CURRENCY CONVERSION

[tropo]

8 hours ago, KneeDeep said:

On 7/10/2018 at 7:33 AM, curlywatt said:

i've said this many times on this forum, keep your money in your home bank account, when in thailand go to booth with best exchange rate and buy as much thai baht as you want using your visa debit card, you get that rate and no other charges, basically its the same as bringing cash

Erm...will be interested in seeing the feedback from this. I honestly think it is nonsense.

I agree. If you use your visa debit card, you'll get the Visa card rate minus Australian bank charges which would likely be around 2% if not more as Australian banks charge like wounded bulls.

 

https://usa.visa.com/support/consumer/travel-support/exchange-rate-calculator.html/

 

Probably in the vicinity of 0.5 - 1.0 baht lower than what you'll get at a currency exchange booth.

 

I'd take cash over this method any day on large amounts. If you're concerned about the safety of your cash, open a Thai bank account and deposit the Thai baht there.

[ThaiBob]

57 minutes ago, tropo said:

I agree. If you use your visa debit card, you'll get the Visa card rate minus Australian bank charges which would likely be around 2% if not more as Australian banks charge like wounded bulls.

 

https://usa.visa.com/support/consumer/travel-support/exchange-rate-calculator.html/

 

Probably in the vicinity of 0.5 - 1.0 baht lower than what you'll get at a currency exchange booth.

 

I'd take cash over this method any day on large amounts. If you're concerned about the safety of your cash, open a Thai bank account and deposit the Thai baht there.

It doesn't appear hopeless if you're an Aussie. 

 

https://www.finder.com.au/debit-cards-low-foreign-transaction-fees

[KneeDeep]

1 hour ago, ThaiBob said:

It doesn't appear hopeless if you're an Aussie. 

 

https://www.finder.com.au/debit-cards-low-foreign-transaction-fees

That is if they allow you to use a debit card without extra charges.

I'll happily ask around to see which ones agree. Makes no difference to me as I don't get charged anyway, but it might make a difference to many others. So I'll check.

 

[tropo]

7 hours ago, KneeDeep said:

9 hours ago, ThaiBob said:

It doesn't appear hopeless if you're an Aussie. 

 

https://www.finder.com.au/debit-cards-low-foreign-transaction-fees

That is if they allow you to use a debit card without extra charges.

I'll happily ask around to see which ones agree. Makes no difference to me as I don't get charged anyway, but it might make a difference to many others. So I'll check.

Even if you have a no-fee debit card, the daily visa exchange rate is always under the rate you'll get at a currency exchange booth. The OP was quibbling about 0.1 or even 0.05 baht in exchange rate differences, so I'm sure he won't be interested in lower rates on debit cards. Of course, if you need to exchange a lot of money, you'll have the government imposed $10,000 cash limit for international travelers to consider (if that is still what it is - it used to be)... but you can declare it and possibly travel with more if you wish, but you'll have to show where it comes from.

[OZEMADE]

8 minutes ago, tropo said:

Even if you have a no-fee debit card, the daily visa exchange rate is always under the rate you'll get at a currency exchange booth. The OP was quibbling about 0.1 or even 0.05 baht in exchange rate differences, so I'm sure he won't be interested in lower rates on debit cards. Of course, if you need to exchange a lot of money, you'll have the government imposed $10,000 cash limit for international travelers to consider (if that is still what it is - it used to be)... but you can declare it and possibly travel with more if you wish, but you'll have to show where it comes from.

Over $10,000 cash must be declared. If you split it between two persons say$19,000 and get a better cash rate at exchange booth in Thailand you are better off. Thanks fir all the info guys. Ozemade

[ThaiBob]

10 hours ago, OZEMADE said:

Over $10,000 cash must be declared. If you split it between two persons say$19,000 and get a better cash rate at exchange booth in Thailand you are better off. Thanks fir all the info guys. Ozemade

Why or for what purpose would somebody want to carry large amounts (say $19,000) of money with them? 

[ThaiBob]

In case anybody reads this thread, CURRENCY CONVERSION, they should realize much of the advice pertains only to Aussies (and those with bank cards that impose fees). On Friday, I did an ATM Withdrawal with a USA bank card (feeless) and the exchange was higher, for example, than TT below. 

 

 

[OZEMADE]

1 hour ago, ThaiBob said:

Why or for what purpose would somebody want to carry large amounts (say $19,000) of money with them? 

To get no loss of fees of any discription and to get a possible Tb19,000 more at the Currency Exchange booth.

[ThaiBob]

57 minutes ago, OZEMADE said:

To get no loss of fees of any discription and to get a possible Tb19,000 more at the Currency Exchange booth.

What is the purpose of $19,000 USD? 

[OZEMADE]

4 minutes ago, ThaiBob said:

What is the purpose of $19,000 USD? 

It’s Au $ and it is for my 3 months visit. So If I am lucky enough to get a one Bt better rate it means Tb19,,000 better off 

 

5 minutes ago, ThaiBob said:

What is the purpose of $19,000 USD? 

 

[ThaiBob]

43 minutes ago, OZEMADE said:

It’s Au $ and it is for my 3 months visit. So If I am lucky enough to get a one Bt better rate it means Tb19,,000 better off 

 

 

 

43 minutes ago, OZEMADE said:

It’s Au $ and it is for my 3 months visit. So If I am lucky enough to get a one Bt better rate it means Tb19,,000 better off 

 

 

Understood, thought you might do something ill-advised like buy a condo without a FET(Foreign Exchange Transaction form). Good luck.