Currency scamming

[elche 39]

Beware of a dirty little trick pulled by the Kasikorn bank near Tukcom on South Pattaya Road. Once you hand over your currency for exchange, the numbers on the board change quickly and not in your favour. I asked for my currency back before the lady had a chance to do the conversion.

[jacko 8,822]

Beware of a dirty little trick pulled by the Kasikorn bank near Tukcom on South Pattaya Road. Once you hand over your currency for exchange, the numbers on the board change quickly and not in your favour. I asked for my currency back before the lady had a chance to do the conversion.

Is it an electronic display?

[MM 6,562]

Beware of a dirty little trick pulled by the Kasikorn bank near Tukcom on South Pattaya Road. Once you hand over your currency for exchange, the numbers on the board change quickly and not in your favour. I asked for my currency back before the lady had a chance to do the conversion.

The rate can change several times a day at the banks, and all the displays are from a central location.

 

It's not a scam...well, Kasikorn gives generally crappy rates, but that's just their greed, but they aren't scamming as you describe.

[teelack 9,645]

Like MM says this is not a scam. I went to TT this month and decided to check the rate at the exchange across the road. By the time I got back 2 minutes later the rate had gone down. Bugger! Having said that the rates I get in Pattaya are superior to what I can get at home and I also save the at least 1% charge. I have zero complaints other than that the big banks give crap rates compared with the likes of TT.

 

Sent from my GT-I9505 using Tapatalk

[Gary 4,119]

Years ago I brought over a fairly large amount of dollars. I went where I had an account at what was then the Thai Farmers Bank. After an hour or so of carefully examining the dollars they slid back a bunch of bills that were not acceptable. I went back to my favorite bar and was complaining about the dollars that were not acceptable. My then girlfriend offered to take them to a local money changer. Not only did they accept every single bill, they gave a better rate than the bank.

[TheFiend 1,181]

Years ago I brought over a fairly large amount of dollars. I went where I had an account at what was then the Thai Farmers Bank. After an hour or so of carefully examining the dollars they slid back a bunch of bills that were not acceptable. I went back to my favorite bar and was complaining about the dollars that were not acceptable. My then girlfriend offered to take them to a local money changer. Not only did they accept every single bill, they gave a better rate than the bank.

 

I try to check all my notes prior to heading to Thailand as I know Thai banks are very picky over the condition of foreign currency they will accept. They tend to reject notes that have been written on or have tears in.

[ttk 236]

I try to check all my notes prior to heading to Thailand as I know Thai banks are very picky over the condition of foreign currency they will accept. They tend to reject notes that have been written on or have tears in.

I get 100's , new bills (after 2013) no tears, no writting....

[Big_Brian 179]

Years ago I brought over a fairly large amount of dollars. I went where I had an account at what was then the Thai Farmers Bank. After an hour or so of carefully examining the dollars they slid back a bunch of bills that were not acceptable. I went back to my favorite bar and was complaining about the dollars that were not acceptable. My then girlfriend offered to take them to a local money changer. Not only did they accept every single bill, they gave a better rate than the bank.

I had notes rejected a couple of years ago, so next time I checked all notes and brought only clean notes, no tears or writing. The cashier carefully checked them over, accepted and changed all of them. Then wrote on the top 1,000 Baht note before handing it over.

"Why did you do that, you don't take notes with writing?"

"Do"

"Why you do but I cannot do?"

"Thai money"

"Why Thai money OK with writing but English money not OK?"

"Thai money" looking perplexed by this time.

 

I left about then.

 

I do bank transfers now, they're easier on the brain.

[atlas2 4,329]

Impressed:

 

 

Im sure many of you will have visited a delicatessen counter, ordered an amount of cheese and watched in amazement, or at least respect as the owner weighs it in his mind takes a wire to the cheddar, slices off a lump, throws it on the scales and 'bam' exactly the weight you asked for........'Anything else sir?'

 

Well I was at a money exchange in Pattaya early in my time here and the British 'wedge' I was handing over was equivalent to 43,000 baht.

The guy showed me the amount on a little ticket, It agreed with what I'd worked it out beforehand so I nodded. He turns grabs a 100,000 of Thai sausage...Split it with his thumb.....pulled some out and counted to me first time exactly 43 one thousand baht notes.

 

He could see I was impressed! I told him he was a dammed clever fellow.......or words to that effect and that I'd never seen anything like it in my life. I said, 'I supposed handling money all day gives you a feel of sorts.... but this was incredible.'

 

He just shrugged and looked at me modestly as though it was nothing.

 

I was impressed and a week or so later I was relating this story to the wife of a friend of mine who owns a restaurant. She said she could do it as well.

I challenged her to prove it. In her bag was a crisp pile of 100 bt notes she'd just brought back from the bank. She split it with her thumb, flicked at it bit and then divided and dramatically counted out to me 43 one hundred baht notes. I thought 'Fuck me these Thais are clever with money! They can all do it......must be their Chinese blood!'

 

After a while she let on to the poor incredulous 3rd world falang that new bank notes are sequentially numbered.

Edited December 9, 2016 by atlas2

[Bullfrog 2,224]

Impressed:

 

 

Im sure many of you will have visited a delicatessen counter, ordered an amount of cheese and watched in amazement, or at least respect as the owner weighs it in his mind takes a wire to the cheddar, slices off a lump, throws it on the scales and 'bam' exactly the weight you asked for........'Anything else sir?'

 

 

After leaving school and before joining the Army I worked in a Deli and was able to cut cheese or grab a handful of rashers at just the right weight.....but it could have something to do with my thumb on the scales...

[teelack 9,645]

To add to the Atlas story. I was in Bali and the sums of money in the local junk are massive. I watched a money changer count a great wad of cash with one hand and carry on a conversation! I also recall being in a money exchange and and American family in front of me put some dollars down and to their surprise were handed over six million Rupiah.

 

Sent from my GT-I9505 using Tapatalk

[jacko 8,822]

To add to the Atlas story. I was in Bali and the sums of money in the local junk are massive. I watched a money changer count a great wad of cash with one hand and carry on a conversation! I also recall being in a money exchange and and American family in front of me put some dollars down and to their surprise were handed over six million Rupiah.

 

Sent from my GT-I9505 using Tapatalk

Yes, and then his pal distracts you and you walk out with a few less tens of thousands of Rupiah!

[Bullfrog 2,224]

Yes, and then his pal distracts you and you walk out with a few less tens of thousands of Rupiah!

 

Wasn't there a gang of Europeans here in Pattaya at one time that tried to "help people out" at ATMs with the intent of watching the PIN being entered or some such thing

[jacko 8,822]

 

Wasn't there a gang of Europeans here in Pattaya at one time that tried to "help people out" at ATMs with the intent of watching the PIN being entered or some such thing

Yes, they stuck something in the card slot so you had problems, got you to try a few things whereby you used your pin and managed to skim the card at the same time.

[ThingsPattaya 4]

I think banks in general give crappy rates... I always get a decent rate by transferring online via Paypal....first I transfer free from my bank to Paypal and then from UK Paypal account to Thai Paypal and then to my Kasikorn bank which takes 5 days... I convert the pounds to baht in the Thai Paypal and its not far off the current rate displayed on Google..

 

RBS bank gives shocking rates when I check their online calculator...compared to what I get with PP ...RBS gives about 1/4 less than what PP does

 

Hardly any charge for using Paypal as well.... I suppose my method won't work unless you have a Thai bank account though

Edited December 28, 2016 by ThingsPattaya

[jacko 8,822]

I think banks in general give crappy rates... I always get a decent rate by transferring online via Paypal....first I transfer free from my bank to Paypal and then from UK Paypal account to Thai Paypal and then to my Kasikorn bank which takes 5 days... I convert the pounds to baht in the Thai Paypal and its not far off the current rate displayed on Google..

 

RBS bank gives shocking rates when I check their online calculator...compared to what I get with PP ...RBS gives about 1/4 less than what PP does

 

Hardly any charge for using Paypal as well.... I suppose my method won't work unless you have a Thai bank account though

Sounds interesting, particularly for an Expat who surely has a Thai Bank account.

The 5 days delay is a lot and I am surprised Paypal don't charge more.

[MM 6,562]

Sounds interesting, particularly for an Expat who surely has a Thai Bank account.

The 5 days delay is a lot and I am surprised Paypal don't charge more.

Paypal doesn't charge any fee, but they skim about a baht off the current telex exchange rate. I only use them if it's an emergency. Otherwise, I move the paypal money to Bangkok Bank and transfer it using their system.

 

I just checked what the rate for paypal is for USD...35.036583

 

Using a regular wire transfer to Bangkok Bank, the rate would be (at this time), 35.85

[jacko 8,822]

Paypal doesn't charge any fee, but they skim about a baht off the current telex exchange rate. I only use them if it's an emergency. Otherwise, I move the paypal money to Bangkok Bank and transfer it using their system.

 

I just checked what the rate for paypal is for USD...35.036583

 

Using a regular wire transfer to Bangkok Bank, the rate would be (at this time), 35.85

Hmm, slighty misled by the

I convert the pounds to baht in the Thai Paypal and its not far off the current rate displayed on Google..

 

The number I usually see on Yahoo Finance (not Google..oops) looks somewhat better than the BB-TT rate. Currently 43.977 and 43.825.....(for Sterling).

Edited December 29, 2016 by jacko

[Billions 687]

Yes, and then his pal distracts you and you walk out with a few less tens of thousands of Rupiah!

In Indonesia, it's shocking when the money changers don't skim a few bills off the pile after they have counted it out.Truly experts at sleight of hand.

 

They only accept pristine foreign notes but hand over absolutely filthy local ones in return.

[Samsonite 181]

 

Wasn't there a gang of Europeans here in Pattaya at one time that tried to "help people out" at ATMs with the intent of watching the PIN being entered or some such thing

 

The ones who tried that on me were Indians.

[MM 6,562]

Hmm, slighty misled by the

The number I usually see on Yahoo Finance (not Google..oops) looks somewhat better than the BB-TT rate. Currently 43.977 and 43.825.....(for Sterling).

I went by the TT booth exchange and their rate was .01 baht less than the BB-TT rate.

 

I have no idea what your GBP does in terms of exchange spreads etc. It's hard enough to keep track of the USD.

[AussieBeaver 0]

Beware of a dirty little trick pulled by the Kasikorn bank near Tukcom on South Pattaya Road. Once you hand over your currency for exchange, the numbers on the board change quickly and not in your favour. I asked for my currency back before the lady had a chance to do the conversion.

Never exchange at a bank. on 2nd road maybe 200 meters on right side back from south road is a shop which does currency convert. I have always found them the best by far for convert. Shop has an artist doing drawings just inside. If you need to convert a large amount, ask them what is there best rate and they will give you better than on the board. If you do a lot (i did $58,000 USD) for a condo so remember to get the document ??? which validates that you did the conversion. Cant buy condo without it

[tallguy 1,479]

I went by the TT booth exchange and their rate was .01 baht less than the BB-TT rate.

 

I have no idea what your GBP does in terms of exchange spreads etc. It's hard enough to keep track of the USD.

I think TT increased their spread over the holiday period. The Stg rate shown at TT reduced to 43.2 even though it would generally have been around 43.8 if they had maintained their usual spread with the market rate. Now the markets have re-opened the rates have returned to their more typical levels.

[seanss 27]

http://exc.yjpattayaexchange.com/branchrate/pattaya.php

 

you can check their rate many times daily.

they update from around 10.00 a.m. until maybe 6.30 p.m.

and their rates are reasonably good.

[ting_tong 63]

Paypal doesn't charge any fee, but they skim about a baht off the current telex exchange rate. I only use them if it's an emergency. Otherwise, I move the paypal money to Bangkok Bank and transfer it using their system.

 

I just checked what the rate for paypal is for USD...35.036583

 

Using a regular wire transfer to Bangkok Bank, the rate would be (at this time), 35.85

Im planning on taking a crack at a Cambodian ATM, I know paypal takes $4 for any debit card pull, its USD $$$ so no exchange rate....... I'll switch to large bills and exchange them at the Chinese gold shop's "Happy Money" store (udonthani), way better than a bank. I'll post the results later.