Advice On Handling Funds For Deposit?

[timballwiz]

First, my apologies if this is answered elsewhere on the forum... I've spent some time searching and haven't come up with anything.

I'll be moving to Bangkok from the U.S. in the next week, already have a job and my work visa, and will stay in a serviced apartment set up by my company for the first month. But I'll start looking for a more permanent condo quickly.

My question is this: With the equivilant of three months rent due upon signing a lease at most places, what's the best way to handle those funds? I'll have all of my money in my U.S. bank account when I move, and I won't get a paycheck (and open a Thai bank account) for more than a month after I arrive. I don't particularly want to bring over thousands of U.S. dollars in cash, just for safety's sake. But I've also got a relatively low daily-withdrawl limit on my debit card (300 USD).

Wire transfers from my U.S. account apparently won't work, as I have to do those in person with my bank in the states. So, I'm not sure what my options are, beyond taking out the maximum allowed from an ATM each day 'til I've accumulated enough to pay the deposit. But that could take too long, depending on how much I'm spending... Any thoughts from those who have been through this before? Thanks in advance!

[Tywais]

What I did was to bring over enough in travelers checks to hold me over until my salary started coming in. Quite safe this way and traveler checks give you good conversion rates though there is a small charge in purchasing them.

//edit - forgot to mention that you can open a bank account here and deposit the travelers checks right away so you don't have to carry them around. Then get an ATM card from the bank for local expenses.

Edited August 11, 2007 by Tywais

[ProThaiExpat]

Some financial institutions provide good customers free traveler's checks, if not to you, consider comparing the cost of the travelers checks against wiring yourself money via Western Union, they have many branches in Thailand and you can pick up your money at any time.

[timballwiz]

Thanks much for the advice... I went ahead and picked up some travelers' checks from my bank today. That seems like the way to go.