I didn't plan to make this video but I thought it would be interesting to
compared the currency exchange rate inside
Thailand and see which place has the best way to exchange currency and since I've been
hearing a lot in the news about how to United Kingdom left the European Union
about a week ago
it will be interesting to see how the British pounds is doing right
now in Thailand as well as other currencies like the US dollars or
Australian dollars
Canadian dollars, you name it so I'm going to head over to Suvarnabhumi
International Airport in Bangkok, Thailand and I'm gonna show you the
rates there and then I'm gonna head over to Pattaya and I'm gonna show you
what's the exchange rate in Pattaya at the end of the video I'm gonna show you
a separate way how to even get better rates than both of these places
so before we start I just want to let you know the exchange rate that you
see in this video was recorded on June 29 2016, the currency is constantly changing
so by the time you're watching this is going to be completely different than
what you see on this video so keep that in mind
I'm heading over to Bangkok this morning
to Suvarnabhumi International Airport to pick up a couple of
friends who is visiting me in Thailand for a couple days and then they're gonna
head over to Laos we decided to
to stick as close to Bangkok as possible because they had to head back to the
airport and then go to Laos we decided to go to Koh Larn which is a small
island just off the coast of Pattaya
I've been to many
airports before and I know that often the prices inside the
airports are a lot higher than what you find inside the city, I am assuming the
exchange rate inside the airports will not be as great as the exchange rate
outside the airport so we'll see
and we'll find out later on ok so the first bank inside the airport we're
going to check out is a bank call Kasikorn Bank
this is bank one so let's call it bank one and feel free to pause the video
anytime you want to check the currency exchange rate, the exchange rates are
separated with three sections the first section is to bank notes
the second T/C that's travelers check and you get a little bit
better rates than bringing cash and the third section is selling, this is
how much the bank is selling for each of these currency, the second bank inside
the airport is the Siam Commercial Bank let's call this bank two
Siam Commercial Bank is one of the more popular bank I've seen this bank pretty much any shopping malls
they're all over the place in Thailand the third and the last bank is called
Islamic Bank of Thailand
let's call this bank three, there are other banks inside the airport but I only
had the chance to check three banks so I think that's pretty much enough for
the comparison bank number one and bank number two
the currency exchange rates are virtually identical
so there's not much to talk about there however bank number three has a slightly
a tiny little bit better rates than bang one and bank two inside the airport
if I was traveling to Thailand and I was landing in Thailand at that Suvarnabhumi Airport
I want to exchange too much of my money inside at that
airport
I would just exchange for what I need for that day, for their taxi, for the food
and that's it
I'm going to wait until I leave the airport and then exchanged my money
elsewhere
so my conclusion is that you're not gonna lose or gain too much money
it doesn't really matter which bank you use inside the airport to exchange your money
the exchange rate are - some of them are virtually the same and it's
so small and tiny that you're not going to really
notice it and it's not going to make a big difference
so it doesn't really matter which bank you use inside the airport but let's see how
much of difference once we leave the airport and go to a place like Pattaya
want to give you the comparison between the two places
so anyway let's head over to Pattaya
so now we're in Pattaya and is around 5 p.m. in the evening but it's still the
same day so it's about eight hours difference from the time I was in the
airport to the time I pick up my friends and came to Pattaya to go to Koh Larn
the currency exchange is going to be a little bit different because of the
hours difference
I got chance to check out three different exchange currency companies in
Pattaya I don't think these are banks
these are I think are private companies inside Pattaya, let's see how much exchange
rate we get inside Pattaya that same day compared to the airport
the first currency exchange company inside Pattaya that we went to
was called TT Currency Exchange
let's call this bank one in Pattaya so you can see the currency exchange right here
the second bank we went to was called Money Exchange and let's call this bank
two and here's the exchange rate right here, again if you need to you can pause it
the last currency exchange company in Pattaya that we
checked out
it's called Currency Exchange and Service let's call this bank three
there are other currency exchange companies in and around Pattaya but
these are the only three exchange companies that I got chance to check out
before we head over to the island so you now you see the exchange rate
inside the airport and now Pattaya again keep in mind these are eight hours
difference so it's not a hundred percent accurate
so this is the graph you can see is a June 29, 2016 compared two banks
bank number three in Bangkok inside the airport
I picked this bank because the number three bank has a slightly better rates than the
first two banks and then I compared it with Pattaya bank three
I picked back three because the other first two banks didn't have the
Canadian currency but basically what I found inside Pattaya with the
three different currency exchange companies that you saw earlier
the difference were pretty much nothing there were virtually identical but I
decided to pick bank three because it has the Canadian currency so what's the
what's the difference between the bank three in Bangkok International Airport vs Pattaya?
difference in percentage for the US dollar was 5.32% more in Pattaya
the euro you get 6% more inside Pattaya, the British pounds you get 6.43% more
in Pattaya, Australian dollar get 7.71% more in Pattaya and Canadian dollar
you get 3.91% more in Pattaya so far you get a little bit
more in Pattaya than the airport now let's see the how much more baht you
would get for the same amount of dollars so for the last column you see here
if you were to exchange $1,000 US dollars
you would get 33,300 baht in Bangkok
International Airport and if you were to go to Pattaya 8 hours later for that same
$1,000 US dollars you would get 30,570 baht, you would get 1,770 baht more
in Pattaya for $1,000 US dollar, for 1,000 Euro you would get
2,190 baht more in Pattaya, the British pound would get you 2,840 baht more in
Pattaya for 1,000 British pounds, for the Australian dollar you would get 2,190
baht more in Pattaya for 1,000 Australian dollars and for the Canadian dollar you
would get 1,025 baht more in Pattaya for 1,000 Canadian dollars
so yeah, there you have it
it looks like the airport do cost more and I'm not surprised
and the reason could be that the banks need to make profits and the
second reason I think is that the airport
the rent and the leasing is pretty expensive inside the airport so they
have higher overhead costs so the customer tends to pay more in the
airports because the higher overhead but Pattaya seems like you get a
better deal
but the thing is that, ok so Pattaya may have better deals but would you drive to
Pattaya just to get better rates? not everyone gonna go to Pattaya and the
reason I went to Pattaya this time is because a bunch of people came to visit me
at the beginning of the video I said you can find better rates than both
these places and if you sign up for my email newsletter
I'm going to send you all that information for free, you can unsubscribe
at any time
I'll send you information of how to get the best way to exchange currency
even better than
the one you see in Pattaya and you don't have to drive to Pattaya and you don't
have to bring a lot of hard cash with you in person, I know personally I don't
like to bring a lot of cash with me
I like to leave them in the bank and then withdraw whatever money I
need
that's how I like to do it but if you were to do it in a foreign country like
Thailand and withdraw money from the Thai ATM machine with your bank card
back at home, the Thai banks, the Thai ATM will charge you 200 baht per
transaction and you're not going to get the real
exchange rate, it's basically a website its online company similar to PayPal
if you don't have to use PayPal you can use this service and you can get
up to free 500 British pounds transfer once you sign up
if you need your money right away this this might not be the best solution
for you and the other thing is you going to need a Thai bank account to send that
money, that Thai money exchange to that Thai bank account but it's
worth having it because it's more convenient you don't have to go to
places like Pattaya you get even better rates than Pattaya, you get the real
exchange rate currency transfer
as what you see on Google, Yahoo Finance and xe.com