For many travelers to Bangkok, Thailand, one of the first questions they have is which bank has the best exchange rates for exchanging currencies. We can help with that.
After a decade of living in Thailand, the only bank I use to exchange currency through now is Siam Commercial Bank (SCB). Consistently offering the highest exchange rate, if you’re bringing a large amount of cash into Thailand, you’ll often get more for your money at Siam Commercial.
Take today’s exchange rates, for instance. While Bangkok Bank is offering 30.07 per dollar, and Krung Thai only paying 29.56 baht per dollar, Siam Commercial is offering 30.27. While that might not seem like much, if you’re bringing through $1,000 via ATM, you’ll get 30,070 baht from Bangkok Bank, only 29,560 baht from Krung Thai, but 30,270 from Siam Commercial.
The difference between Bangkok Bank’s rate and Siam Commercial’s is 200 baht. In Bangkok, that buys you lunch, a beer and a taxi ride back to your hotel.
The difference between Krung Thai’s advertised rate and Siam Commercial’s is 710 baht, or………lunch, a beer, a taxi ride home, a latte at Starbucks, one days’ worth of grocery shopping and a movie ticket.
Getting the best rate at a bank in Bangkok gives you a lot more buying power. While, of course, you should check every bank’s exchange rates before committing, we recommend Siam Commercial Bank for consistently having the highest exchange rates in Bangkok.