Cash Exchangers & their rip off tricks - what are they ?

We are off on our first trip to Phuket in a couple of weeks and I imagine that some money changers will try and rip you off with their tricks like folding notes in half etc.

Can anyone give me some tips on their other tricks or can you recommend an honest money changer at Patong %26amp; Kata Noi (if there is such a thing in Phuket). I expect the hotels don%26#39;t give as good a return but I suppose should be fairly safe.

Thanks

Cash Exchangers %26amp; their rip off tricks - what are they ?

Common sense prevails so just count your cash in the presence of the exchanger, whether it be on the street (plenty to choose from) or at the hotel.

Pamies, if you%26#39;re heading off on your first trip with the attitude that %26#39;you%26#39;re going to be ripped off%26#39; with tricks etc., I would hope that you let your guard down enough to enjoy your trip - happy holidays!

Cheers

Tiff xxx

Cash Exchangers %26amp; their rip off tricks - what are they ?

Work out roughly in your head how much baht you should get and count out in front of cashier. Few years ago, after many years travelling to Bangkok, I exchanged 100 pounds sterling at Bangkok airport and because my friend was pestering me where to get taxi realised afterwards I only received equiv to 50 pounds. Would like to think an honest mistake but I dont think so.

use the atm.s instead?

Hi Pamies,

The members above all make very good points. I would like to offer the following tips:

1. Make up a little cheat sheet, approx the size of a credit or business card with approx conversions (eg. 1AUD = 28.4 baht, 5 = 142.50, 10 = 284, 25 = 710 etc etc). Once the table is complete both sides, have it laminated. It will come in handy.

2. Always count your money BEFORE you step away from the teller window. If you find that you are 500 baht short then as soon as you mention it, the money is handed over quickly, (happened to me). If you step away then come back later, it will be too late.

Have a great holiday.

Niko

we had no trouble changing money,

-just dont let anyone distract you as they are counting your money that you hand them(this includes your partner)

-or when they change it over,

-dont walk away from the counter until you have counted the money they hand you in front of them and are satisfied.

I took a calculator and did the math before I handed the money over so I knew what I would be getting. It was easy and if they know you are watching they will be less likely to consider doing something.

There are heaps of money exchange booths all over the place. We exchanged our money in various booths at patong and just checked the rates before hand. They didn%26#39;t vary too much.

Interesting note, the exchange rate was better in australia at the airport, as strange as it sounds. We thought it would be better in Thailand so didnt swap money, wished we did now...

Thanks everyone for your help.

In Australia if you are purchasing foreign currency you tend to get a better rate than at the home country of that foreign currency. I use to work in a bank and the theory is that the currency rate is not as good because the bank adds extra cost through the exchange rate to package up the currency and return it to its home country, so if they can sell the foreign currency to Aussies they don%26#39;t have to worry about sending it back to the foreign country. Don%26#39;t know how much this actually happens these days, banks returning foreign currency, but as we all know if a bank can charge you for something they will.

This is another good reason to change any foriegn currency you have left from your holiday, while still

overseas, back into Aussie dollars before you return home.

Whilst I would note the information above my experience has not indicated this to be the case. The last time we flew to Phuket the rate offered by your Travelex%26#39;s and the like at the airport were appalling compared to the price I received once over there. Something like 23 baht to the dollar compared to the 27 once over there.

Having a look today, NAB is offering 25.44 baht to the aussie dollar whilst Siam Commercial Bank says their buy rate for cash is 28.39. Almost 3 baht difference adds up to about $100 worth when exchanging $1000 for baht, so I would do the homework before going.

Is there anywhere online one can check the prices being offered at the airport...I%26#39;d like to know where to get the prices there and how they match up to doing it in Thailand?

poppynyet

First of all, I feel most exchange booths to be as safe and reliable as is reasonably possible, I%26#39;m sure there are instances of trouble but I%26#39;ve never experienced or heard of them, use the normal checks. This is not the stuff people normally gripe about, Bali, for example and on the other hand, rightly requires cautions and this is reflected in their forums.

ATMs are very safe, as they use the official rate you just loose a little on exchange compared to the street rate, and incur a transaction fee, withdraw larger amounts to minimise this.

I have noticed exchange facilities here in Perth are always much worse than the official rate on exchange websites, which itself is a little below the rate on the street in Phuket. Hotel rates are always the worst there, but safe.