Best Exchange Rates?
65 replies to this topic
Posted 2010-11-16 08:08:00
We will have some US dollars which we will need to exchange to Bahts, Can you, please, point me to the place (Bank, Forex) with
best exchange rates in Chiang Mai?
Posted 2010-11-16 11:21:54
S.K. Moneychanger has the best rates in CM. I don't have the address right now, but it is googable.
Posted 2010-11-16 12:20:42
Yep - can't argue with that. Their contact details are:
Sakol Shop S.K. Limited Partnership
73/8 Charoen Prathet Road
Chiang Mai 50100
Tel: 053 818118
Of the banks, Bangkok Bank (the blue one) gives the best rate, and they're everywhere, but I always take the trouble to go to S.K. now when I have large amounts to change.
You can find S.K. not too far from the night bazaar. It's on Charoen Prathet Road a stones throw away from the Guitar Man pub, pretty much opposite the Rasta(?) Bar. Basically coming from the night bazaar along Loi Khro Road, past Guitar Man on the left, where Loi Khro crosses Charoen Prathet Road turn left onto Charoen Prathet Road and it's immediately on your right.
S.K. say you get a (slightly) better rate in the morning, so it's worth going then.
Posted 2010-11-16 14:59:10
Does Sakol Shop S.K. Limited Partnership also give the best rate for Euros?
Posted 2010-11-16 15:33:01
No not oppsite, next door to the Rasta.
Posted 2010-11-16 21:45:59
Thank you so very much!
Do you know their business hours , we arrive on Saturday.
Posted 2010-11-16 22:19:24
I'm afraid I don't have that to hand but I'm reliably informed that they're open Saturdays but not Sundays.
If worse comes to worst Bangkok Bank are open 7 days a week so even if SK are closed you needn't be without baht.
Posted 2010-11-17 00:00:04
Yes I was shocked by the SK money changer price difference compared to the Banks... wish I bothered many years ago. I have always been changing any reasonable sum in BKK at Super Rich... Now SK even JUST beat BKK Super Rich price. SO saves me the trip every few months.
SK Money Changer cannot beat it in CMAI. They seem to make only 1-2% between the buys and sells....banks in CMai make up to 5%. In your homeland it is a joke of probably 20% between buys and sells on many currencies. Independant money changers are the best....SK in CMai----Super Rich in BKK.
Posted 2010-11-17 02:50:37
FYI: "baht" is both singular and plural. There is no "bahts".
Posted 2010-11-17 06:27:07
certainly not in my wallet anyway
Posted 2010-11-17 13:15:38
How come...? (I am not a morning person...)
Posted 2010-11-17 21:02:52
What about baths, see many of them?
Posted 2010-11-18 14:19:56
Yep definately they are the ones I use.
Posted 2010-11-18 16:47:41
Do they have best rates for EURO also?
Posted 2010-11-18 19:02:49
Very informative thread, thanks to those that have participated, I had never heard of the company mentioned and I have been getting lousy rates from SCB down the years and so have all my visitors, thanks to the OP for starting it
Posted 2010-11-19 01:31:35
If you want to change a reasonable amount of money, usually over 1,000 USD or the equivalent in other currencies. Its always worth asking the girl at SK to ask the manager for a rate even better than the one advertised - they'll often give you 50 satangs extra - which is 500 baht on a 1,000 transaction.
Posted 2010-11-23 20:31:13
How much does SK charge for traveler's cheque, do they have an ATM there?
Posted 2010-11-24 05:46:33
Very interesting thread and appreciated.
Just a couple of questions, that is if anyone knows:
Is it possible to send money over directly from a bank account abroad by TT to SK, just like a regular bank or do they only exchange currancies already brought over to Thailand, travellers checks, cash and so on?
Edited by Beetlejuice, 2010-11-24 05:48:18.
Posted 2010-11-24 06:17:53
They don't exchange travelers cheques and I don't think they have an ATM. Its usually a cash for cash transaction.
Posted 2010-11-24 16:05:46
That's just crazy talk, Pedr!!
If the "special" rate is 50 satang better than the "regular" rate, then the regular rate sucks.
This is the rate most people can get on an ATM withdrawal:
And, as has been posted many times already, there's an easy way around the 150 baht fee for most Americans.
If you can find me someplace that will give me 15 satang above the rate quoted on the above link, I'll have more dollars with me than he can exchange.
Posted 2010-11-24 16:53:19
I asked if I could have a better rate than the one shown after Pedr's post last week, I was changing $2000 but I was told the rate is the rate, there is no better rates if you exchange more. It does state that the best rates each day are before 3pm though.That's just crazy talk, Pedr!!
Posted 2010-11-24 16:59:11
I don't understand why the rate would be 50 satang more when exchanging 1,000+ USD. But next time I'll ask for a special rate, see if I can get 500 baht more...
Posted 2010-11-24 22:27:26
Concerning bank exchange rates, I've always gotten better rates from TMB (Thai Military Bank?) than any of the others including Bkk Bank. SCB is always the worst by as much as 9 - 12 satang less. I'm located in Phuket, but I assume the banks' rates are the same all over the country.
Posted 2010-11-24 22:38:29
Um, there ARE no Bahts. Sorry.But point taken .I get very distressed by people who cannot spell Baht, keep writing Bath. I wonder sometimes how you would get on , say, in India asking for Rupiah, or in Indonesia asking for Rupees.Surely, if you are a guest in a country, you should make the effort to learn how to spell the currency. Correctly.
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