Travellers Checks

[devildog683]

We are planning on using travellers checks for our next trip to Thailand (around 5,000 USD). Need to know where the best place to cash them . Prefer Bangkok-to-Surin area.

Thanks in advance for any help!

DD

[Maestro]

Cash them at any bank.

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Maestro

[devildog683]

Cash them at any bank.

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Maestro

o ok, do they all give the same rate (is it more than it is for cash?)

thanks!

DD

[Chung noi]

Howdy,

Just a thought. We always buy the $500 dollar checks because when you cash it, you only pay one fee. I have been charged the fee for each $100 dollar check cashed even though I was cashing five of them at once. Always make sure you get the rate for $100 dollar checks. I was in Sukhothai last November cashing in, when I noticed I was getting the 1 dollar rate. It took 30 Mins. to work it out, and then after we did, everyone was unhappy. The funny thing was everything was in writing as far as the rates and exchange fee, yet they looked and treated me like I did not understand, even we were speaking and reading English. My wife started in on all the action telling the manager "Why we not get good rate I'm Thai?" so we ended up with like 200 extra baht or something after it was all said and done.

15,000 Baht is more than we usally need in a night, but by cashing this amount we don't have to exchange as often. I have been told to beware of pick pockets or those guys that try to cut open your pack. It has never happened to me, but have been told many stories from people that have lost everything including their passport, right after making an exchange. I carry everthing in a pouch that I place in my front pants pocket, before I leave the bank, or exchange booth.

Good Luck

*j*

[Tinkelbell]

I went to Asia Bank in BK. They charged me one and a half percent commision for my $100 bills. You'll be charged 3% on the $20 bills.

Days later when I went to Bangkok Bank, surprised to find out that there was no commision on you.

[Thanyaburi Mac]

We are planning on using travellers checks for our next trip to Thailand (around 5,000 USD). Need to know where the best place to cash them . Prefer Bangkok-to-Surin area.

Thanks in advance for any help!

DD

Rather than travellers checks you might check your bank to see what they charge for use of their ATM debit card.  My credit union in the U.S. allows 10 FREE withdrawals per month at any ATM in the world.  Handy here in Thailand, and I've used this for lots of years.

Don't really like TCs, you pay some %age when you buy them and often another %age when you cash them.

BTW, at least in Thailand, you should get a higher rate than for a $100 bill cash.

Note the last two columns here for Friday's rates at the Siam Commercial Bank:

http://www.scb.co.th/html/exchange/bk-txtexchange.htm

Mac

[asanee]

BTW, at least in Thailand, you should get a higher rate than for a $100 bill cash.

Well, thats true, BUT:

1.Thai banks never charge a fee for changing cash

2.tipically, for US$ their rate is slightly higher for big bills (50/100)

3.also any thai bank charges a flat fee of 33 Thb (about 1 US$ now, due to its very low rate), per TC, whatever its value. This fee forfeits any higher rate.

4.the actual cash pay-out in THB for a 100US BILL is thus a few baht higehr as for a TC of 100US.

5.other as in CA/US, hotels, shops etc will NOT accept TC's for direct payment, they should always first be exchanged for cash THB in any bank

thus if you count the baht gotten, a TC will give a slightly lesser pay-out, and most likely also will incur charges to get them in the US. as always:

[GreenShone]

Any bank/bank outlets.

Some money changers accept Traveller's checks as well, specially those that are bank-affiliated.

[think_too_mut]

We are planning on using travellers checks for our next trip to Thailand (around 5,000 USD). Need to know where the best place to cash them . Prefer Bangkok-to-Surin area.

Thanks in advance for any help!

DD

20 years ago traveler checks were on decline. My (then) customer Barclays Bank canceled any more check processing equipment.

Revives some memories - someone still lives in that age.

Instead, use any UK ATM card, any time anywhere in Thailand, at a much better xchange rate.

And no guarding traveler checks in you panties or under your pillow.

[cdnvic]

Get an Amex travellers check card and withdraw from ATMs as needed at good exchange rates.

[Tinkelbell]

Don't really like TCs, you pay some %age when you buy them and often another %age when you cash them.

In my case, I never been charge % whenever I need some traverl check. I just go to my bank (Bank of America), write down a check to cash it, instead of giving me as usual cash, I would ask for travel check.

I see it fast, easy and safe.

[Tinkelbell]

Get an Amex travellers check card and withdraw from ATMs as needed at good exchange rates.

Yes, I agree.

Have been using AX TC card since last year.

Quite happy with this arrangement.

[IMA_FARANG]

We are planning on using travellers checks for our next trip to Thailand (around 5,000 USD). Need to know where the best place to cash them . Prefer Bangkok-to-Surin area.

Thanks in advance for any help!

DD

1. The best rate you will get (I'll use dollars for my example) is at $100 dollar level. You will get a lower rate for cashing $20 travellers checks, a better rate for $50 dollars checks, and probably the best rate for $100 travellers checks. The $50 and $100 rates may be the same.

2. Certain banks have an arrangement with certain issuers of travellers checks and reduce the fee to cash that issuers checks in preference to other issuers. For example, Bangkok Bank might prefer to cash one type of travelers checks and have a slightly lower fee than another type of travellers checks. You can save a little if you watch that.

3. Don't go into the high end of travellers checks. The $500 travellers checks will be hard to cash as compared to $100 travellers checks.

4. Almost always you will get the best rate in a bank. Don't cash at a money changer, unless you need the money and don't have the time to go to a bank. Never cash at a hotel, unless you are desperate for the cash.

[joeuk1]

Hsbc give premier customers travelers cheques zero comm , even if you have to pay for them you get a better rate in Thailand , and the banks only charge 30 baht for cashing them .

JB