I've been trying to get some dollars - just 10 of the things - this morning before I go off on my expedition south to Ranong tonight. Thought it would be easier getting them from a bank in town first and it would save be some dosh as the best black market price I'll get down in Ranong is 600 Baht.
Would Kasikorn or Bangkok Banks give me 10 dollars? No way. "We'll gladly accept your dollars and other foreign currency, but we won't sell any back to you".
Another instance of the Thais wanting their cake and eating it too? I don't know. Anyway, the wife's gone off to try some exchange booths and other banks. It's not a matter of life or death, obviously, but can anyone explain why the banks won't part with foreign currency?
I think I'm off their Xmas card list. I didn't exactly give them an easy time in the two banks.
Rant off.
Having said all that, my wife has just got home and had no problem at Bank of Ayuthaya. Got the dollars for 347 Baht. Saved me 253 Baht. More Changs before we leave tonight
I'm unable to answer your question why Thai banks won't part with foreign currency - however - your comments regarding a 'black market' rate of circa 60 baht for 1 US$ is interesting! That rate is not far away from double the current $ v. baht official exchange rate (I think?)
Whatever, it's a massive improvement!!
Does this suggest it would be wise to bring a certain amount of '$ cash' when visiting Thailand (or re-entering Thailand if you are resident there) and benefit from the generous black market rate?
Do you know if Sterling (and possibly Euros) is also desireable in the black market - or is it US$'s only?
If Sterling is desireable, do you have any idea what the black market would pay for one pound sterling?
Just a thought - whereas Thai banks will not part with foreign currency - is it possible a bank such as HSBC would be prepared to do so? (I believe HSBC have a branch in BKK?)
bradders
"A man who doesn't change his mind will soon have no change to mind!"
Don't know about black market rates in HH or other areas of Thailand, but the reason it's so bad in Ranong is that everyong knows that it costs 10 dollars to get into Burma, so if you havn't got them, you pay. Necessity really.
Don't think there is an HSBC in HH, is there?
I was informed by HSBC in Dubai they only have a branch in Bangkok which I appreciate is not easy for you to get to!
To be certain you could call HSBC and ask them if they have other branches AND if they issue foreign currency. If so you or a friend could draw some dollars the next time you're in BKK.
When I visit HH (hopefully next month) I'l bring some US$ cash with me so you and some others can aquire some for the visa runs.
Is there any preference in denomination - i.e. - 1 - 5 or 10 dollar bills??
bradders
"A man who doesn't change his mind will soon have no change to mind!"
Hi John,
I used to do the same thing but there are dangers.
1. Carrying large sums. A big risk walking down the streets of BKK.
Especially after exchange as the staff could easily notify their mate around the corner.
2. If you ever need to get money out, you need proof that you brought it in.
3. The TT rate is very similar to the money lenders BUT you must send in your currency. NOT Thai Baht.
The only drawback is you have to have a bank account to send the money to.
It is easy to check the exact rate that you will get by checking the Thai Bank internet site.
eg Current Bangkok Bank rate for GBP 68.6525
The advantage of changing cash at the Chinese Exchanges is that you get the T/T rate for cash. This is normally a baht and a bit better than the Bank Cash rate. Also if you have large amounts you can negotiate.
HSBC, like all foreign banks here, are allowed to have one main office in Bangkok and no other retail banking outlets, either in Bangkok or in the provinces. The only exception is if banks merge, like GE Finance just did with Bank Ayud. This could be the reason Bank Ayud happily and easily exchanged for USD. Pete
Governments are instituted among Men, deriving their just powers from the consent of the governed. Source
