Phuket Thailand - Best Way to Deal with Finances while in Thailand

MTD · #1 22-07-2005, 03:29

I am just wondering ya'll's techniques for dealing with your money while in Thailand. For example, how much cash do you leave your home country with and how easy is it to access your money via an ATM or use credit cards while in Phuket. I will be staying in Phuket and training at a gym there for at least 3 months. Room is paid for so I will just need money for food and fun. Just curious to see your methods of dealing with money and also how prevalent credit card usage is in Phuket...Thanks.

erik1 · #2 22-07-2005, 05:33

ATM on every corner as long as you have the cirrus logo on your card Never a problem

stevem · #3 22-07-2005, 10:13

Credit cards are accepted everywhere same as anyother country. ATM's everywhere. Not carry too much cash on your body. Keep some smaller notes in your pocket to pay tuk tuk's or whatever, that you dont expose your wallet and its contents.

tg2112 · #4 22-07-2005, 19:52

Do you get stung badly with foreign withdrawal charges/exchange rates at ATMs?

r3aps · #5 22-07-2005, 20:15

Quote:

Originally Posted by tg2112

Do you get stung badly with foreign withdrawal charges/exchange rates at ATMs?

DEPENDS WHO U BANK WITH,ABBEY DONT CHARGE FOR USING ATMS ABROAD.
STEVE
ps.sorry for caps,got the johnnies

steve@thaib · #6 22-07-2005, 23:15

Same same; I use a credit card or switch card to get cash at the ATM and get charged a small fee. I always seem to get a very fair exchange rate doing it that way too.

I get a few baht at the airport this end so I am not destitute when I land, and they get 5-10 thou in Bangkok before I leave the airport.

Mustang · #7 23-07-2005, 01:53

Hi MTD. For me,the key is having a back-up source for money if your primary source disappears,for whatever reason.

I use my ATM,but only have funds for my trip in the account to limit the potential damage from ATM scams.(rare but not impossible)I have money in separate accounts I can access if the unthinkable happens.

I don't use my credit card but I keep it in the hotel safe with my passport sealed in an envelope for emergancy back-up.

From home I bring a two day supply of local money so I can avoid currency exchanges when I arrive.When I land,I'm tired ,not very alert,and I've got newbie farang written all over me,so I try to limit the amount of public money handling I do initially.

I carry a wallet but rarely pull it out,keeping smaller denominations in a couple of pockets.

My "Custer's last stand" of financial security is a US $100 rolled up tightly and tucked away somewhere in my gear.It's worth 4000 baht which obviously goes a long way in Thailand.One night in Pattaya my ATM card wouldn't work in any machine(credit card also)

and without that US "C" note it would have been a lonely night!

True I may go a little overboard but just because you're paranoid doesn't mean they're not out to get you! j/k.

Oh and my #1 tip.....Never,never make your ATM password 1-2-3-4-5

(as discussed in a previous thread)

cheers

MTD · #8 23-07-2005, 06:04

Thanks for the info guys...I'll plan on carrying 2 days worth of baht with me when I leave the states and then just go with it from my ATM card...awesome...

bigsquat · #9 23-07-2005, 07:27

Hey MTD- Are you going to Phuket just to train? What's your sport?

bigsquat · #10 23-07-2005, 10:00

Also- be careful about foreign ATM charges- ATMs are prevalent, but in the US, most banks will charge a pretty big fee for a foreign ATM withdrawal... I ran up around $300 worth of ATM fees alone over 6 weeks, however, I had a prearranged deal with my bank, so they were dismissed.

gregor200 · #11 25-07-2005, 12:43

ATM fee is at a maximum of 4 Euro, you can pick about 25000 Baht in one draw (and this every day). Thats like Europe, when you use your EC card in a foreign bank. The exchange rate is fair. Credit cards are accepted in Supermarkets, but in some shops you have to pay an extra (about 3 percent). With an exchange rate addon of 1.75 percent, I use my credit card only, when there is no ATM nearby or for large amounts.

LivinLOS · #12 25-07-2005, 13:20

I am 99% sure that most (all) atms will only deliver 20 notes, so that is a maximum of 20k baht per pull.. My Thai bank card allows for 100k per day but I would still have to make 5 seperate withdrawls one after another to get the lot..

alibaba · #13 25-07-2005, 15:50

My Siam Commercial Bank card will let me have 10,000 Bt. in one pull but allows me to withdraw 3 x times a day ie. 30,000Bt. per day.

MTD · #14 26-07-2005, 00:42

Quote:

Originally Posted by bigsquat

Hey MTD- Are you going to Phuket just to train? What's your sport?

Ya, Im going to strictly train mixed-martial arts. Gonna hone in on my stand up skills with some extensive muay thai and i will also be doing some brazilian jiu jitsu at the camp...I'll be there for at least 3 months...

gregor200 · #15 26-07-2005, 00:59

Quote:

Originally Posted by LivinLOS

I am 99% sure that most (all) atms will only deliver 20 notes, so that is a maximum of 20k baht per pull.. My Thai bank card allows for 100k per day but I would still have to make 5 seperate withdrawls one after another to get the lot..

You made me lookup my books...:

On Nov 11,2004 I made a withdrawal of 26k at the ATM of RADANASIN Bank in Phuket. I think it is somewhere on Bangla Road. Was buying a gold chain for my GF on that day. I paid 4,93 EURO in expenses. The exchange rate I got was 0,0189615.

Didn´t try a bigger amount since. Maybe I can go up to 50K. In Germany the daily limit is 1000 Euro, that´s about 50K.

Allybabba22 · #16 26-07-2005, 02:37

Quote:

Originally Posted by LivinLOS

I am 99% sure that most (all) atms will only deliver 20 notes, so that is a maximum of 20k baht per pull.. My Thai bank card allows for 100k per day but I would still have to make 5 seperate withdrawls one after another to get the lot..

Thats the same with me LIL, Can only take out 20,000bt at a time.

LivinLOS · #17 26-07-2005, 15:21

I was actually told its the counting mechanism in them.. Seems od that other have been able to pull more in a single go from a machine as a similar thread on TV stated lots of times about a 20 note max in thai ATM's (eg you cant get 19900 becuase thats 19x1000 1x500 and 4x100 etc).. I just took it as gospel..

stevem · #18 26-07-2005, 22:16

Quote:

Originally Posted by LivinLOS

I was actually told its the counting mechanism in them.. Seems od that other have been able to pull more in a single go from a machine as a similar thread on TV stated lots of times about a 20 note max in thai ATM's (eg you cant get 19900 becuase thats 19x1000 1x500 and 4x100 etc).. I just took it as gospel..

Same here, always limit withdrawals to 20K. Have to do a big withdrawal tomorrow will check it out.

WildOnE · #19 02-08-2005, 23:12

just called my chase bank and they stated it would be USD$3 and 3.5% on how much you take out. WoW!! Ridiculous!! I guess traveler's checks are in order again and also cash in hand. I hate traveling this way, but banks charge wayyyy too much here in the states.

DARBS · #20 02-08-2005, 23:46

well defo don't do what I did this time round I took 30,000thb in 1000 notes
and 100 in English then had a grand =£1000 in a UK bank which I thought I would take out
each week and draw the maximum . I lost all cash 1st night
and 4 days later lost my ATMcard so had to get cash advance on my credit cards 20,000
every 3 days . they only give you 20,000 a day of your visa card .
I would put the Atm Card in a safe and take the money out once a week b4 you have been out in the night i.e. Drinking

good advice

Sitrom · #21 04-08-2005, 06:41

Everyone has covered the ATM situation. I normally call my credit card company and let them know I'll be in Thailand and to expect charges from there. That way I get no suprises because they deny the charges due to them protecting me from fraud.

nkped · #22 07-08-2005, 14:13

Had the recent experience of one of my credit card issuers contacting me because charges started coming in from Canada. It wasn't me--haven't been in Canada in almost four years period. They promptly reversed the charges. On the other hand, they process charges from Thailand a couple of times a year without any problem. I was actually quite impressed.

Nid Noy · #23 08-08-2005, 08:38

My Bank charged me about $7.00 US for every ATM transaction I made. The same amount was charged everytime I used the ATM card for paying my hotel bill, as well. This really added up after while as I stayed at a bunch of different hotels. I think that next time, I'll try a different strategy and pay hotel bills in cash and take fewer trips to the ATM. Enormously convenient, however.

Also, if you plan on using the credit card, inform the company first. My card got cut off after only a few charges. A major hassle to get it functioning again. The ATM card seemed to offer the most convenience.

Make note of every transaction you make and you'll thank yourself later. When you get home, go over all the transactions you made and be sure you are not double charged or overcharged.

Turned out I was overcharged $300 at one hotel, so it's worthwhile going over your financial details.

Mav · #24 08-08-2005, 09:28

Had a few instances recently in Patong where the ATM network was "down" for a few hours.....and as l did not have a "back up" l thought l might be in for a quiet night.

I think next time l may bring a small amount of T/chqs just in case.