Best way to obtain Thai Baht while on holiday

[ChrisKC]

I am sure this topic is covered but I can't find it.

I haven't used the currency exchange mechanism for ten years so I am out of date

What is the best way to obtain Thai Baht in Thailand that avoids excessive fees?

I have a friend from UK visiting Chiang Mai next month. I have already advised him to consult with his Bank and Credit Card Company to establish their fees if he chooses to use his cards.

Thank you for your time and attention

[Jiu-Jitsu]

Cash. Halifax Clarity for purchases in places that have no CC charges. You can also use it via an ATM and within the bank branch to withdraw cash.

[DiDiChok]

Yes, I'll vote for cash too. The new "TT Exchange" places in Pattaya / Jomtien usually offer exchange rates that are about 0.5฿ better than the Banks. Watch out though, they like clean, untorn, unmarked and unfolded notes. You can always open a safe deposit box to keep your cash and passport safe.

Other methods I use are to go inside the Bank to withdraw money on a foreign card as you duck the ATM fee. Travel cheques are a no-no now because they wanted ฿135 off me for each one no matter what value it was, so I took them back home for a fee-free refund.

Sending to a Thai Bank account is quite good, as long as I say 'send sterling' so my home Bank doesn't do the conversion at a lousy rate.

Really, it's 'up to you' as they say. If it's just a short visit and not a lot of money, why worry over a few Baht? I used to get upset over being diddled a bit, but then I simply decided to stop worrying about losing the cost of one lady drink on the exchange rate.

[craigt3365]

I have a card with no ATM fees for the first 10 transactions per month. And then only 1% foreign transaction fee. So I can take out 20,000B and it only costs me 200B. Worth it to me so I don't have to carry the cash. I can hit an ATM as soon as I get off the plane and I'm topped up.

[alfalfa19]

I have a card with no ATM fees for the first 10 transactions per month. And then only 1% foreign transaction fee. So I can take out 20,000B and it only costs me 200B. Worth it to me so I don't have to carry the cash. I can hit an ATM as soon as I get off the plane and I'm topped up.

Can you tell us what type of card/bank it is? thanks

[alanrchase]

If you have a Thai bank account get him to do a bank to bank transfer. Hopefully you are good friends.

[sometimewoodworker]

I have a card with no ATM fees for the first 10 transactions per month. And then only 1% foreign transaction fee. So I can take out 20,000B and it only costs me 200B. Worth it to me so I don't have to carry the cash. I can hit an ATM as soon as I get off the plane and I'm topped up.

The point you have to be careful of with all cards (credit and debit) is that the exchange rate they use is often worse (sometimes much worse) than the bank and money changers rate. So while there may be no ATM fee or foreign transaction fee you can still be effectively paying a fee in the exchange rate and it can be high.

If you want to have a significant amount of THB then cash is usually the cheapest option.

If you come into BKK not DMK during the day then there is a superrich in the airport.

If you want to get good information try

http://daytodaydata.net

Vasu is sometimes as good as Super Rich but not always

Also Super Rich Thailand (green) is usually better than super rich 1965(orange)

http://www.superrich1965.com

http://www.superrich...w/exchange.html

[ToddinChonburi]

just bring cash.

[alanrchase]

I have a card with no ATM fees for the first 10 transactions per month. And then only 1% foreign transaction fee. So I can take out 20,000B and it only costs me 200B. Worth it to me so I don't have to carry the cash. I can hit an ATM as soon as I get off the plane and I'm topped up.

The point you have to be careful of with all cards (credit and debit) is that the exchange rate they use is often worse (sometimes much worse) than the bank and money changers rate. So while there may be no ATM fee or foreign transaction fee you can still be effectively paying a fee in the exchange rate and it can be high.

If you want to have a significant amount of THB then cash is usually the cheapest option.

If you come into BKK not DMK during the day then there is a superrich in the airport.

If you want to get good information try

http://daytodaydata.net

Vasu is sometimes as good as Super Rich but not always

Also Super Rich Thailand (green) is usually better than super rich 1965(orange)

http://www.superrich1965.com

http://www.superrich...w/exchange.html

My foreign bank does money transfers free. If I use my debit card I get fees for foreign transaction and exchange transaction plus a poor exchange rate. Comes to about 4%.

[ToddinChonburi]

Try not to use credit cards unless he knows for sure, NO INTERNATIONAL FEES These are very costly. not sure how long he will be staying but cash is best. Best rate will be at a bank near your home . airport is always lower. just get enough Thai baht to make it to your home and then go to bank. He can open Temperary account at bank and get a dept card if he wants to keep money safe.

Edited October 23, 2014 by ToddinChonburi

[sometimewoodworker]

Try not to use credit cards unless he knows for sure, NO INTERNATIONAL FEES These are very costly. not sure how long he will be staying but cash is best. Best rate will be at a bank near your home . airport is always lower.

Not always, as I said there is a superrich in the airport which will often be better than a bank near your home.

If you arrive while it's open.

[smellyskater]

What country is he coming from?

[alanrchase]

What country is he coming from?

I am a bit lost. First time tourist? Just dumfounded myself.

[mickyboy]

bring new £50 notes and change them at superich airport and you get the best deal

[alanrchase]

bring new £50 notes and change them at superich airport and you get the best deal[/quot

Superrich. Wonderful name.

[Liquorice]

The Halifax Clarity card is the cheapest Visa Credit card to withdraw cash at a Thai ATM.

The Nationwide Flexaccount is the cheapest Visa Debit card to withdraw cash at a Thai ATM.

Cash will get the best transfer rates.

[Liquorice]

smellyskater, on 23 Oct 2014 - 13:51, said:

What country is he coming from?

Well the OP said;

"I have a friend from UK visiting Chiang Mai next month" ............

[alanrchase]

If one wants to be very cynical why is there a problem? Pay for his holiday.

[craigt3365]

I have a card with no ATM fees for the first 10 transactions per month. And then only 1% foreign transaction fee. So I can take out 20,000B and it only costs me 200B. Worth it to me so I don't have to carry the cash. I can hit an ATM as soon as I get off the plane and I'm topped up.

Can you tell us what type of card/bank it is? thanks

I have an American bank, so not sure it would do much good to somebody from the UK. It's USAA. But, there are quite a few options for no fee ATM cards. No ATM fee and no foreign transaction fee. Schwab is one of the better known.

[alanrchase]

I have a card with no ATM fees for the first 10 transactions per month. And then only 1% foreign transaction fee. So I can take out 20,000B and it only costs me 200B. Worth it to me so I don't have to carry the cash. I can hit an ATM as soon as I get off the plane and I'm topped up.

Can you tell us what type of card/bank it is? thanks

I have an American bank, so not sure it would do much good to somebody from the UK. It's USAA. But, there are quite a few options for no fee ATM cards. No ATM fee and no foreign transaction fee. Schwab is one of the better known.

u

As I read it the friend is on holiday? Where is the problem? Will probably get overcharged elsewhere. Just enjoy.

[sandyf]

There are 2 Super Rich offices in Chiang Mai. I looked it up as my friend is also coming from the UK next month for Loi Khratong.

[Jiu-Jitsu]

The Halifax Clarity card is the cheapest Visa Credit card to withdraw cash at a Thai ATM.

The Nationwide Flexaccount is the cheapest Visa Debit card to withdraw cash at a Thai ATM.

Cash will get the best transfer rates.

You've got that wrong.

The only card that Nationwide has that won't charge for withdrawals in Thailand, is from the FlexPlus account. For that, you have to pay £10 per month.

No charge debit cards from N&P Gold Classic account and the Cumberland BS Plus account.

[watcharacters]

I have a card with no ATM fees for the first 10 transactions per month. And then only 1% foreign transaction fee. So I can take out 20,000B and it only costs me 200B. Worth it to me so I don't have to carry the cash. I can hit an ATM as soon as I get off the plane and I'm topped up.

.

NICE.

It only takes a bit of google search to find out about options such as this and they sure are worth the effort to discover.

[HooHaa]

Yes, I'll vote for cash too. The new "TT Exchange" places in Pattaya / Jomtien usually offer exchange rates that are about 0.5฿ better than the Banks. Watch out though, they like clean, untorn, unmarked and unfolded notes. You can always open a safe deposit box to keep your cash and passport safe.

Other methods I use are to go inside the Bank to withdraw money on a foreign card as you duck the ATM fee. Travel cheques are a no-no now because they wanted ฿135 off me for each one no matter what value it was, so I took them back home for a fee-free refund.

Sending to a Thai Bank account is quite good, as long as I say 'send sterling' so my home Bank doesn't do the conversion at a lousy rate.

Really, it's 'up to you' as they say. If it's just a short visit and not a lot of money, why worry over a few Baht? I used to get upset over being diddled a bit, but then I simply decided to stop worrying about losing the cost of one lady drink on the exchange rate.

it is not at all easy to get a safety deposit box in thailand.

[wotaplonker]

trav cheques still an option despite the charge, i took £600 of tc's in £200 x 3 so charge was only £9 (3x150 baht) hardly the end of the world for the safety of the cheques if you lost them or were burgled, i took my balance of spending money in cash and ny santander debit card for any emergency, just make sure your hotel room has a safe, i know they are not 100% but are preferable to those safes some places have in the lobby

Cheers

[Jiu-Jitsu]

trav cheques still an option despite the charge, i took £600 of tc's in £200 x 3 so charge was only £9 (3x150 baht) hardly the end of the world for the safety of the cheques if you lost them or were burgled, i took my balance of spending money in cash and ny santander debit card for any emergency, just make sure your hotel room has a safe, i know they are not 100% but are preferable to those safes some places have in the lobby

Cheers

Did you pay for the TCs? Of course you can get them for free, but did you? Others can pay up to 1.5% for them.

Santander Debit is not good, unless it is a Zero Debit.

[Thongkorn]

just bring cash.

We go to the Chinese money changers in Bangkok, go with a high rate of exchange rate from a bank, They will better it by a few baht depending on how much you change. I have change up to £6000, about 300,000 baht, in one go, the banks usually only change smaller amounts. You have to take clean Big paper money notes. No writing on them totally clean, or they will not except them.

Edited October 23, 2014 by Thongkorn

[Acharn]

I use a VISA card issued by my credit union at the ATM. Bangkok Bank charges THB 150, all the others charge THB 180 per transaction. I check the exchange rate that I get regularly and it seems in line with the quotes at XE.com and the FXConverter, so I seem to be paying 1% or less foreign exchange commission. Your bank may not be so favorable. I usually try to find a BKK Bank ATM if I can for the THB 30 difference, but it's really trivial. I don't think I'd be comfortable carrying large quantities of cash, especially on foreign travel.

[KhnomKhnom]

You are on holiday; why waste part of it trying to save 30 to 200THB with lots of jumping around. Just use your ATM and forget about beating banks systems.

[ChrisKC]

I would like to thank all of those who have replied to my question and took the time, in some cases to be very helpful. I have already advised my friend to bring the cash and exchange here in Thailand. And as a back-up to bring his Cards as well.

One Correspondent seems to think it is a waste of holiday time to be worrying about trying to save a few Baht on currency exchange. So I say,

"Why bother doing any research at all? Why not just arrive in Thailand and have no idea what to expect?

The time spent BEFORE arriving in Thailand is simply homework to AVOID wasting holiday time".

We can agree on that, can't we?