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: exchange offices in major shopping malls, street exchanges in resort areas, and online exchange services, including 24/7 exchange via Telegram. 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.
Another convenient option is exchanging money online without leaving your accommodation — for example, through EXFM, a currency exchange service licensed by the Bank of Thailand.
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!