Atm Or Cash?

[kai2682]

I was wondering if its better to carry cash and exchange in Thailand baht there or just carry ATM card??

Do you get the same rates for ATM withdrawls as the Thai banks??

[garyh]

I was wondering if its better to carry cash and exchange in Thailand baht there or just carry ATM card??

Do you get the same rates for ATM withdrawls as the Thai banks??

It will cost you 150 Baht for every ATM withdrawal in Thailand so best to get more each time but less often. Bangkok Bank give reasonable exchange for cash http://www.bangkokbank.com/Bangkok+Bank/We...es/FX+Rates.htm

[theoldgit]

It also depends where your atm card is from, if it's from somewhere like the UK then, depending on your bank, you will more than likely pay a fee, on top of the 150 Baht imposed by Thai Banks, per transaction as well as a conversion charge of about 2.75%.

Another option, if from overseas, is travellers cheques, you have to pay a stamp fee per cheque but you will get a marginally better rate than cash, you could then use your atm card as a backup.

[eek]

If you prefer to have an atm card and plan to stay for a longer period of time, you could always open up a Thai Bank account (recommend KBank or Bangkok Bank). Transfer cash into the bank account then use the atm when needed (safer, imo, than carrying around wads of cash).

[andybangkok]

I was wondering if its better to carry cash and exchange in Thailand baht there or just carry ATM card??

Do you get the same rates for ATM withdrawls as the Thai banks??

It will cost you 150 Baht for every ATM withdrawal in Thailand so best to get more each time but less often. Bangkok Bank give reasonable exchange for cash http://www.bangkokbank.com/Bangkok+Bank/We...es/FX+Rates.htm

United Oversea Bank (UOB) do not charge 150 Bahts to foreign ATM cards. I made 5 withdrawals in the last 2 months.

[Tafia]

I was wondering if its better to carry cash and exchange in Thailand baht there or just carry ATM card??

Do you get the same rates for ATM withdrawls as the Thai banks??

It will cost you 150 Baht for every ATM withdrawal in Thailand so best to get more each time but less often. Bangkok Bank give reasonable exchange for cash http://www.bangkokbank.com/Bangkok+Bank/We...es/FX+Rates.htm

United Oversea Bank (UOB) do not charge 150 Bahts to foreign ATM cards. I made 5 withdrawals in the last 2 months.

Thai Gov Savings Bank do not charge the 150B either, but as already stated it would be wise to check what charges YOUR bank will charge for use of the ATM abroad.

[gunnyd]

As long as you have a descent money belt, and don't carry all of your cash around wherever you go IMHO cash is the better choice. ATM withdrawals even when you use a Thai ATM machine that charges no transaction fee will cost you. E.G. my bank charges $5 for each cash withdrawal from a foreign bank and a 2% currency conversion fee.

[Emster23]

I was wondering if its better to carry cash and exchange in Thailand baht there or just carry ATM card??

Do you get the same rates for ATM withdrawls as the Thai banks??

Not a good idea to carry cash. Most atm machines now have a fee of 150 baht for using them!!!! However (figure the logic in this) if you go into the bank and use your card to get a cash advance, dealing with a living person, there is no fee. I live here and this is what I do, drawing the money from my US bank.

[smokie36]

If you prefer to have an atm card and plan to stay for a longer period of time, you could always open up a Thai Bank account (recommend KBank or Bangkok Bank). Transfer cash into the bank account then use the atm when needed (safer, imo, than carrying around wads of cash).

For my three month trip later this year I plan to bring large denomination travellers cheques then deposit them in a thai bank account.

Hopefully the only charge will be the nominal fee per cheque.

Transferred some money into a thai bank account earlier this year and the fee was £40 at the UK end no idea if a fee was applied by the thai bank.

[Groongthep]

United Oversea Bank (UOB) do not charge 150 Bahts to foreign ATM cards. I made 5 withdrawals in the last 2 months.

Correct. UOB Bank in Thailand does not charge the 150 baht fee for using their ATMs. Your bank will most likely charge a fee for using another bank's ATM and maybe even a foreign conversion fee as well. Check with your bank for details of what they'll charge.

Travellers checks are a good safe option but can be a hassle with the filling out of forms and having to produce your passport every time you exchange one. Carrying large sums of cash is unwise IMHO.

[Birdman]

I was wondering if its better to carry cash and exchange in Thailand baht there or just carry ATM card??

Do you get the same rates for ATM withdrawls as the Thai banks??

Not a good idea to carry cash. Most atm machines now have a fee of 150 baht for using them!!!! However (figure the logic in this) if you go into the bank and use your card to get a cash advance, dealing with a living person, there is no fee. I live here and this is what I do, drawing the money from my US bank.

This can be done at many bank exchange boots with Visa and Master Card and the passport.

[adammike]

My bank charges Euro2:50 for every withdrawa,l then there is any % they add on and that is not really obvious from your bank statments.

add on the baht150 you are looking at maybe Euro8 for each withdrawal.use a creditcard to get cash add another 3euro.

Cash is king but you have the worry about theft I shall bring so as much cash as i dare, some TCs and try to limit the ATM use.

Though if you are a party animal it may be better to only take cash from the ATMs.

[Mighty Mouse]

Choose a hotel that has available security boxes.

Take cash and convert to baht.....or

take credit/debit card to bank and get a cash advance against your account in farangland. (check farangland fees.)

Keep excess cash in security box. Carry only what you might need for one day/night.

Best solution of all if you plan to revisit LOS on a regular basis:

Open a Thai bank account and forward money from farangland when exchange rates are favourable.

Obtain a ATM card from your Thai bank.

[balo]

Thanks to ThaiVisa I'm only using UOB ATMs in Bangkok. And theres plenty of them around. No fee

[gtonsaffron]

I was wondering if its better to carry cash and exchange in Thailand baht there or just carry ATM card??

Do you get the same rates for ATM withdrawls as the Thai banks??

You need both mate, but not to much in cash. Ok its safe carrying it around but what about when you have a guest back to your room, be very careful. Take an ATM card and yes find the non charging 150Bhat banks, the ones that charge as has been aired on this site are just banother Thai rip off. As for ATM card and you being from the UK you need to get a Nationwide Flex Account. This card was the only card in the UK that had no charges for years. Now it charges 1% as of July 09, but its still good and all seasoned UK travelers use it. I got 2 in 2 different accounts just in case, cheers garry

[samui04]

I was wondering if its better to carry cash and exchange in Thailand baht there or just carry ATM card??

Do you get the same rates for ATM withdrawls as the Thai banks??

Not a good idea to carry cash. Most atm machines now have a fee of 150 baht for using them!!!! However (figure the logic in this) if you go into the bank and use your card to get a cash advance, dealing with a living person, there is no fee. I live here and this is what I do, drawing the money from my US bank.

You mean using the ATM card (Cirrus usually) in the bank?

Any credit card used for cash advance will incur in a very bad exchange rate....

[lopburi3]

Any credit card used for cash advance will incur in a very bad exchange rate....

Are you sure about that? I don't use but believe the exchange rate used would be the same rate use for any transaction on that card. What you do get hit with is the normal currency conversion percentage charge - and using credit card rather than debit card you would have interest charges until paid.

[torrenova]

I would check out the statements about being able to use your bank card to withdraw money over the counter without charge. I have never done this but I know that Thais even think their Visa backed Thai debit cards attract a 3% or so commission as they cannot distinguish between them and credit cards.

As previously mentioned, Thai banks can open accounts fairly easily, especially if on a non imm visa and there are no statements.

Obviously these ATM charges worry people who draw out small sums rather than the maximum. On Bt25,000, the Bt150 is 0.6%. If you keep drawing Bt5000 from the ATM then it is obviously a more worrying 3%. Then again, why would someone withdraw only Bt5000 ?

[smokie36]

I would check out the statements about being able to use your bank card to withdraw money over the counter without charge. I have never done this but I know that Thais even think their Visa backed Thai debit cards attract a 3% or so commission as they cannot distinguish between them and credit cards.

As previously mentioned, Thai banks can open accounts fairly easily, especially if on a non imm visa and there are no statements.

Obviously these ATM charges worry people who draw out small sums rather than the maximum. On Bt25,000, the Bt150 is 0.6%. If you keep drawing Bt5000 from the ATM then it is obviously a more worrying 3%. Then again, why would someone withdraw only Bt5000 ?

I'm a tad confused by this.

Are you saying that thai issued cards also attract a 150bt fee?

I thought this only applied to foreign cards.

[Mighty Mouse]

Any credit card used for cash advance will incur in a very bad exchange rate....

There is no exchange rate if you are in Thailand and you ask for Thai currency. At the Thailand end there will be a small fee.

At the Farang bank end there will be a cash advance fee.

You need to check these fees with your Farang bank, compare them to other means of obtaining spending money (travelers chqs, taking cash, ATM's etc.) and make a decision on costs, ease of obtaining cash, safety etc.

Having a Thai bank account will always be the cheapest, easiest and safest way to access your money.

[david96]

Can anyone verify that the 150THB fee charged by Thai Bank ATMs on foreign cards

apply to all countries or only certain US and UK cards.

Aust. card holders are already charged a fee, AUD$5 plus 2% of the transaction

value, (ATM card -- Cirrus )

For CCs -- Visa, International Transaction Fee 2.95%, Cash advance fee at an

overseas terminal or bank, $4 or 1.25% of cash advance amount (whichever is the

greater)

These charges are itemised on your Bank Statement.

Source: Commonwealth Bank of Australia. Fees and Charges, 27/02/2009.

Edited July 16, 2009 by david96

[bubba]

Simply put - you have to enquire with your ATM card bank to determine what you will be charged. I have an account (an ATM debit card, not a credit card) that guarantees no charges at their end, and they refund any charges made at the ATM end. Exchange rates are excellent - better than the cash exchange rate. Plus it is so much more convenient, not only because you are not carrying a bunch of bank notes around, but also because ATMs are everywhere and it's much faster than exchanging notes.

Simple answer: ask your bank about their charges and exchange rate policy.

[david96]

Australia. Bank CBA

Example. On a particular day one withdraws 20000THB from a Bangkok Bank ATM,

The FX rate at that time was 25.0THB to the AUD.

The transaction would show as follows on ones bank statement.

Withdrawal BBL 20000THB / 800AUD

Overseas Withdrawal Fee 16AUD

With a Visa CC,

Withdrawal BBL 20000THB

International Transaction Fee 23.60 AUD

Cash Advance Fee 10AUD

From the above it costs 16AUD using a ATM Cirrus card.

Using a CC Visa it costs a total of 33.60AUD.

Those charges apply whether at a ATM or at the FX counter of the Bank.

Compare this with an Internet IMT, which costs 22AUD per transaction.

If the BBL were to charge the 150THB fee at source the transactions would cost 6AUD

more.

If so I am going to make some enquires at my Australian Bank, the last transaction I did in Thailand was in January 2009.

[bubba]

Australia. Bank CBA

Example. On a particular day one withdraws 20000THB from a Bangkok Bank ATM,

The FX rate at that time was 25.0THB to the AUD.

The transaction would show as follows on ones bank statement.

Withdrawal BBL 20000THB / 800AUD

Overseas Withdrawal Fee 16AUD

With a Visa CC,

Withdrawal BBL 20000THB

International Transaction Fee 23.60 AUD

Cash Advance Fee 10AUD

From the above it costs 16AUD using a ATM Cirrus card.

Using a CC Visa it costs a total of 33.60AUD.

Those charges apply whether at a ATM or at the FX counter of the Bank.

Compare this with an Internet IMT, which costs 22AUD per transaction.

If the BBL were to charge the 150THB fee at source the transactions would cost 6AUD

more.

If so I am going to make some enquires at my Australian Bank, the last transaction I did in Thailand was in January 2009.

Right, but that information doesn't matter to the OP or any of the rest of us unless we are using an Australia Bank ATM with the same account type as yours. We could all post what we individually get, but it doesn't matter to anyone else. Here's what I pay for ATM transfers in Thailand drawn on my foreign account: 0

To answer this question, the OP needs to call his bank and enquire about their charges and policies.

[david96]

All banks have fees and charges for their services, these fees refer to one particular bank and apply to ATM and Credit Cards that operate on savings and current accounts.

Fees do vary slightly between banks,and the information supplied originates from a document

"General Information and Terms and Conditions" dated 30 March 2009 issued by the Commonwealth Bank of Australia.

The CBA is one of the four largest banks in Australia.

I think you will find that most banks in any country have fees and charges when their cards are used in banks and ATMs outside their own country.

I noticed that you have not stated the name or country of your bank.

TV members may wish to compare fees with their own banks, perhaps in the UK, Singapore,

US etc.

One may well be reimbursed for the 150THB fee in Thailand by ones own bank, it is this which I intend to find out as many Australians travel to Thailand.

[erikr_]

What is the rate you get for TC compared to Cash?

In dubio if I will take TC or Nationwide cash card. Anyone experience with both and can give indication what is best option?

[smokie36]

What is the rate you get for TC compared to Cash?

In dubio if I will take TC or Nationwide cash card. Anyone experience with both and can give indication what is best option?

Changing a TC gives usually aroud 0.5bt/£ better rate than cash but no idea how this compares to Nationwide.

When I transferred money from the UK in June rate was 55bt/£ with Barclays which I thought was reasonable.

Check with Nationwide but I guess its variable.

[Dave the Dude]

JUST A SMALL POINT.

Its also worth checking with your credit card company (before you travel overseas )how much IN CASH you will be allowed to

withdraw, as this figure is usually lower than your credit limit.

Dave

[ELVIS790]

iNFORM YOUR U.K. bank that you will be using your card abroad as there are LOTS of storys with ATM's swallowing the cards, Barclays being the No.1 offender. I usually take a mixture of cash, TC and ATM for emergancys, but with me planning to spend alot of time there this next 2 years i shall be getting a pre-loaded international credit card. It costs nothing to use for purchases and nothing, yes NOTHING to use at ATM's unless you use a ATM in the U.K..

Just google for pre-paid credit cards, theres a vast choice out there at the moment.

[david96]

It would appear that if the 150THB fee is deducted at source, ie , at the Thai bank ATM there is no chance of a refund by your home bank. If it appears on your home bank statement as a bank fee or charge you may get a refund from your home bank. Note the word "may".

But like many charges and fees as they are levied by the foreign countries bank one can do little about it.

Cash, TCs and/or a Thai Bank account, and transfer funds by internet banking from your home bank is the obvious alternative.