James Sutton

Travelled to 9 countries / regions

Written 10 briefs
Go to Thailand pretty much every December



Asia > Thailand > Useful Info
Submitted on Oct 04, 2018 Useful Info

NEVER choose the conversion option on ATMs (as well as credit cards)

  • If you've been travelling for a bit, you probably have seen this at some point when trying to take out money from ATMs (look at the 2 green buttons at the bottom of this picture)

User submitted photo of Thailand

  • You should ALWAYS do "WITHOUT Conversion"; there's never a situation where "With Conversion" is cheaper. This is true in Thailand, and this is true anywhere in the world
  • This is a shady practice called Dynamic Currency Conversion, where the ATM will offer you a "service" by converting the money for you at their shitty exchange rate, and then charging the corresponding CAD/USD/whatever base currency to your bank
  • They do it because a lot of people don't know this practice and keep falling for it, and they make a lot of money from it
  • To give you a sense of how much worse off you are, if you withdraw 10,000 baht (~$400 CAD), choosing this option can cost you an extra $20-$40 (5-10%) from the worse exchange rate they give you
  • So, to drive home this point:

User submitted photo of Thailand


Ronnie Cronemeyer

Travelled to 0 country / region

On Aug 16, 2019

I recommend Everex money transfer to withdraw Thai Baht free and travel almost cashless. They offer fair exchange rate and do not charge any extra fees. Their free cardless ATM withdrawal service is available in all major places in Thailand.