Where should I go to get Thai Baht at a good price?

Question

I am going to Thailand from LA for five weeks and want to know a good strategy for getting a good exchange rate. I don't need to find the absolute best rate in town, but I don't want to get hosed if there is a smarter way.

I assume I should get a couple thousand baht before I leave from here... what next?

Also, is it advisable to withdraw using my ATM card. Are machines widely available for US withdrawls in Baht, and what kind of fees should I expect?
Thanks

Answer 1

First off, don't exchange your money for baht in the usa, the exchange rate is about 2.5 baht less outside of thailand then in-country. Best rate your get is bring travelers checks with you and cashing them at one of the many banks in Bangkok, your get the best rate which is about 34.70 baht to the dollar. You can use a ATM over here, however you need to check with your bank on fees for use, but it could always come in handy to have your atm card with you. Machines are all over the country so no problem. The rate of exchange for using an atm is about 34.40 baht to the us dollar

Answer 2

Hi Eric, so many contributions, thought I would throw in a few other ideas and jumble up your mind. Nah, just joking.

You need not change any currency before your departure to Thailand. You need not use any Thai bahts till you step out of the airport terminal. And within the terminal, there are currency exchange booths which give quite good rate than outside Thailand as they favour foreign currencies. Or if you like, there are ATMs that you can use to withdraw bahts from your account. As for the bank rate, check with your bank. If the fees are high, you might want to withdraw less times but higher amounts. Some banks do waive the fees for a few transactions, so see which category your bank falls under. Anyway, through the ATM, you get slightly better exchange rate based on the inter-bank rate for that day. This is with no middleman so will always be the best rate you can get. Your bank fees is what may lower the rate. :)

During your stay, best to use your ATM, as you need not lug too much cash around with you and all the cities have ATMs practically around every street corner.So you need not worry about not being able to find one.

Have fun in Thailand.

Answer 3

Everyone's suggestions are good.

I was not aware of Super Rich exchanging money. Nor the UOB being the main exchange. I thank you for that info.

Don't get any baht in US, you can lose 2-3 baht per dollar in the exchange. The exchangers seem to charge up to 10 percent for the service. i.e. If the rate in Thailand is 34.40 per dollar you will get 31.00 in US.

The one thing I think all forgot is that you get a slightly better rate for exchanging 50's and 100's than 20's. Also make sure the bills are new or nearly new and NOT torn. They will not take them. We so readily use torn bills here don't think of it when taking them abroad.

I usually exchange it at the airport. All the exchange booths have the same rate and it usually is reasonable and usually the best rate without going around to other places. I like convenience and a few satang difference is not a big deal.

If you stay in hotel in Bangkok don't exchange it there unless you have to. I might get change for a 1,000 baht note at the hotel but, that is it. The currency exchange booths at MBK center, a mall in downtown Bangkok usually has similar rates as at the airport. Or you can go to the Super Rich and exchange.

Good luck and have a good time.

Answer 4

Similar to what nowhereman said.

Just come over here and exchange it here - easy, good rates and very convenient. There are exchange places everywhere in Bangkok. Outside Bangkok, you can always go to a bank. DO NOT exchange at the hotels.

ATMs are also everywhere here. The country is NOT as "backwards" as people imagine. BKK is rather a modern bustling city. Check with your card provider regarding fees, but generally if you withdraw a substantial amount each transaction, it is negligible.

A couple of thousand baht in your wallet as you arrive is a good idea, but DO get some small change included as well(100 and 50 baht notes is good). Taxi drivers hate it when you arrive at your hotel for 150 Baht fare and you pull pull out 1000 baht note!

Have a great stay in Thailand

Answer 5

The going rate for a Thai massage and or a foot/leg massage is about 250 baht. Many places are offering 200 baht. However rates go up from there. Typical rates in hotels are around 500 baht and up. In the tourist areas there is a lot of competition so walk down the street first before deciding.

Answer 6

I have wonderful news. Thai banks offer excellent exchange rates. They are standardised so wherever you change, be it the airport or downtown Bangkok, the rates are the same.
So, don't change any Dollars into Baht until you get here. For changing dollar notes into Baht, you lose 1%. That's good.


Regarding using your American ATM card, you certainly can. However, the exchange rates and charges will depend on the policy of your American bank. I'm British and they screw me for 5% if I withdraw cash from my British account from abroad. So, you need to enquire at your American bank.

Answer 7

THE best place to exchange money in Bangkok is a place called Super Rich (Thailand), 45-45/1 Rajdamri Rd., Patumwan, Bangkok, 10330 02-254-4444, 02-253-5559,
There are two other "Super Rich" money exchangers in the area who have copied the name to try and lure customers, the one above is the best, although the others aren't too bad. You will get from 1 1/2% to 2 % (or more) better rates than you will get at a bank. This is where the Thais, and people that know come to change money, I live in BKK and wouldn't exchange money anywhere else.

Answer 8

Many of the gold shops in Bangkok will offer a favorable exchange rate as compared with the airport. Exchanging any cash in the US is foolish; the exchange offered in the US is a plain rip-off. When you arrrive at the Bangkok airport you can change some immediate cash and check the rates before going into town.

Answer 9

to get the best rates without hassles or receiving counterfeit money using atms is the best the exchange rates are the official rates for that day and the fees are minimal the cirrus maestro cards have cheaper fees then visa there are atms everywhere in thailand have a good holiday. if you are going for 5 weeks you will have to do a visa run to burma or cambodia thai visas are only good for 30 days

Answer 10

Super Rich Thailand Exchange Money