jayci Posted November 24, 2013 Share Posted November 24, 2013 When I go to Thailand for holiday, should I take AUD dollars and exchange to Baht in Thailand, or Should I just use Visa card to withdraw baht in 30000baht lots? Or should I open a Thai bank acct and do Transfer from Aus bank acct.? Link to comment Share on other sites More sharing options...
Suradit69 Posted November 24, 2013 Share Posted November 24, 2013 (edited) Walking around with a wad of Australian dollars or Thai baht after exchanging one to the other would probably not be a good idea. Either using the ATM or a Thai bank account would be the better choices. It would depend in part on how long you intend to be here and whether this is a one-off visit or you plan to come here regularly. Opening a Thai bank account while here on a tourist visa is possible, especially in touristy areas, but it sometimes takes a bit of going from branch to branch before you find a manager willing to permit it. Then you would need to figure out a way to make the transfers from your bank in Australia. If there's a branch of a Thai bank in Australia (??) it might make the transferring easier, but it's still possible to make transfers if not. But there would be various fees incurred and a likely delay between requesting the transfer and getting the baht in your hands. So probably the easier option is bringing a small amount of cash and using the ATM as needed. If you'll be here for an extended period or expect to return from time to time you can explore banking options while you're here. If you think you may open a Thai bank account, talk with your Australian banker about costs and methods of making transfers either before travelling or while away from home ... most likely requiring Internet access to you home bank account. Such transfers should be denominated in AUS $ and let the Thai bank do the conversion. Do not ask your Australian bank to make a Thai Baht transfer. Doing a baht transfer will get you poor rates and your Thai bank will charge more for the transaction. Visa card to withdraw baht in 30000baht lots? You may find your withdrawals limited to Baht 10,000 by Thai ATMs. Edited November 24, 2013 by Suradit69 2 Link to comment Share on other sites More sharing options...
moradave Posted November 24, 2013 Share Posted November 24, 2013 My concern in using a foreign credit card to obtain baht in Thailand is that the card is subject to being kept by the ATM. Then what do you do? The bank in Thailand might not return your card, so you could be without funds for days or even weeks until the problem is resolved. Better find another way such as getting a local Thai baht bank account with an attached ATM debit card. Then do transfers to your Thai baht account from your Australian account. Always transfer AUS $, never Thai baht. 1 Link to comment Share on other sites More sharing options...
pitchag Posted November 25, 2013 Share Posted November 25, 2013 I opened an account with Bank of Bangkok with a multi o visa no problem, be careful which bank you use in Aussie to transfer money some banks go through a few intermediary to transfer money and they all take their cut. After much research I found the West Pac was the cheapest almost direct transfer overnight in most cases, easy and safely done on line, always transfer in Australian dollars the exchange rate is better Hope this helps 2 Link to comment Share on other sites More sharing options...
craigt3365 Posted November 25, 2013 Share Posted November 25, 2013 I think you're better off with an ATM card. Check with your bank on their charges. Mine gives me 4-5 withdrawals per month with no fees. Use a big banks ATM and you'll probably be getting a very good exchange rate. Use ATMs that are inside the bank. Never use one on the street. I would never carry around a large amount of cash...no matter where I was traveling. Also, I have 2 ATM cards from 2 different banks. Just in case one gets eaten or I have problems. Which has happened in the past! Link to comment Share on other sites More sharing options...
BigSkip Posted November 25, 2013 Share Posted November 25, 2013 Walking around with a wad of Australian dollars or Thai baht after exchanging one to the other would probably not be a good idea. Either using the ATM or a Thai bank account would be the better choices. It would depend in part on how long you intend to be here and whether this is a one-off visit or you plan to come here regularly. Opening a Thai bank account while here on a tourist visa is possible, especially in touristy areas, but it sometimes takes a bit of going from branch to branch before you find a manager willing to permit it. Then you would need to figure out a way to make the transfers from your bank in Australia. If there's a branch of a Thai bank in Australia (??) it might make the transferring easier, but it's still possible to make transfers if not. But there would be various fees incurred and a likely delay between requesting the transfer and getting the baht in your hands. So probably the easier option is bringing a small amount of cash and using the ATM as needed. If you'll be here for an extended period or expect to return from time to time you can explore banking options while you're here. If you think you may open a Thai bank account, talk with your Australian banker about costs and methods of making transfers either before travelling or while away from home ... most likely requiring Internet access to you home bank account. Such transfers should be denominated in AUS $ and let the Thai bank do the conversion. Do not ask your Australian bank to make a Thai Baht transfer. Doing a baht transfer will get you poor rates and your Thai bank will charge more for the transaction. Visa card to withdraw baht in 30000baht lots? You may find your withdrawals limited to Baht 10,000 by Thai ATMs. A.T.M. 30k days long gone, BKK Bank still 25K, most are 20K, good luck................ 1 Link to comment Share on other sites More sharing options...
malt25 Posted November 25, 2013 Share Posted November 25, 2013 I have done it most ways. Brought cash. Used my card to withdraw at ATM. I consider best way is to open a Thai bank account. I opened account with Kasikorn bank with just 30 day tourist visa, no problems. Transferring money via Aussie banks is expensive, way too expensive. If you are an Aussie open an account with Ozfourex, easily done on line. If I can do it anyone can. You'll get daily exchange rates via e-mail & transfer your money when the rate suits you. You actually transfer your money into the Ozfourex account & they in turn transfer into your Thai bank account. They will phone you just prior to the transfer to confirm all details. If your transaction is $2000 or more no charge. I'm not sure of the exact charge for amount under $2000 but is far less than any Aussie bank. Hopes this is of some assistance. Mal. Link to comment Share on other sites More sharing options...
malt25 Posted November 25, 2013 Share Posted November 25, 2013 Footnote to above. I only ever draw 10,000 baht at a time from ATM. If you require more you can always draw as much as you have in your account from within the bank. Many banks are open Saturdays & Sundays. Again, hope this assists. Mal. Link to comment Share on other sites More sharing options...
Dannyboy6 Posted November 25, 2013 Share Posted November 25, 2013 (edited) Just a Reminder to newbies, your currency has to be in perfect condition, no tears, ink marks, no old bills, I used to hear for US currency it had to be newer than 2003, example , someone wrote the number 3000 On a 100 bill no one would accept it, also Laos, same same. Also Charles Schwab refunds all your ATM fees Edited November 25, 2013 by Dannyboy6 1 Link to comment Share on other sites More sharing options...
Bpuumike Posted November 25, 2013 Share Posted November 25, 2013 My UK bank makes pretty heavy charges for withdrawing cash from a Thai ATM. It might sound retro but travellers checks could be your best option. They are becoming popular in the UK. If they are stolen or lost you can get them replaced in BKK (at least by Amex) and cash them as you need. Any left over can be refunded when you go home. 1 Link to comment Share on other sites More sharing options...
Dannyboy6 Posted November 25, 2013 Share Posted November 25, 2013 My UK bank makes pretty heavy charges for withdrawing cash from a Thai ATM. It might sound retro but travellers checks could be your best option. They are becoming popular in the UK. If they are stolen or lost you can get them replaced in BKK (at least by Amex) and cash them as you need. Any left over can be refunded when you go home. . You also get a Great Rate from Travelers Checks... Link to comment Share on other sites More sharing options...
mortenaa Posted November 25, 2013 Share Posted November 25, 2013 (edited) Bring two ATM cards, and you are fine! Withdrawals at ATM's, you get VISA's exchange rate, which is usually better than the banks give you. But your local bank may or may not add a fee on top. Edited November 25, 2013 by mortenaa Link to comment Share on other sites More sharing options...
mortenaa Posted November 25, 2013 Share Posted November 25, 2013 My UK bank makes pretty heavy charges for withdrawing cash from a Thai ATM. It might sound retro but travellers checks could be your best option. They are becoming popular in the UK. If they are stolen or lost you can get them replaced in BKK (at least by Amex) and cash them as you need. Any left over can be refunded when you go home. . You also get a Great Rate from Travelers Checks... Why anyone would go through all that hassle with Travelers Checks when we already have ATM's is for a me a big puzzle. Link to comment Share on other sites More sharing options...
Dannyboy6 Posted November 25, 2013 Share Posted November 25, 2013 My UK bank makes pretty heavy charges for withdrawing cash from a Thai ATM. It might sound retro but travellers checks could be your best option. They are becoming popular in the UK. If they are stolen or lost you can get them replaced in BKK (at least by Amex) and cash them as you need. Any left over can be refunded when you go home. . You also get a Great Rate from Travelers Checks... Why anyone would go through all that hassle with Travelers Checks when we already have ATM's is for a me a big puzzle. because some people are afraid banks will confiscate their cards, or lose card, etc, I use my ATM, but some people are Old School, don't trust banks... Link to comment Share on other sites More sharing options...
senor123 Posted November 25, 2013 Share Posted November 25, 2013 A lot of Thai ATMs are now only allowing 10k baht at a time. So, each withdrawal on your Australian debit card could cost you 180 Baht Thai atm charge, plus your Australian bank's international atm withdrawal fee ($AU15.80 for 10k baht), plus you get a lousy exchange rate. Everyone has their own preferences but I always take cash. I also take a debit and credit card but rarely use them. Cash is cool, easy to exchange, no fees, a fairly good exchange rate and you don't have to worry about skimmers, atm card eaters etc. I take a couple of grand $AU and change about 500 bucks at a time. No problems so far and I have been doing it for the last 5 years. Link to comment Share on other sites More sharing options...
marquis22 Posted November 25, 2013 Share Posted November 25, 2013 If using a Thai bank account, exchange $aus before depositing it into your account. I once gave $1000 in cash with my Thai bank book to deposit and got a very low exchange rate. I tried to point out that it was nothing near the advertised rate shown on the board. I could not understand the response but it went along the lines of " like it or lump it and leave" Link to comment Share on other sites More sharing options...
phetphet Posted November 25, 2013 Share Posted November 25, 2013 I always use a mixture of card, cash and Travellers Chqs. Spreads the risk over different formats. I have had a card retained by an ATM. Luckily the branch where it was situated was open, and T/C's are insured, giving you some protection against loss, plus cash gives me immediate access. 1 Link to comment Share on other sites More sharing options...
RKASA Posted November 25, 2013 Share Posted November 25, 2013 My UK bank makes pretty heavy charges for withdrawing cash from a Thai ATM. It might sound retro but travellers checks could be your best option. They are becoming popular in the UK. If they are stolen or lost you can get them replaced in BKK (at least by Amex) and cash them as you need. Any left over can be refunded when you go home. . You also get a Great Rate from Travelers Checks... Why anyone would go through all that hassle with Travelers Checks when we already have ATM's is for a me a big puzzle. because some people are afraid banks will confiscate their cards, or lose card, etc, I use my ATM, but some people are Old School, don't trust banks... Cards can get turned off by the bank when they see it used oversea and you have to hassle getting it turned back on - check with the bank before you leave and set up a travelers profile so they know you are there. That is the main cause of the eaten card, but most often transaction is just deigned. Some travelers checks are better then cash - you can change them at any bank counter for the same rate as t-bill. You can't always exchange cash anywhere you like or replace it if lost. 1 Link to comment Share on other sites More sharing options...
Dannyboy6 Posted November 25, 2013 Share Posted November 25, 2013 My UK bank makes pretty heavy charges for withdrawing cash from a Thai ATM. It might sound retro but travellers checks could be your best option. They are becoming popular in the UK. If they are stolen or lost you can get them replaced in BKK (at least by Amex) and cash them as you need. Any left over can be refunded when you go home. . You also get a Great Rate from Travelers Checks... Why anyone would go through all that hassle with Travelers Checks when we already have ATM's is for a me a big puzzle. because some people are afraid banks will confiscate their cards, or lose card, etc, I use my ATM, but some people are Old School, don't trust banks... Cards can get turned off by the bank when they see it used oversea and you have to hassle getting it turned back on - check with the bank before you leave and set up a travelers profile so they know you are there. That is the main cause of the eaten card, but most often transaction is just deigned. Some travelers checks are better then cash - you can change them at any bank counter for the same rate as t-bill. You can't always exchange cash anywhere you like or replace it if lost. . Excellent Points... Link to comment Share on other sites More sharing options...
RicePudding Posted November 25, 2013 Share Posted November 25, 2013 If you come to Thailand regularly or for a long period of time it's best to open a Thai bank account, and Telegraphic Transfer (TT) the money in. My Oz bank is CBA and Thai bank is Siam Commercial Bank and if I do a TT during office hours my money is in my Thai bank within a few hours. The CBA fee for a TT is $20 for any amount and I find the rate I get from SCB is competitive. As others have said it is VERY IMPORTANT that you don't convert the amount to Thai Baht in Oz, just leave it in AUD, or the exchange rate will be much lower. i.e. On the TT form just put in the amount of Australian Dollars you want to transfer and leave it as that without converting to Thai Baht. The AUD gets converted when it hits your Thai bank . I do my TTs online with Netbank, you just need the address and Swift code of your Thai bank. If you have a friend in Thailand it might be easier for them to help you set up a bank account. I just had a mate visit who wasn't happy getting charged $15 by his Oz bank for every withdrawal from an ATM, and since he is coming back next year for 2 months I helped him open up a Thai account using my Thai address. One advantage with having a Thai bank account is that you don't feel compelled to withdraw 20,000 at a time. You can withdraw smaller amounts since there are no fees for withdrawals from your own bank's ATMs. And in Thailand you can use your ATM card to withdraw your money from any other bank's ATMs, although there is a small fee. Link to comment Share on other sites More sharing options...
Ulic Posted November 25, 2013 Share Posted November 25, 2013 All great advice here. I recommend a combination depending on if you will be a regular visitor. If you will be then open a Thai bank account. If not or on your first visit bring some cash and large denomination travellers checks. There are security issues with card skimming and Thai banks do not make getting a refund easy. So if you open a Thai account read some of the recommendations found on this site to minimize the loss if your card is skimmed. A couple of bank cards and credit cards in case the ATM swallows your card is wise. This has happened to me in the USA. I was able to get them back the next day both times by showing up at the bank the next day at opening. The machines had at least 60 cards in them. If I had used a stand alone machine and not one at a bank branch things would have been much more difficult. Link to comment Share on other sites More sharing options...
Suradit69 Posted November 25, 2013 Share Posted November 25, 2013 My UK bank makes pretty heavy charges for withdrawing cash from a Thai ATM. It might sound retro but travellers checks could be your best option. They are becoming popular in the UK. If they are stolen or lost you can get them replaced in BKK (at least by Amex) and cash them as you need. Any left over can be refunded when you go home. . You also get a Great Rate from Travelers Checks... You also get a Great Rate from Travelers Checks... Actually you get better rates with cash or telex to a bank account. No idea how it compares to rates for ATM withdrawals. Link to comment Share on other sites More sharing options...
pitchag Posted November 25, 2013 Share Posted November 25, 2013 I have done it most ways. Brought cash. Used my card to withdraw at ATM. I consider best way is to open a Thai bank account. I opened account with Kasikorn bank with just 30 day tourist visa, no problems. Transferring money via Aussie banks is expensive, way too expensive. If you are an Aussie open an account with Ozfourex, easily done on line. If I can do it anyone can. You'll get daily exchange rates via e-mail & transfer your money when the rate suits you. You actually transfer your money into the Ozfourex account & they in turn transfer into your Thai bank account. They will phone you just prior to the transfer to confirm all details. If your transaction is $2000 or more no charge. I'm not sure of the exact charge for amount under $2000 but is far less than any Aussie bank. Hopes this is of some assistance. Mal. The Westpac charges $20 Aud for any amount Last week i did a online transfer friday morning and it was in my Thai bank friday night Link to comment Share on other sites More sharing options...
Bpuumike Posted November 26, 2013 Share Posted November 26, 2013 My UK bank makes pretty heavy charges for withdrawing cash from a Thai ATM. It might sound retro but travellers checks could be your best option. They are becoming popular in the UK. If they are stolen or lost you can get them replaced in BKK (at least by Amex) and cash them as you need. Any left over can be refunded when you go home. . You also get a Great Rate from Travelers Checks... Why anyone would go through all that hassle with Travelers Checks when we already have ATM's is for a me a big puzzle. TC's aren't a hassle. Compare the costs - might change your mind. Link to comment Share on other sites More sharing options...
mortenaa Posted November 26, 2013 Share Posted November 26, 2013 TC's aren't a hassle. Compare the costs - might change your mind. I did. ATM's give you better exchange-rate than any corner both. Link to comment Share on other sites More sharing options...
Bpuumike Posted November 27, 2013 Share Posted November 27, 2013 (edited) All great advice here. I recommend a combination depending on if you will be a regular visitor. If you will be then open a Thai bank account. If not or on your first visit bring some cash and large denomination travellers checks. There are security issues with card skimming and Thai banks do not make getting a refund easy. So if you open a Thai account read some of the recommendations found on this site to minimize the loss if your card is skimmed. A couple of bank cards and credit cards in case the ATM swallows your card is wise. This has happened to me in the USA. I was able to get them back the next day both times by showing up at the bank the next day at opening. The machines had at least 60 cards in them. If I had used a stand alone machine and not one at a bank branch things would have been much more difficult. Always try to use an ATM that is in, or right outside a bank. Any issues can then be sorted on the spot. I don't see too much difference in exchange rates, just that my UK bank makes heavy charges to withdraw cash on a card. Might be different for you guys from Oz and US? I would suggest you carry just enough cash for a day or night's entertainment. After all, you only pay any 'friend' after the event. If you find any high price item while shopping then go back later and pay by card or cash. Edited November 27, 2013 by Bpuumike Link to comment Share on other sites More sharing options...
jayci Posted January 15, 2014 Author Share Posted January 15, 2014 Would the Krungthai Bank, Bang Bon branch be a good place to exchange Australia dollars to thai? Or it better to go to another bank Sent from my GT-N7100 using Thaivisa Connect Thailand mobile app Link to comment Share on other sites More sharing options...
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