Changing Baht whileTravelling in SE Asia

[bharr]

Hi

I will be travelling from Thailand throughout SE Asia, incl Thailand, for the next few months.

I'm wondering what the best way to arrange money and to minimise the amount of cash I carry around.

I have an account with Bangkok Bank with debit and ATM card. I also have a Caxton Global Traveller card linked to my UK bank account. On conclusion of my travels I will return to UK and cancel my Thai bank account.

I would appreciate any information about what would be effective and cheapest way to change money.

Cheers all

Brian

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[Tomtomtom69]

A combination of credit, debit/ATM cards and cash. Forget traveler's cheques as they are going out of favour. Baht is easy to change in all SE Asian countries, with the exception of Myanmar, border areas excepted. For Myanmar, debit cards are now useful for withdrawing local currency, but only US$, Euros and Singapore dollars can easily be exchanged at banks and moneychangers inside the country proper.

In Penang, Malaysia, I found a hotel that would exchange most major currencies, but strangely didn't want Baht, despite the proximity of Penang to Malaysia. However, moneychangers there would almost certainly exchange Baht. In Laos Baht can be used for most expenses throughout the country, in Cambodia in the western parts of the country near the Thai border (although by the time you get to Siem Reap, US$ are preferred). In Vietnam, Baht is easy to exchange in the major cities (especially Ho Chi Minh, Hanoi and along the Lao-Vietnam border). In Singapore, Baht can be exchanged at all moneychangers and banks that handle foreign exchange, in Indonesia, stick to Jakarta, Bali and other major cities if you want to exchange Baht.

[bharr]

A combination of credit, debit/ATM cards and cash. Forget traveler's cheques as they are going out of favour. Baht is easy to change in all SE Asian countries, with the exception of Myanmar, border areas excepted. For Myanmar, debit cards are now useful for withdrawing local currency, but only US$, Euros and Singapore dollars can easily be exchanged at banks and moneychangers inside the country proper.

In Penang, Malaysia, I found a hotel that would exchange most major currencies, but strangely didn't want Baht, despite the proximity of Penang to Malaysia. However, moneychangers there would almost certainly exchange Baht. In Laos Baht can be used for most expenses throughout the country, in Cambodia in the western parts of the country near the Thai border (although by the time you get to Siem Reap, US$ are preferred). In Vietnam, Baht is easy to exchange in the major cities (especially Ho Chi Minh, Hanoi and along the Lao-Vietnam border). In Singapore, Baht can be exchanged at all moneychangers and banks that handle foreign exchange, in Indonesia, stick to Jakarta, Bali and other major cities if you want to exchange Baht.

Very useful information. Thanks very much, appreciate your effort.

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[54321]

use cash and there are no silly atm charges and terrible exchange rates, however you want to minimise the cash you carry, so use your atm card and suffer from the atm charges, and poor fx rates. I would personally use a combination of cash and cards. £50 notes and cards

[Ajaan]

relying on ATM withdrawals is the best and safest option. yes, the withdrawal charges suck (unless you can get the fabled Charles Schwab card from the US, which I have, which refunds all those ridiculous Thai ATM fees), but only an idiot carries thousands of US dollars or Euros on their person while traveling...the other poster was correct, traveler's checks have gone the way of the CD and the fax machine...they're useless nowadays.

[craigt3365]

ATMs are your best bet. You'll get hit with some fees, but that's the way it is. I also don't like to carry large amounts of cash. But when I hit an ATM, I try to get the max amount. Normally $500-700 in the local currency.

[keeniau96]

Thai baht may be accepted but very good chance that the rate will be very unfavorable. I have sound this the case in Malaysia and in Indonesia.

[stevenl]

Why are people here so negative about TC's? I find them accepted everywhere, safe, good exchange rates, cheap and with the charges for ATM's I see them becoming more popular again.

[Tomtomtom69]

relying on ATM withdrawals is the best and safest option. yes, the withdrawal charges suck (unless you can get the fabled Charles Schwab card from the US, which I have, which refunds all those ridiculous Thai ATM fees), but only an idiot carries thousands of US dollars or Euros on their person while traveling...the other poster was correct, traveler's checks have gone the way of the CD and the fax machine...they're useless nowadays.

If you look at the Myanmar forum on TV or any other forum such as Lonely Planet's thorntree about traveling in Myanmar, a lot of idiots talk about bringing in thousands of US$. This is both ridiculous and no longer necessary. For years it has been possible to book Myanmar hotels online and pay for them using your credit card if you book on websites such as Agoda - so there goes one major expense. Nowadays there are ATMs so you can safely go to Myanmar without bringing any foreign cash at all. Kyat are accepted for all purchases nowadays except visas and airline tickets, which must still be paid for in US$. However, even if you need to pay for these items in US$, it shouldn't be very hard to find a way of getting access to dollars should you not have any left, or for travel agents to accept your Kyat and convert them to US$ for you.

I think your average traveler should bring in the equivalent of 200 Euros or $300 cash to any country in SE Asia, and use that to exchange into the local currency. If they need more, use ATMs. If there is any excess, exchange that into the currency of the next country you are going to. The only currencies you definitely can't exchange outside their respective countries (except in border areas with neighboring countries) are the Myanmar Kyat and the Cambodian Riel. No banks will touch those currencies. Lao Kip are not that easy to exchange either, but a few banks in Thailand, southern China and Vietnam may take them. Vietnamese Dong are no problem to exchange in the major cities of all SE countries from Singapore to Laos, but of course not Myanmar.

[stoli]

Why are people here so negative about TC's? I find them accepted everywhere, safe, good exchange rates, cheap and with the charges for ATM's I see them becoming more popular again.

I totally agree. Traveler's Cheques give you the most bang for your buck. Better than the ATM fees.