Arriving Soon - Need Advice Best/cheapest Way To Pay Dental.

[IBoldnewguy]

I'll be arriving BKK 3/13 - I need dental work and have it all arranged - they accept cash, credit card or wire tranfer - Ideally I would use my Charles Schwab as a credit card - but on a previous trip it was declined at the hotel (no problem at ATMs) so I used another and when I tallied out the conversion the Thai Bank gave me a rate about 2 baht below going rate - plus CC charged a 2% fee so totaled that was about a 8-9% increase to my original charge (fortunately it was a small original charge). Is this the norm?

I'm looking into wire transfer but not sure what's best and/or secure (70 and never did a wired transfer-received a few in my younger days but that's another story).

Could carry 4k cash but still have to convert to baht.

So looking for some suggestions - the reason I have a Chas Schwab and know about Aeon ATMs is because of posts on this site - last trip that saved me a nice amount (what I did with the savings is also another story).

I can pay the fees but that's close to extortion. This is a one time deal so don't want to complicate. Thanks in advance for input.

[craigt3365]

I brought in 5k cash my last trip. Exchanged it on Gold street on 2 different visits. Easy. And if I am not mistaken, you get the best rate that way???

For better answers, let's try this over in the Banking forum.

Topic Moved.

[smokie36]

If you can get free travellers cheques from your bank then you usually get a better rate for them in Thailand than cash.

Also they are much safer.

Edit: Forgot to say...this only works with the largest denomination cheques you can get as they charge 33 Baht per cheque.

[Cloggie]

Pay cash - never a problem....

[dundas]

It sounds like your Thai bank was offering you the very dubious benefits of "dynamic currency conversion," where they bill you in your currency and charge you for the privilege. After this happened a few times to me in the past and I looked at the exchange rates, I now insist that I only pay in Thai baht. For more info on dynamic conversion try here: http://www.finweb.com/banking-credit/pros-and-cons-of-dynamic-currency-conversion.html

I also happen to use a credit card available to Australian residents which does not charge the 2% cc fee, so I end up getting a very good rate.

In the past (2010 to be exact) I have also used large denomination travellers checks in Australian currency and got great rates and - as another poster has said - it's more secure than cash.

[barryw52]

Your are allowed to bring in cash up to I think $10,000 please check this. If you bring cash and convert at Super Rich you get a very good rate to THB. http://www.superrichthailand.com/editor/rate.html

[kurtmartens]

I use the big dental hospital in BKK and Dentaland here in CNX ... have always paid cash or credit card (both US credit and debit and Thai debit) and never an issue.

But this sounds more like a banking question than a dental issue.

[utalkin2me]

why not just fly in and take out money at atm using the schwab card or get a capitol one before coming and pay with that. both options you will pay nothing. im just confused because you say you have a schwab account, and you know its advantages, so just use it and you will be fine, correct? or did i miss something?

carrying and converting the cash is good too, i personally prefer to carry dollars BACK to the states (if i have them), not to thailand. with schwab and capitol one there is no advantage to bring dollars here.

[lopburi3]

Credit card exchange rate should be determined by Master Card or Visa and is available online daily. Normally Visa is a bit better but not much difference and it is the normal rate of exchange. Your mention of Thai bank taking 2% sounds as if you allowed dynamic currency conversion as mentioned in post 5 (where they present a total bill in your home currency - never accept that - insist they do in baht). Normal CC or debit card charge will be 0 to 3 percent and is available from your bank if you check.

[IBoldnewguy]

why not just fly in and take out money at atm using the schwab card or get a capitol one before coming and pay with that. both options you will pay nothing. im just confused because you say you have a schwab account, and you know its advantages, so just use it and you will be fine, correct? or did i miss something?

carrying and converting the cash is good too, i personally prefer to carry dollars BACK to the states (if i have them), not to thailand. with schwab and capitol one there is no advantage to bring dollars here.

Thanks to everyone for the input - I can see I need to refamiliarize myself with my bank/credit conditions/advantages - I don't use ChasS that often here in US (just enough to keep it alive) as my CU takes care of me adequately - I didn't know Cap One was a reasonable option so will check into that as well - seems like I was just being lazy and why think when one has a entire forum to do it for you - plus I wanted the reassurance that I was thoroughly thinking this through and what can be more reasonable than to ask those with experience. need more

[IBoldnewguy]

If you can get free travellers cheques from your bank then you usually get a better rate for them in Thailand than cash.

Also they are much safer.

Edit: Forgot to say...this only works with the largest denomination cheques you can get as they charge 33 Baht per cheque.

THNX - I haven't heard of this - most I've heard is that they are difficult to cash - where would I exchange TC's in Bangkok w/o a hassle?

[IBoldnewguy]

why not just fly in and take out money at atm using the schwab card or get a capitol one before coming and pay with that. both options you will pay nothing. im just confused because you say you have a schwab account, and you know its advantages, so just use it and you will be fine, correct? or did i miss something?

carrying and converting the cash is good too, i personally prefer to carry dollars BACK to the states (if i have them), not to thailand. with schwab and capitol one there is no advantage to bring dollars here.

Thanks to everyone for the input - I can see I need to refamiliarize myself with my bank/credit conditions/advantages - I don't use ChasS that often here in US (just enough to keep it alive) as my CU takes care of me adequately - I didn't know Cap One was a reasonable option so will check into that as well - seems like I was just being lazy and why think when one has a entire forum to do it for you - plus I wanted the reassurance that I was thoroughly thinking this through and what can be more reasonable than to ask those with experience. need more

THNX - The Cap 1 info solved my problem - no foreign trans fee - it was not posted on statements nor FAQs - had to call to verify - just assumed it was 2% - same as my other cards.

[dundas]

If you can get free travellers cheques from your bank then you usually get a better rate for them in Thailand than cash.

Also they are much safer.

Edit: Forgot to say...this only works with the largest denomination cheques you can get as they charge 33 Baht per cheque.

THNX - I haven't heard of this - most I've heard is that they are difficult to cash - where would I exchange TC's in Bangkok w/o a hassle?

I've exchanged travellers checks at foreign exchange booths, and at banks. No hassle at all in my experience.

[Bpuumike]

If you can get free travellers cheques from your bank then you usually get a better rate for them in Thailand than cash.

Also they are much safer.

Edit: Forgot to say...this only works with the largest denomination cheques you can get as they charge 33 Baht per cheque.

THNX - I haven't heard of this - most I've heard is that they are difficult to cash - where would I exchange TC's in Bangkok w/o a hassle?

I've exchanged travellers checks at foreign exchange booths, and at banks. No hassle at all in my experience.

My experience too and much safer than carrying cash. In case of loss you can get them replaced at the Amex office if you have those.

Carry the receipts and serial numbers separately to the TC's just in case.

[yoshiwara]

Most hospital dental departments are equipped to accept credit cards without any hassle.

[IBoldnewguy]

Thnx to all for the helpful information - it's nice to know I'm still teachable because I didn't know there was so much I didn't know - now if I just don't forget that I know!

[GrantSmith]

Can anyone shed any light as to why is it that there are 2 different forex rates for $US?

1 for $USD1 and another for $USD100..

[USNret]

Can anyone shed any light as to why is it that there are 2 different forex rates for $US?

1 for $USD1 and another for $USD100..

I always figured because it was more convenient for exchangers to handle large bills or, conversely, more work to handle the smaller denominations. You'll get the best rate exchanging 50s or 100s, or traveler's checks.

[USNret]

For the OP, any card (debit, credit, etc.) that has a Mastercard or Visa logo on it is charged a 1% intl transaction fee by Visa or Mastercard. Some banks "piggyback" on this and add another percent or two. Thus, of your 2% fee -- half of it went to the card issuer to manage the currency exchange, the other half was pure profit to Charles Schwab. I refuse to use any card that charges more than the standard 1% intl fee.

Also, some cards have 0% international transaction fee. The fee is still there, but the bank eats the cost. I've recently found one from Army MWR, if you have any military affiliation. Plus, this card gives 1% back in cash, or 2% if you use it on a U.S. military base. So in essence, I feel like I'm getting 2-3% back with these cards. The card has no annual fee.

There are a few other cards out there with no intl fee; some have an annual fee so it's a wash unless you use it a lot overseas. I think Capital One has one.

[Mousehound]

 

If you can get free travellers cheques from your bank then you usually get a better rate for them in Thailand than cash.

Also they are much safer.

Edit: Forgot to say...this only works with the largest denomination cheques you can get as they charge 33 Baht per cheque.

 

I agree - I mostly use TC in Thailand (the only country that gives me a better rate than for cash)

[jamescollister]

Nothing to do with money or T/C, on the dental side, it's cheap if you get out of the hot spots. Crown, 3,000, root canal and crown 5,000 Baht.

Unless you are looking at tooth implants, then just get out off town and find a dentist.

You won't be worried about exchange rates, cash or T/C.

You only have 32 teeth I think, if you go at $100 a tooth how much can you lose in currency transactions. Jim

[Pib]

If you can get free travellers cheques from your bank then you usually get a better rate for them in Thailand than cash.

Also they are much safer.

Edit: Forgot to say...this only works with the largest denomination cheques you can get as they charge 33 Baht per cheque.

THNX - I haven't heard of this - most I've heard is that they are difficult to cash - where would I exchange TC's in Bangkok w/o a hassle?

You would have no problem casing a travelers check, especially at any bank. I never have over the years and I had a friend visit me here in Bangkok a few weeks ago, she brought a bunch of travelers checks, and had no problem cashing them....just needed to show her passport. Exchange rate given would be approx 0.1 to 0.2 baht per USD less than the TT Buying Rate (depends on the bank) provided in wire/SWIFT/ACH transfers and there would also be a 30 baht fee per check...so the bigger denomination the check the fewer the 30 baht fees. The TT Buying Rate is about the best the common man can get...and the Schwab Visa debit card using the Visa exchange rates will be very close to the TT Buying Rate....I know as I have and use a Schwab Visa debit card here in Thailand. So, say for example the TT Buying Rate of the day was 30 baht/USD, you would get approx 29.8 to 29.9 baht/USD for a travelers check depending on Thai bank. For an example of exchange rates, to include rates for traveler checks, see the Siam Commercial Bank (SCB) Link. The Bangkok Bank traveler checks exchange rate is usually 0.1 baht less than their TT Buying Rate...Link...as they will give you the Sight Bill rate if I remember right.

Also, keep in mind that you can pull at least $1,000 per day (approx 30K baht) from an ATM using your Schwab debit card...and if not using an AEON ATM (but I recommend you do use AEON ATM to keep Schwab from having to reimburse you/spend money on our) you can still get reimbursed by Schwab for the 150 baht foreign card fee charge by Thai bank ATMs.

Traveler checks are a safe way to carry money overseas, easy to cash, and if you can get the checks issued free/at a low cost from your US bank, then they are basically as efficient exchange rate/total fees-wise as a free ACH wire transfer getting the TT Buying Rate. I do realize the cost of travelers checks can range from free to pricey when initially getting them from your home country bank...all depends on how evil/fee hungry your US bank is.