new cost for travellers cheques

[lovelomsak]

I have used travellers cheques for over 40 years. They are great back up. I like them for their rate and safety. Well yesterday I went to cash a few. I wanted to cash Canadian. First the bank said wait we need to make a call. After a wait they came back again and ask what cheque it was I told them american express. They came a few minutes later saying I couldnot cash anymore than $20,000 and I needed to pay 150 baht plus 3 baht tax on each cheque.. I can get cash cheaper through my atm. In the past it was always 30 baht fee and 3 baht tax. Does anyone know if this is the same all over Thailand or just where I am. My atm is 150 baht and i get $1000 for 150 baht fee. My cheques are only $500 so I am paying double the cost to cash them.

I could go to Bangkok and back if it is still 33 baht there to cash and save money. Please let me know if it is the same everywhere,if anyone knows. Seems to me to be small town banker crap.

Edited July 3, 2014 by lovelomsak

[Absolut]

I think you'll find the T/C fee went to 150 early this year to bring it inline with the ATM fee.

All over Thailand.

[Rooo]

Moved to banking.

[Pib]

Yes, it's the same for all Thai banks. Around Mar 14 Thai bank raised their fees for cashing travelers checks from 30 baht plus a 3 baht stamp duty to 150 baht plus a 3 baht stamp duty. The stamp duty is the govt fee which was not raised....only the bank's portion of the total fee was raised 5 fold. Summary: each travelers check regardless of demonimation size now cost 153 baht to cash so you are better off using large denominations like $500 or more to minimize the fee impact. The Thai Bankers Association appreciates your business.

[oldthaihand99]

I cashed some USD TCs at KTB near the Sukhumvit 3/4 intersection earlier this year, $500 check denomination. Can't recall what they charged. Asked where i could buy some & she said Bangkok Bank & pointed in the direction of higher numbered sois on sukh. Though i don't recall seeing a branch near there. BTW a new ATM at KTB started charging 180 baht per WD there recently.

I'd be interested if anyone knows where to buy TCs in either Bangkok or Singapore. I haven't been having any luck so far in several attempts in person or online searching. I get the impression they are not popular with the banks. In Vancouver, Canada last year my bank investment manager told me they had quit issuing the $500 denomination checks. I guess that meant US, CAD or any currency. Though if you could get 500 Pound or Euro or larger denomination somewhere, that might help mitigate the increased cost per check. With $100 checks at $5 (153 baht) a pop the price is steep compared to ATMs, though TCs can come in handy in emergencies or if immigration wants to see proof of funds, etc.

Edited July 3, 2014 by oldthaihand99

[lovelomsak]

There used to be an American express office near the Soi Ari skytrain stop does any know if it is still there, I will cash them there if it is there, What I will save will more than pay for the trip to Bangkok.

[worgeordie]

These Bankers should wear masks, as they want to rip you off

at every opportunity,150 bht charge,plus they earn off the exchange

rate, change 10 T/C s thats 1,500 bht ! you have to pay.

regards worgeordie

[Pib]

These Bankers should wear masks, as they want to rip you off

at every opportunity,150 bht charge,plus they earn off the exchange

rate, change 10 T/C s thats 1,500 bht ! you have to pay.

regards worgeordie

As mentioned earlier, the Thai Bankers Association appreciates your business.

[californiabeachboy]

I was in Thailand in February and cashed a tc at a bank in a mall in Chiang Mai. There was a notice on the window that the tc fees would soon be raised to 150 baht. The bank teller said it was because of American Express and/or the issuing bank raising their fees, not his (Thai) bank.

[Pib]

I was in Thailand in February and cashed a tc at a bank in a mall in Chiang Mai. There was a notice on the window that the tc fees would soon be raised to 150 baht. The bank teller said it was because of American Express and/or the issuing bank raising their fees, not his (Thai) bank.

Boy, was that a big lie and the teller was probably smiling the whole time while telling that big fib.

[dave2]

re

I think you'll find the T/C fee went to 150 early this year to bring it inline with the ATM fee.

All over Thailand.

hes right ... pic taken in chiang mai may 14

dave2

[lovelomsak]

I did some searching and found the american express office. It appears it is still in the sp building near the soi ari sky train stop. I will go there in the near future and get back to all here if they charge for cashing cheques and what their rate is.