11 replies to this topic

[camel418]

Im heading to Thailand in 4 weeks, wow, just 28 more days till I hit Thai ground. Im curious, where do people generally reccomend currency exchange and where is the best rate offered? Do you generally just charge your rooms on credit cards or do you pay in Baht? If I exchange at the airport which I will need to in order to have some Baht on me, how much do you suggest exchanging on arrival. Please share some ideas and insight, thanks.

[slappy11]

You're headed straight to Off Topic oblivion. See you there and will make the appropriate comments :?

[slappy11]

Now this is just me, but I usually try to arrive with about 5,000 baht on me. You can go to the Wells Fargo site online and order currency. They will send it to you via FedEx. I do this just to have some tip/cab money. There are also ATMs at the airport which you can hit upon arrival. Exchanging $'s at the airport is a losing proposition. Generally speaking you get the worst exchange rates at any airport around the world.
My rooms are usually pre-paid via various on-line booking sites. Never had a problem with this once I was there. One thing I do BEFORE I go (and I learned this the hard way) I notify all my Banks, AmEx, etc that I will be traveling in SE Asia for an extended period of time and to flag my account to reflect that. My very first visit many moons ago I found out that when I tried to use my cards for purchases or an ATM, that they had been blocked. With an approximately 13 hour time zone difference it was hell to try and get this straightened out.

Good luck. Hope this helps... and welcome to the Off Topic area...as I predicted

[rxpharm]

I have to disagree with this advice - you get the best exchange rates in Thailand - check the difference in the rates.

From Yahoo currency convert Jan. 18/08 1 USD = 31.10 bid 31.40 ask
From Bangkok Bank website Jan. 18/08 1 USD = 32.68 bid 33.31 ask
Bangkok Bank exchange rates are for in Thailand exchange.
Bid = buy, ask = sell.

Generally exchange rates in airports are poor, but this is not the case in many Asian countries, Singapore, Thailand and Bali airport exchange booths have good reasonable rates.

In Thailand most of the currency exchange booths are operated by major banks, so the rates are quite similar, only varying a bit depending on when the head office sets the rates.

It is best to exchange currency when you arrive at the Suvarnabhumi Airport, you will get better rates than if you did it outside Thailand.

Once you arrive at the airport just exchange a bit to cover your taxi and get some small bills for tips (20 Baht, 100 Baht notes). Probably a few thousand Baht is good enough. Then change currency as your spending demands.

[koykaeng]

Generally exchange rates in airports are poor, but this is not the case in many Asian countries, Singapore, Thailand and Bali airport exchange booths have good reasonable rates.

The rates at Suvarnabhumi Airport are surprisingly competitive, infact possibly as good or better than rates you will see elsewhere in Thailand

Would advise against exchanging currency in your own country unless you are certain you are going to achieve a comparable rate, which is generally very unlikely.

Cheers
Koykaeng

[slappy11]

Guys,
Not suggesting that getting currency before you go is competitive. I just like to arrive with some notes in my pocket in local currency. As I said, just some walking around money. Guess my one bad experience of not being able to get cash for a couple of days taught me to arrive with at least a few baht.

Regarding ATMs, in the past, I used my AmEx for cash advances and was pleasantly surprised that I got favorable rates. However, with the dollar plunging against most currencies, you might be in for a rude awaking when you get your statement (ie. you're over there and think it's 31x1, by the time everything settles is could be considerably worse).

Just something to think about.

[koykaeng]

I just like to arrive with some notes in my pocket in local currency.

At the end of each trip, I normally return to Australia with at least 5000 Baht in Thai currency, which I use to get me started when I return for my next trip.

This seems to work well for me, and allows me to jump straight into a taxi at the airport and not worry about queuing up at exchange booths.

Cheers
Koykaeng

[filipef]

I usually exchange at the airport, on arrival, just enough for taxi and for the first day/night, exchanging later in BKK. When staying in lower Sukhumvit, there were a couple of banks i used to go, around soi 8 or so. Some people told me about superrich, when they say you can find the best deals in bkk. They have a website, where you can look for the rates.
For the hotels, i pay using my credir card, unless it is cheaper to pay in baht (it happens, sometimes)

[koykaeng]

Some people told me about superrich, when they say you can find the best deals in bkk. They have a website, where you can look for the rates.

Here's the website link;

http://www.superrich1965.com/

You need to register to view their currency exchange rates.

Cheers
Koykaeng

[Eddie_016]

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[slappy11]

Edward,
You might want to read the whole page;

Rates are based on Yahoo! Finance and does not reflect the exact currency exchange rates in Bangkok and other Asian countries. For information on the exact buying and selling of major world currencies, which we adhere to, please click here (members login is required) ...

[Automorph]

I typically hit the ATM as soon as I exit the plane to get my cash. I used to get a little bit of local currency prior to leaving on a trip, but have stopped that completely. My bank also provides me with the best exchange rates available, as part of my account package, so that helps too.

I usually carry $200 USD cash, just in the event that I can't get cash at the ATM (which has never happened in many years of global travel). Should that happen, I'd change a little money at the airport to get me to where I'm going and find alternate arrangements.

If I also have some left over currency , I keep it for next tiim (even though I try like hell to go through every baht).

Your mileage may vary