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#1
27-12-2005, 04:26
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*****How you like your money?****
Firstly,
Hello to all looking in and hope you had a good christmas....  Rights that's out the way.......just a couple of weeks FOR ME I go on the 7th of January really starting to look forward to going. Now got most information I need from posting previously in here, So thanks alot to all, (you know who you are) helped out with first class information.  Ah my question, Going for 28 days got just under 2000 grand sterling (got to pay for hotels out of that) looking cheap and cheerful. I'm told I should take travellers cheques, Question is how much should I change? Should I keep them in sterling and take them over? Or take them over as converted baht? Whats the best way exchange rate wise, to be the best deal for me on this? appreciate any advice thanks, KB 
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#2
27-12-2005, 05:32
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Quote:
Personally, I like using traveller's checks. Checks in sterling should be just fine. You can change them at any bank, and in BKK and Patong, most banks have walk-up windows for that. The rate of exchange varies a little from bank to bank, so you might want to check out the ones you see near your hotel, to get the one with the best rate, but all the banks are reasonable. In some places(Samui especially), you will see "exchange" signs that are not banks, but travel agents, usually, and they give you a bad rate, so avoid them. The fee for the service is fairly small, altho that varies a bit from bank to bank also. Some BMs prefer to use ATM cards, but it really depends on which bank your card is with, as to how that pans out. Some banks have charges that are a bit high(including my bank, B of A). I take it along, though. Comes in quite handy on those evenings, when I just don't get my butt in gear before 9 or 10 PM, then go out and find that all the exchanges have closed!! Credit cards are OK, but there is the risk of fraud there, and a lot of hotels(but not all) have a 3% charge for use of a credit card. I usually use the CC for hotels(and pay the fee), but only if I feel it is a very reputable hotel. There are a few BMs who prefer to take cash and keep it in a hotel safe box. I don't like that option and only take $100 or $200 cash with me, just in case of an emergency. I don't like the idea of cash lying around, because if it disappears, then you are screwed and no amount of playing detective, or pointing fingers at likely suspects is going to bring it back. I did have one friend who lost a fair bit of cash from a hotel safe in Patong. Don't convert your money before arrival there. There are lots of exchanges in the airports! Have a great holiday trip!!! JayBee
__________________
LOS is warm, soft, smooth, and brown.
Last edited by JayBee : 27-12-2005 at 05:38.
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#3
27-12-2005, 07:11
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Great thanks for that,
So I will change a couple hundred to baht straight away for ready cash, change the bulk of my money to travellers cheques as sterling. Only change them at banks when in Thailand as this is where I will get the best exchange rate. Avoid exchange" signs that are not banks, Sounds good to me, thanks for the advice JayBee,  KB
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#4
27-12-2005, 07:31
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Cash (thai baht) probably about 20k, ATM card and credit card for me. Travellers checks, to me, are from the past.
The ATM's in Patong have a 'English' button, which you push and it asks in English what you want to do. It is just as easy as getting cash at home as long as your ATM card is compatable! On the back of mine I have 'Cirrus' and "Maestro', so I look for ATM's that have either posted along the top of the machine and then I am in business. I always keep the cards in Hotel safe, half the cash with the other half in my lockable suitcase in my room. Only ever have up to 5k baht on me at one time, and in different pockets over my person. I always have photocopies of the bio page of my passport also, one is in the hotel safe the other in my suitcase and also photocopies of the cards. The charge for using my ATM card is about 250baht (withdrawing 15k baht at a time), I'm on holiday to me this is not a problem. This is what I do hope it helps.
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#5
27-12-2005, 08:17
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An ATM card comes in quite handy, but 15K Baht is a lot to be walking around with in your pocket after you've stopped at the ATM. Also, I have twice read here recently, posts where the BMs said they either lost their card or came upon a machine which did not return it to them! Then they had to borrow from their GFs to finish out their holiday! There have been cases of fraud with ATM cards also, altho I don't know if that has ever been a problem in LOS. I should say, as well, that my bank provides traveler's checks at face value with no fee for them. If you had to pay for the Traveller's checks then there would be no advantage in them. Lots of people use traveller's checks, so although they may not be hi-tech, they are not exactly dinosaurs either. If they are lost or stolen, you can get them replaced, but you should keep track of the numbers of which ones you've spent to do that. I never change money in the US as the exchanges here charge exorbitant fees. The cash I take is in US currency, which is easy to carry, and can be exchanged same as traveller's checks. Also when I say banks, I am including the little walk-up window booths, such as on Bangla, which are run by banks, even though the actual bank is elsewhere. JayBee P.S. I just noticed this thread is from the Samui section. It seemed to me that most of the bank exchanges there(at least in Lamai), closed at 7:00 P.M. Also, I can't recall if there were exchagnes in the Samui airport, tho it seems likely, but it is different from most other airports,
__________________
LOS is warm, soft, smooth, and brown.
Last edited by JayBee : 27-12-2005 at 08:30.
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#6
27-12-2005, 08:39
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Hi JayBee;
Yes, I would only do that transaction early morning then straight back to hotel to pop the cash into a secure place. My credit card also works as a ATM card as well. Point taken concerning the machine not spitting the card back out. It would totally freak me out if it 'ate' my card. If the machine did do this can you ring someone for it's retrieval? Is there a phone number on the machine? What have other BM's done apart from lending money from a gf's in this situation?
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#7
27-12-2005, 09:01
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Can AUS$ be easily exchanged or should I be looking at a differant currency, I was planning on taking some AUS$ plus Thai baht plus US$ travelers cheques an ATM card and a credit card.
So I should be covered if I loose anything, is it worth me getting the travellers cheques in US$ or should I just get AUS$?
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#8
27-12-2005, 09:02
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Well, I know I have read it twice here, but apparently not both times did the machine eat the card. Here is one of the posts maybe you read already from Baka-boy: "Being drunk, happy and stupid, I left my ATM card in the machine and walked off by accident. The BG i was with not only gave me 3000 baht but stayed with me for the next 3 days, bought me drinks and food and bought me a T-shirt on my last day there." So he forgot his card. But that is the kind of stupid thing I have done here in the US before, so I don't want to take that chance in LOS, and use my card more sparingly there! Quote:
Since I don't get up early, and mostly get my money on the way to the bars, that doesn't work too good for me!  Quote:
Haven't got a clue!!
__________________
LOS is warm, soft, smooth, and brown.
Last edited by JayBee : 27-12-2005 at 09:14.
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#9
27-12-2005, 09:17
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Aus$ money can be easily changed. I doubt there is any advantage to US checks, especially if you have to pay a fee for them. With checks, ATM, and CC, I think you will be prepared for anything, even a very avaricious BG!!
__________________
LOS is warm, soft, smooth, and brown.
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#10
28-12-2005, 01:43
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As for travellers cheques, I have never used them and never intend to. You don't get a very good rate when you buy them, plus you pay a fee for buying them, whereas by using a credit card or ATM card is much easier and can be done when the bank is shut. You will find that there are ATM's all over the place, which adds to the convenience factor. Changing currency to Thai baht done OUTSIDE Thailand usually gets you a very low rate and it is not to be recommended. If you want to change cash, do it inside the airport when you first arrive in Thailand. The general suggestion is not to do too much at the airport as you will get better rates outside. If you change up enough for the first couple of days, then what you effectively "lose" because of the rate, will be tiny. I have been 10 times now and apart from 1 time, I always take 2 credit cards and use 1 of them , with the second being taken "just in case". A tip here would be to inform your credit card company that you are going on holiday and that you will be using ATM's in Thailand, otherwise they may block the transaction when you use the ATM  Good luck and enjoy your trip 
__________________
Only a woman can break his spell. Pure in heart who will offer herself
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#11
28-12-2005, 02:12
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Dizbuster,
Good point I don't have credit cards but have a debit visa card(which debits my bank account immediately of the funds) Now what put me off this way was when in Spain few months back my bank put a block on the card for security reasons simple because I was using it. I had to ring them up from Spain to get it unlocked this was a major inconvenience and not good. This has put me off relying on the card.........what if the machine eats the card, what if the bank blocks it? I will take the card as a back up but will use travelers cheque's if not a bit reluctantly. I'm sure Thailand is a great place but like most places in the world can be the worst place if you have no money in your pocket. I will take your advice and inform the bank that I may use the card in Thailand hopefully that may help, Speaking to my bank last time I was told its a automatic computer system that apparently triggers the block on a card when used many times, don't know if that's true or just there excuse to flob me off at the time.
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#12
28-12-2005, 03:53
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Problem with debit cards is.. You make a purchase and its immediately from your account.. So the bank is less likely to refund you in case of fraud..
Use a visa card and they 'credit' you the money (and dont pay the merchant for up to 90 days) and so if theres a problem they have not been paid so they stiff the merchant.. I have been on both sides of the coin.. Merchant and punter.. For the punter a 'credit' card offeres a whole load more protection.. Merchants get screwed over so hard by visa its like being taken with sandy vasoline !!!
__________________
Men have only 2 emotional states, hungry and horny.. So ladies, if you see me without an erection, make me a sandwich.
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#13
28-12-2005, 04:22
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if you go to an ATM , which in the wall of a bank , no problem ! you can walk in to the bank , and tell them that the ATM eat your card . they will be happy to get it out of the machine for you . and you can collect it the next day
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#14
28-12-2005, 04:44
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As noted by Diz, if you have to pay for traveller's checks, then there isn't much advantage to them, except as back-up if you have trouble with your ATM card.
If like Nero, you withdraw 15K Baht per transaction then a $6.25 (USD) fee is not bad, since that is less than 2%. When I used the ATM, often I would withdraw 5K Baht, sometimes less than that, so at $5.00 per transaction, I was paying a fee of 4% or more, sometimes double that, which is a little steep, IMHO. On my last tour, I tried to only use the card for withdrawals of 10K Baht, cutting the fee down to a more reasonable 2%. That is if the Thai bank didn't charge me, and that I don't remember. With traveller's checks, I generally just top off my cash in pocket with a 4K baht ($100) check cashed, which is generally adequate on a given evening, and helps to keep me from getting out of hand with my spending! The fee to cash a traveller's check is pretty minimal, only 31 Baht at the bank which I frequented most often(altho many are higher). That fee would amount to only a fraction of 1 per cent charge. However, I pay nothing for the traveller's checks. I can get them free at either of the two banks I bank at. The first time I went, they wanted to charge me 3 %, and I just said, no, I have the deluxe account, and was told I get traveller's check for free (no one ever said that to me, but I thought it sounded good). The teller consulted one of the supervisors, and I got the checks for free. Now when I need them, I just say, "Well, I always get them for free. Never been charged before." They don't even ask the supervisor anymore.At my other bank, I just told them, "Well, I get them for free at B of A!! They've never charged me!" Then they say, "I see, of course, no problem, Mr. Jaybee." So, you might try that approach. Apparently, they cost them little or nothing to give you, so why should you pay! If you are a good customer, then you should get them for free!! JayBee
__________________
LOS is warm, soft, smooth, and brown.
Last edited by JayBee : 28-12-2005 at 04:47.
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#15
28-12-2005, 05:24
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I think your right there,
I will be ordering mine from my bank on line there is no charge for them if I collect them. They will even deliver them to my house in 24 hours for a small fee of 5.00 pounds sterling. So all in all not a bad deal very happy will go with travellers cheque's smiling 
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#16
28-12-2005, 09:13
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I have not used Traveller's cheques anywhere in the world for about 8 years now, and will never use them again.
I do pretty much what Diz has suggested. I have 2 credit cards. I only ever use one and the other is "just in case".
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#17
28-12-2005, 09:32
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OK, so you are not a farang! You are a banana! Alrighty. if you say so!! 
__________________
LOS is warm, soft, smooth, and brown.
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#18
28-12-2005, 10:48
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The word "farang" also means guava as well as foreigner, so it's good for a laugh when some of the touts yell out "farang, farang". Last edited by rufus123 : 28-12-2005 at 10:58.
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