It has been almost a month since I came back to Malaysia. Time passes really fast. I am sorry for not posting in a while. It is because I have a lot of things to catch up on. Today, I am going to talk about currency exchange in Bangkok. When you travel abroad, passport and money are the two most important things you should have in your bag. However, should you exchange cash or should you draw money out of your bank accounts with an ATM card instead? Keep on reading, and you will have no problems changing money in Bangkok and you will probably get better exchange rates too. I always aim to travel Cheaper, Longer and Smarter.

How to exchange money in Bangkok

There are several ways to exchange currency in Bangkok. The easiest way is to exchange cash at local money changers or banks that you will see dotted around Bangkok. You have to check the exchange rates carefully. Change your cash for Thai Baht at the place with the highest exchange rate.

Traveling for months?

Carry a large sum of money while traveling for months is a bad idea. You will need to plan ahead and bring enough cash to meet your needs. It would be better if you could withdraw local currency with an ATM card. Your ATM card may not work in all ATM machines in Bangkok and you may need to activate your card for overseas cash withdrawal. Recommend using OCBC ATM card with AEON ATMs. AEON do not charge a fee and do not offer Dynamic Currency Conversion. Some of the other banks charge very high. Save your money for other things. However, please bear in mind that AEON ATMs can be difficult to find. There is one located at Big C Supermarket near The Bedrooms Boutique Hotel and The Green Bells Onnut Hotel.

Where is it?

BTS SkyTrain Sukhumvit Line and get off at On Nut Station (E9), Exit 1, take the stairs and make a U-turn, walk straight and turn right at the second junction into a street that full of food stalls (Soi 77). Walk to the end of the street, turn left and Big C Supermarket will be on your right. Walk across the Supermarket’s car park and you will see the ATM machines. The AEON ATM is the small purple and grey one on the right. It has no logo attached on it.

OCBC overseas withdrawal

For OCBC overseas withdrawal, the daily withdrawal limit is the same as your current limit in equivalent currency value of the country you are in. Make sure to check this limit before you travel.

Your OCBC ATM card can be used at machines with the following logos:

– Visa / PLUS ATMs (worldwide)
– Overseas OCBC ATMs (Malaysia and Indonesia)
– ATMs with MEPS (Malaysia only)

AEON ATMs in Bangkok

– Big C Supermarket On Nut
– MBK Center (2nd floor)
– Siam Center (2nd floor)
– Central Chidlom Department Store
– Terminal 21 shopping mall (Ground Floor)

Exchange rate RM to Baht

I exchanged Malaysian Ringgit for Thai Baht at a money changer in Malaysia on 20 March, the exchange rate was 0.108 (RM 1944/18000 Baht).

I withdrew money twice at Bangkok using OCBC ATM card from an AEON ATM machine. The bank charged RM 12 per transaction for the overseas withdrawal. On 23 March, the exchange rate was around 0.1068 (RM 1923.14/18000 Baht). After adding the transaction fees, the exchange rate will be around 0.1075 (RM 1935.14/18000), slightly lower than the rate from money changer. On 5 May, the exchange rate was around 0.1038 (RM 830.95/ 8000 Baht). After adding the transaction fee, the exchange rate will be around 0.105 (RM 842.95/ 8000 Baht). The exchange rate fluctuates often. Overall, I think this is best way to exchange money in Bangkok.

Convert Malaysian Ringgit to Thai Baht

1 Baht to RM? 1 Baht equals RM 0.10xx
100 Baht to RM? 100 Baht equals RM 10.xx

*depends on the exchange rate.