Ripped off at exchange booth at airport

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Kung-fu Hillbilly
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Re: Ripped off at exchange booth at airport

Post by Kung-fu Hillbilly » Thu Sep 12, 2019 9:31 am

One thing I was pleased to realize long ago is that money changers are just another business looking for business. Where sensible, changing larger amounts of money gives you buying power with money changers prepared to negotiable on their rates.
The idea that seeing the world is going from place to place to look at obvious things is an illusion natural to dull minds.
SternAAlbifrons
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Re: Ripped off at exchange booth at airport

Post by SternAAlbifrons » Thu Sep 12, 2019 10:46 am

^^^ that is true Kung Fu, even at airports - sometimes.

At the australian airport i regularly fly into, the only late night money changer used to be rip-off merchants Travelex.
Low rates plus a $2o fee.
However, i knew the staff had discretion so i could ask to change US$20 for fares without paying the $20 fee.

A couple of years ago that booth changed to ANZ. My bank at the time.
NO fee waiver, no way, not even for a card carrying member of their own bank stuck at the airport late on a sunday night.

PS, Travelex charges 9% + or - on the "official" rate. That is an 18% spread. !!!.
fitnesspm
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Re: Ripped off at exchange booth at airport

Post by fitnesspm » Thu Sep 12, 2019 11:51 am

I know money changers take a big cut at airports. I was expected to lose $10 maybe $20 on the money changer but not $50 for only $250 (5750 baht) in a 3rd world country!

In KL, I exchanged $300 at the airport and they charged me $15 (2 months ago).

I heard on Duckduckgo that there aren't many money changers in Cambodia hence I thought $200 would be enough until I hunted one down.

Some years ago in Jakarta, I nearly ran out of money trying to find one. I took a taxi to where I was told by the Hotel I was staying at where the money exchangers are. I couldn't find them where it was a good 1-2 hours walk back to my Hotel and I didn't know the route. No one spoke English... I was shitting bricks. In the end, it took me about an hour to find a money exchanger. *sigh*
Last edited by fitnesspm on Thu Sep 12, 2019 12:29 pm, edited 3 times in total.
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PSD-Kiwi
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Re: Ripped off at exchange booth at airport

Post by PSD-Kiwi » Thu Sep 12, 2019 12:13 pm

fitnesspm wrote:
Thu Sep 12, 2019 11:51 am
I heard on Duckduckgo that there aren't many money changers in Cambodia hence I thought $200 would be enough until I hunted one down.
WTF! That must be a really shit and/or outdated website.

With regards to currency exchange at airports, I have always found the exchanges at Changi Airport in Singapore to be competitive & reasonable, not much difference in rates from those you find in the city.
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armchairlawyer
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Re: Ripped off at exchange booth at airport

Post by armchairlawyer » Thu Sep 12, 2019 12:20 pm

OP, sorry you had a bad intro to Cambodia. That sure was a terrible deal at the FX booth. Not much use to you now but for the record you don't need to buy riel because USD can be spent everywhere. So you just need to bring some USD with you to Cambodia and you are all set. If you want to change any major currencies, go to a good money changer in daylight hours. My usual is on st 136 just east of the New (Central) Market, on the left side as you walk towards st 51.
One other little foible in Cambodia, you need to check your USD carefully when you receive it from anyone, if it is torn or defaced (or forged) you ask to change it, and they will do so without question. You will receive riel in your change, if you get more than 4000 riel in your change you can ask them to give it to you in USD instead. You don't need to check your riel notes for tears etc. Be lucky.
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Re: Ripped off at exchange booth at airport

Post by armchairlawyer » Thu Sep 12, 2019 12:27 pm

fitnesspm wrote:
Thu Sep 12, 2019 11:51 am
Some years ago in Jakarta, I nearly ran out of money trying to find one. I took a taxi to where I was told by the Hotel I was staying at where the money exchangers are. I couldn't find them where it was a good 1-2 hours walk back to my Hotel and I didn't know the route. No one spoke English... I was shitting bricks. In the end, it took me about an hour to find a money exchanger. *sigh*
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