mickey707 Posted March 16, 2008 Report Share Posted March 16, 2008 On my last visit to Thailand i was told it is much better to bring GB pounds with me as you get a far superior exchange rate than changing it to baht at the banks in UK before you come. This was very true and I have no intention of changing all but my taxi fare and first night before travelling, but do you get the Thai rate or the UK rate if you just withdraw cash at the ATM's once you are in Thailand. Link to comment Share on other sites More sharing options...
Mekong Posted March 17, 2008 Report Share Posted March 17, 2008 Do a Search in the Careers / Finance Forum, many a thread on this topic. Basicaly 2 Rates, Offshore Rate, that is when you buy Baht outside of Thailand, and Onshore rate when you buy Baht inside Thailand. Using ATM card in Thailand you will get the Onshore rate but will also incur charges from your home bank. Link to comment Share on other sites More sharing options...
samak Posted March 17, 2008 Report Share Posted March 17, 2008 it is NOT correct that all foreign banks use onshore rates on for ATM transaction in LOS. some use offshore rates and that means you get much less THB (up to over 15%)! also credit cards: some use onshore, some use offshore rate. best bet will be to ask your bank and/or credit card company. Mekong is correct that there have been several threads in the Career and Finance Forum, but they will not help you much as different banks/credit companies have different policies! Link to comment Share on other sites More sharing options...
Mekong Posted March 17, 2008 Report Share Posted March 17, 2008 OK I will requalify my statement, In my experience with the Banks / Credit Cards I use I get the Onshore rate. Happy Now Samak? Link to comment Share on other sites More sharing options...
.. Posted March 17, 2008 Report Share Posted March 17, 2008 Me too Mekong. And my rate is always superior to exchanging cash. And I do not pay fees (but I realize my bank is exceptional). I've posted on this before, so do a search if you have more interest. Cheers, SD Link to comment Share on other sites More sharing options...
simie Posted March 17, 2008 Report Share Posted March 17, 2008 I take it you are in the UK? If so do not change any money in the UK. Bring a few hundred with you in cash which you can change when you get to Bangkok for immediate needs etc. For the rest, before you leave the UK open a Nationwide Flex account and put your holiday funds in that account. You will get the better rate for your ATM withdrawls in Thailand and Nationwide do not charge for foreign withdrawls. Simie. Link to comment Share on other sites More sharing options...
cavanami Posted March 18, 2008 Report Share Posted March 18, 2008 Offshore rate: http://sg.finance.yahoo.com/currency 31.4000 USD Onshore rate: http://www.bangkokbank.com/Bangkok+Bank+Thai/main.htm USD 31.03 Looks like the Offshore rate is better then the Onshore rate Link to comment Share on other sites More sharing options...
CTO Posted March 18, 2008 Report Share Posted March 18, 2008 One man's off shore is another's on shore Link to comment Share on other sites More sharing options...
MooNoi Posted March 18, 2008 Report Share Posted March 18, 2008 Sure?? Link to comment Share on other sites More sharing options...
wonderlust Posted March 18, 2008 Report Share Posted March 18, 2008 There is no offshore/onshore rates any more. The exchange controls were lifted weeks ago. Keep up. Link to comment Share on other sites More sharing options...
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