money exchange question

[andy50]

is it best to take travellers cheques to thailand,in us dollars,or uk sterling -(uk sterling cheques incurr a 1.5%fee--so for £1500- the fee is £22-00)wheras dollar cheques are fee free-- which of the two gets the best rate in thailand? and how much difference is there between the rates ?is it marginal (a few bhat),or is there a big difference? any help would be greatly appriciated

[IRISH JONNY]

Originally Posted by andy50

is it best to take travellers cheques to thailand,in us dollars,or uk sterling -(uk sterling cheques incurr a 1.5%fee--so for £1500- the fee is £22-00)wheras dollar cheques are fee free-- which of the two gets the best rate in thailand? and how much difference is there between the rates ?is it marginal (a few bhat),or is there a big difference? any help would be greatly appriciated

HEY ANDY.
WHY NOT DO WHAT I DO..
JUST LEAVE THE MONEY IN YOUR ACCOUNT AND WITHDRAW WHATEVERYOU NEED DAILY....WORKED ON ALL MY TOURS.NEVER HAD A PROBLEM YET......

[senor123]

Yep, ATM's are the way top go. Take a bit of money to change at the airport for taxis etc but there are plenty of ATMs that give you a receipt and the balance of your account (in baht). This way you only take out what you need for a few days at a time and you can't lose that much when you get pissed and buy drinks for everybody.

[junkhouse]

Visa is the best, economical wise but as not to bet it all on one card so to say I've usually brought some cash as well as cheques in US $.
Not sure which currency would give you best rates but generally I find they use pretty up to date exchange rates so that would very much vary and depend on the day.
No doubt you go longer with visa in a atm though, I leave cash in safe as an emergency and only use that or cheques if I have to.

[Dazzlethai]

Get an account with Nationwide..the Flex Account. It works at ATM's throughout the World and they do not charge you a penny...its great. Travellers cheques are a pain...just dont loose you ATM card...thats when there not good in Thailand. Take some TCs for back up just in case.

[junkhouse]

Originally Posted by Dazzlethai

Get an account with Nationwide..the Flex Account. It works at ATM's throughout the World and they do not charge you a penny...its great. Travellers cheques are a pain...just dont loose you ATM card...thats when there not good in Thailand. Take some TCs for back up just in case.

A couple years ago in Patong a atm messed up my card, no magnetic left whatsoever... and just 1 bank in all of Patong that can do it the old fashion way. In short I had to stop by there and go through a lot of crap each time I wanted cash, not going to happen again so I always bring a backup, either it be cash, cheque or another card.

[muffdiver]

my card got ****et up last time, went to bangkok bank and was out with money after just a few min, just bring your passport and visa card and they give you money the old way.

ONLY 3DAYS TO GO HE HE

[andy50]

thanks for the info guys,

[butterflyblonde]

Originally Posted by andy50

thanks for the info guys,

I usually find it better to take sterling if you are taking cash to change at the airport on arrival, if you change it $ then you get charged for that anyway, also the pound is very strong at the moment whereas the $ rate does'nt seem as good value so i think even with the 1.5% charge you will gain not lose.
The rate when i was there was 74 baht to the pound, I would only take $ if the sterling rate dropped well below that number as on one trip a while back it was on 63 baht to the pound.

I mainly use Atm's also as i find it just as cost effective as any other method even with the cc interest charges but don't withdraw small amounts as it's a waste of time, I usually take 20,000 - 25,000 baht each time.

i also leave money in my account at home so i can use my Switch maestro card in an emergency and i also take travellers chueqes in sterling simply because i don't normally use much of them they are just back up if anything goes wrong with the cc , this way you will not lose money back home when you put back into your account unlike $

[JayBee]

ATMs - fees can be substantial plus there are many cases of fraud. I use but only for a backup, like when you are taking a nap and don;t get to the money exchange by closing time, or need to fill your wallet up again at 3:00 AM.

Credit Cards - fraud is rampant. Very risky way to go IMHO. OK to use only at the most reputable hotels or shops. I take one but use it only in hotels.

Cash - You'd have to be crazy!

Traveller's checks - safest way to go. If you keep track of the numbers, then you are insured against loss, and can get them replaced. The rates of exchabge are very good. Less costs in fees. But that is because I get them free here in U.S. You shouldn't have to pay for them if you are dealing with a good bank in your homeland. Dollars or Sterling? IMHO makes no difference.

JayBee

[r3aps]

Originally Posted by andy50

is it best to take travellers cheques to thailand,in us dollars,or uk sterling -(uk sterling cheques incurr a 1.5%fee--so for £1500- the fee is £22-00)wheras dollar cheques are fee free-- which of the two gets the best rate in thailand? and how much difference is there between the rates ?is it marginal (a few bhat),or is there a big difference? any help would be greatly appriciated

if you are going to use travellers checks then sterling is worth a damn site more than dlooars,and over 1500 quid the 22 quid in commision is less than you would lose if you took all dollar tc.
but best is to use atms.or even better give them uk cash direct,you get a wicked rate for hands on sterling.
steve

[JayBee]

Originally Posted by r3aps

if you are going to use travellers checks then sterling is worth a damn site more than dlooars,and over 1500 quid the 22 quid in commision is less than you would lose if you took all dollar tc.
but best is to use atms.or even better give them uk cash direct,you get a wicked rate for hands on sterling.
steve

But do you feel OK about carrying cash to LOS? Although I think most of the BGs are above thievery, why take the chance, not to mention maids and other hotel staff who come in your room!

Cash? No way for me!

IMHO the pennies you save is not worth the risk!

JayBee

[r3aps]

Originally Posted by JayBee

But do you feel OK about carrying cash to LOS? Although I think most of the BGs are above thievery, why take the chance, not to mention maids and other hotel staff who come in your room!

Cash? No way for me!

IMHO the pennies you save is not worth the risk!

JayBee

on my last 3 trips i have taken about 1000 quid in cash and the rest i use at atms.i put the cash straight in my safety deposit box.taking it out when i need,altho usually i cash it in in 2 lump sums.also any good holiday insurance will cover you for cash.i know mine does.
steve

[JayBee]

Originally Posted by r3aps

on my last 3 trips i have taken about 1000 quid in cash and the rest i use at atms.i put the cash straight in my safety deposit box.taking it out when i need,altho usually i cash it in in 2 lump sums.also any good holiday insurance will cover you for cash.i know mine does.
steve

Point well taken, but it's still TC for me! I have heard of stuff coming up missing from safe deposit boxes. You are not the only one with a key, you know!

Hey, isn't this fun arguing about money instead of arguing about ripping off BGs for freebies!

JayBee

[r3aps]

Originally Posted by JayBee

Point well taken, but it's still TC for me! I have heard of stuff coming up missing from safe deposit boxes. You are not the only one with a key, you know!

Hey, isn't this fun arguing about money instead of arguing about ripping off BGs for freebies!

JayBee

yes its good,reminds me i am back home as thats the only place i normally argue about money
as regards the safe box keys,yes i agree they have another key,but i think if you stay in a reputable hotel,and are known as a frequent stayer you have no probs,i have stayed at c and n 5 times in 14 months,i no nearly all the staff quite well,and they know me,i dont think i have to worry to much.but yes you are correct and i suppose it could happen.imagine the problems you could cause tho if stuff started going missing from security boxes?i think thats more than any decent hotel dare do or want to suffer.
i can even remember one instance in july where i had cashed up loads of money and a few of the receptionists noticed me put a huge wad of money in my box(90,000 baht to be precise),i wasnt worried and all they said was steve you take us out for good night tonite?to which i laughed and bought them all a drink from the little bar opposite the reception.
the reception manageress came out 5 minutes later and moaned at them for having a break and drinking,until i tukta(bg i was with) to ask her what she wanted.
only problem after that was it cost me a fortune in drinks for them all
steve
steve

[andy50]

thanks for all the replys guys , i think ill take some cash in readys, and use my atm card,too,-- i have applied online to get a card from the nationwide too, cheers all !

[senor123]

That is probably what the majority of the punters do. Good solution.

[JayBee]

Originally Posted by r3aps

only problem after that was it cost me a fortune in drinks for them all
steve

You see what I mean. This is why it is more costly to take cash!