Banks and Money Exchange on Koh Samui
Koh Samui Business | Banking information for your stay on Samui Island
The banks of Samui Island are very cooperative to tourists and conveniently located and open on week days. They are usually open from 8.30 am to 15.30, without any breaks. There are some banks in some parts of Samui Island that are open to meet the convenience of the people in the locality. For example the banks found on Spangled and Chaweng of Samui Island are open from 9.30 to 16.30 for the convenience of its customers.
Exchange money in exchange offices of Samui Island
Besides the banks, you can also visit the numerous small exchange offices for currency exchange in Samui Island. These exchange offices are usually open up to 10 pm in animated places. Administration offices are usually open from 8.30 to 16.30, with a break between 12 and 1 noon. If you exchange money here, you will have to produce your passport before doing so.
All the banks and small exchange offices of Samui Island accept foreign currency in the form of cash or travelers cheques. It is basically better to use traveler's cheques as they get you a better rate of exchange. however don't change your cheque into dollars, and then into local currency of Samui Island as this needs two transactions, and will make you lose money in the process.
Compare exchange rates before exchanging currency in Samui Island
The local currency of Samui Island is the baht. If and when you have to change large banknotes, it is better to do so after comparing the rate of exchange of different banks. This is because there are variations in different banks; and when you change large amounts of currency, you can save several hundreds of baht.
When you change small amounts of foreign currency, you don't actually realize the difference in the amount you receive after foreign exchange in Samui Island. It is only the large amounts that bring about a difference in the amount that you receive after foreign exchange.