Travellers Cheques, Exchange Rates

[ajannick]

Hi All,

Do you get a better rate of exchange using $ travellers cheques or £ ?

Also is there any particular bank or bureau that will give the best rate?

I plan to use £ travellers cheques and cash them at Bangkok Bank Silom.

Many Thanks

Nick.

[naka]

Siam Commercial Bank today.

Cash - 67.535

T/C's - 68.092

So practically no difference if you pay 1% up front for T/C's.

Naka.

P.S. most Thai banks have websites where you can find this info.

Naka.

Edited May 30, 2007 by naka

[paragon1]

Hi All,

Do you get a better rate of exchange using $ travellers cheques or £ ?

Also is there any particular bank or bureau that will give the best rate?

I plan to use £ travellers cheques and cash them at Bangkok Bank Silom.

Many Thanks

Nick.

Fractionally you get a better rate for dollar t/c's than sterling as you do with dollar 50 and 100 bills as against sterling spot. However it is marginal and if you are British then you will lose more than you gain in the change from sterling to dollar t/c's anyway. If you happen to already have them , dollars is better.

As you frequent Silom area you will know there are so many bureaux there , a simple walk down will soon show you who is best on a given day. Surawongse road also has some good rates around Patpong. However the differance is so marginal is it really worth the worry??

[naka]

Hi All,

Do you get a better rate of exchange using $ travellers cheques or £ ?

Also is there any particular bank or bureau that will give the best rate?

I plan to use £ travellers cheques and cash them at Bangkok Bank Silom.

Many Thanks

Nick.

Fractionally you get a better rate for dollar t/c's than sterling as you do with dollar 50 and 100 bills as against sterling spot. However it is marginal and if you are British then you will lose more than you gain in the change from sterling to dollar t/c's anyway. If you happen to already have them , dollars is better.

As you frequent Silom area you will know there are so many bureaux there , a simple walk down will soon show you who is best on a given day. Surawongse road also has some good rates around Patpong. However the differance is so marginal is it really worth the worry??

Dollars is better ! Where have you been the last five years

Naka.

Anyway, to the OP. If you are in the US, buy USD cheques, If from UK, buy Sterling cheques.

Edited May 31, 2007 by naka

[KhunG]

There's a small commission paid on each check, so get the largest denomination you can. In USD Amex does $500 checks.

[repoulin]

There's a small commission paid on each check, so get the largest denomination you can. In USD Amex does $500 checks.

If you are using American Express Travellers Cheques make sure you exchange them at the American Express building near Ari BTS Station to avoid paying a high commission paid on each cheque. The very is much lower if there is even one.

[Jimjim]

It seems to me cash is just as good or almost as good, because you don't have to pay the fee for the traveler's checks.

[jcgodber]

U.S. dolar T/c can also be bought in $1000.00 denominations also. As have already noted, there is a per check charge so it would be better to use the larger.

Jim