Currency Advice

[peterarkle]

Hi all,

Hope someone can offer some advice please?

We are coming for 3 months and, as it is our first time in Thailand, not sure of best option with CASH, TRAVELLERS CHEQUES or ATM?

Probably a mix of all 3 would be the best option. But should we use sterling travellers cheques or US? And is cash better as crisp 20 pound notes? Using ATM with card is also a good option.

With the fluctuations with the baht which currency does anyone think will remain the strongest?

And finally (thanks for getting this far) with staying for 3 months would it be a good idea to pay for the hotel in advance by card? (Maybe 1 month).

Thanks for any thoughts you all

Bubbles and other sports!!

[Chang_paarp]

Hi all,

Hope someone can offer some advice please?

We are coming for 3 months and, as it is our first time in Thailand, not sure of best option with CASH, TRAVELLERS CHEQUES or ATM? I am not a big fan of travellers cheques, but they get a slightly better rate at some of the exchange booths than cash, for me ATM and cash, remember you are "technically" limited with the amount of cash you can take out of the UK.

Probably a mix of all 3 would be the best option. But should we use sterling travellers cheques or US? Given the way the US dollar is performing I would not touch it with your money.

And is cash better as crisp 20 pound notes?

Using ATM with card is also a good option. The Nationwide UK credit card has been mentioned favourably here as they do not charge fees for withdrawls overseas, other banks do. Do a look around this forum area for lots of information.

With the fluctuations with the baht which currency does anyone think will remain the strongest? If I knew that I would be keeping it to my self and borrowing as much money as I could, I would not be buying USD in any case.

And finally (thanks for getting this far) with staying for 3 months would it be a good idea to pay for the hotel in advance by card? (Maybe 1 month). NO!!!! Do not book that type of stay without knowing the hotel and the people. Book a couple of days or a week if you must and once you get here look at the facilities and what you can get else ware, be adventurous move around, see more of the country than one hotel. Especially if you are coming for 3 months.

Thanks for any thoughts you all

Bubbles and other sports!!

You did not mention where you are planning to stay, ie what area? 3 months is a long time, and there are lots of places to see in Thailand, so be prepared to move a little.

There are exchange booths and facilities in the banks in most medium to large towns, and the exchange rate you get here is a lot better than you will get outside Thailand so cash is useful, you also get a reasonable rate with the ATM's so don't worry too much there, it is the fees many banks at home want to charge that can be the killer, so limit your use of ATM's if you can.

Thailand is still a cash economy, so credit cards are accepted in larger establishments, many places want to charge you 3.5% for the honour, so check it may be cheaper to go to the ATM even with the fees.

Otherwise treat it as an adventure and enjoy the experience, look around and get out of the main cities to see some things you wont see at home.

Take care

CP

[naka]

Bring all three.

Use your credit/debit cards sparingly as Visa/MC attrac a 3% charge in Asia

and Amex 5% at all but the most expensive hotels.

If you are from UK then bring cheques and cash in pounds, with

cheques in 100s and cash in 50s. No need to bring small units

if you are staying 3 months.

Naka.

[chiang mai]

IF you have an account with HSBC in the UK, ask them to open a non resident account for you with HSBC Bangkok and transfer Sterling to that account. HSBC BKK will issue you with an ATM card and you could collect this as soon as you arrive. Seems like the best solution for security and convenience - simply close the account when you leave.