rejection rate  at a

Major thai bank of 10%.

They don't seem to have the black pen to test for counterfeit or not. 

Visiting a bank month ago my rejection rate  there was like 30%

[elgenon]

There is an exchange very close to the Nana BTS station. I use it often.

[jerojero]

Vasu Exchange, Sukhumvit Soi 7. Absolutely best rates. Checkout their website, daily rates posted there. No fees.

[Langsuan Man]

12 hours ago, james1995 said:

I get a slightly better exchange rate than cash with my no fee fidelity atm card.  Eats all the fees.  I kinda feel guilty because I'm basically using them and they're the ones paying through the nose not me.

But I guess you are forgetting the Foreign Transaction Fee that Fidelity does not cover

 

Quote

For each foreign transaction, there is a foreign transaction fee (currently, 1 percent of the transaction for non-U.S. dollar transactions), which will be included in the amount charged to your account. This charge may apply whether or not there is a currency conversion.

source:https://www.fidelity.com/cash-management/faqs-atm-debit-card

 

So don't feel too guilty since they are sort of using you also 

[aussiep]

Hi.

I will be at Swampy rather early coming for Malaysia.

Does someone know for sure what time the Super Rich booth  down near the train opens in the morning.

 

Thanks   aussiep

[tiocfaidh]

According to the aforementioned application 06:30-22:00

[tiocfaidh]

Hi.

I will be at Swampy rather early coming for Malaysia.

Does someone know for sure what time the Super Rich booth  down near the train opens in the morning.

 

Thanks   aussiep

According to the aforementioned application 06:30-22:00

[CharlieH]

Problem for a tourist changing that amount of cash ($10k) is what do you do with it once you changed it. Hardly going to walk around with it in your pocket.Wouldnt leave it in hotel room safe. Cash is king, yes, but sometimes practicality and safety win and better to draw what you need when you need it from a bank. (IMHO).

[kkerry]

13 hours ago, Flinstone said:

I go to the ATM, pull out 20,000 baht and go party. If it costs me 220 baht ATM fee and whatever from my 'Home bank" what the hell!!

Seriously, if you can't afford to lose a few bucks on the ATM costs, do you really think you should be going out on  an night on the town??

 

 

 

I don't know where you are from, but with an Australian ATM card the ATM charges in total are more than "a few bucks'.

 

Here's a comparison I did with rates I found today online from SCB and SuperRich.

 

Using my Australian ATM card to withdraw 20,000 baht today it will cost me the following.

$760 + $8.20 (Thai ATM fee) + $22.80 (3% Overseas Transaction fee) = total cost of AUD 791.

Go to SR and 20,000 baht will cost me AUD 749,  $42 less.

 

If I was on vacation for ten days and withdrawing 20,000 a day (I want to have a good time) I would end up paying an extra $420 in ATM charges.

If you can afford to lose that sort of money when you don't have to then up to you 

 

 

 

 

[Lannig]

21 hours ago, twizzian said:

 

Make sure none of your cash is torn or any pen writing scribbled on them as SuperRich will reject those notes.

Many normal Thai banks will not take them either.

Not in my experience. At Suwa' airport booth, they even taped one torn note for me. They're quite forgiving. As for banks, it varies a lot. Kasikorn is the worst: the slightest, almost invisible spot on the bill and they will reject it (tried different branches). Others like TMB less demanding.

 

Re: the issue of carrying cash: I put the money on my Thai bank account ASAP so not much of an issue for me, but this doesn't apply to many tourists, I agree.

Edited March 1, 2017 by Lannig

[aussiep]

1 hour ago, tiocfaidh said:

According to the aforementioned application 06:30-22:00

Thanks for that..

Just looked at SR app on  my Thai phone which is on Global roaming.

Super Rich  (green ) have just updated everything....

now can look at rates at all there branches.

AUD....26.70  in main branch in BKK.

AUD.....26.65 at Swampy...

If open at 6.30am that will be great for me.....

but have to cart it to Pattaya and bank it....at the correct branch.....saving again.....

 

Thanks again......

[tiocfaidh]

Thanks for that..

Just looked at SR app on  my Thai phone which is on Global roaming.

Super Rich  (green ) have just updated everything....

now can look at rates at all there branches.

AUD....26.70  in main branch in BKK.

AUD.....26.65 at Swampy...

If open at 6.30am that will be great for me.....

but have to cart it to Pattaya and bank it....at the correct branch.....saving again.....

 

Thanks again......

Yes. Stupid Thai banking system. Charges if out of the area [emoji21]