Exchange Rates

[essbee]

I am sure most will know this but a new visitor to Thailand would be well advised to change their hard earned cash in Thailand and not in the UK the difference in the exchage rate is around 10%.

[Digger]

but a new visitor to Thailand would be well advised to change their hard earned cash in Thailand and not in the UK the difference in the exchage rate is around 10%

You are spot on on your post sir,Its an odd connundrum in UK,if you are going to buy Euros best place is Marks and Spencers for cash or Travellers cheques.Try to change sterling in Euroland,especially France and the commision charges are extortinate but on the other hand never buy Baht in UK as its far cheaper in Thailand.Always get a slightly better rate in BKK for travellers cheques rather than cash.Reason I am told is that there is not a lot of Baht circulating in UK at any one time as everyone comes home skint having dug deep in the pockets to find 500 baht departure tax.Digger

[STEVE G]

Instead of buying Baht in the UK it can be cheaper sometimes to use your credit/debit card in a Thai ATM. Just take out large amounts at a time as you get charged for each transaction, some machines let you take 25000bt each time.

[pommy]

Get the best rate by taking sterling cash and exchanging it in Thailand.

[dr dave soul monsta]

Instead of buying Baht in the UK it can be cheaper sometimes to use your credit/debit card in a Thai ATM. Just take out large amounts at a time as you get charged for each transaction, some machines let you take 25000bt each time.

depending on which bank you use your ATM card you may withdraw up to 40,000 but I doubt this is a good idea for obvious reasons

[PeteB]

Travellers cheques do attract a slightly better rate than cash in Thailand - but there is a charge when issued.

The best way is using an ATM machine with a Nationwide Flex debit card -

cash machines
As long as you have enough in your account you can withdraw up to GBP 300 in any one day, 24 hours a day from over half a million cash machines in the UK and around the world displaying the VISA symbol. Nationwide will not charge you either at home or abroad.

Exchange is at interbank rate.

Cheers

Peter

[Digger]

[quote="PeteB"]Travellers cheques do attract a slightly better rate than cash in Thailand - but there is a charge when issued.

Quite correct Pete but the 1% charge levied by American Express and all other cheque companies ensures that if you lose your cheques or get them stolen you can get your money back but perhaps not as quickly as the adverts would lead you to believe.This charge is thus an insurance and not really a commision.I have in mind previous threads on this forum of men who have been relieved of their cash by their short time partners.You are dead right ref Nationwide card they are the best for currency conversion abroad.

[oasisdave]

best thing to do is get a nationwide flexaccount debit card
they dont charge for any transactions anywhere in the world.
when i stayed in hua hin for a year saved me loads
dave

[simonrogers1975]

It depends on the amount of money you wish to exchange but you can go to a professional broker. I was looking to do the same. All banks do is exchange money at a capped rate. They then use this rate and charge you a higher amount. I am sure if you went to a broker in the UK directly they would get the best exchange for you. You do need a lot of money though say £50K or Bhat 3.2M

Let me know if you want contact details.

Cheers

Simon

[STEVE G]

Moneycorp offer very good rates on amounts of 5000 pounds upwards. I was thinking of trying them, I don’t know if anyone has any experience with their service?