exchange rate

[seeker 0]

I normally go to a liitle place in soi 5 jomtien to change money where the rate is always better then my bank but i dont know any place like this in pattaya, anyone got any suggestions?

Edited September 6, 2009 by seeker

[joekicker 53]

The rates are hardly different. That said, the money changer is ALWAYS a better rate than the bank, although usually it's a matter of satang. There are hundreds of money changers, and unless you're changing many thousands of dollars/pounds, you're only going to waste time trying to window-shop and compare them.

 

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[midlifecrisis 4,030]

I agree with Joe.

 

The real issue is what gives the best exchange rate for what you exchange.

 

Currency

 

TCs (33 baht per transaction)

 

ATM (150 baht per transaction)

 

Joe?

[joekicker 53]

Joe?

 

Not ATM. I'd always go with cash, big bills. But I know people who swear by the TCs. Part of that would be if you can get them free of course.

 

And again, you might want to shop just a bit, even for a few hundred, because shops will also vary their offers for cash and TCs.

 

There's a lot of advantage in ATMs, but "best rates" ain't one of them, eh?

[midlifecrisis 4,030]

Not ATM. I'd always go with cash, big bills. But I know people who swear by the TCs. Part of that would be if you can get them free of course.

 

And again, you might want to shop just a bit, even for a few hundred, because shops will also vary their offers for cash and TCs.

 

There's a lot of advantage in ATMs, but "best rates" ain't one of them, eh?

OK, we are on the same page there!

 

When it comes to cash I only brought maybe a grand and the bulk is in TCs.

 

Now though I have a bank account and can send money to LOS. I did it for retirement visa purposes but I would recommend it to anyone who goes there a lot. Just wire money over!

 

Joe?

[jacko 8,766]

The place upstairs in TOPS says they can beat the regular places.

Haggle a bit and perhaps change a bit more to push their offer up.

[joekicker 53]

Now though I have a bank account and can send money to LOS. I did it for retirement visa purposes but I would recommend it to anyone who goes there a lot. Just wire money over!

 

Joe?

 

Great minds, once again, totally agree. In my circumstances, nothing legal can beat bank transfers, sounds like you are in the same boat.

 

Bear in mind that over time I send more money out of Thailand than in, but I do it both ways. As a resident or VERY frequent visitor to Thailand with all income from outside Thailand, I (would) use bank transfers. Along that line, there's a great thread on this board by Upena about how to let PayPal play. I don't use that, but it is very credible and works for him and others.

 

As a visitor to Thailand, I'd probably use cash UNLESS I got a heck of a deal on TCs from my bank.

 

But if I were just a one- or two-time tourist I'd probably use my ATM for convenience because, you know, the losses using ATM are just a little bit of what you lose everywhere on a once-in-a-lifetime visit to Thailand, what the hell is 150 baht and a less-than-optimal exchange rate compared with the great time it's paying for?

 

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[grs90 49]

I normally use a debit card for the simplicity of it. I also take some cash (sterling) in case I have a problem with the card.

 

If exchanging cash, and if I'm in the area anyway, I use a licensed money changer opposite the bigC on second road. Its on second road, about half a minute's walk from Soi 2, on the left when walking towards Naklua. It typically pays half a baht per pound more than the normal exchange booths. So a whopping 50baht extra per hundred pounds changed. Like I said, its not worth going out of your way for but if you are in the area anyway......... I've only ever used it in the day time so no idea of opening hours.

[4niceight 32]

For up to date rates and comparison of most major banks check this link. The default seems to be in Korean currency but there is a dropdown to the currency of choice. http://bankexchangerates.daytodaydata.net/default.aspx

[ibl 0]

Good places to exchange money is Soi 10 (50 meters from Beach Rd.) and North Pattaya Rd. (50 meter fra the roundabout).

 

They give much better rates than the banks, and higher rates than the moneychanger on top of Tops Supermarket.

[Candinski 0]

The rates are hardly different. That said, the money changer is ALWAYS a better rate than the bank, although usually it's a matter of satang. There are hundreds of money changers, and unless you're changing many thousands of dollars/pounds, you're only going to waste time trying to window-shop and compare them.

 

.

 

Only partial agree to this. Quite a few of the small exchange business run with less overhead cost than they major branches and difference in rate can be some %. With only a few baht more to the dollars you can easily gain a couple of thousand, but agree...still penny.

Personally I shopped around a bit and found a place at the Soi Diana end of LK metro, which so far has had better rates than any of the banks.

[harro1 256]

Only partial agree to this. Quite a few of the small exchange business run with less overhead cost than they major branches and difference in rate can be some %. With only a few baht more to the dollars you can easily gain a couple of thousand, but agree...still penny.

Personally I shopped around a bit and found a place at the Soi Diana end of LK metro, which so far has had better rates than any of the banks.

 

Across from champane gogo.

[bruiser 0]

Across from champane gogo.

 

Totally agree ,(i know theres always a BUT)

Use this place last 2 trips (tip from Alex)

Best rate ive seen but only do cash

just 4 your info

Bruiser

[Big_Brian 179]

Totally agree ,(i know theres always a BUT)

Use this place last 2 trips (tip from Alex)

Best rate ive seen but only do cash

just 4 your info

Bruiser

 

About your but.

 

Only an exchange place that's run by a bank will change TC's now. Most of the little booths aren't and so can only change cash.

[Feileacan 32]

Across from champane gogo.

 

I normally use this place, seems to always have a better rate than the places on Soi Diana or Buckaow

[joekicker 53]

Personally I shopped around a bit and found a place at the Soi Diana end of LK metro, which so far has had better rates than any of the banks.

 

99 per cent of money changers have better rates than the bank. That's what I said way ^^^^ up there near the start.

 

Look. If there was a "best place" to change money, then everyone with really big money would go there and all the banks and all the other money changers wouldn't exist. There ARE different rates by a couple or three satang, and that's about it. Shop if you must, you're just using shagging time, though.

 

.

[Myrrh 0]

I am not sure about the place with the best exchange rate but there is a money changer in Marine Plaza a few doors away from Coyotees a go go which is open 24 hours. Useful if you run out of money at 2.55am and you are keen to bar fine that girl before the bars close.

[Skylar 0]

The best exchange rate is always at the Kodak shop on 2nd Rd betw. Soi 1 and Soi 2 near/across from Big C.

 

It is directly across the street from Subway, 5 doors down from Fatties, 8 doors down from Sabai Dee towards Soi 1.