People say money makes the world go round. But I say, money brings you a-round the world, and realize your travel dream.
Money, one of the most frequently asked travel questions.
Where is the best place to exchange money?
Where can I get the best exchange rate?
These questions are answered in this post, specifically for Bangkok and Kuala Lumpur. With a better exchange rate, it helps to extend our travels. But honestly, if it’s only a couple of hundreds of Ringgit Malaysia, then let’s not sweat it. It won’t make any difference.
I had been keeping track of Euro and British Pound Sterling‘s exchange rate to Thai bath and Ringgit Malaysia closely in the past few weeks. Just like watching stock market! So, this post is timely, as even I, myself learned something new.
In Bangkok, I always go to SuperRich International Exchange (1965), as I was told that it is known to offer the best rates in town.
SuperRich 1965 have many branches, so it is extremely convenient. If you’re in the vicinity of Pratunam area, their head office is the nearest. You will be able to check their locations, business hours and rates online here, which is their new website. I’ll expand on this point shortly.
For me, I always go to their branch at Central Ladphrao, as it is closer to where I stay. Touted as (one of) the “best in town”, there bound to be always long queue. But, for whatever reason, I always managed to avoid long queue, and get the necessary done in a jiffy.
I mentioned that SuperRich 1965 has a new website. Well.. their site was ‘down’ for few days; I had to rely on other sources.
That’s when I stumbled upon two more “Super Rich” in the Kingdom: Super Rich Thailand and Grand Super Rich. I thought these are the “fake” Super Rich, akin to the many fake Sinhcafe in Vietnam. I was partly wrong.
D then let me in on the “Super Rich” saga. These are the things mentioned in Thai forums, but nothing came up in English. Tsk. It seemed that there are two Super Rich: SuperRich 1965 (orange colour) and Super Rich Thailand (green colour). They were from the same family, then went their separate way. SuperRich 1965 claimed they were the first. So, no one really knows which one is the pioneer. Money-exchange-Thai-lakorn (drama).
As for Grand Super Rich (blue), I assumed there are no family blood ties. Perhaps they just jumped on the ‘Super Rich’ bandwagon.
Two or three days after SuperRich 1965’s site was ‘down’, their old domain www.superrich1965.com became available. So frustrating. Not long after, I found their new home at www.superrich.co.th, with exactly same content and format.
Updated 13 Nov 2015:
If I am not wrong, SuperRich 1965 has just done a rebranding exercise. Logo at branch is different than the one on their website. This will definitely add on to the confusions. Rebranding exercise NOT done right, in my humble opinion. Their new logo incorporates orange and green colour .. why green lah?
Here are the rates comparisons of SuperRich 1965, vis-a-vis the other two SuperRichs, and also with Kasikorn Bank and SCB Bank.
1 Euro @ THB 40.20 (vs. Super Rich Thailand 40.20 / Grand SuperRich 40.15 / Kasikorn Bank 40.56 / SCB Bank 40.91)
1 GBP @ THB 55.20 (vs. Super Rich Thailand 55.10 / Grand SuperRich 55.10 / Kasikorn Bank 55.6 / SCB Bank 55.65)
My take on the Super Rich saga: their rates are quite on par, so go to the one most convenient to you. Looks like this is a classic example of where consumer benefit from competition.
Two tips that I would like to highlight on SuperRich 1965:
1. They have different operating hours for ‘selling’ currencies.
For example, this is based on Central Ladphrao’s branch:
Monday – Saturday : 10.30 am – 5.00 pm. (buy and sell), 5.00pm – 8.00pm (buy foreign currencies only)*
Sunday : 10.30 am – 8.00 pm (buy foreign currencies only)*
* So, if you have Thai bath, and would like to buy foreign currencies, then don’t bother.
2. Their online rates are not applicable at all locations.
Stated on their website:
“These rates are applicable for business hours from 9.00 am – 6.00 pm. at the RAJADUMRI and SILOM branch only“.
But, they always honoured the same rate at their Central Ladphrao’s branch.
Friends swear by My Money Master, with one and only branch at MidValley Megamall. You will be able to check their location and rates online, here. Unlike SuperRich in Bangkok, they provide both selling and buying currencies service, from 10am-10pm.
But I found that MV Forex, located two doors away, always offer the same rate. But somehow, people still flock to My Money Master, evident from their long queues.
See rates comparison with two local banks: Public Bank and Maybank. Interestingly, Public Bank offers a lower rate for Sterling Pound.
1 Euro @ RM 4.785 (vs. Public Bank 4.82 / Maybank 4.9540)
1 GBP @ RM 6.575 (vs. Public Bank 6.5460/ Maybank 6.8850)
Happy saving, Happy traveling.
Note: Exchange rate is correct at time of writing, and as you know, it fluctuates like a yo-yo.