Actually, citibank rates are very close to the exchange rates I get from exchange booths. And since they don't charge the 200 baht ripp-off rate, there really is no incentive to bring cash in the country.
Actually, citibank rates are very close to the exchange rates I get from exchange booths. And since they don't charge the 200 baht ripp-off rate, there really is no incentive to bring cash in the country.
I don't know, but compared to xe.com rates, I generally get dinged about an extra $60 CAD when I pull 30,000 baht out of a ATM. That's a good 5%, so enough to make you want to punch a ATM screen once in a while.
For those who feel they are getting ripped off by ATM's their anger is misplaced. It is your home bank that is the culprit by charging you excessive fees. Your home bank typically charges an out-of-network fee plus currency exchange fee of 1—5%. In America the big banks are the worst, BofA, Wells Fargo, Chase, Citizens, etc. followed by the credit unions. There are some options available such as Capital360 and Schwab which are feeless (Schwab actually refunds the Thai bank 200 baht charge)and I get the VISA or MC rate as in post #24 which is also the same as the XE rate. I recommend doing your homework before traveling abroad and get an ATM card that doesn't rip you off.
cdnmatt (August 16th, 2016), christianpfc (August 15th, 2016)
I meant to say the VISA rate is fractionally lower than the XE rate but still a good rate and typically better than cash.
It is always a good idea to arrive in Thailand with enough baht in your wallet to get you through a day or so.
..........and that's the way it is.
Why? When have you ever arrived to Thailand (or any foreign country for that matter), and upon falling asleep on your first night thought to yourself, "thank god I picked up some local currency in my home country before coming here"?Originally Posted by neddy3
In the days when I was holidaying in Thailand I always kept enough baht on my person from one trip to the next. Getting baht in my home is cost prohibitive.
How does that work, Matt? I can only withdraw 20.000 baht at a time.when I pull 30,000 baht out of a ATM.
When was the last time you were in Thailand? Started around 6 - 8 months ago I think -- I noticed Bangkok Bank (yellow ATMs) were offering 30,000 withdrawals. Nowadays, Siam, TMB, and others offer 30,000 baht withdrawals too.
I don't know if it's every single one of their ATMs, but play around a bit, and these days it shouldn't be difficult to find ATMs that allow you to withdraw 30,000. From what I see, once Bangkok Bank began offering it, it spread quite quickly. Before, I had to go into the city to a specific Bangkok Bank ATM to withdraw 30,000, whereas now I can do so just from my local market 5 minute walk away.
Nonetheless, it helps alleviate that 200 baht pinch.
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Last edited by scottish-guy; August 15th, 2016 at 16:00.
cdnmatt (August 15th, 2016)
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