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Evil Penivel
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jetseti-
If you buy a travelers check (cheque in the UK) for 100 pounds sterling (or any multiple thereof), you may have to pay a nominal fee - such as 1 pence per pound - depending on the institution from which you purchase the travelers checks. Some banks or other retail outlets will often waive the fee. You can read more about it here:
Thomas Cook
Say you want to buy a total of 1,000 pounds sterling in TCs. You hand over 1,000 pounds if there's no fee, or 1,000 pounds plus 10 pounds if there is. When you cash the TC in Thailand, you will receive the face value of the check in baht at the current exchange rate minus a fee of 30B to 50B per check. The fee per check can vary depending where you cash it.
The rate on http://www.xe.com is not an actual rate, but the mid-point between the bid and ask rates for lots of USD one million or more. It is an indicative rate and you should get something close to it, but a retail exchange outlet in Thailand would soon go broke if they offered to buy TCs or cash at the same rate as shown on xe.com.
Unless you have a huge amount of money to change, there's no real difference between changing at the airport and changing in downtown Bangkok, especially if you've not familiar with the city. The hassle of hunting down a bank with a better rate outweighs the money you save. The exchange rate for small amounts (and by small, I mean under 10,000 pounds or so) doesn't vary enough from place to place to worry about. Do you really want to spend an hour or two chasing around Sukhumvit so you can save 100B or 200B? Any bank in BKK that changes money will give you a rate that's very close to every other bank.
I carry USD TCs in $500 denominations. Because I visit Thailand frequently, I save enough baht from my previous trip to get me into the city, then change at the bank that's most convenient to my hotel. Should I not have any baht left, I change USD $500 at the airport.
I also have an ATM card that doesn't charge set fees for withdrawals abroad and the commission is only 1% on the exchange. For me, it was HSBC that offered the best terms, but that can vary from country to country (and even state to state in the U.S.). Sometimes you have to have other accounts with the bank or maintain a minimum balance above a certain level to get the ATM fees waived.
For those who carry American Express TCs or have an Amex card - you get the best exchange rate at the Amex office in BKK, better than any bank, but it is a damn hassle to get there if you're staying in the Sukhumvit area. You'll gain about 500B on a transaction of $1,000 compared with changing at a bank.
Evil
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Bangkok Girls : Meet Attractive Thai Girls
Posted on: 7:58 am on Oct. 18, 2006
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fastmover
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Stop! Stop for f***s sake, its 2006 and we still have posts about travelers cheques!?
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Bangkok Women : Meet Sensual Bangkok Women
Posted on: 8:04 am on Oct. 18, 2006
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Evil Penivel
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Travelers checks are still the best option, all things considered. It's much quicker and easier to have TCs replaced abroad if they're lost or stolen than it is to replace an ATM card. Unless you get a very good deal on the withdrawal fees/commission with your ATM card, TCs are also a cheaper way to change money.
Evil
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Thai Girls : Meet Sexy Thai Girls
Posted on: 8:15 am on Oct. 18, 2006
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fastmover
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Really? Hey that's really up-to-date info! Thanks
P.S. August 5, 1891, the first travelers checks issued by American Express.
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Bangkok Girls : Meet Sexy Bangkok Girls
Posted on: 8:37 am on Oct. 18, 2006
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Mel Gibson
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fastmover,, yep 2006,,, In 2004 I had the frustrating experience of visiting NanNing in China,,, although I find HAVING to use American currencey objectionable I was prudent and took AMEX US$ traveller checks as main money supply.
Second day and thought now is time to top up the YUAN,, grabbed 3X $100 traveller cheques and headed to the bank.Handed over to teller, who looked somewhat bemused,, looked at them up-side down, left / right,,, and had NO idea what the fffff they were,,,,. Holy shit batman,, I was shocked but at the same time so pleased I had found a non Americanised part of the earth.
Second bank same same, 3rd / 4th etc etc. Ok I'm a persistent son of a bitch but enough was enough,, so out comes the ATM card,, you bet ya,,, ATM1 no go,, maybe they don't accept Visa at that particular ATM ?? second ATM no go, 3rd,,, now I REALLY getting friggen angry
Finally returned to my hotel and found the one guy there with English,,, he cleared it up, Chinese ATMS are NOT connected to the net ( cannot be used by foreigners ) except a specific one located within the bank,,,, AHHHH ok now I can get same money.
He was also baffled by the AMX travellers cheques saying " what is this ".
I must go back one day.
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Bangkok Girls : Meet Attractive Thai Girls
Posted on: 4:37 pm on Oct. 18, 2006
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jetseti
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thanks Evil Penivel, best reply I got on this site.
i guess that rate was a bit high ;p lol
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Bangkok Women : Meet Beautiful Thai Girls
Posted on: 2:20 am on Oct. 19, 2006
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Tengotodo
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i used multiple forms of exchange on my last trip and have come to the conclusion that traveler's checks is the best option. Fees nowithstanding, there are no furhter surprises with TC's. After using my ATM on my last vist I was hit with a barrage of "international exchange fees" crap and "ATM not-in-network- fees crap that I got reall pisssed.
Use TC's and no worries. They cash them with no hassle - just bring your passport and room key. no surprises later.
That is just my opinion. YOur mileage may vary...MY $.02
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Bangkok Girls : Meet Attractive Thai Girls
Posted on: 8:27 pm on Oct. 21, 2006
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fastmover
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Quote: from Mel Gibson on 5:55 am on Oct. 19, 2006
In 2004 I had the frustrating experience of visiting NanNing in China
I have lived in China since 1992. Never had problems like you speak of.
Any 5 star hotel is allowed to exchange money and cash T.C.'s and most ATM machines will allow cash withdrawal for MC & Visa - check for the symbols on the machine.
A quick call to your card issuer would have given you the information you require.
Prior to departure from your home country, I assume you had to purchase the T.C.s, so why did you not ask at the location you purchased them, if Nanning has the financial facility to cash them?
It does surprise me that you seemed to have RMB in hand since you said you needed to top up with local currency. RMB is deeply discounted if you sell and is very pricey to buy in your home country, if you are able to find it at all.
Perhaps when you purchased the RMB you might have asked a few questions about convertibility of US T.C.s there as well.
Next time you had best ask your travel agent for additional info since if you flew and bought air tickets they might have had some advice for you concerning foreign exchange in China.
There is no mystery to internatonal travel, only travellers who mysteriously lack logical thinking.
Yep!
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Thai Girls : Meet Active Thai Girls
Posted on: 11:05 pm on Oct. 21, 2006
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kopycat
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Quote: from Tengotodo on 9:45 am on Oct. 22, 2006
100% agree, TC's are still the best option.
Every time I order them at the bank, they say I would be better of with credit cards..... sure, right...
Those bank guys must promote credit cards because THEY make better profit for the bank.
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Thai Women : Meet Matured Thai Women
Posted on: 2:16 am on Oct. 22, 2006
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james bond
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Hey there bro's,
one thing you don't do is go to the post office or travel agents and change your money currency, they say no charge, no commission which is a load of bull, there is a small charge and commission this is why they are 65 baht to the £1 not the 70 baht to the £1 as you said at X E.com.
travel checks is a better way but this is the best way I found out to travel to other countries.
NATIONWIDE building society, join up with these and ask for a FLEXI ACCOUNT.
when you joined up you get a card with a VISA sign on it, don't worry not like any other visa card as you can only take out what's in your account and not get in the red. as it's a visa card you can almost use it anywhere in thailand, thinking about it you can use it everywhere in thailand, i've used this card in ISAAN in the smallest villages there is.
But this card is no charges what so ever, no commision, no charge at any ATM and they give you the currency what the bank's give you and yes that is X E 70 baht to the £1. you must of seen the adverts on the british tele.
it's great also if you have a partner or family in thailand, try to get a joint account and get 2 of these cards, just show them how to use the card while you in thailand, put money in the account and she or family can just draw the money out with no cost's. last month my statement came through and it show's the rate of 69 baht to 71 baht.
sorry this is only for the u'k residents.
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Bangkok Girls : Meet Attractive Thai Girls
Posted on: 2:17 am on Oct. 22, 2006
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