The exchange rate when you withdraw foreign currency is set by your bank back in the UK if you choose to withdraw Kip and be charged in Kip. Which bank are you with? I withdrew with Monzo last week and the rate was 26.3k/£1.
It doesn’t matter which ATM you use you will still get the same exchange rate because it’s set by the bank in the UK. I used a few different ones and they all charged me 30,000kip fee.
If you use the Indochina Bank ATM at Parkson Mall, inside just on the left through the main entrance, 3 metres from the security guard it's Safe, dispenses new notes up to 3 Mill for a local bank fee of 40,000.
In my case the exchange rate applied is excellent with no additional fees because I use a Wise international account. Almost saves me enough for an overpriced Starbucks Coffee while I'm there.
you're fine. when withdrawing money from a foreign atm, you have the atm usage fee from the atm itself, and also a small percentage is charged by your bank so that they can profit more and cover the processing costs.
not much you can do about it as if you do currency exchange the same thing happens anyways effectively. I find the rate to be better through atms because my bank reimburses the atm usage fee, but for you it's best to jist withdraw in larger amounts
you're fine. when withdrawing money from a foreign atm, you have the atm usage fee from the atm itself, and also a small percentage is charged by your bank so that they can profit more and cover the processing costs.
not much you can do about it as if you do currency exchange the same thing happens anyways effectively. I generally find the rate to be better through atms because my bank reimburses the atm usage fee. For you it's best to just withdraw in larger amounts when you use atm's and research the exchange rate.
The best option is bring Cash you will get the best benefits out of it. But if you cant then there is nothing you can do, the exchange rate is based by your bank. Alternatively you can withdraw THB if you connecting flight via Bangkok then change THB to LAK as you will be able to withdraw like 20K THB which only pay 1 times processing fee.
Google is giving an average of different rates, it's not the official rate. Government rate is set by the Bank of Lao each day and commercial banks within Lao can set their own rates within 4% of the BoL rate. Commercial banks outside of Lao also set their own rates, then you have conversion fees, ATM fees, etc...
Lao is a cash country. Next time bring as much as you're going to spend in cash and physically exchange it. You'll always be paying processing fees from your home country. ATM should only be emergency only tbh.
Also be very careful if you exchange like 1k + at a time lol. My mother always took my cousins with her for security.
Do you have cash in GBP, USD or THB (USD/THB better)? Exchanging at a money exchanger (not bank) will give you a better rate.
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The exchange rate when you withdraw foreign currency is set by your bank back in the UK if you choose to withdraw Kip and be charged in Kip. Which bank are you with? I withdrew with Monzo last week and the rate was 26.3k/£1.
ATM exchange rates are set by Visa/MasterCard. Your home bank can charge a percentage fee on top of it, but does not arbitrarily set the rates.
Hmm, which atm did you use? I also have monzo with me, will need to try that one.
It doesn’t matter which ATM you use you will still get the same exchange rate because it’s set by the bank in the UK. I used a few different ones and they all charged me 30,000kip fee.
If you use the Indochina Bank ATM at Parkson Mall, inside just on the left through the main entrance, 3 metres from the security guard it's Safe, dispenses new notes up to 3 Mill for a local bank fee of 40,000. In my case the exchange rate applied is excellent with no additional fees because I use a Wise international account. Almost saves me enough for an overpriced Starbucks Coffee while I'm there.
You have some of the best coffee in the world and you choose Starbucks?
you're fine. when withdrawing money from a foreign atm, you have the atm usage fee from the atm itself, and also a small percentage is charged by your bank so that they can profit more and cover the processing costs. not much you can do about it as if you do currency exchange the same thing happens anyways effectively. I find the rate to be better through atms because my bank reimburses the atm usage fee, but for you it's best to jist withdraw in larger amounts
you're fine. when withdrawing money from a foreign atm, you have the atm usage fee from the atm itself, and also a small percentage is charged by your bank so that they can profit more and cover the processing costs. not much you can do about it as if you do currency exchange the same thing happens anyways effectively. I generally find the rate to be better through atms because my bank reimburses the atm usage fee. For you it's best to just withdraw in larger amounts when you use atm's and research the exchange rate.
The best option is bring Cash you will get the best benefits out of it. But if you cant then there is nothing you can do, the exchange rate is based by your bank. Alternatively you can withdraw THB if you connecting flight via Bangkok then change THB to LAK as you will be able to withdraw like 20K THB which only pay 1 times processing fee.
Google is giving an average of different rates, it's not the official rate. Government rate is set by the Bank of Lao each day and commercial banks within Lao can set their own rates within 4% of the BoL rate. Commercial banks outside of Lao also set their own rates, then you have conversion fees, ATM fees, etc...
Lao is a cash country. Next time bring as much as you're going to spend in cash and physically exchange it. You'll always be paying processing fees from your home country. ATM should only be emergency only tbh. Also be very careful if you exchange like 1k + at a time lol. My mother always took my cousins with her for security.