Where to get best rate to exchange for Thai Baht

[Punky Hunky]

Hi!

I was wondering what's the best way to convert CDN $ or US $ for Thai Baht? Should I do it in Toronto? At the HK airport since I have a couple of hours there or at the Bangkok airport? Would CDN be better to have or should i exchange it to US $? Thanks everyone!

[rob444]

Hi!

I was wondering what's the best way to convert CDN $ or US $ for Thai Baht? Should I do it in Toronto? At the HK airport since I have a couple of hours there or at the Bangkok airport? Would CDN be better to have or should i exchange it to US $? Thanks everyone!

Get a bank account here that doesnt charge foreign ATM fees... and then just withdrawl money from an ATM in Thailand when you get there. There are tons of ATMs there all over the country, from big cities to small islands... and much safer to withdrawl smaller amounts from ATMs many times, instead of bringing a huge amount of cash with you upfront.

[Madchester]

^

This.

I got 26 bhat to the dollar doing FX at Thomas Cook... plus a service charge in Toronto last fall.

I could easily find 30 bhat to the to dollar anywhere in Thailand. If you're bringing your own cash... exchange it there.

[Cheap]

You can easily exchange either CDN or USD in Thailand. You can exchange money at the airport, the rates are slighly lower than in the city. All Thai ATMs (except AEON) charge a $5 (150THB) fee each time you withdraw money using a foreign card, so take out enough to make it worthwhile.

[kostek]

Wait until you get to the airport and pick an ATM. Bring some u.s. cash-universal currency..

[zombie999]

HSBC ATMs don't charge 150baht fee if you have HSBC account. There are also no fees from HSBC.

Travelers cheques get better rate than cash. If you can get them commission free, get $500 canadian denomination and exchange it at the Bangkok airport. There is fee of ~$1 per cheque.

[rob444]

HSBC ATMs don't charge 150baht fee if you have HSBC account. There are also no fees from HSBC.

Travelers cheques get better rate than cash. If you can get them commission free, get $500 canadian denomination and exchange it at the Bangkok airport. There is fee of ~$1 per cheque.

I don't think you want to be walking around bangkok or other places in Thailand with $500 cash on you! Especially if its your first time there, some places are kinda sketchy.

Don't think you'll find many HSBC ATMs in Thailand either. I can't recall the names but their were 1 or 2 Thai bank ones that were practically everywhere. Each time get out a couple hundred dollars worth of bhat... and the couple dollars fee isn't so much. Of course that depends what you'll be spending your cash on... some activities in Thailand can drain your money pretty quickly :razz:

[padthai]

If you stay in downtown BKK , try these places, good rates.

http://www.superrich.co.th/

http://www.superrichthailand.com/editor/rate.html

[scuba2day]

FYI HSBC Thailand has been sold to Bank of Ayudhya and will be closing their Bangkok branch June 30th.


HSBC ATMs don't charge 150baht fee if you have HSBC account. There are also no fees from HSBC.

Travelers cheques get better rate than cash. If you can get them commission free, get $500 canadian denomination and exchange it at the Bangkok airport. There is fee of ~$1 per cheque.

[zombie999]

I don't think you want to be walking around bangkok or other places in Thailand with $500 cash on you! Especially if its your first time there, some places are kinda sketchy.

I feel safer with $500 cash in Bangkok than I would in Toronto. Bangkok is perfectly safe even at 5am in the morning. There are neighborhoods where you wouldn't want to move in but as a tourist you'll never end up there.

Only places in Thailand where you shouldn't be are in the South.


Don't think you'll find many HSBC ATMs in Thailand either. I can't recall the names but their were 1 or 2 Thai bank ones that were practically everywhere.

That's true....there are only few HSBC ATMs. However, you'll probably end up around those two places at some point. There are other ATMs everywhere.


Each time get out a couple hundred dollars worth of bhat... and the couple dollars fee isn't so much. Of course that depends what you'll be spending your cash on... some activities in Thailand can drain your money pretty quickly :razz:

"...and the couple dollars fee isn't so much..." is actually 150 baht that is $5 plus any fees charged by your bank.

Exchange rate I got from HSBC was actually higher than those on travelers cheques and there were no fees. Thailand is pretty much the only place where it's good to use travelers cheques.

[zombie999]

FYI HSBC Thailand has been sold to Bank of Ayudhya and will be closing their Bangkok branch June 30th.

Oh....thanks for the info!

[rob444]

"...and the couple dollars fee isn't so much..." is actually 150 baht that is $5 plus any fees charged by your bank.

Exchange rate I got from HSBC was actually higher than those on travelers cheques and there were no fees. Thailand is pretty much the only place where it's good to use travelers cheques.

Do you know if that's a newer fee that was introduced? The last time i was there was early 2009, and i recall the Thailand-fees were only around 30-50 baht or so per transaction at many of the atms i used. Perhaps they all went to a new 150 standard since then.

You can get bank accounts here that at least won't charge you the foreign ATM fee on this side.

[wszeto28]

Best thing to do is exchange maybe like $50 CDN to Thai Baht in Canada then exchange the rest in Thailand.

The rates are a lot better in Thailand. I went to Phuket in November and just exchanged near the touristy areas. There will be like one foreign exchange place every 10 stores. You can just walk around and compare rates. FYI you get better rates for USD over CDN currency.

If you want a good spot to exchange in Toronto, I would recommend Bendix (near Adelaide and Bay). They offer a better rate than the staff rate I get for working at a bank.

[Cheap]

Do you know if that's a newer fee that was introduced? The last time i was there was early 2009, and i recall the Thailand-fees were only around 30-50 baht or so per transaction at many of the atms i used. Perhaps they all went to a new 150 standard since then.

You can get bank accounts here that at least won't charge you the foreign ATM fee on this side.

The fee has been around for a couple of years.


Best thing to do is exchange maybe like $50 CDN to Thai Baht in Canada then exchange the rest in Thailand.

The rates are a lot better in Thailand. I went to Phuket in November and just exchanged near the touristy areas. There will be like one foreign exchange place every 10 stores. You can just walk around and compare rates. FYI you get better rates for USD over CDN currency.

If you want a good spot to exchange in Toronto, I would recommend Bendix (near Adelaide and Bay). They offer a better rate than the staff rate I get for working at a bank.

It isn't necessary to have THB when you arrive. There are exchange booths in the BKK baggage hall, so you can change money while you wait for your luggage. Unless you are visiting other countries then CDN money is all you need, you don't need to change your money to US before changing it to THB.

You can check the rates for all Thai banks and Super Rich here: http://bankexchangerates.daytodaydata.net/

As zombie999 says, $500 AMEX traveler checks are a good way to go. You will get a very slightly better rate in the city than you will get at the airport. Don't bother with small denomination travelers checks, the fee is per check regardless of the face value.

[wszeto28]

The fee has been around for a couple of years.



It isn't necessary to have THB when you arrive. There are exchange booths in the BKK baggage hall, so you can change money while you wait for your luggage. Unless you are visiting other countries then CDN money is all you need, you don't need to change your money to US before changing it to THB.

You can check the rates for all Thai banks and Super Rich here: http://bankexchangerates.daytodaydata.net/

As zombie999 says, $500 AMEX traveler checks are a good way to go. You will get a very slightly better rate in the city than you will get at the airport. Don't bother with small denomination travelers checks, the fee is per check regardless of the face value.
It's not necessary but I don't usually travel to a foreign country without at least fare money to get to my hotel.

[Punky Hunky]

Thanks everyone for your suggestions. It's been really helpful!