Changing Sterling to Baht Best way/place?

[SteveT]

Hi
Im Coming to Patong Dec 27th (Im hardly sleeping now!) and I wondered about what to do about changing money. Last time I just did the usual tourist thing and brought couple hundred quid in Baht and the rest travellers cheques. I used ATMs as well I didnt worry too much about exchange rates at the time or how much changing cheques or ATMs was costing.

As Im probably going to bring more cash (2k?) this time in sterling I wondered what regular BMs do about changing money or getting the best rate and least hassle? My mate reckons he was told the best place to change money was the airport? Imnot sure whether thats Phuket or Bangkok ?Any opinions? Thought I would just put the dosh in the safe at the hotel.....is that really safe???

Advice welcome bearing in mind money saved means more ringing of the bell at MTB! So its all in a good cause!



Steve

[barfly]

In the UK Marks and Sparks are the best - good rates and no commision.

[faultytowers]

I have never changed cash in the UK , I always find you get a better rate in Thailand. I usually have a few thousand Baht left over from previous trip , which I use for food/snacks at the Airport. I then change sterling to baht at either Bangkok or Phuket. Never bother with travellers cheques these days, too much hassle , taking passport, trying to get same signature when hung over.(have had arguements that signatures were not "the same").
Normally , after initial cash has run out ,I use ATM ,no problems. Keep credit card in hotel safe as a back up in case of problems.

[Denver]

Originally Posted by faultytowers

I have never changed cash in the UK , I always find you get a better rate in Thailand. I usually have a few thousand Baht left over from previous trip , which I use for food/snacks at the Airport. I then change sterling to baht at either Bangkok or Phuket. Never bother with travellers cheques these days, too much hassle , taking passport, trying to get same signature when hung over.(have had arguements that signatures were not "the same").
Normally , after initial cash has run out ,I use ATM ,no problems. Keep credit card in hotel safe as a back up in case of problems.

Faulty!! You have money left over??? Probably the same money you arrived with! 555555555 Only joking Mr F, Good advice you give, I'm very much the same, just can't be bothered with Travellers Cheques anymore. I normally take a good-ish sum of Sterling which I change on the street. Then onto the ATM's after that and have a little weep when I check my balance on the Internet banking!

[faultytowers]

Originally Posted by Denver

Faulty!! You have money left over??? Probably the same money you arrived with! 555555555

It's the money I've saved from not buying you too many Black Deaths.

[steve@thaib]

Same for me, a few thou baht before I leave the UK, ATM in Bangkok airport to fill up and give some walking around money, and then cards as and when I need cash.

[dizbuster]

I reckon you would be better off leaving the cash at home and using it to pay off the bill when you get back after using your credit card in the ATMs. Finding ATMs is no problem at all they seem to be every 50 yards. It might be worth taking £100/£200 in cash to change up when you get to the airport in Thailand so that you have some Thai baht in your pocket straight away for taxi etc.

[geespot]

Dont change to thai baht in Uk except for the minimum about 50 ponds sterling, cover taxis food etc

The rate between UK & Thailand is outrageous. I havent seen the Thai Baht : Sterling drop below 72 baht per pound in over a year. In the UK u will get somewhere between 67-70 baht depending on where you go

When u are excanging alot of money over the period of ur holiday this can amount to quite and amount

G

[Coolhand]

last week in patong 70.11 baht/pound

[dizbuster]

Originally Posted by geespot

Dont change to thai baht in Uk except for the minimum about 50 ponds sterling, cover taxis food etc

The rate between UK & Thailand is outrageous.

You're quite right G, I meant the airport in Thailand and have now added that to my message. It's almost scandalous the rates they give in the UK, it goes even lower than 67 more often than not...

When I checked just now, the Post Office were giving a rate of 65.255
http://www.postoffice.co.uk/portal/po/foreignexchange?type=buy&pageId=fex_main&catId=193 00210

and Thomas Cook offered 62.40 !!!
https://www.travelmoneyonline.americanexpress.com/b2c/default.aspx?r=gb&p=entry&f=aZx2mb56wWq0Ge9kLty3&c =normal

Recently I got back and notice that the rate has taken a dip, as some of my ATM withdrawals showed a rate of just under 70 and notice that Luke got a similar rate so it wasn't just my credit card company.

If you look at Bangkok Bank's website you will see that they are quoting 69.59 on their website today...
http://www.bangkokbank.com/Bangkok+B...es/default.htm

Sterling is definitely dropping against Thai Baht for the moment.

[jamus]

If you can set up an account with the N/wide then you get official bank exchange rates and no fees (unless the Thai bank starts) using ths standard bank card.

Also you can find an ATM at the airport (BKK anyway) to get cash when you arrive.

[Sirgezza]

Originally Posted by jamus

If you can set up an account with the N/wide then you get official bank exchange rates and no fees (unless the Thai bank starts) using ths standard bank card.

Also you can find an ATM at the airport (BKK anyway) to get cash when you arrive.

True - but make sure it is the DEBIT type of account with Nationwide. I now have 2 flexaccounts with them.

[mkritty]

Can you use Keycard (Normal eftpos car) instead of credit card at the ATM's in Thailand? I was going to take traveller checks & exchange som THB in Sydney.....

[dizbuster]

Originally Posted by mkritty

Can you use Keycard (Normal eftpos car) instead of credit card at the ATM's in Thailand? I was going to take traveller checks & exchange som THB in Sydney.....

Surely the best place to ask the question about Keycard, is to contact the issuer and as for exchanging THB outside Thailand, all the posts I have read say "don't do it" as you'll get a lousy rate. Up to you !!

[Tyfon]

Over 12 months ago Halifax swapped thier switch cards over to visa debit - work fine in LOS and decent exchange rate even with the transaction charge factored in.

[glassmanengland]

I went for my travellers cheques, yesterday and Ive still got a month left yet.

I asked for sterling cheques , but was told if I had US dollar cheques there would be 'NO' commision.

"Ok" I said what is the exchange rate and she said something like $1.63 dollars to the pound.

"What do you buy them back at" was my next reply . She said $1.81(not that I would be bringing any back).

I know that the offical Sterling/dollar rate is around $1.72, so all in all they are taking a 5% COMMISION on my money straight away compared with 1.5% on sterling cheques.
I know tourist rates are not the same as official rates but you are losing twice by taking dollar cheques from the UK.

No wonder they want to sell them. I have even heard of bereau exchange offices telling people that UK travellers cheques are not widely accepted in Thailand.

It is one big con to line their pockets.

No one works for nothing, commision free my *$£"

[smsgames]

Using ATM’s is the only way I take cash all round the world now even with small costs factored in, 1st thing I do when get to BKK find the 1st ATM.

Also take an emergency credit card and leave at hotel safe.

Trying to get travels chq cashed hard enough and if lost /stolen getting them replaced major pain in ass.

Lost my wallet once in LOS, canceled debit card / credit– got a emergency replacement CC card within 20 hrs that lasted rest of holiday got the new debit card when returned home