SubSilver

[soumitss]

Hello. I am spending the winter in Phuket and I have a question about rates. Every booth on the main road shows a slightly different number on the board, and the difference between the worst and the best one I found was enough to matter over a month. On top of that, the rate on the board is not always the rate you get once you hand over the money. Where do you check current rates before going anywhere, and how do you avoid the bait and switch on the counter? I am here until March and I change money roughly once a week, so even a small difference in the rate adds up over the whole stay.

[hydrogenn]

Checking a board on the street is the least reliable method, because the number changes during the day and the posted rate often applies only to large notes or big amounts. Look at published rates online before you go and confirm the final figure before handing anything over. I check the exchange rate in Phuket , Senate Exchange publishes rates per direction and per method. Tip: ask for the exact amount you will receive in baht, in writing or in chat, not the rate. A rate can hide fees, a final number cannot. Also remember that the rate depends on the direction and the delivery method, so the number for a bank transfer and for cash in hand will not be identical. Compare like for like before you decide.