My wife and I will be traveling to Thailand for the first time in January and were wondering where the best places were in Bangkok to change money. From what we have gleaned so far, we will probably be traveling with AA travelers' cheques in $100US denominations. Thanks.
#1 ckcrane has been a member since 27/6/2007. Posts: 1
I have no idea about travellers cheques. I suppose any big hotel can change them. Or if you turn up with US$ (cash) you will get a good / fair exchange rate at any large Bank in Bangkok.
Added to that - Thailand has many ATMs so you can just get money out of the hole in the wall - but you'll probably be charged a small fee for that from your home bank.
Thailand can be a very cheap place to travel around in, so you won't need huge amounts of money - so you can probably carry what you need. I have never heard of a Westerner getting mugged in Thailand (maybe it has happened - but probably as likely as winning the lottery), and added to that you can get 20 000 Baht out of an ATM at a time. So maybe the travellers cheques aren't necessary.
But anyway - banks in Thailand give the best exchange rate (the official exchange rate).
#2 paul123456789 has been a member since 10/7/2007. Posts: 15
TCs are fine - but to cash them you need to have your Passport (even though technically you are suppose to have your passport on you at all times I only take a photocopy out of the hotel)and you have to do the exchange during bank hours (many hotels will exchange TC but at less than ideal exchange rates often. So some plan ahead is needed to cash TCs. If you bring some cash be sure to only include newer bills (higher exchange rate due to the ease of counterfeiting the old US bills in fact many places will not take old bills - especially the old 100's USD - no ripped or torn bills either especially in Cambodia)
I opt for the ATM approach - a small fee but worth in in convenience. I also always have a few hundred in TCs available and at least one crisp new hundred tucked away in the wallet for emergencies.
#3 drlang946 has been a member since 8/7/2007. Posts: 11
Travellers Cheques are way to much hassle and don't get such a good rate. Bring cash and go to Super Rich near Big C in Pratunam - they offer more than the bank rates and have done for many years now. Very reliable and safe.
#4 Guernseystu has been a member since 10/7/2007. Posts: 108
Actually travellers cheques get a better rate in banks, go for large denominations as there is usually a fee per cheque. No real hassle - there are exchange booths everywhere, especially Bangkok, and they open late.
#5 GussieG has been a member since 9/9/2006. Posts: 24
Apart from Khao San Road area exchange booths are not everywhere and rarely open late. Super Rich offers the best rates in the country and, as has been posted already, ripped and taped notes will not be accepted - not even in the banks. Either cash or using your overseas bank card would be my recommendation.
#6 Guernseystu has been a member since 10/7/2007. Posts: 108
Super Rich in Bangkok offers rates on notes than are usually 25-27 satang higher than banks or exchange booths. In Pattaya the best place is a gold shop/exchange operation in Soi Rungland. Got 31 for US notes on Friday when Superr Rich was at 31.05. That was 20 satang higher than other options locally. Rungland is a few meters east of the 3rd Road, Pattaya Tai intersection on the south side of the street. No passport required and they do not take TCs. The last fee I saw for cashing a TC was 10 baht per check. Insignificant if you have large denomination TCs and the rate is usually a few satang higher than notes.
#7 akentryan has been a member since 6/7/2013. Posts: 1
Siam Exchange near MBK offers rates as good or better than Superrich.
Rates today a tad higher. Photocopy your passport and leave it in your wallet and they will copy it when exchanging money.
#8 LeonardCohen1 has been a member since 24/7/2012. Posts: 2,148
"Thailand has many ATMs so you can just get money out of the hole in the wall - but you'll probably be charged a small fee for that from your home bank"
Actually you will be charged a fee in Thailand as well - 150 baht plus whatever your home bank charges which may be anything from $3-10. It's best to carry cash for 2 weeks and have cards as backup.
#9 LeonardCohen1 has been a member since 24/7/2012. Posts: 2,148
The initial post was from 2007, back before the 150 baht ATM fee was introduced. But even with that fee, I think ATMs might still be a better option than TC's because of a slightly better exchange rate and the per check fee most foreign exchange booths charge. Does anyone know what that per check charge is these days?
last time i used Tc was last year the fee was between 30-50 baht per cheque , if your are in Bkk there are many many boothes on the streets where theses can be changed, and also most of the banks will also change these for you , although if you are out side of the tourist areas this may take a little longer as most of the Banks have never done this before, i still always carry some Tcs with me just for back up in case i loose my ATM card ,
i always carry a few TCs with me as back up too (lost ATM card, network down, power outage, etc.), but haven't had to chang one in Thailand in over a decade. that 30 to 50 baht per check fee can add up pretty quick. thanks for the info, boxee. regards.