Money saving tips.

Post by **PeteC** » Thu Oct 30, 2008 3:18 pm

In this thread and others, no one has mentioned the advantage of exchanging cash at the local back alley money shops. Have they all gone away, or their rate is now no better than the airport or similar? Pete

Post by **Guess** » Thu Oct 30, 2008 3:40 pm

Pete,

If you look at the difference between buy and sell, there is nothing to be made and a lot to lose. The Bureau de Change booths in London were all found to be money laundering outlets for Al Q'eida. Could be the same here so don't use them.

Another scam they were accused of is the use of "Followers". When you went to change cash they asked for your passport and where you were staying. So they know who you are, and that you have money, and you are not in your room at the time.

Dodgy. dodgy, dodgy, don't bother with them.

Post by **bubbly** » Thu Oct 30, 2008 6:02 pm

Good advice from all and thankyou for that

A lot of it i do already but i'll seriously consider the condom thing!!!!!

Looking at the exchange rate as we speak and and its coming in at 51.5 over here so i guess the airport rate is a lot better.

Post by **JAJA** » Thu Oct 30, 2008 8:16 pm

leave the mrs at home or somehow stop her shopping in bangkok!

Post by **bubbly** » Thu Oct 30, 2008 10:21 pm

leave her in Bangkok!!!!! then have a holiday to remember!!!!

Post by **Guess** » Fri Oct 31, 2008 9:05 am

bubbly wrote:Good advice from all and thankyou for that A lot of it i do already but i'll seriously consider the condom thing!!!!!

Don't forget after washing to re lubricate. Tiger balm is ideal. It is cheap here and readily available.

bubbly wrote: Looking at the exchange rate as we speak and and its coming in at 51.5 over here so i guess the airport rate is a lot better.

All British tourist travel money exchanges are a rip off. Some of them have the cheek to charge a minimum 2.50 plus they skim 10% of the sell rate and add 10% to the buy. I just love there marketing ploy.
"We will not charge commission on any money you return with." No they don't charge you the 2.50 again but they still only give the buy rate which is as much as 20% less.

If you change 1000 pounds in the UK at Heathrow or a high street bank you will get a 2% (min 2.50) charge levied which means you actually only change 980 pounds. At your rate of 51.5 that means 50,470 Baht.

Put the 1,000 into a UK bank and draw out at the ATM and get 57,375 + a charge by your bank that will be no more than 2%. Some banks do not charge.

Big difference eh?

The cheapest way I have found requires a Bank Bangkok account in Thailand. You write a check to yourself and post it to Bank Bangkok in London. They will clear the check and transfer the money up to 6,000 pounds to Thailand all for 15 pounds. The exchange rate is on the day of receipt in Bangkok and at a middle interbank rate which is better than anything you will get privately. It is a service that is really aimed at small business purchasers but they don't care what it's for so long as it ends up in the Thai economy.

This site gives you the current rates and is updated every 2 hours per bank.

bankexchangerates.daytodaydata.net/default.aspx

Post by **johnnyk** » Fri Oct 31, 2008 9:49 am

Guess wrote:
bubbly wrote:Good advice from all and thankyou for that A lot of it i do already but i'll seriously consider the condom thing!!!!!
Don't forget after washing to re lubricate. Tiger balm is ideal. It is cheap here and readily available.
bubbly wrote:

I hear some people like menthol ciggies, too.

Post by **bubbly** » Fri Oct 31, 2008 6:46 pm

Tiger balm!!!! Apparently thats good for haemarroids too

Post by **PeteC** » Sat Nov 01, 2008 7:07 am

Guess wrote:Pete,

If you look at the difference between buy and sell, there is nothing to be made and a lot to lose. The Bureau de Change booths in London were all found to be money laundering outlets for Al Q'eida. Could be the same here so don't use them.

Another scam they were accused of is the use of "Followers". When you went to change cash they asked for your passport and where you were staying. So they know who you are, and that you have money, and you are not in your room at the time.

Dodgy. dodgy, dodgy, don't bother with them.

Things have really changed then. I used to get at least 1 baht per USD better than a bank, no passport or id required, but this was long before Walking Street was Walking Street. I think the woman is still there and caters more to the girls now who end up with a pocket full of foreign currency and don't want to go to a bank. Pete