I have used a Chinese money exchanger in Sathorn Bangkok for the last couple of years and the rate has always been about 1 baht above BKK Bank rate. Makes a lot of diference when you are exchanging large sums to construct a house and to buy land.
Unfortunately the money exchanger I used has now closed, the owners have retired and their only son didnt want to continue the business. These companies tend to operate within the Chinese business community in Bangkok, and are for large sums of money only. ie £10,000 plus.
DOES ANY ONE KNOW OF ANOTHER MONEY EXCHANGER !!!
Regards JOHN
Chinese Money Exchanger
-
- Specialist
- Posts: 123
- Joined: Sun Dec 12, 2004 6:30 pm
- Location: LONDON
- Contact:
- malcolminthemiddle
- Guru
- Posts: 592
- Joined: Sat Mar 05, 2005 1:56 pm
- Location: Here,there and everywhere
We always use Vasu. The used to front up as a Travel agent near Soi 5 Sukhumvit but moved to the World Trade Shopping Center a couple of years ago. They now front up as a Jewellery store and I think from memory are on the 3rd floor.
I think my wife has their 'phone no. so if you can't find them pm me.
I think my wife has their 'phone no. so if you can't find them pm me.
Thank for the advise but some of us are more interested in the rate of exchange rather than leaving a paper trail.[/quote]It is always wise to have a proper paper trail for any large amount of legal funds being brought into Thailand.
In cases such as visas (ie 800K) or where land and property is concerned, it is a prerequisite.
-
- Deceased
- Posts: 3470
- Joined: Fri Jul 22, 2005 3:01 pm
- Location: BangSaphan. Laurasia. Sub thumb
Good advice. After 9/11 and particularly after the discovery of huge money laundering operqation in SE Asia earlier this year it is all the more important.malcolminthemiddle wrote:It is always wise to have a proper paper trail for any large amount of legal funds being brought into Thailand.
In cases such as visas (ie 800K) or where land and property is concerned, it is a prerequisite.
The days of cash smuggling, money laundering and black market exchange profiteering are numbered.
Hopefully the son of the Chinese couple who decided not to continue with the business was well enough informed that you can make plenty of money legally by dealing in money without risk and hassle. To do that you need to be young, fit and prepared to work hard so must of are ruled out.
[color=blue][size=134]Care in the community success story.[/size][/color]
-
- Novice
- Posts: 2
- Joined: Thu Jan 25, 2007 12:45 pm
I really wish somebody had a serious answer to this. I made a down payment on some property 4 months ago and signed an agreement to pay off the remaining ballance in July. However I am now out more than $12,000 (USA) with the stronger baht. I plan on pay it off in April.
Don't mind filing the papers in the USA to carry cash, but to get a 3% higher exchange rate would really be nice.
I will also ask some of my Thai friends here about high dollar money exchange rates.
Don't mind filing the papers in the USA to carry cash, but to get a 3% higher exchange rate would really be nice.
I will also ask some of my Thai friends here about high dollar money exchange rates.
- JimboPSM
- Specialist
- Posts: 159
- Joined: Sun Dec 17, 2006 11:38 pm
- Location: Isle of Man, Udon Thani & HH
Re: Chinese Money Exchanger
Is this in cash? The cash rates for GBP at Bangkok, Kasikorn, Siam Commercial Bank etcare are all approximately 1 Baht worse than TT rates, if this is the case it would be better to TT the money in GBP and have it changed here.lockwood74 wrote:I have used a Chinese money exchanger in Sathorn Bangkok for the last couple of years and the rate has always been about 1 baht above BKK Bank rate. Makes a lot of diference when you are exchanging large sums to construct a house and to buy land.
This may be why he didn’t want to continue (might have seen this coming) - breaking news from The Nation:lockwood74 wrote:Unfortunately the money exchanger I used has now closed, the owners have retired and their only son didnt want to continue the business.
Financial authorities all over the world are getting increasingly tough on black market operations because of their direct link to criminal and terrorist activity.Banks told to monitor "special" customers' transactions
The Bank of Thailand (BOT) has asked financial institutions to take a close look at customers who are politically involved overseas in order to prevent money laundering and the financing of terrorist activities.
The institutions have been told to monitor accounts and transactions by "special" customers and keep records of related documents for at least five years in case a legal probe is needed.
The vigilance is aimed at customers involved in foreign politics, private banking, correspondent banking and with unclear sources of money, according to the BOT.
Also earmarked are those close to any person allegedly related to money laundering and those are in high-risk careers such as jewellery, precious metals, foreign exchange and illegal lending.
The institutions should also pay special attention to complicated, abnormally large or illegal transactions. High-ranking executives should be assigned to approve new account applications by these special customers.
The Nation
-
- Banned
- Posts: 107
- Joined: Sun Mar 25, 2007 11:58 pm
- Location: savannah georgia
changing money.
it takes a lot of guts to change that amount of cash in someones living room or back alley. I would rathar trust the security of a bank , even if it was one baht less. My only experience with changing money through private parties was in the back alleys of beijing where they gave more favorable rates than the banks providing you did not get ripped off or the cops did not bust in on you. Sometimes they would just pretend the cops were coming, cause a panic, and then scoop up the cash and run. so you take your chances. maybe things are different in thailand. This was like 20 years ago when I was young and foolhardy. being taken for a ride in a chinese motorcycle sidecar for questioning was no fun either. Live and learn.