Foreign Exchange Booths in Thailand

[JackScarlett]

Other than using a Thai Bank or having money sent by transfer, does anyone now if the many Foreign Exchange Booths, which are dotted all over the place, will accept a Debit Card to purchase Thai currency.  I ask as they appear to have a better rate than most brokerages in UK or Thai Banks here in Thailand.  If so any idea of the cost of doing such a deal.

 

Thank you

[CharlieH]

Wrong forum.

 

MOVED

[Lamkyong]

if they did i would think they would require upward of extra 3 pc for the honor  of dealing with you

[JamJar]

Since we don't know where you are...how on earth do you expect us to know??

 

The fact is that there is no uniform behaviour. Now, most bank branches will not accept a debit card for cash advances. Some will accept credit cards. The rate should not be an issue if they simply pass on the Visa or Mastercard rate, but some will play tricks on you, including charging a fee of 180 baht for cash advances. I would avoid Siam Commercial Bank in that respect.

So you have to get on to Shank's Pony and find out for yourself by asking at each outlet to find out if they offer the service. They might.

[rak sa_ngop]

When UK Sterling plunged in value the rates from Superich were at variance to the official bank rates. This suggests to me that these non-bank linked exchange companies set their own rates depending on local supply and demand. i.e they buy paper currency and reprice to sell at a price that people are prepared to pay. In the case of Sterling because of the sharp price drop it was obvious that there was a strong demand to buy Sterling so it was priced accordingly (and not linked to international bank rates).

 

So I think they only deal in paper money. What they buy they price to quickly sell. That is how they can offer such narrow spreads.