8 replies to this topic

[Quietguy]

I was having a look at the exchange rate board at a Money Exchange Bureau in Pattaya Klang,near the junction with Soi Buakhow, when I was approached by a European guy. Not sure about the accent but he could have been German or East European. He asked if I was changing US dollars, and I said I had British Pounds. He pointed to a woman behind him and said she was his girlfriend and she was from the Philippines. He said she could not change her Baht to Philippine currency, and asked if I would change her Baht fo sterling which she could change in the Phillipines. He offered to pay 1 Baht more than the Bureau's rate for sterling.

I declined and walked away. I was suspicious of such an offer. I have heard of scams in other countries where people have been offered higher exchange rates for foreign currency, and then when they hand over their cash, plainclothes police, who could be bogus or sometimes genuine but in on the scam, suddenly appear and seize the victim while the guy with the money disappears.

Or counterfeit notes may be given in exchange.

In any case the offer wasn't very good. I got 1 Baht more at the Bureau next to Pook Swanhouse, which always seemed to have a better exchange rate.

Is it illegal to change money unofficially in Thailand - ie not in a bank or exchange bureau?
While an exchange bureau may not have Phillipine currency for exchange, surely a bank would, and couldn't she have changed the Baht for Sterling or US Dollars at the Bureau, and then changed that in the Phillipines?

So was I being unduly suspicious, or was this some sort of setup or scam?

Edited by Quietguy, 10 March 2011 - 01:55 AM.

[luv u long time]

I think you did the right thing here mate.

I think one of a few things would be the possibilities:

1) Fake notes in amongst real ones
2) Miscount of notes in the transaction, giving you 25, counting 30 notes and making their excuses and heading off on the nearest motorcycle
3) Triple/quadruple counting, ie okay, so if you give me another 500, that'll make it xxxxx, then I'll give you 200 back and we will be level. (and you will be a few thousand baht down on the deal by the time you work it out)

Bottom line is, better sticking to credible exchange places. passport, health and money and they main things you need to look after on holiday.

[farang]

luv.you.long.time, on 10 March 2011 - 02:31 AM, said:

I think you did the right thing here mate.

I think one of a few things would be the possibilities:

1) Fake notes in amongst real ones
2) Miscount of notes in the transaction, giving you 25, counting 30 notes and making their excuses and heading off on the nearest motorcycle
3) Triple/quadruple counting, ie okay, so if you give me another 500, that'll make it xxxxx, then I'll give you 200 back and we will be level. (and you will be a few thousand baht down on the deal by the time you work it out)

Bottom line is, better sticking to credible exchange places. passport, health and money and they main things you need to look after on holiday.

while i totally agree with you,i also had some good deals with some chinese dealers well know to a barowner friend of mine in patts....had checked the rates but made him call them,and in about half an hour a chinese guy came on a motorbike with the money...i got about 2-3% more....but again that was only because the friend of mine known that chinese for a looooong time.....

but like the OP did...i would have walked out on that "dodgy" deal....

remember...if it sound toooo good to be thruth...it is....

[jcs]

if you want a good exchange rate, have a word with some expat bar owners, they are always on the lookout to change Bht back into Euro/GBP/USD.. most will give a few baht over the odds.. probably best for large amounts IE: 1000GBP etc.

[bkkldby]

Quietguy, on 10 March 2011 - 01:38 AM, said:

I was having a look at the exchange rate board at a Money Exchange Bureau in Pattaya Klang,near the junction with Soi Buakhow, when I was approached by a European guy. Not sure about the accent but he could have been German or East European. He asked if I was changing US dollars, and I said I had British Pounds. He pointed to a woman behind him and said she was his girlfriend and she was from the Philippines. He said she could not change her Baht to Philippine currency, and asked if I would change her Baht fo sterling which she could change in the Phillipines. He offered to pay 1 Baht more than the Bureau's rate for sterling.

I declined and walked away. I was suspicious of such an offer. I have heard of scams in other countries where people have been offered higher exchange rates for foreign currency, and then when they hand over their cash, plainclothes police, who could be bogus or sometimes genuine but in on the scam, suddenly appear and seize the victim while the guy with the money disappears.

Or counterfeit notes may be given in exchange.

In any case the offer wasn't very good. I got 1 Baht more at the Bureau next to Pook Swanhouse, which always seemed to have a better exchange rate.

Is it illegal to change money unofficially in Thailand - ie not in a bank or exchange bureau?
While an exchange bureau may not have Phillipine currency for exchange, surely a bank would, and couldn't she have changed the Baht for Sterling or US Dollars at the Bureau, and then changed that in the Phillipines?

So was I being unduly suspicious, or was this some sort of setup or scam?

you need to be a registered and licensed exchange to do this legally anywhere in TH.

i know of only one person that isn't, and he was in Patpong. he was introduced to me by a good friend who had known him for ages. i do not see him any more, he was getting on in years so maybe he retired.

the girl who was wanting to change money seems a bit shady. the PI and TH are both ASEAN countries and trade and travel is fairly unrestricted between them. i think that she would have no problem trading that stuff at eitehr airport on departure or arrival.

as others have said, counterfeiting is an industry in SE Asia and they say the Cambodians are the best and most prolific and in the North its the N. Koreans.

anyone can change currency at the airport, that is what they do. the rates may be fooked but they will trade almost anything into anything as long as they have it. you may have to go through immigration to departures to do that though.

in BKK there are now several legal exchanges that will trade in anything as long as they have it.

under the Nana BTS is a place called Vasu, been there for years. very good and open regular business hours (see their nam baht below).

also behind the Big C where the EGV cinema is across from Central World in BKK is a street with i believe 3 of them. Super Rich is the best.

if you are only changing a few hundred or a thousand dollars i figure why take the risk for such a small gain and just go to a real exchange. if i have thousands i go to Vasu or Super Rich.

does anyone know of such a place in PTY that is licensed and above aboard?

here is the info for Vasu, i had posted it previously on another board.

it would make sense for anyone stopping off in BKK coming in or going out of TH to go there and change all that you would for the entire trip if a real savings is sought. i always go there before i go home to NY or to another country and i know i will need more than a few grand of that currency.

HINT: LOOK FOR THE SUBWAY SANDWICH SHOP.

Attached Images

• 

[travis bickle]

As usual-spot on great info from bkkldby....

I dont think it was a scam,but you did the right thing also not changing the money.....the reason being there was no real gain for you in doing her a "favour"..,and a possible loss....you say you got an extra baht (same as was offered to you)near pookswan house.

They will not change for example,us dollars to pound sterling without first changing the dollars(1 transaction) into baht...and then the baht into pounds sterling(2nd transaction)...so the money changer gains twice ,and the changee loses twice...so the request was perfectly understandable.....I think also if they had counterfeit notes,the offer would have been far more tempting than 1 baht on top of the going rate.
Nevertheless,I think you did the right thing in refusing...err on the side of caution always is my motto.

[Quietguy]

Thanks for the replies guys. I wouldn't change money with someone who approached me on the street anyway, though I have done with a taxi-driver who offered me about 10% more (not in Thailand) when I was in the back of his cab - and I did get his notes off him first and checked to see that they were genuine.

[carpetbloke]

bkkldby, on 10 March 2011 - 03:55 PM, said:

you need to be a registered and licensed exchange to do this legally anywhere in TH.

i know of only one person that isn't, and he was in Patpong. he was introduced to me by a good friend who had known him for ages. i do not see him any more, he was getting on in years so maybe he retired.

the girl who was wanting to change money seems a bit shady. the PI and TH are both ASEAN countries and trade and travel is fairly unrestricted between them. i think that she would have no problem trading that stuff at eitehr airport on departure or arrival.

as others have said, counterfeiting is an industry in SE Asia and they say the Cambodians are the best and most prolific and in the North its the N. Koreans.

anyone can change currency at the airport, that is what they do. the rates may be fooked but they will trade almost anything into anything as long as they have it. you may have to go through immigration to departures to do that though.

in BKK there are now several legal exchanges that will trade in anything as long as they have it.

under the Nana BTS is a place called Vasu, been there for years. very good and open regular business hours (see their nam baht below).

also behind the Big C where the EGV cinema is across from Central World in BKK is a street with i believe 3 of them. Super Rich is the best.

if you are only changing a few hundred or a thousand dollars i figure why take the risk for such a small gain and just go to a real exchange. if i have thousands i go to Vasu or Super Rich.

does anyone know of such a place in PTY that is licensed and above aboard?

here is the info for Vasu, i had posted it previously on another board.

it would make sense for anyone stopping off in BKK coming in or going out of TH to go there and change all that you would for the entire trip if a real savings is sought. i always go there before i go home to NY or to another country and i know i will need more than a few grand of that currency.

HINT: LOOK FOR THE SUBWAY SANDWICH SHOP.

Great post that one.
That`s where i`m staying while i`m in Bangkok.

Edited by carpetbloke, 18 July 2011 - 10:58 AM.

[cesar67]

you did the right thing, scam all over it!!1