Safest Method To Get Your Money

[DONEWITHIT]

I've been reading all the atm posts not just on Thai Visa but many websites pertaining to Thailand.Pretty frightening as I'm not wealthy and the thought of losing as much money,for years or for good,as many posters write of makes one wonder just what is the safest method of bringing your money from overseas into your pocket in Thailand.Many excellent posters are out there with so many different methods.I don't care for the flaming that sometimes happens but it's not going away either.Of course you always hear the negative aspects much more than the positive ones because people generally want to warn and be warned.I wish there were some kind of poll showing what the majority think is the safest method for the individual staying for good.I realise there is nothing foolproof anywhere but here goes with what I'm thinking may be safe but quite time consuming.

Swift wire transfer the money(under $10,000) from your home bank,via telephone for extra safety(this has to be set up in advance of coming to Thailand),to a Thai account with a bank you're comfortable with,preferably the main or a large branch developing relationships which could be beneficial if problems would arise.

Obtain an ATM card from your bank and instead of using an atm machine,with all of the associated problems and fears,take your passbook(& or card) and stand in line to do the transaction at the teller.I would assume the transaction would always be on camera.Maybe walking out with a larger sum of money from the main branch gives one a more secure feeling than a small branch in Huay Kwang and the feeling of not being as noticeable also.

If you don't have a direct line internet connection it seems as though there are just as many horror stories about doing anything associated with ones finances at internet cafes and wireless internet.Telephone banking at that juncture would seem the safest until a direct line was at your disposal.

Set up a bill pay with your credit card(from your home country) that can be done by telephone.Yes a more expensive alternative but pretty safe.

That being said have a few Atm cards and credit card for any emergencies that might arise.

Obviously I'm a new poster and would appreciate other members comments.I am referring to what might be the safest way to get money in your hands and not the cheapest.Thanks All

[Mobi]

If you are visiting Thailand fora short period then clearly travellers cheques is by far the safest method of bringing money into the country, and arguably, the cheapest, as you get a better rate for TC's than cash, but you do have to pay commission, sometimes at both ends of the transaction.

If you are living here, then SWIFT transfers from and to a reputable bank (I use Barclays, & Abbey Int'l in the UK and Kasikorn Bank in Thailand) via TELEPHONE instructions is the way to go.

I have been doing it for years with virtually no problems. I have a good relationship with Kasikorn Foreign Exchange Dept at their head Office and if I am transferring in excess of 10,000 pounds they always call me to negotiate the best rates.

Only once did I have a small problem when the transfer did not appear to have arrived. I checked back to my UK bank and they assured me it was sent. After a week or so they advised me that the transfer had been sent in Thai Baht which was contrary to my instructions. The transfer eventually arrived in my account after about 2 weeks, and of course I had lost a lot on foreign exchange as the bank had purchased Thai Baht in the UK. I complained and they checked my telephoned instructions on the tape and admitted it was their mistake and credited me with the amount I had lost due to difference on exchange plus some interest. Fortunately I am always VERY CLEAR with my instructions - especially the part about sending the money in pounds sterling.

I have never had any problems from the Thai end, they couldn't be more professional and helpful.

[Soutpeel]

The safest method in my opinion is not having any signifcant amounts of money in Thailand, other than what is absolutely required.

Personally I operate in Thailand out of my offshore account in Singapore, my ATM withdrawals are free in Thailand, except when drawing a SCB, which is THB 20,00.

The banks in Singapore are the most professional I have ever been involved with (far better than banks I have tried to deal with in the UK and US) Customer service is excellent and all instructions I give them are effected correctly.

For basic banking functions, ie withdrawing money from an ATM, Thai banks are ok, but when you starting getting into quite complex international transactions, Thai banks can leave a lot to be desired

[thaihome]

Wonder where the poster is getting the idea that using an ATM in Thailand is anymore unsafe then anywhere else in the world?

The safety rules for using an ATM are the same everywhere and the precautions should be used in Thailand as you do in your home country? Do you stand in front of an ATM in your home country and invite people to watch you put in the PIN? Would you use an ATM in a crowded, less then desirable area, frequented by whores and drunks, in your own country?

TH

[easyride]

Best way to KEEP it is to avoid Thais