Where to Exchange Money in Phuket?

Unofficial Street Money Changers Booth

We hate to say that unofficial money changer booths offer the best rates, but they often do. We’ll update you as soon as possible with a few examples of the margin for some major currencies. We tried to take a mobile photo of their exchange rate electronic board, but they always switch it off with an angry look when we do! Must be good! As you can see from this photo, there is no bank logo or brand… it’s safe to use them. Here are some samples of price differences we found on that day:

• Bank USD: 32.35 – Booth USD: 32.63
• Bank EUR: 37.38 – Booth EUR: 37.75
• Bank GPB: 41.20 – Booth GPB: 41.80

Official Street Money Changers (Banks)

You will be surprised to see how many currency exchange booths you will see when walking the streets of any of the beaches of Phuket. There are two types of cabins: The official bank’s booths, identifiable by some kind of official logo and bank name (like K Bank in this photo), and the unbranded ones. Banks offer a decent rate, but can’t beat the unbranded booths. As those booths are often near each other, you can walk from one to the next and see the rate for yourself, then change to where the price is best.

Changing Money in Your Home Country

Usually, exchanging money in your home country is not great as rates are not advantageous. It may vary from country to country, but so far, no one has reported it as better or even worth it. Just for peace of mind, you can exchange just enough for food and a taxi on the first day, but since there are ATMS and exchange booths at the airport, you don’t have to carry much Thai Baht.

Exchanging at the Airport on Arrival

In Thailand, changing at the airport is not as bad as in other countries we’ve tried. If you are on a budget, only change what you need for the taxi and a bit of extra cash until you reach the best option: changing in the streets. You will easily spot the exchange counters as you arrive.

ATMs (at the airport or anywhere in Phuket)

ATM’s exchange rate is a little higher than on the streets, but it offers two benefits: an ATM is a convenient way not to carry too much cash around. Pickpockets are not a problem in Phuket, but it’s more about losing your money or spending all of it after one beer too many! The second advantage is based on a question we get A LOT: “How much money should I take with me for a week in Phuket?”. We have no idea what your lifestyle is, and we try to answer the best we can, but with an ATM, you never have to worry if you brought too little or too much… withdraw as you need! ATMs are EVERYWHERE and accept Mastercard and Visa and other international cards (not American Express).

A small word of advice based on our own experience and almost every expat we know: contrary to most countries, when withdrawing from a Thai ATM, your money will come first, and then your card will be ejected AFTER! After a few beers and with friends having fun at the bar next door, a lot of ATM cards have been forgotten this way! Also, always make sure no one is watching over your shoulder while you are entering your PIN code, especially on Bangla Road, where travellers are a little careless.

Changing Money at Your Hotel?

Well-known to be the worst possible option!