Phuket Thailand

stevescottcfi · #1 01-02-2005, 14:43

I'll be arriving at 11pm Feb 26. Just wondering if anyone knows whether the currency exchange place is open that late. I'll be going direct to Nana

so I'll need some baht.

repeter · #2 01-02-2005, 14:56

There are 3 bank branches in the airport. The Thai Military Bank is located on the ground floor of Central Block; the Bangkok Bank is located on the 2nd floor of Terminal 2 and the Krung Thai Bank is located on the 2nd floor of Terminal 1.

Banks offer ATMs and currency exchange counters in the Arrival and Departure Halls of Terminal 1, Terminal 2 and the Domestic Passenger Terminal. There are also currency exchange bureaus and currency vending machines in the same areas.

repeter

randyrob · #3 01-02-2005, 15:50

yes the money exchange is open at 11pm just as you enter the departure hall after going through customs

stevescottcfi · #4 01-02-2005, 16:43

Thanks for replies. I won't be using an ATM anyway because I am bringing all cash to spend. I thought I might have to exchange at LAX (Los Angeles) which I think is very expensive. I thought I remembered that the currency exchanges at Don Muong were closed late at night, but hopefuly I'm wrong.

mwr999 · #5 02-02-2005, 00:31

I have never seen the exchange booths closed at DM. I usually arrive on the late flights 11-12 pm from the states (UA via Tokyo) and have never had a problem. There are also automated exchange machines (as repeter said) in the luggage area that you can exchange cash in (same rate as the booths).

dizbuster · #6 02-02-2005, 04:54

Never exchange Thai baht outside of Thailand, you will get very bad rates.

Cheers
Diz

Mac · #7 02-02-2005, 07:48

I am sure I left BKK at 01:35 and the money place was open then.
Mac

Shagrath · #8 02-02-2005, 08:21

Quote:

Originally Posted by dizbusta

Never exchange Thai baht outside of Thailand, you will get very bad rates.
Cheers
Diz

Cash for cash, yes, but if you withdraw from you account you might actually get better rates in your home-country int.terminal.

In Gardemoen (Oslo) they have been kind enough to stuff some atm's with THB at very good rates, and to this day I haven't been able to find a place with better rates in Thailand. Anyway, it's worth checking.

barflyrex · #9 02-02-2005, 12:11

The rate you get at an ozzie airport is a total ripoff.
I toke a mate to melbourne airport just before xmas, those pricks gave you 24baht for a dollar, so I told them to get stuffed

, when he arrived in phuket he got 29.30baht for dollar.
so I say allways wait till ya get there.

As for money changers in BKK airport, Ive never seen them closed.
have fun Barflyrex

ashley · #10 02-02-2005, 12:22

In my experiences the best rates for currency exchange are bringing your ATM card with you and withdrawing money from the banks here. I would not recommend changing money at the airport currency exchange booths as they totally rip you off. Also, most hotels will try and rape you on the rates. Your best bet if you are only going to bring cash and not TChecks or your ATM card is to exchange money at the currency exchange booths in the middle of the tourist spots like Patong beach etc. Just be careful as they sometimes try and short change you while counting out your Baht. I have seen it done before.
ATM card the only way to travel/

Cheers,

Ashley

gregor200 · #11 02-02-2005, 15:06

at the ATM you pay about € 4,00 for withdrawal. With my ATM card I normally withdraw 26.000 Baht (about € 500). Never tried more. Maybe you can go up to 30.000. Then you pay less than 1%, thats better than going shopping with credit card. I don´t know, if the exchange rate on all ATMs is the same.

For money exchange I prefer Farmers Bank and Thai Military bank, think they give the most value for money

Captain · #12 02-02-2005, 15:34

I pay hotels, restaurants and shops with credit card. If they ask 3-5 % for paying by credit card, like Rock Hard or Christin, I pay cash.
I use my Belgian ATM card (maestro, in Thailand Cirrus) everywhere in Thailand to get cash. I think it is cheaper than getting cash out of the ATM with the VISA card. But as there is a limit on witdrawing money out of the ATM to 500€ per week with the ATM card, I asked my bank home to raise this to 1000€ a week. This gives me certainly enough cash money in Thailand.
When I land BKK International, after passing the customs and arriving in the big hall there are a few exchange boots, but they can be closed. But in the same hall you find a ATM (Thai Military?) on your right side where all the tour operators are waiting their clients.

randyrob · #13 02-02-2005, 18:11

Quote:

Originally Posted by ashley

In my experiences the best rates for currency exchange are bringing your ATM card with you and withdrawing money from the banks here. I would not recommend changing money at the airport currency exchange booths as they totally rip you off. Cheers,

Ashley

dont see how you deduce that its a rip off a don muang as the rates are the same as bank rates you get in bangers,pattaya,and phuket.

Nicke · #14 02-02-2005, 20:33

Airports is often not the best place to exchange money, better do that in Patong or Karon instead with better rates. The rates is not same at all exchange booths either, can differ a lot. Wellknown banks are usually the best ones.

I vote for ATM card for withdrawal.

Quote:

Originally Posted by randyrob

dont see how you deduce that its a rip off a don muang as the rates are the same as bank rates you get in bangers,pattaya,and phuket.

dizbuster · #15 03-02-2005, 05:18

I worked in the banking sector for many years and now work in the software industry selling systems to banks !! The booths at the airport which are banks, will give you the same as you would get from a branch - as they are branches themselves. Non-bank exchanges should be treated a little differently and you should make sure of the rate first before exchanging. I have found that using the ATM machines is good, as you don't have to worry about carrying cash around, or leaving large amounts in your room, safe, deposit box etc and the rate ATM's give are very close to that you would get in a branch, but remember the admin fee for the withdrawal, for example GBP2.50 or 2.5% of the transaction amount, whichever is greater. I prefer using ATM's purely for convenience.

However, the best rates to be had, are thsoe obtained from your fellow countrymen who own bars or restaurants over in LOS. It is in their interest to exchange money from time to time, especially if they are going back home for a little while and it never gets recorded in the books (nudge,nudge,wink,wink-say no more !!). I know a bar owner in Pattay who pays me a better rate than any bank, sometimes as much as a baht over the bank rate, as he wants sterling and it's still cheaper than him going to the bank to change up his baht for sterling. This means we are dealing "within the spread" i.e the difference between the buying and selling rates. Finding someone like this is not always easy, but if you meet a fellow countryman of yours, then it's always worth mentioning a you may find someone that is interested.

Cheers
Diz

joeblow · #16 03-02-2005, 19:57

I have never used a money exchange anywhere in the world in all my travels. I guess I am lucky enought to live in the technical age. I always just take my money out of my account via the ATM. If your banking institution is part of the Cirrus or Plus networks then you should have no problem.

Barathea · #17 10-02-2005, 07:46

My card was accidentally snapped in half by a teller in Vienna - got
a new one in London a few days later - so prefer some backup plan.

2 different cards works for me - plus some put away cash

exchange rate australian $1 = 26 baht at moment here - is rate
still 29 baht in Thailand ?

ashley · #18 10-02-2005, 09:53

Quote:

Originally Posted by randyrob

dont see how you deduce that its a rip off a don muang as the rates are the same as bank rates you get in bangers,pattaya,and phuket.

I think that any airport currency exchange is usually a rip off. I live in Japan and I find that any tourist destination which has a lot of Japanese tourists usually has terrible exchange rates at the airport exchange booths. Usually up to 10% different than what the internet shows. That is like when you go to some hotels or restaurants and they have an english menu and a japanese menu. They tend to rip off the Japanese as they are seen as having more money and willing to spend more. I am not Japanese, only live here, but it is crazy how they rip them off.
I guess you would have to live here and travel from here to understand it.
Use you ATM card at the banks. They will not have a service charge. Or carry travellers checks, they get a better exchange rate than cash.
Diz wrote:
I worked in the banking sector for many years and now work in the software industry selling systems to banks !! The booths at the airport which are banks, will give you the same as you would get from a branch - as they are branches themselves.

In my experience this is simply not true. Especially when dealing with Japanese, or NAmerican currency at any of the places I have been to.

Cheers,

Ashley.

Social_Norm · #19 10-02-2005, 17:57

On my last visit, I drew 7000 baht from an ATM on my credit card and 7000 on my bank card. This was on the same day at the same time (within a few seconds) from the same ATM.

A month or so after my return to UK, I got the statements out and compared them. They had a different way of charging. I think the mastercard had a cash handling fee which the cirrus card didn't but the rate on the mastercard was better.

In the end, the mastercard was negligibly better than the cirrus.

The only consideration with the mastercard is that the cash handling fee is the same regardless of the amount so it is better to make fewer and larger withdrawals.

Paul.

steveski · #20 10-02-2005, 18:43

With Aussie banks some convert the local currency Baht to USD and then back to AUD (Aust dollar). AUD can be good against the Baht but not good against USD and you get screwed. Thai DM airport not to bad in my experience, definitely OK for the first night or two as compared to late night hotel or what ever.
Back up of TQ in case of card loss or breakage.
Steveski.

dizbuster · #21 10-02-2005, 18:59

Quote:

Originally Posted by ashley

Diz wrote:
I worked in the banking sector for many years and now work in the software industry selling systems to banks !! The booths at the airport which are banks, will give you the same as you would get from a branch - as they are branches themselves.

In my experience this is simply not true. Especially when dealing with Japanese, or NAmerican currency at any of the places I have been to.

Cheers,

Ashley.

Sounds like you do get "special treatment", as when I have been to Thailand, I have been a little surprised at the rates being given, as they are better than I expected. I usually check the rates posted on their boards when I arrive and maybe change so money and then also check the boards at various Exchange Booths and Banks close to where I am staying.

I have also heard storeis of Japanese tourists getting "special menus" when eating and drinking in central London. It sounds like you guys have a rough time.

dizbuster · #22 10-02-2005, 19:01

Quote:

Originally Posted by ashley

Diz wrote:
I worked in the banking sector for many years and now work in the software industry selling systems to banks !! The booths at the airport which are banks, will give you the same as you would get from a branch - as they are branches themselves.

In my experience this is simply not true. Especially when dealing with Japanese, or NAmerican currency at any of the places I have been to.

Cheers,

Ashley.

Sounds like you do get "special treatment", as when I have been to Thailand, I have been a little surprised at the rates being given, as they are better than I expected. I usually check the rates posted on their boards when I arrive and maybe change some money and then also check the boards at various Exchange Booths and Banks close to where I am staying.

I have also heard stories of Japanese tourists getting "special menus" when eating and drinking in central London. It sounds like you guys have a rough time.

LivinLOS · #23 10-02-2005, 22:16

Quote:

Originally Posted by Social_Norm

On my last visit, I drew 7000 baht from an ATM on my credit card and 7000 on my bank card. This was on the same day at the same time (within a few seconds) from the same ATM.

A month or so after my return to UK, I got the statements out and compared them. They had a different way of charging. I think the mastercard had a cash handling fee which the cirrus card didn't but the rate on the mastercard was better.

In the end, the mastercard was negligibly better than the cirrus.

The only consideration with the mastercard is that the cash handling fee is the same regardless of the amount so it is better to make fewer and larger withdrawals.

Paul.

I think thats normal.. My understanding is that...

When using a credit card I get the interbank rate but a cash advance fee and no cost to do this..

When using a bank card to access an account (debit card) I pay the bank exchange rate + withdrawl fee depending on bank..

1/2 a dozen of one 6 of the other..

dizbuster · #24 11-02-2005, 03:11

Best to read the Terms and Conditions from your Bank or Credit Card company before you go as it does vary.

I find that it is better to withdraw larger amounts, as you pay less in fees overall. A lot of UK banks charge £2.50 or 2½% whichever is the greater.

Using the rate of 73.50baht to 1 pound sterling...

a 10,000baht (GBP136.05) ATM withdrawal fee based on the above figures would be GBP3.40 i.e. 2½% of GBP136.05 is GBP3.40 and higher than GBP2.50.

a 7,000baht (GBP95.24) ATM withdrawal fee based on the above figures would be GBP2.50 i.e. 2½% of GBP95.24 is GBP2.38 and lower than GBP2.50.

a 5,000baht (GBP68.03) ATM withdrawal fee based on the above figures would be GBP2.50 i.e. 2½% of GBP68.03 is GBP1.70 and lower than GBP2.50.

70,000baht from an ATM in a series of withdrawals will cost...
7 x GBP3.40 = GBP23.80 when taking 10,000baht at a time.
10 x GBP2.50 = GBP25.00 when taking 7,000baht at a time.
14 x GBP2.50 = GBP35.00 when taking 5,000baht at a time.

It's not a great difference, but why pay banks more than you have to ?? What profit did RBS make last year ?? GBP4billion+ I seem to remember and a lot of it comes from things like this.

Cheers
Diz