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Currency Exchange

Durban...
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Currency Exchange

Hi All,

I have friend who is planning a trip to go to Thailand in November and is debating on either taking USD and converting it into cash that side or getting a cash passport from her bank (FNB) or using my her South African Cheque card (FNB).

She has read really bad feedback about using the cashpassort card as well as your normal cheque card but these were dated back in 2011... has anyone used these recently and what are the fees like?.... or perhaps its just easier to change currency in Dubai (stop over for 7 hours each way) and at her hotel in Phuket?

Thanks!

3 replies to this topic
Berlin/Bangkok
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for Bangkok, Berlin, Thailand
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1. Re: Currency Exchange

Like with other low-demand currencies, it’s most probably advantageous for you to exchange your rand for US dollars in South Africa, and then trade the greenbacks for Thai baht in Thailand. It may seem counter-intuitive, but several South African forum partificpants have confirmed this.

As for the cards, I have no idea, but you should know that Thai bank ATMs charge 220 baht per transaction for foreign cards, so she would need a no-fee card or she’ll be paying a huge amount in fees.

And don’t exchange money at hotels. They give the worst exchange rates. There are money changers all over the place in Thailand.

Edited: 03 August 2018, 19:23
Bangkok, Thailand
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2. Re: Currency Exchange

Hi Kimberley,

I cannot really help you with recommendations on the money thing. Just some advice in case your friend decides to bring/change cash:

I always do it at place called “Super Rich”. They have several branches in BKK (check WWW for locations). For reasons unclear to me they give you a better exchange rate, the bigger the bank note is. For example: For ten 20 Euro notes you get less than for one 200 Euro note. I assume the same applies to every other currency.

And I agree on the cash advice: Tell your friend to bring US Dollars or Euro, especially if she plans to visit neighbouring countries. Sometimes, in smaller towns for example, they accept nothing else. And sometimes – believe it or not – banknotes must not be folded or look worn for you may get a significantly lower exchange rate.

About cheques: Seem to be outdated. On my last few trips it became increasingly problematic to find a place that accepts them at all. And if they did I had to pay a hefty fee (it rose from 20 baht in the good old days to nearly 300 baht on my last trip in 2015).

I returned all my traveller’s cheques to the bank that issued them to me some years back. During my years of travelling I found traveller’s cheques very convenient and safe, but I eventually I stopped using them. With other kind of cheques I lack the experience.

Nowadays I always bring cash and a credit card for emergencies.

Hope that helps.

Greetings from Germany! :-)

Berlin/Bangkok
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for Bangkok, Berlin, Thailand
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3. Re: Currency Exchange

Super Rich, which is actually two different companies – orange and green – is only one of several currency exchange specialists which give better rates than banks. Others include Vasu, SIA and ValuPlus. These outfits offer highly competitive rates that track each other closely.

As far as I know, there is no Super Rich in Phuket, but there are other independent money changers.

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