Cash Or Cards

[Klaasvaak]

Dear all,

After searching the tv and internet i'm not sure what to do.

We are going to thailand for 2 1/2 weeks and we are staying in 2 different hotels.

Should we bring euro's in cash or should we just use the ATM machines.

My bank takes 1% for every euro i take out the atm machine and then there is the 150 bath costs of the thai bank.

The credit card costs are even higher!

I have made a quick calculation and by using the atm machines i will be looking at costs of approx. 70/80 euro's for our stay.

Due to the fact the euro has dropt already to the bath this costs for using atm are not making it any cheaper.

But, is it a smart thing to do? the hotels we are staying do have a safe and we are staying in bangkok and samui.

Please help me out with your thoughts!

[smokie36]

Check with your bank if they offer free travellers cheques. You get around 0.5 Baht better on the exchange over cash and obviously safer as well. Failing that I'd bring cash and ask the hotel reception to put it in their safe. Using foreign cards is usually too expensive.

[Klaasvaak]

using the reception safe would be better then the room safe?

Travellercheques are unfortunately not an option as our bank not issues these anymore.

Edited June 19, 2010 by Klaasvaak

[seanocasey]

bring €3000 in cash and load up your credit card do not use a overdraft, depends on credit card company.travellers cheques are also handy, hard to cash except in banks.

[cdnvic]

Traveller's checks are easy to cash, especially in tourist areas. Carrying large amounts of cash is just plain foolish.

Last time I had to deal with Amex over some stolen traveller's checks they were ready to give me a refund within half an hour. How fast do you think you would get your stolen euros returned to you?

[Klaasvaak]

we had some difficulties a few years ago in egypt with atm machines, and try to get you're mony back from banks if you cannot proof that you did not receive the cash from the machine........

So ether way you're f*cked in my opion.

can you extract mony from the bank inside with a normal bankcard? and would i have to pay the fee?

Edited June 19, 2010 by Klaasvaak

[cdnvic]

Travellercheques are unfortunately not an option as our bank not issues these anymore.

Find your closest American Express office. You don't need a bank to get traveller's checks.

[Klaasvaak]

i found a company what sells traveller cheques but they charge a 2,75% !! of the ammount plus 3,50 euro.

that way i would be even more expensive then using atm machines.

[Thai-Aust]

Bring in cash, work out how much you will need and once you get there deposit your cash in the hotel's safe if you're staying in the credible hotels. By having cash you will benefit from the exchange rates which is a lot higher than buying travelling cheque or using credit card. Also making sure you have enough cash in your bank in case you overspend your budget.

[craigt3365]

I definitely don't recommend bringing in a lot of cash (lots of reports of cash disappearing from hotel safes). A few thousand is OK, kept in your money belt at all times). After that, use the ATM. I always have 2 atm cards. Kept in separate places in case one gets lost/stolen...or there is a problem with one (which has happened several times...Ecuador, Italy, Argentina).

I would not use CCs as there is a possibility of fraud...except for purchase of flights at the airport, etc.

Travelers checks are pretty good also....easy to cash them here in Thailand and as mentioned, you get pretty good rates. I usually have $1000 of them and use them in emergencies....

[hansnl]

There are a few Dutch banks that operate a kind of service card.

Which actually means that you can use ATM's abroad and don't pay a fee for the transaction to the Dutch bank.

The ING one will cost you a few Euro every quarter, but ther are more extra's to this scheme.

However, you still have to pay the 150 baht for the Thai bank.

I do know ING has that scheme, also ABN/AMRO, and I guess RABO can't stay behind.

Have a look in their websites to find out.

If you transfer money to a Thai account from the Netherlands, transfer Euro's, don't transfer THB.

Taking out money from the ATM the rate is ok.

Take some cash with you, but do not trust hotel safes!

[sarahsbloke]

Bring 3 or 4 different credit cards.

Some companies will cancel a credit card immediately if you use it in Thailand, even if you have previously informed them of you intent.

I had 2 cancelled on me ..........

[Klaasvaak]

There are a few Dutch banks that operate a kind of service card.

Which actually means that you can use ATM's abroad and don't pay a fee for the transaction to the Dutch bank.

The ING one will cost you a few Euro every quarter, but ther are more extra's to this scheme.

However, you still have to pay the 150 baht for the Thai bank.

I do know ING has that scheme, also ABN/AMRO, and I guess RABO can't stay behind.

Have a look in their websites to find out.

If you transfer money to a Thai account from the Netherlands, transfer Euro's, don't transfer THB.

Taking out money from the ATM the rate is ok.

Take some cash with you, but do not trust hotel safes!

You're correct about the fee, we don't have to pay that, but you still pay a 1% of the excharge rate and the 150 bath for each time you take out mony.

[Jiu-Jitsu]

I recommend a mix of cash and ATM card. Just lock your cash in your luggage. Use your cash until you have access to an AEON ATM.

[cdnvic]

I can't believe the amount of people willing to risk so much cash over a small fee. I'm assuming they've never had anything stolen while travelling? Cards and traveller's checks can be replaced, cash is gone forever. You think people don't get robbed often in Thailand, and that hotel safes are secure?

The old saying "Penny wise, and pound foolish" comes to mind.

When you are listening to the police explain the above to you after your cash disappears, how terrible does that 150 baht atm fee seem?

You just spent a few thousand dollars on plane tickets, why put yourself at a risk just to penny pinch over atm and other small fees, which in the big scheme of things, adds up to a very small portion of your budget?

Security and peace of mind have value that should not be underestimated.

[craigt3365]

You are absolutely right. Thefts happen all the time. Luckily, not as much here as in other parts of the world. But it still happens here.

I travel extensively. Always carry 2 credit cards and 2 ATM cards (one Mastercard and one Visa). I always have at least a small amount of US dollars for emergencies (bribes, etc). Euros are fine, but in many places, they are still not widely accepted. The US dollar is good pretty much anywhere.

There are some banks that cover the ATM fees. Mine is one (USAA). On the credit card, I pay 1%. There are some credit cards that don't charge anything...and others that charge much more. Worthwhile to shop around if you are looking to do a lot of traveling.

When we travel, we are very aware of our surroundings. I always use a money belt. But in Portugal, on our last night of a 6 week European trip, my wife had her purse stolen. We were at a restaurant. Her back was against the wall, so hung the purse on it and kept a hand on it. Went to the bar only 1 meter away, I happened to look down at the street activity, and somehow somebody snagged it. Incredible. We saw the guy running out the door, but could not catch him. Luckily, no passports, but did lose one credit card and one ATM card...and spent hours at the police station filing a report. No fun.

Again, we are hyper sensitive to this....especially as we had encountered so many who had been robbed...but it still happened to us. And I have read many reports, some from here in Thailand, where things have been taken from hotel safes. I would not trust one for sure. Guaranteed, many employees know how to reset the code and get in anyway...

[smokie36]

I had 7000 Baht niched from a safe in Phnom Penh last year. My own fault for leaving it there. Don't make the same mistake OP. If you do leave your money in a safe make sure its not the one in your room.

[Klaasvaak]

Thanks allot guys for al the great answers, looking at that we will just bring a small amount in euro's and use our ATM cards.

I always learnd not to stash you're cash all at the same place, so we will put some in the safe but also some in the differente suitcases.

These cases are hardshells and also closed with a lock.

let's hope there will be nothing to complain at after my holiday!

[Jiu-Jitsu]

Thanks allot guys for al the great answers, looking at that we will just bring a small amount in euro's and use our ATM cards.

I always learnd not to stash you're cash all at the same place, so we will put some in the safe but also some in the differente suitcases.

These cases are hardshells and also closed with a lock.

let's hope there will be nothing to complain at after my holiday!

I would not put any cash in the safe, unless it is one you can lock with your own padlock. No chambermaid/staff member will take a chance breaking into your locked suitcase. When it comes to the safe, they have a headstart on you. Safe is good for passport and documents. Cash, keep locked in tour suitcase. Get an extra padlock if there is a lot involved.

I'm sure a few people travel with cash for reasons of 'taxation' avoidance .

Edited June 21, 2010 by Jiu-Jitsu

[bangkokburning]

TC's are a hassle and there is the tax stamp lowering the rate. If you go this route, bring big TC's AND MAKE SURE THEY ARE AMEX.

I've moved to debit cards over the years, but for two weeks and assuming your plan on spending about B1000 a day, I'd take it in large bills. I'd carry one back up debt card (use this and its B150 a pull!). Carry all valuables on you at all times! NEVER EVER trust room safes! Especially in Pattaya!

[craigt3365]

Be careful with debit cards also. They are limited to whatever daily limit the local bank has imposed. While I was in Argentina, the limit was $100/day for ATMs and debit cards! Luckily, I had 2 ATM cards...and eventually found a citibank ATM that allowed a larger withdrawal....

Wasn't it here in Pattaya somebody store the whole room safe????

[teddyboy]

Go somewhere else, this LOS (land of scams) is not the beautiful place it used to be.

[Cats4ever]

Cheques are good but the commission rate is key. You will also pay 33B per cheque duty. Rate is higher than cash. ATM and credit card exchange rate is often pretty lousy. Bank execs have to get their dough somewhere. Some cash may be OK but I would want to do it safer. Be careful of travelling debit cards also; there are some not well disclosed charges in some of them.

Edited June 27, 2010 by Cats4ever

[tomallison]

I draw cash against my Uk visa debit card at any one of the big banks in Thailand. A simple procedure with no fees and no limit on the amount of cash you require.

[SunsetT]

I draw cash against my Uk visa debit card at any one of the big banks in Thailand. A simple procedure with no fees and no limit on the amount of cash you require.

Can u tell me which banks please? Because on the couple of occasions that I have enquired about this within a Thai bank, there has been 2-3% charge, when ATM 150bht charge represents just over 1% charge on 15000 bht withdrawal.

Advice to poster: If using Aeon ATM there is no 150bht charge. See aeon.co.th or aeon.com website to find ATM locations in Bangkok and check if there are any in Samui, and where they are. Check locations of 'cash dispensers', and 'dispensers and depositors' as if there is the latter, the former will not be listed.

[tomallison]

I draw cash against my Uk visa debit card at any one of the big banks in Thailand. A simple procedure with no fees and no limit on the amount of cash you require.

Can u tell me which banks please? Because on the couple of occasions that I have enquired about this within a Thai bank, there has been 2-3% charge, when ATM 150bht charge represents just over 1% charge on 15000 bht withdrawal.

Advice to poster: If using Aeon ATM there is no 150bht charge. See aeon.co.th or aeon.com website to find ATM locations in Bangkok and check if there are any in Samui, and where they are. Check locations of 'cash dispensers', and 'dispensers and depositors' as if there is the latter, the former will not be listed.

I have used Bangkok Bank and Kasikorn Bank branches in Chiang Mai, Mae Sot and Pattaya. I have yet to encounter a Aeon ATM in North Thailand (my usual location). Even using this ATM I would pay 1% Visa fee. Why pay this?

[F4UCorsair]

If you're only going to be there for a few weeks, take cash. Use CC for hotel bills, larger purchases, but cash for the rest.

I never use CC for cash advances or take TC's any longer. I've left home with up to $5000 many times. Just be careful. If you are in company, wife/gf, split it up in two money belts and two neck pounches. I carry most money in my flat money belt, under clothes. I carry only a couple of hundred $ in my neck pouch, and small change up to $10 in my pocket. I have NEVER had a problem.

I wouldn't walk the streets at home (Australia) with 5 grand in a money belt at night, so why would I do it elsewhere? Put it in the hotel safe.

I use hotel safes and once again, never had a problem. The type where they have a key and you have a key (in the office or reception) are good, and also room safes with a combination. Room safes with a key are the least safe but I have used them many times and haven't had an issue.

I hope this helps.

Edited June 28, 2010 by F4UCorsair

[chris5346]

it depends on how good your hotels are for trusting safes etc, some areas more crime rate, i carried loads of cash and always hid it in clever places. maybe your staying in a wooden beach hut that can be riskier.

if you can get a nationwide card because they are only 1% for overseas transactions cash/purchases etc

good to have several cards incase they don't work, bring some dollars and sterling 20 pound notes.

travellers cheques i duno about - not sure if people use them here much cos it's cheap place - expensive hotels i would pay on card.

don't keep all your things together hide cards in different places - and make copy of numbers etc incase you do lose them.

if you go inside the bank or some banks have an outside kiosk with passport instead of using atm you can still get cash and not pay the 150Baht - my bank charge £4.50 for each cash withdraw so i take out large amounts at a time. nationwide and post office credit card look the best.

other choice is you can open a bank account here ! can open bangkok bank easily for 200 Baht and get a debit card - maybe they charge for using atm in different areas ?

there's always western union and tourist police can help if things go bad.

you got any questions ?

chris

[daveh]

I draw cash against my Uk visa debit card at any one of the big banks in Thailand. A simple procedure with no fees and no limit on the amount of cash you require.

Can u tell me which banks please? Because on the couple of occasions that I have enquired about this within a Thai bank, there has been 2-3% charge, when ATM 150bht charge represents just over 1% charge on 15000 bht withdrawal.

Advice to poster: If using Aeon ATM there is no 150bht charge. See aeon.co.th or aeon.com website to find ATM locations in Bangkok and check if there are any in Samui, and where they are. Check locations of 'cash dispensers', and 'dispensers and depositors' as if there is the latter, the former will not be listed.

I have used Bangkok Bank and Kasikorn Bank branches in Chiang Mai, Mae Sot and Pattaya. I have yet to encounter a Aeon ATM in North Thailand (my usual location). Even using this ATM I would pay 1% Visa fee. Why pay this?

Request an ATM card from you bank instead of a Visa debit card. This will force the request to go through Cirrus or Plus, or one of the other ATM networks instead of through Visa. The ATM cards are more secure as they cannot be used without a PIN if they are copied. The Visa debit cards can be used w/o a PIN.

[Klaasvaak]

We are staying at 5* hotels, but is that a plus for stuffing money in the safe?

I still have mixed feelings, about using atm and about using safe.

Normally we always use atm for our holiday's but at this moment the use of cash is better for the exchange rates.

I think we will be splitting it up.