Currency exchange

[berlinmichael]

My wife has a 500 euro banknote from our time living in Europe. Apparently she's been all round Hua Hin trying to change it to Thai baht without success. Does anyone know a place ? TIA

[Big Boy]

Do they give any reason for not exchanging?

[berlinmichael]

Not that I'm aware of......I think it's just too big a denomination but none of the usual banks or exchange outlets will take it....

[Big Boy]

I asked Mr. Google, and he said

In Thailand, most Euro banknotes are accepted for exchange, with the 50 Euro and 100 Euro notes being the most common. Larger denominations, such as the 200 Euro and 500 Euro notes, can also be exchanged, but they may face more scrutiny and need to be in excellent condition.

[STEVE G]

^500 euro notes must be pretty rare because I've been working in Europe since the inception of the Euro and I've never seen one!

[Dannie Boy]

^500 euro notes must be pretty rare because I've been working in Europe since the inception of the Euro and I've never seen one!

Not everywhere in the UK are happy to take a £50 note, so being about 9 times as much, a 500 Euro note would be a huge amount to lose if it was a forgery!!

[pharvey]

^500 euro notes must be pretty rare because I've been working in Europe since the inception of the Euro and I've never seen one!

Not everywhere in the UK are happy to take a £50 note, so being about 9 times as much, a 500 Euro note would be a huge amount to lose if it was a forgery!!

Indeed. The LHG had one some years back which she struggled to exchange. I ended up taking it to Spain when working on a project there and paid for some goods in a Supermarket, no questions asked! Simply exchanged the smaller notes when I returned to the UK.

Always found it bizarre having such a large note in circulation, though I believe there is (or was) a 1,000 Euro Note. I would assume there's a high risk of forgery....

Sorry, can't be of any help with regards to exchanging in HH/Thailand.

[2dandan]

500 euro banknotes became drug dealers and money launderers dream. The EU stopped issuing them in 2019 although they remain legal tender in the EU.

[pharvey]

I asked Mr. Google, and he said

In Thailand, most Euro banknotes are accepted for exchange, with the 50 Euro and 100 Euro notes being the most common. Larger denominations, such as the 200 Euro and 500 Euro notes, can also be exchanged, but they may face more scrutiny and need to be in excellent condition.

Going back a fair few years when I was living in China, it was always useful to have UK/US banknotes for exchange - the downside being they had to be in PERFECT condition - no ink marks, zero tears/damage and very limited evidence of "folding". I would normally take (pristine) £20 or USD50 notes back with me. Much will have changed of course, but as above it's obviously an issue in Thailand to a certain degree.

[Big Boy]

No, it is still an issue to a large degree. Several times recently friends have asked me if I know somebody going back to the UK who might take some very slightly soiled UK bank notes with them to exchange for crispy new notes. I've always managed to find somebody so far.

The exchange services here would not touch the perfectly good money.

[GeeLuv]

When I travel to Thailand from the US I always make sure my $100 notes have no pen marks, stamps and tears. I just make a trip to the bank in US, ask the teller for new bills because I’m traveling overseas. Takes a little extra time but never had a problem. In Thailand I have had issues at the non-bank currency exchanges (superrich or similar) denying notes in non perfect condition. If any get denied I just use them in Vietnam, Vietnamese will accept any condition usd. Maybe they are denying the note because it is not in pristine condition. I think your best bet is to try to find someone going back to the Europe.

[berlinmichael]

Thanks for all the responses.
My wife has a Thai girl friend living and working in Ireland who says that shops and banks in Ireland will no longer accept 500 euro bank notes. Looks like we'll have to frame it and hang it on the wall!!

[Big Boy]

I'd expect European banks would still take them - don't give up too soon

[STEVE G]

^ Yes:

“The €500 banknote, like the other denominations of euro banknotes, will always retain its value and can be exchanged at the national central banks of the Eurosystem for an unlimited period of time.“
https://www.ecb.europa.eu/press/pr/date ... 04.en.html

[Bubba1]

The bigger exchanges in Bangkok such as Superrich will take the €500 Euro notes.