Where is it most profitable to exchange money in Phuket?
Insider's Response
The most favorable currency exchange rate is at official exchange offices in Phuket. They are on all tourist streets of resorts (Patong, Karon, Kata, Phuket Town), in Central Festival and Jungceylon shopping centers. The rate can be even more favorable in less touristy areas. Popular options: Value Plus (red exchange) on 4th floor Central Festival, street exchanges in resort areas, online services (Arbi, Ex24, Fast Money) with Telegram exchange 24/7. What currency to bring: US dollars in large bills $50 and $100 — most favorable rate. Small bills ($1, $5, $10, $20) accepted at 5-10% reduced rate. Where NOT favorable: airport (10-15% worse rate), hotels (up to -20%), banks (-5-8%). Keep in mind that small bills are accepted at a reduced rate, and torn, taped, or too wrinkled banknotes may be refused altogether.
An even easier option is to use trusted exchange services like Arbi. You can do this without leaving home, online through a Telegram bot at this link. The service is transparent and reliable.
You can read more details about currency exchange options in our Money Exchange section.
Unfortunately, tourists are not immune to scams and financial tricks. To stay safe, check out our articles on Common Scams in Phuket and How to Avoid Scams in Phuket?. Don’t let anyone fool you!