Best Places to Exchange Money in Phuket: A Guide for Travelers

Posted by dalew 12653 on October 15th, 2024

Phuket, Thailand’s largest island, is famous for its stunning beaches, lively nightlife, and rich cultural history. While soaking in the beauty of this tropical paradise, managing your finances efficiently is essential. One key aspect of this is finding the best places to exchange your money at competitive rates.

In this guide, we will explore the best place to exchange money in phuket, helping you maximize your funds while avoiding unnecessary fees and unfavorable exchange rates.

1. SuperRich Currency Exchange

SuperRich is one of Thailand's most renowned currency exchange providers, known for offering some of the best exchange rates in the country. Although more commonly found in Bangkok, there is a SuperRich Phuket branch, located in the Patong area, making it highly convenient for tourists.

Why Choose SuperRich?

• Competitive rates: Often better than banks and airport exchange booths.
• Reputable service: SuperRich is a well-established and trusted currency exchange provider in Thailand.
• Convenient location: Close to popular tourist areas in Patong, making it easy to access while exploring the town.

Location: Patong Beach area (Check online for updated details) Hours: 10:00 AM – 7:00 PM daily

2. Vasu Exchange

Vasu Exchange is another reliable option offering competitive rates and multiple branches throughout Thailand. While it’s better known in Bangkok, it has branches or partner services in tourist destinations like Phuket, ensuring you can exchange currency easily and with confidence.

Why Choose Vasu Exchange?

• Consistent and competitive exchange rates: Vasu Exchange is known for offering better rates than banks.
• Trusted by tourists and locals alike: Vasu Exchange is a reputable name in currency exchange.

3. Kasikorn Bank and Other Thai Banks

Phuket is home to several major Thai banks, including Kasikorn Bank, Bangkok Bank, Siam Commercial Bank (SCB), and Krungsri Bank. These banks offer currency exchange services at branches throughout the island, including in popular tourist areas like Patong, Kata, and Phuket Town.

Why Choose a Bank?

• Reliability: Banks offer a secure way to exchange money with transparency in rates and fees.
• Accessible locations: Most banks are located in tourist-heavy areas.
• Multiple branches: Many banks have numerous branches, making it easy to find one near you.

Tip:

It’s a good idea to exchange money during banking hours (usually 8:30 AM to 3:30 PM on weekdays), as rates tend to be more stable and better than those at airport kiosks.

4. Money Changers in Jungceylon Shopping Mall

Located in the heart of Patong, Jungceylon Shopping Mall is not only a popular destination for shopping and dining but also a convenient place to exchange currency. Inside the mall, you will find multiple money changers offering decent rates.

Why Choose Jungceylon Mall Money Changers?

• Convenient location: If you're shopping or dining in Patong, you can easily exchange your currency here without needing to make a separate trip.
• Multiple options: With several money changers inside the mall, you can compare rates and choose the best one.

Location: 181 Rat-u-thit 200 Pee Road, Patong, Phuket Hours: 11:00 AM – 10:00 PM daily

5. Local Currency Exchange Kiosks

Phuket is dotted with many smaller, independent money exchange kiosks, especially in busy tourist areas like Patong Beach, Karon Beach, and Kata Beach. These kiosks are often found on street corners, near shopping areas, and by popular hotels.

Why Choose Local Currency Exchange Kiosks?

• Convenient: These kiosks are often within walking distance from hotels and beaches, making them a convenient option for travelers in a hurry.
• Flexible hours: Many local exchange kiosks stay open late, which is helpful if you need to exchange money outside of standard banking hours.
• Competitive rates: Some kiosks offer surprisingly good rates, but it’s important to check and compare them with other options.

Caution:

Always ensure that the kiosk you choose is licensed and offers transparent services. It’s a good idea to check online reviews or ask for recommendations to avoid potential scams.

6. ATMs in Phuket

Another convenient way to get Thai Baht is by using your debit or credit card at ATMs, which are widely available across Phuket, particularly in tourist hotspots like Patong, Kata, and Phuket Town. Visa and MasterCard are accepted at most ATMs.

Why Choose ATMs?

• Convenient: ATMs are available 24/7, making them a convenient option when banks and money changers are closed.
• Direct access to funds: You can withdraw local currency directly from your foreign bank account.

Caution:

Be aware that Thai ATMs usually charge a fixed withdrawal fee (฿220-฿250 per transaction for foreign cards), in addition to any fees from your home bank. It’s best to withdraw larger amounts to avoid multiple ATM fees.

7. Avoid Airport Currency Exchange Booths

While Phuket International Airport (HKT) has several currency exchange booths, it's best to avoid exchanging large sums here as the rates tend to be much lower compared to other places on the island. The convenience is useful for small, immediate expenses upon arrival, but try to wait until you reach a bank, money changer, or ATM in the city for better rates.

Why Avoid Airport Exchange Booths?

• Lower exchange rates: Airport kiosks often offer some of the worst rates.
• Higher fees: Hidden fees or less competitive rates can add up quickly when exchanging large amounts.

Conclusion

When exchanging money in Phuket, it’s all about location, timing, and comparison. For the best rates, visit trusted providers like SuperRich, Vasu Exchange, or local banks. If convenience is your top priority, currency exchange kiosks in Jungceylon Mall or ATMs scattered across the island are also great options.

Make sure to compare rates, avoid airports for large exchanges, and carry a mix of cash and cards for different situations. With this guide, you’ll be well-prepared to make the most out of your money while enjoying the stunning beaches, markets, and nightlife that Phuket has to offer.