Korean Job Discussion Forums

[DeLaRed]

is it better to change to KRW to USD in Korea? Then to THB in Thai?

Or just change Korean money directly to Thai baht?

I know with the Phillipines, it works better that way (change to USD, then local currency) but not sure about Thailand?

[AD35]

I'm also going to Thailand pretty soon, and I think most people were saying that it's better to change KWN to U.S then U.S to Baht

[The Gipkik]

The exchange rate for KRW to USD is much better than Thai Baht. Do USD here and Thai Baht in Thailand.

[Ramen]

I'd say do whatever is convinient for you. You ain't gonna save much either way. How much are you gonna exchange 2 or 3 million?

[DeLaRed]

probably around 700 - 800,000

[pjmancktelow]

then just change it from won to baht. you wont save anything. or if you have a bank that can withdraw money outabroad (such as KEB) do that. thats the cheapest way.

[Kurtz]

These days I basically just use my ATM card. It's been a few years since I last went to Thailand, but I'm sure there are many ATM's which accept your ATM card with the PLUS or MAESTRO on it. Just taking cash is a big risk, but it's nice to have some emergency US dollars if your card stops working or gets eaten up. Take along your credit card too for cash withdrawls as a last resort.

[pjmancktelow]

i never had a problem with mastercard/visa in thailland. using both korean and UK cards. if you did get stuck due to cards. you can always get a cash advanec from a western union place. expensive of coursem but it will fix a problem. i used to change some for 2 days or so and then cash card the rest.

[English Matt]

I decided to change into Euro travellers cheques.....I figured the US $ and the British � both have the propensity to be very unstable at the moment, whereas the Euro is unlikely to decrease against the Baht during the next month. Also, taking hard currency with you, in whatever form, is pretty risky.....you could lose it, be mugged, have it stolen from your room, etc. Far better to break your money up into cash, travellers cheques and plastic.

Ironically enough, the fact that I got travellers cheques to go to Thailand last year saved my ass when I had my wallet stolen in Itaewon the day after getting back to Korea. I only had a couple of travellers cheques in the wallet and was able to get all my money refunded to me by AmEx. Anyway, fact is that could of happened to me in Thailand and had I not had travellers cheques I would have waved goodbye to that money forever.....in Korea a pain to be sure but in Thailand it would have ruined my trip and potentially have left me stranded had I had no access to alternative funds.

[VanIslander]

Good advice: Carry U.S. cash.

It's the easiest to exchange and this October I was appalled by the won-baht rate at the big airport in Bangkok.

[rocket_scientist]

[thedrizzle]

Is everyone here George Soros or what? Triangle arbitrage for fun and profit?

When you're exchanging your money there's no way you're going to make enough to cover the fees the bank's going to charge you on each transaction. If you somehow can, it's going to be something like $.10.

Hedge funds have complex formulas that find different arbitrage opportunities and hammer them down. You get higher fees, exchanging paltry sums of money, and can't write op ed pieces that influence the entire market - it doesn't matter just change into baht.

Exchanging into dollars and then into another currency would only be good if you're going to multiple countries and want to change the money right when you get there.

[English Matt]

[richinlondon]

If your from the UK, pick up a Nationwide debit card, you get withdrawals from atm's and retailer transactions for only 1% extra, the conversion rate is the market rate.

Fly into any major airport and they usually have global atm's to draw from.

[English Matt]