Best Way To Bring Money For A Vacation

[Pudgimelon]

Hi all,

My ex-girlfriend is coming here for a vacation and to visit some long, long distant relatives up in Laos (she's Hmong). She's been asking me about the best way to bring money, but it's been such a long time since I actually vacationed anywhere outside of Thailand that I really don't know what is the best way to bring money here for a holiday.

Should she bring all of it in traveller's checks? What's the fee on those things these days?

Should she just bring a little bit of cash and an ATM card? What's the bank fee on ATM card withdrawls made here?

Should she do some combination of both?

I'm recommending that she do most of her shopping on credit cards so she doesn't end up getting socked with a double-whammy by having money left over at the end of her trip and having to pay another exchange fee to get back her dollars. Is that the right thing to do?

[britmaveric]

Travelers cheques - safest way to keep your dosh.

ATM - my bank doesnt charge foreign transactions, she needs to check her bank. Viable, but what happens if lost or stolen?

Credit Card - normally stores charge 1% transaction fee for use of credit. Some cc firms even penalize you for overseas transactions. (should check her issuing banks policies)

I normally use atm, credit, cash, and travelers cheques. Flexibility is the key and not putting all your eggs in one basket.

Edited December 20, 2005 by britmaveric

[jing jing]

Nowadays, as you're probably aware, the major credit card issuers are hammering folks who travel internationally and purchase goods and services in foreign currencies with a 3% fee. I was told this fee is levied to defray the expense of converting from the foreign currency to dollars. Whatever, it's a recent development and it really p!sses me off.

Some banks will differentiate between ATM transactions and credit card purchases and only charge 1% for the ATMs. Your ex should make a phone call to find out her bank's policy.

Most places in the Kingdom charge 3% on travellers checks and give a better exchange rate on $100 checks.

I would bring $500 in TC's in case of emergency (like a lost ATM card) and get the rest from ATMs. If the bank charges a fee per ATM usage then obviously it's best to withdraw the largest amount possible at one time, usually about 20K baht.

[Pudgimelon]

OK, so she'll probably need to bring:

$50 in cash for fees (the Laos visa fee needs to be paid in American dollars)

at least $200 or more in traveller's checks.

her ATM card

and her credit cards.

she'll be staying with me while in Bangkok and with her relatives while up North, so her living expenses will be quite low. Mostly she'll just need money for gifts, shopping, and food/travel.

[evadgib]

OK, so she'll probably need to bring:

$50 in cash for fees (the Laos visa fee needs to be paid in American dollars)

at least $200 or more in traveller's checks.

her ATM card

and her credit cards.

she'll be staying with me while in Bangkok and with her relatives while up North, so her living expenses will be quite low.  Mostly she'll just need money for gifts, shopping, and food/travel.

<{POST_SNAPBACK}>

Sterling travellers cheques go a lot further.

[Pudgimelon]

Sterling travellers cheques go a lot further.

<{POST_SNAPBACK}>

They probably do, but I doubt that's a convenient option for an American.

[evadgib]

Sterling travellers cheques go a lot further.

<{POST_SNAPBACK}>

They probably do, but I doubt that's a convenient option for an American.

<{POST_SNAPBACK}>

Why not? they'll save a few quid!

[britmaveric]

Sterling travellers cheques go a lot further.

<{POST_SNAPBACK}>

They probably do, but I doubt that's a convenient option for an American.

<{POST_SNAPBACK}>

Why not? they'll save a few quid!

<{POST_SNAPBACK}>

Only works if you have your dosh in sterling.....

[Boon Mee]

Definitely ATM card.

[Joey Boy]

Definitely ATM card.

<{POST_SNAPBACK}>

yep, I dont see the point in pissin about with travelers cheques either, provided your banks policy on foreign ATM withdrawls arent to harsh

[britmaveric]

Definitely ATM card.

<{POST_SNAPBACK}>

yep, I dont see the point in pissin about with travelers cheques either, provided your banks policy on foreign ATM withdrawls arent to harsh

<{POST_SNAPBACK}>

If you lose your ATM or its stolen then you are fked.

[Jeff1]

Definitely ATM card.

yep, I dont see the point in pissin about with travelers cheques either, provided your banks policy on foreign ATM withdrawls arent to harsh

If you lose your ATM or its stolen then you are fked.

I agree with that .

Your flexablity statment is really the best . Most of my money is in travelers checks . True it is not fun playing around with banks and there is a fee but I do feel its safer and harder to loose even around the house or hotel .

I do keep some money in ATM for a emergancy(s) . Also a fee , actually I get charged from the ATM machine and from my bank for not using their ATM machine . Not easy to find my home bank in Thailand .

Cash good in medium sized quanitys , also a fee . Also banks get pretty snooty about old , worn or strange markings on bills . Bring new bills and don't forget your passport .

[mraitchison]

A while ago during one of my more amusing periods I was reading the Lonely Planet forum when I saw somebody asking if there was any cash machines in Pattaya should they bring Travellers Cheques cash or a mix of both.

Some goody two shoes told them that there were lots of cash machines in Pattay and they needn't worry about brining cash or TC.

I decided that I would be helpful and warn them that nearly all the cash machines in Pattaya had card scanners on them and that they would get ripped off by people if they used there cash cards.

I recommended carrying only cash as it was easy to keep on your person.

Needless to say my inbox was filled with complaints from people for bad advise.

Which reminds me of the man wanting advise for canoeing down the Maekong and I warned him about the salt water crocs that lived there.

But that is another story.....

[Soju]

Definitely ATM card.

<{POST_SNAPBACK}>

yep, I dont see the point in pissin about with travelers cheques either, provided your banks policy on foreign ATM withdrawls arent to harsh

<{POST_SNAPBACK}>

If you lose your ATM or its stolen then you are fked.

<{POST_SNAPBACK}>

I agree with that .

Your flexablity statment is really the best . Most of my money is in travelers checks . True it is not fun playing around with banks and there is a fee but I do feel its safer and harder to loose even around the house or hotel .

I do keep some money in ATM for a emergancy(s) . Also a fee , actually I get charged from the ATM machine and from my bank for not using their ATM machine . Not easy to find my home bank in Thailand .

Cash good in medium sized quanitys , also a fee . Also banks get pretty snooty about old , worn or strange markings on bills . Bring new bills and don't forget your passport .

<{POST_SNAPBACK}>

Any idea on what the difference is in the fees between travelers checks and cash? I used to travel to the Philippines where cash is king and travelers checks are a pain to cash and get a much lower rate so I got used to only using cash. But on my last trip to Thailand I noticed that travelers checks get a better rate than cash, and there was a notice that there was some small fee (I think maybe 30 baht) per check cashed. I'll be bringing in several thousand dollars, and the only option for me is either USD (in $100 bills) or travelers checks. My Korean ATM card does not work outside of Korea.

So will I get the best rate using travelers checks as I thought, or are there some extra hidden fees that aren't shown on the money exchange board?

I see mentioned in this thread that they charge a rate of 3% and that $100 travelers checks get the best rate, but I don't recall the rate above the standard exchange rate being that much...more like 1% if I recall, but I didn't really pay close attention. And I didn't see any mention of the denomination of travelers checks. I did see a different rate for smaller denominations of currency, but not for travelers checks. I'm planning on bringing in $1000 denomination checks. Will this be good?

[evadgib]

Only works if you have your dosh in sterling.....

<{POST_SNAPBACK}>

A considerable number of people worldwide use TC's in a currency foreign to their own. I accept that the OP may not benefit my initial reply but I hope that some of the other readers might.

[evadgib]

If you lose your ATM or its stolen then you are fked.

<{POST_SNAPBACK}>

Agreed, but cards/travel docs can be insured by most high st banks for around 20 quid per year. Expats need a postal address in their contry of origin in order to qualify.

[Cpt_M0ney_Sh0t]

A while ago during one of my more amusing periods I was reading the Lonely Planet forum when I saw somebody asking if there was any cash machines in Pattaya should they bring Travellers Cheques cash or a mix of both.

Some goody two shoes told them that there were lots of cash machines in Pattay and they needn't worry about brining cash or TC.

I decided that I would be helpful and warn them that nearly all the cash machines in Pattaya had card scanners on them and that they would get ripped off by people if they used there cash cards.

I recommended carrying only cash as it was easy to keep on your person.

Needless to say my inbox was filled with complaints from people for bad advise.

Which reminds me of the man wanting advise for canoeing down the Maekong and I warned him about the salt water crocs that lived there.

But that is another story.....

<{POST_SNAPBACK}>

You may have gotten complaints but you wouldn't have gotten one from me after 3 years in Thailand every time I come back I carry cash, and lots of it. But thats what works for me. I would not advise my mom to do the same.

[gburns57au]

Credit cards for me.....BUT....dont carry it around when not needed, Use it to withdraw enough for 4 or 5 days and then put it somewhere secure...There is usually a foreign transaction fee but this is offset somewhat because the conversion is usually done when the transaction comes back to your home country resulting in a better exchange rate.

Also remember if you withdraw enough for 4-5 days to also secure that and only take what you need for a single day. You could take some home currency to use as emergency money if you fell you need to.

I believe that $100 US notes are not always accepted due to previous forgery scams, Not sure how that stands now.

Edited December 21, 2005 by gburns57au

[mraitchison]

They don't accept scottish pounds here either - had to go to the send the missus to the black market money shop.

They have a different reate in Saudi Airport for them.

Stupid bastards

[stumonster]

I believe that $100 US notes are not always accepted due to previous forgery scams, Not sure how that stands now.

I don't think the USD is the best currency to carry anymore because of the amount of forging of it - most banks will not accept certian series of serial numbers any more.

I rely mainly on my HSBC ATM - it costs me 8 SGD per withdrawal , so if I take out 25k THB at a time its less than 1% charge.

I have an australian credit card which I can use for cash advances if I lose or have a problem with my HSBC card , and a stash of SGD for last resort.

using credit cards for shop purchases is an activity I would consider quite risky - as the battery powered mag strip scanners abound - though you do have the ability to dispute the charge and the onus is on the banks to prove you made the purchase.

[gburns57au]

using credit cards for shop purchases is an activity I would consider quite risky - as the battery powered mag strip scanners abound - though you do have the ability to dispute the charge and the onus is on the banks to prove you made the purchase.

Definately use cash for everything......more bargaining power to start with.

last thing you need is to get home and find that you have been charged 20,000 baht for something you never bought. Dont purchase from a shop that uses an old swipe machine unless you have the cash.

The onus is not on the banks at all....you would have to provide evidence that you could not have possibly made the purchase in question. your card is your responsibility not the banks.

If you deal only in cash with retailers, then there is no way you can be ripped off, using the Visa card for periodic transactions and then using cash for purchases, as long as you maintain good card security is as safe as houses.

having said that I got complacent and got my pocket picked....I caught the girl who did it and gave her a right jab to the chin when she attacked me....I still lost 5000 baht and spent 4 hours in the cop shop and still had big explains to the missus....

Edited December 21, 2005 by gburns57au

[jing jing]

I see mentioned in this thread that they charge a rate of 3% and that $100 travelers checks get the best rate, but I don't recall the rate above the standard exchange rate being that much...more like 1% if I recall, but I didn't really pay close attention.  And I didn't see any mention of the denomination of travelers checks.  I did see a different rate for smaller denominations of currency, but not for travelers checks.  I'm planning on bringing in $1000 denomination checks.  Will this be good?

<{POST_SNAPBACK}>

In Bangkok I've been able to cash TCs for 30 baht each at the bank (SCB), but in more remote places like Koh Tao they charged 3%. I am not 100 percent sure that $100 TCs get a better exchange rate like bank notes do.

I've never heard of a $1000 denomination TC, however it doesn't sound like a good idea unless you're planning on buying yourself a motorbike instead of renting...

[britmaveric]

I believe that $100 US notes are not always accepted due to previous forgery scams, Not sure how that stands now.

I don't think the USD is the best currency to carry anymore because of the amount of forging of it - most banks will not accept certian series of serial numbers any more.

I rely mainly on my HSBC ATM - it costs me 8 SGD per withdrawal , so if I take out 25k THB at a time its less than 1% charge.

I have an australian credit card which I can use for cash advances if I lose or have a problem with my HSBC card , and a stash of SGD for last resort.

using credit cards for shop purchases is an activity I would consider quite risky - as the battery powered mag strip scanners abound - though you do have the ability to dispute the charge and the onus is on the banks to prove you made the purchase.

<{POST_SNAPBACK}>

Never had a problem with yank $50, or $100 since they have the oversized heads, colours, watermark, hologram, and course the silver threads in the paper.

[gburns57au]

I see mentioned in this thread that they charge a rate of 3% and that $100 travelers checks get the best rate, but I don't recall the rate above the standard exchange rate being that much...more like 1% if I recall, but I didn't really pay close attention.  And I didn't see any mention of the denomination of travelers checks.  I did see a different rate for smaller denominations of currency, but not for travelers checks.  I'm planning on bringing in $1000 denomination checks.  Will this be good?

In Bangkok I've been able to cash TCs for 30 baht each at the bank (SCB), but in more remote places like Koh Tao they charged 3%. I am not 100 percent sure that $100 TCs get a better exchange rate like bank notes do.

I've never heard of a $1000 denomination TC, however it doesn't sound like a good idea unless you're planning on buying yourself a motorbike instead of renting...

TC's are old hat now and I reckon that they will become extinct eventually...the advent of online banking and credit cards will see to that....If you want to take emergency money then take it in your home currency and again!!!......secure it somewhere separate from your spending dosh.

[britmaveric]

I see mentioned in this thread that they charge a rate of 3% and that $100 travelers checks get the best rate, but I don't recall the rate above the standard exchange rate being that much...more like 1% if I recall, but I didn't really pay close attention.  And I didn't see any mention of the denomination of travelers checks.  I did see a different rate for smaller denominations of currency, but not for travelers checks.  I'm planning on bringing in $1000 denomination checks.  Will this be good?

<{POST_SNAPBACK}>

In Bangkok I've been able to cash TCs for 30 baht each at the bank (SCB), but in more remote places like Koh Tao they charged 3%. I am not 100 percent sure that $100 TCs get a better exchange rate like bank notes do.

I've never heard of a $1000 denomination TC, however it doesn't sound like a good idea unless you're planning on buying yourself a motorbike instead of renting...

<{POST_SNAPBACK}>

TC's are old hat now and I reckon that they will become extinct eventually...the advent of online banking and credit cards will see to that....If you want to take emergency money then take it in your home currency and again!!!......secure it somewhere separate from your spending dosh.

<{POST_SNAPBACK}>

Might be right Amex has a travelers cheque card that works like an atm/credit card - top it off ect, unfortunately don't have any major networks tied to it, so in thailand - can only use it at a few spots in BKK, nowhere else.

[Gumballl]

I have recent experience using a Bank of America ATM card in Thailand... the fees for withdrawing 20K Baht (about $485) was $5 and an additional 1% fee for the FTF (foreign transaction fee). This essentially amounts to a 2.03% fee for the entire transaction.

This seems better than travellers checks (which I believe the fee is at 3%) and the exchange rate is not as good. Nevertheless, it is probably a good idea to carry about $500 in travellers checks for that unexpected emergency. If you do not use them on your trip, you can always use them back in your own country. (Beware that cashing travellers checks in Thailand require a passport, unlike in the US where no ID is required!).

By the way, when I was visiting Korat, it was hard to find an ATM that would dish out more than 10K baht. Therefore, the fee percentage for this "small" transaction would be 3.05%.

One thing that does blow with BofA, is that the $5 fee is charged regardless of the type of transaction (even if peforming a balance check). If the transaction fails, say when trying to withdraw more dosh than the ATM supports (or that is in your account), you are still charged this fee! What a ripoff.

[gburns57au]

One thing that does blow with BofA, is that the $5 fee is charged regardless of the type of transaction (even if peforming a balance check).  If the transaction fails, say when trying to withdraw more dosh than the ATM supports (or that is in your account), you are still charged this fee!  What a ripoff. 

Yeah I found this as well....had to tell my girl...."dont check the bank, I will tell when and what you can withdraw"....I do that by SMS......hehehe

[MikeRay]

I tried all the above mentioned, and for myself cash only.And then on my Thai account.

The banks charge too much when changing money and it happened to me twice that the atm didn´t return my card.I had nice 3 days without money untill I got a new card.

[karazyal]

I see mentioned in this thread that they charge a rate of 3% and that $100 travelers checks get the best rate, but I don't recall the rate above the standard exchange rate being that much...more like 1% if I recall, but I didn't really pay close attention.  And I didn't see any mention of the denomination of travelers checks.  I did see a different rate for smaller denominations of currency, but not for travelers checks.  I'm planning on bringing in $1000 denomination checks.  Will this be good?

<{POST_SNAPBACK}>

In Bangkok I've been able to cash TCs for 30 baht each at the bank (SCB), but in more remote places like Koh Tao they charged 3%. I am not 100 percent sure that $100 TCs get a better exchange rate like bank notes do.

I've never heard of a $1000 denomination TC, however it doesn't sound like a good idea unless you're planning on buying yourself a motorbike instead of renting...

<{POST_SNAPBACK}>

TC's are old hat now and I reckon that they will become extinct eventually...the advent of online banking and credit cards will see to that....If you want to take emergency money then take it in your home currency and again!!!......secure it somewhere separate from your spending dosh.

<{POST_SNAPBACK}>

I've never paid more than 33 baht to cash a Travellers Check anywhere in Thailand. You do get a little more return with a TC than plain ordinary cash - but it is just a fraction of a baht more.

The best thing about Travellers Checks is that can be replaced if they are lost or stolen. You do have to keep a record of the serial numbers somewhere. Even better if you get the TC's free through a credit union back home before you leave on your trip!

[Veritas]

The onus is not on the banks at all....you would have to provide evidence that you could not have possibly made the purchase in question. your card is your responsibility not the banks.

Of course the onus is on the banks, without your signature they haven't got a leg to stand on, why do you think they are so keen on Chip&Pin?

Veritas