Currency Exchange in Udon?

[kennyguk]

I am finally in Udon next Saturday.

I am wondering what to do with getting some British Sterling changed up, I know I will not get a great rate locally in the High Street so I am wondering if I should:

A) Change up at Heathrow Airport
B) Change up at Bangkok
C) Try and find somewhere in Udon to change up

Is the rate likely to better if I do it in Udon? and if so are there many places offering currency?

[semperfiguy]

Kennyguk, your best rate is going to be here in Thailand. When you arrive in Bangkok, I suggest that you change a very small amount at one of many currency exchange booths on the way to the baggage claim. You'll have plenty of time, and the rates are the same at all booths; however, the rate is low compared to similar booths at the Udon Thani Airport. Your best rate is going to come from one of the many banks in the Udon area. Just walk into any bank with your passport and currency and you'll see the daily rate posted on the wall. Check out this website and you will see the best daily rate at all the local banks. The rate is definitely better at one bank as apposed to another, and it varies from day to day. Check out this site: http://bankexchangerates.daytodaydata.net/default.aspx

All the best!

[BobHelm]

As semperfiguy says a small amount just to tied you over for a few days once you get to Udon - so no pressure to get to a bank for a day or so...
Could do that in the UK before you came but would think you would get a very poor rate.
One of the booths in transit around BKK airport is probably the best option....
Then (again as semperfiguy says) take your pick of Banks. There are a couple or 3 in the Complex so that might be the easiest way just to go & have a look at day rates. Depends where you are staying in Udon really...

[jonny_w]

F' the airport idea! thats the worst place to change money, they know they got you.
ATM pull somewhere nearby or at the airport after you land for some cash

Ahead of time, get changed to travelers checks, then get that changed at a bank with your passport in hand

I saw on this board someone mention "super rich" a mafia run money laundering opperation in BKK that gave the rate shown on the internet for exchange. GBP, USD, AUD...ect
Its a legitimate business and you have to walk in with a was of bills, I went there and did just like I read.

board search AON tesco too, no 150 baht fee

[kennyguk]

last year I got some changed up at the post office locally and then changed some at Swapy airport, got a slightly better rate at Swampy...slightly.

My teacher friend talks with misty eyes about the days when there was well over 60bht to every GBP.

[Frans]

I know, A little outside of topic, But ...

Iff you stay some days in BKK as manny do before ariving in Udon, Try the money changer Vasu on Sekhumvit Soi 7/1 in front of Subway restaurant. Tel: 02225-1859 (The come to the hotel in person, When the amount is a little risky to carry around )

Or:

http://www.superrich1965.com/Eng/location.aspx

It could be even interested to jump in town when you have to wait "5 hours or longer" fore the conection flight to Udon. Most of the adresses are easy to reach with the new train line and Sky train connections, From&to the airport. And the pay you around + 1฿ more against the normal banking exchange rate. The extra cost 2 way, Train with conection to the skytrain about 250 ฿ (depend distance) And you learn something about the public transport in BKK and a glimp from the city :-"

Bring the highest availble curency banknotes from your country with (example, The exchange rate wil be higher fore a 500€ then fore a 50€ note!)

To have a idea about what the bank and money changers give you.

http://bankexchangerates.daytodaydata.net/default.aspx

In case you need to use a ATM try to find a AEON machine, The don't charge you a 150฿ fee. (Or it have to be changed?)

AEON Spot Udonthani
119/13-14 Nityo Rd, Mak-khaeng, Muang Udonthani 41000

http://www.aeon.co.th/lang/en/menu/Serv ... st#soutput

Scroll down to see location Udon.

Frans.

[UdonExpat]

AEON does charge the 150 baht fee, they just don't disclose it. I've used them and my bank statement show the 150 baht fee. Usually around $4.95.

Some of the gold shops in Udon will give a slightly better currency exchange rate than the banks.

[semperfiguy]

AEON does charge the 150 baht fee, they just don't disclose it. I've used them and my bank statement show the 150 baht fee. Usually around $4.95.

Some of the gold shops in Udon will give a slightly better currency exchange rate than the banks.

Udonexpat, I wonder if that is another kind of fee from your bank. I had a notice from my US bank that effective Feb1st this year they would be charging me a 1% fee on all ATM withdrawals overseas. This is an international transaction fee that Visa imposes, but in times past my bank waived that fee as a courtesy to it's customers. They will no longer be doing that. So now, once I use my ATM card I look on my bank statement and I see the dollar withdrawal for the transaction, then I see a separate transaction for the 1% fee that was debited from my account. I have never seen a 150 Baht transaction fee from AEON; however, that doesn't mean that they don't hide the fee in a lower exhange rate. But, so far I even get a better exchange rate through AEON that any other source.

[jonny_w]

I think it was -68 satang per baht/ USD @ aeon...........what they get you for?

I dont see any fees on my online accounts transaction w/ aeon

[UdonExpat]

Well, the fee amount varies by a few cents. It could be a 1% fee based on the $ withdrawal or it could be 150 baht converted to $.

In any case, I've gone back to transferring money through Bangkok Bank.

[charliemike11]

I was at Heathrow airport Thursday Night Ex rate was 43 baht there, Thought sod that, came to BKK Swampy Ex rate was 49.6 on Friday night Much better!!

Went to an ATM earlier on today took out 10,000 baht total cost 216 pounds (purple Bank) In Ampher Phen cant remember the name so BKK was better than an ATM that really cost me an extra 16 quid!!
Not much choice though on a Sunday is there?

[red67]

Airports are renowned for giving bad exchange rates

[2000VIPERGTS]

When you give them your passport, where is the transaction recorded? Is the Thai or US government told of every transsaction? Can i exchange $30K US and then another #30K US cash and no problems or do people start getting tipped off? What are the limits of exchange beofre I encounter problems? I have done 9K US cash already in banks and mor ethan that on visits, but broken up at different banks. Learning the ropes and thanks in advance. Gary

[semperfiguy]

When you give them your passport, where is the transaction recorded? Is the Thai or US government told of every transsaction? Can i exchange $30K US and then another #30K US cash and no problems or do people start getting tipped off? What are the limits of exchange beofre I encounter problems? I have done 9K US cash already in banks and mor ethan that on visits, but broken up at different banks. Learning the ropes and thanks in advance. Gary

Gary, I wouldn't be walking around Udon with that kind of cash. The local robbers have their snitches and stalkers inside the banks looking for an unsuspecting farang with a big wad of money. Best is to open a Thai Baht savings account at one of the local banks (Krung Thai Bank is easy and they'll give you their SWIFT code and wire-transfer instructions on a print-out), then have the money wire-transferred over. If you don't already have an account here, then go to your bank before you leave and sign off on the transfer and ask them to hold it until they hear back from you. Come to Udon, open the local account, then call or email your banker and tell him to "let her rip". The exchange will take place in the local bank automatically and you'll get the TT rate which is the best that you can get anywhere. Check the rates out here:

http://bankexchangerates.daytodaydata.net/default.aspx

I've done 15T at a time with no problems. Haven't figured out yet what the limits are to avoid suspicion of money laundering, but I will be asking soon. To my knowledge there's no red flag that goes up in the States if you transfer money out in those amounts, but best just to ask your local bank. I just sent an email to my banker asking those same questions and I'm waiting for an answerback.

[BobHelm]

For the UK banks it is £10,000 in any single transaction that has to be reported.
That does not mean anything will/can be done about it, just it has to be reported.
That is also the maximum amount of cash (including travellers cheques) that you are suppose to carry out of the country without declaring it.
There is also (I think it could be the equivalent of 9,000 euros, but am not 100% sure) a limit to how much cash/travellers cheques that you can bring into Thailand without declaring it.....I imagine that is a route to avoid going down at all costs!!

[BillaRickaDickay]

According to H M Revenue and Customs website, 10,000 Euro's or above (or the Sterling equivalent) must be declared when leaving the UK to travel outside of the EU.

[STUMPY]

Same in Os $10,000 + has to be reported to aunty Julia ( gov.).

[2000VIPERGTS]

When you give them your passport, where is the transaction recorded? Is the Thai or US government told of every transsaction? Can i exchange $30K US and then another #30K US cash and no problems or do people start getting tipped off? What are the limits of exchange beofre I encounter problems? I have done 9K US cash already in banks and mor ethan that on visits, but broken up at different banks. Learning the ropes and thanks in advance. Gary

Gary, I wouldn't be walking around Udon with that kind of cash. The local robbers have their snitches and stalkers inside the banks looking for an unsuspecting farang with a big wad of money. Best is to open a Thai Baht savings account at one of the local banks (Krung Thai Bank is easy and they'll give you their SWIFT code and wire-transfer instructions on a print-out), then have the money wire-transferred over. If you don't already have an account here, then go to your bank before you leave and sign off on the transfer and ask them to hold it until they hear back from you. Come to Udon, open the local account, then call or email your banker and tell him to "let her rip". The exchange will take place in the local bank automatically and you'll get the TT rate which is the best that you can get anywhere. Check the rates out here:

http://bankexchangerates.daytodaydata.net/default.aspx

I've done 15T at a time with no problems. Haven't figured out yet what the limits are to avoid suspicion of money laundering, but I will be asking soon. To my knowledge there's no red flag that goes up in the States if you transfer money out in those amounts, but best just to ask your local bank. I just sent an email to my banker asking those same questions and I'm waiting for an answerback.

Thanks for the heads up, my response would be the thais would need to bring friends. I am 42, but a well honed fighter and in terrific shape and scrap with the best. The fact that I look like I can curl the average Thai guy also keeps the buggers away, but as a jarhead you can see who will be ready and not as you look into their eyes so this far 15 countries and in rough areas nothing as yet. Even the Presidential Rolex on my wrist doesn't get my robbed as yet, but I know eventually it will be attempted I have a business and cash cash is individual, I can't type beyond that, but suffice to say that I am asking about undocumented exchanges, for research of course Learning the ways of Thailand more and more, but like reading more than posting thus far.

[semperfiguy]

Thanks for the heads up, my response would be the thais would need to bring friends. I am 42, but a well honed fighter and in terrific shape and scrap with the best. The fact that I look like I can curl the average Thai guy also keeps the buggers away, but as a jarhead you can see who will be ready and not as you look into their eyes so this far 15 countries and in rough areas nothing as yet. Even the Presidential Rolex on my wrist doesn't get my robbed as yet, but I know eventually it will be attempted I have a business and cash cash is individual, I can't type beyond that, but suffice to say that I am asking about undocumented exchanges, for research of course Learning the ways of Thailand more and more, but like reading more than posting thus far.[/quote]

Gary, you remind me too much of myself...full of piss and vinegar at your age, traveled 19 countries and ran with the best of them. I was a Dr. Jekyll and Mr. Hyde personality...by day running with the big dogs doing multi-million dollar deals, but by night I practically lived in the seedy red light districts around Asia. Wore the Rolex Presidential Day/Date everywhere I went, but oddly enough never got tapped for it overseas; however, lost two to black prostitutes down in Houston, TX. So take it from a guy whose been there and done that...sooner or later being too flashy will catch up with you, and you may not be as blessed as I was to come away from it with my life. The bad boys and girls are much worse now than they were in the late '70's when I started high rolling. They're much bolder and cold hearted, and life is very cheap in this part of the world now. I learned a great lesson back in the early '80's from one of the wealthiest Chinese businessmen in the Philippines. I picked him up at his office and escorted him to my chauffeur driven mercedes wearing my fancy watch, $500 lizzard skin shoes and a $1500 brief case made from 8 baby alligators. He told me what a fool I was for being so ostentatious, and he encouraged me to tone it down a little bit if I wanted to survive my stint in Manila. When I dropped him back off in front of his office he told me that the truly wealthy people have no need to flaunt it...as he got into his older model Toyota Celica and drove off. Funny how I couldn't figure that one out on my own, but I was blinded by a real need to impress people to hide my own insecurities. Three broken marriages and a huge business failure later I finally got my head out of the clouds. So, take a hint as I did from individual Solomon, the wisest and weathiest man who has ever lived:

Proverbs 16:17-19
17 The highway of the upright avoids evil;
those who guard their ways preserve their lives.

18 Pride goes before destruction,
a haughty spirit before a fall.

19 Better to be lowly in spirit along with the oppressed
than to share plunder with the proud.

Not being critical my friend...just want to help! God Bless and stay safe.

[papaguido]

When you give them your passport, where is the transaction recorded? Is the Thai or US government told of every transsaction? Can i exchange $30K US and then another #30K US cash and no problems or do people start getting tipped off? What are the limits of exchange beofre I encounter problems? I have done 9K US cash already in banks and mor ethan that on visits, but broken up at different banks. Learning the ropes and thanks in advance. Gary

Not sure if the following is related in your case, but may (or not) be worth reading or know for future reference.

The U.S. government – under a new law incorporated in the Hiring Incentives to Restore Employment Act signed by President Barack Obama on 18 March 2010 – is demanding that international financial institutions reveal which of their clients are U.S. citizens with accounts of more than $50,000. Foreign banks are, in effect, being asked to act as the international enforcement arms of the Internal Revenue Service. Those banks that don't comply will be subject to a 30% withholding tax on all payments made to them in the U.S. Many banks and wealth managers have decided it is far easier to politely show their U.S. clients the door.

http://online.wsj.com/article/SB1000142 ... #printMode