Phuket is a very common tourist destination in Thailand and it receives millions of tourists every year. Whether it be the beautiful beaches and luxury resorts or the night life and tours around the island, the island is an attraction to all. Nevertheless, there is one crucial aspect that most travelers disregard and that is currency exchange. Exchanging currency in the most suitable place in Phuket can spare you a lot of money when visiting the place.
Both as a short time visitor and a long time stay, it is best to get good exchange rates so that you maximize your travel budget.
Why Exchange Rates Matter
A minor fluctuation in the exchange rates can have an influence on the amount of Thai Baht you get. Convenience is frequently available at airports and hotels, but they will tend to be already less expensive than the local exchange booths. These small differences accumulate over the period of your holiday particularly when you are dealing with large sums of money.
This is the reason why most seasoned travellers never visit Phuket without doing their research on the most efficient currency exchange within the country.
Airport vs Local Exchange Booths.
As you alight at the Phuket International Airport, the first thing you will see is a number of currency exchange counters. Whereas it is feasible to spend a little to get transport and short-term costs, airport fees are usually not as competitive.
In tourist resorts, best rates are often found in local exchange booths in Patong, Kata, Karon, and Phuket Town. These privately run exchange facilities compete with one another and this makes the rates attractive to the customers.
In order to optimize this, only what you require at the airport is worth exchanging and everything else is worth exchanging at the reputable exchange offices in town.
Phuket Money exchange shops.
In case you are looking at the best currency exchange in Phuket, there are places where the deals are considered to be good:
Patong Beach: This is the most popular tourist center and so there are plenty of exchange centers. Competition maintains rates very relatively favourable.
Kata and Karon Beaches: There are also good exchange booths that serve foreigners in these places.
Phuket Old Town: In this locality some local financial service providers provide good exchange rate and professional service.
It can be quite easy to walk a small distance between booths to get a better deal.
How to get the best exchange rate.
The location is not the only way to find the best currency exchange in Phuket; it also involves exercising wit. Here are some practical tips:
- Compare Rates First: Visit various booths prior to exchanging. A good number of them post their rates outside.
- Avoid Dynamic Currency Conversion: When using a card, it is always better to have it charged in Thai Baht as opposed to your native currency.
- Take Clean, Unmarked Notes: Duced or torn bills will not be accepted or they will be charged at a reduced price.
- Exchange Larger Denominations: Big bills are sometimes better priced than small bills.
- Look into Hidden Fees: There are no separate commission fees in good exchange booths; the exhibited rate will be the rate you get.
- These are the few steps that you need to follow so that you can have the most competitive rate.
Is It Better to Use ATMs?
The amount of ATMs in Phuket is extensive and can be used to withdraw Thai Baht. Nevertheless, foreign cards are usually subjected to a withdrawal fee by Thai banks. Also, your parent bank can impose foreign exchange charges.
Although ATMs do come in handy during emergencies, exchanging money at the best currency exchange at Phuket is usually better overall especially when you are going to spend a couple of days or weeks at the island.
Safety and Reliability
When transacting money in other countries, security is a factor to be put into consideration. In order to avoid fraud, one must always transact in licensed exchange booths that have official signage and display transparent rates. Street people who deal in personal exchange offers should always be avoided because they can be found engaging in frauds or forging notes.
The money will be counted in front of your eyes by reputable exchange providers and a receipt will be given on request. Tourists tend to be safe in Phuket, although simple precautions are always welcome.
Best Currencies to Bring
Phuket has most of its exchange booths that accept major currencies like the US Dollars (USD), Euros (EUR), British Pounds (GBP) and the Australian Dollars (AUD). Bringing one of these good currencies will be better in case there is an opportunity to exchange them.
The Singapore Dollars, Malaysian Ringgit or Japanese Yen will also be charged favorably to the travelers of the neighboring Asian countries depending on the demand.
Planning Ahead for Your Trip
The online exchange rate of the mid-market is current before traveling. This will provide you with a benchmark of whether the rate provided in the locality is competitive. Although you will not necessarily get the interbank rate, the best currency exchange in Phuket will usually have a reasonable margin to it.
By planning, you will not spend the money even in the impulse to take it, where you are not interested.
Final Thoughts
A prudent budget when it comes to travelling will start with a smart choice of currency exchange. You can easily find the best currency exchange in Phuket and maximize the value of your money through research and comparison of alternatives.
Eschew overcharging in the airports, shop around in tourist spots, and trade more in terms of larger amounts. You would then be able to save money that would be better used on island tours, delicious Thai food or on relaxing beachside activities with a little preparation.
The selection of the exchange service might be a minor issue, but one that can have a significant difference with respect to your overall trip to Phuket.