Best way to obtain Thai Baht while on holiday

[mutha289]

When the wife visits she always prefers to exchange 50 or 100 dollar bills, evidently she gets a better rate when exchanging the higher denomination bills.

[Jiu-Jitsu]

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?

At least you know who to put on Ignore.

[Liquorice]

Jiu-Jitsu, on 23 Oct 2014 - 17:51, said:

Faz, on 23 Oct 2014 - 14:18, said:

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.

I never said there were no charges, I said the Nationwide Flexaccount was the cheapest Visa debit card for Foreign cash withdrawals from an ATM.

I never mentioned the Flexplus account because of the monthly charge, so I'll stand by what I said.

The Flexplus obviously isn't cheaper, so you've got that wrong.

Your obviously not a maths teacher then!

Have you seen the exchange rates N&P and Cumberland offer..............................

[Jiu-Jitsu]

I know what you wrote...and you are still wrong and yes I do know what rates the N&P and Cumberland offer. Did you?

N&P: FREE overseas debit card usage - No cash withdrawal and retail transaction charges or handling fees when using your N&P VISA debit card overseas.

If you carry out a transaction using your Card in a currency other than sterling it will be
converted on the date that the amount of the transaction is debited from your Account at the
wholesale rate of exchange applied by VISA.

Cumberland: FREE foreign currency transactions
We will not charge you any additional fees when using your card for foreign currency transactions

When you use your Cumberland Visa debit card to carry out a transaction in a currency other than sterling, unless you are offered and accept a currency conversion rate at the time, transactions will be converted into sterling at the exchange rate on the date they are received by Visa in the UK.

To get an idea of the exchange rate that would be used, you can view the Visa rate of exchange at www.visaeurope.com/fxcalculator.

So, once again, you are wrong about the FlexAccount and twice wrong about the N&P and Cumberland. Check the facts before posting, to prevent embarrassment.

Edited October 25, 2014 by Jiu-Jitsu

[Liquorice]

I'm not arguing. Read Money Supermarket or Money Travel.

Nothings FREE, there's always a charge somewhere or a crap exchange rate. How do you think they make their money?

[Chivas]

just bring cash.

Fine as long as you remember that hard cash limits are very low before questions can be asked by Custom and Excise if they so desire,

Only £1,000 out of the UK before questions "can" be asked as to origin....

[Jiu-Jitsu]

I'm not arguing. Read Money Supermarket or Money Travel.

Nothings FREE, there's always a charge somewhere or a crap exchange rate. How do you think they make their money?

Are you completely thick? There is no charge and the exchange rate is the VISA exchange rate. No deductions. As to the sites you mention, I contribute to them.

Please don't continue to embarrass yourself by pointing to websites that you don't understand.

[sometimewoodworker]

I'm not arguing. Read Money Supermarket or Money Travel.

Nothings FREE, there's always a charge somewhere or a crap exchange rate. How do you think they make their money?

Are you completely thick? There is no charge and the exchange rate is the VISA exchange rate. No deductions. As to the sites you mention, I contribute to them.

Please don't continue to embarrass yourself by pointing to websites that you don't understand.

It looks as if you are misunderstanding each other and ad hominem attacks don't improve your point.

The VISA forex rate is almost always worse than the bank forex rate. Typically it is arround 1% worse depending on the currency. For someone who dosen't move in large amounts that isn't much and it is more convienent than bringing in cash.

But Faz is correct that there is a hidden charge in the VISA exchange rate compared to most bank rates.

However you need to look at the VISA forex rate and the bank or money changer cash rate to decide which is better.

As a matter of interest superrich (green) is about .7% better than VISA.

I have done my research based on the Yen Bhat rate other rates will be a little different but the principal will be the same.

Edited October 26, 2014 by sometimewoodworker

[Jiu-Jitsu]

I'm not arguing. Read Money Supermarket or Money Travel.

Nothings FREE, there's always a charge somewhere or a crap exchange rate. How do you think they make their money?

Are you completely thick? There is no charge and the exchange rate is the VISA exchange rate. No deductions. As to the sites you mention, I contribute to them.

Please don't continue to embarrass yourself by pointing to websites that you don't understand.

It looks as if you are misunderstanding each other and ad hominem attacks don't improve your point.

The VISA forex rate is almost always worse than the bank forex rate. Typically it is arround 1% worse depending on the currency. For someone who dosen't move in large amounts that isn't much and it is more convienent than bringing in cash.

But Faz is correct that there is a hidden charge in the VISA exchange rate compared to most bank rates.

However you need to look at the VISA forex rate and the bank or money changer cash rate to decide which is better.

As a matter of interest superrich (green) is about .7% better than VISA.

I have done my research based on the Yen Bhat rate other rates will be a little different but the principal will be the same.

We aren't misunderstanding each other. His statement was that the Nationwide Flexaccount Visa card was the best. The Nationwide card uses the VISA wholesale exchange rate, but shaves off 2% for itself, plus another £1 for ATM withdrawals. The two institutions that I mentioned do nothing of the sort, but use the same wholesale exchange rate.

His argument has nothing to do with comparisons between "bank rates"(as you have put them) and the VISA wholesale exchange rate. Don't embarrass yourself.

As to your particular brand of nonsense about banks and Visa rates.....

24th of October

VISA rate: 1 BRITISH POUND = 51.6252946288 THAI BAHT

Bangkok Bank Forex rate: 51.23 Buying Rate for cash 51.53000 Sight Bill(Travellers Cheques) 51.66500 (Telegraphic Transfers)

Perhaps you can point out the hidden charge to me. I can't quite see it.

As I've suggested before, if you can't quite get the gist of the argument.....

[sometimewoodworker]

I'm not arguing. Read Money Supermarket or Money Travel.

Nothings FREE, there's always a charge somewhere or a crap exchange rate. How do you think they make their money?

Are you completely thick? There is no charge and the exchange rate is the VISA exchange rate. No deductions. As to the sites you mention, I contribute to them.

Please don't continue to embarrass yourself by pointing to websites that you don't understand.

It looks as if you are misunderstanding each other and ad hominem attacks don't improve your point.

The VISA forex rate is almost always worse than the bank forex rate. Typically it is arround 1% worse depending on the currency. For someone who dosen't move in large amounts that isn't much and it is more convienent than bringing in cash.

But Faz is correct that there is a hidden charge in the VISA exchange rate compared to most bank rates.

However you need to look at the VISA forex rate and the bank or money changer cash rate to decide which is better.

As a matter of interest superrich (green) is about .7% better than VISA.

I have done my research based on the Yen Bhat rate other rates will be a little different but the principal will be the same.

We aren't misunderstanding each other. His statement was that the Nationwide Flexaccount Visa card was the best. The Nationwide card uses the VISA wholesale exchange rate, but shaves off 2% for itself, plus another £1 for ATM withdrawals. The two institutions that I mentioned do nothing of the sort, but use the same wholesale exchange rate.

His argument has nothing to do with comparisons between "bank rates"(as you have put them) and the VISA wholesale exchange rate. Don't embarrass yourself.

As to your particular brand of nonsense about banks and Visa rates.....

24th of October

VISA rate: 1 BRITISH POUND = 51.6252946288 THAI BAHT

Bangkok Bank Forex rate: 51.23 Buying Rate for cash 51.53000 Sight Bill(Travellers Cheques) 51.66500 (Telegraphic Transfers)

Perhaps you can point out the hidden charge to me. I can't quite see it.

As I've suggested before, if you can't quite get the gist of the argument.....

It is in your own figures if you can be bothered to read them

And bank forex and visa forex are as I said and as you have shown different and visa is almost always worse

The superrich cash rate is relevant as it is competitive with the bank and VISA TTS rates

I have no interest in the argument over which credit, or debit, card is better and was not commenting on that I was pointing out that they (visa) almost always have a forex rate that is worse than the bank forex rate. Which you have just proved.

However to reiterate if you are not changing much then using plastic is worth the difference for its convenience.

The OP wanted to know the best way to obtain Bhat and the best rate, and that will often be from superrich.

25/10 visa. 51.7812758906

25/10 superrich (green) 52.00

Superrich orange ( that has an airport branch) 24/10 51.75 so still better than your visa rate

Edited October 26, 2014 by sometimewoodworker

[Jiu-Jitsu]

Oh dear...trying to obfuscate are we?

I already stated in my very first post that cash was the best idea.

But we had since long moved on and we were discussing plastic. It was at this point that you stuck your oar in....and got it badly wrong.

What you actually wrote was

But Faz is correct that there is a hidden charge in the VISA exchange rate compared to most bank rates.

But you have failed to show us quite where the hidden charge might be.

Again:

24th of October

VISA rate: 1 BRITISH POUND = 51.6252946288 THAI BAHT

Bangkok Bank Forex rate: 51.23 Buying Rate for cash 51.53000 Sight Bill(Travellers Cheques) 51.66500 (Telegraphic Transfers)

Please point out the hidden VISA charge. The VISA rates are clearly better than the bank's Cash and Travellers Cheque rate. If you are trying to suggest that it is the four hundredths of one baht for when it comes to Telegraphic Transfers. I would suggest that your claim is patently ridiculous. Even if you speak of the equivalent of £1000 via TT the differerence between 51625 and 51665 is 40 baht. That is a difference of around 0.008%. A far cry from your 1% claim.

Now I can buy £1000 worth of goods at the full VISA rate and lose just 40 baht against the TT rate. Even if I withdrew via the ATM, I could possibly get it in 2 pulls at 150 baht each per pull. So a total loss of 340 baht.

But if I wanted to send £1000 from the UK to take advantage of the bank's TT rate, I would pay on both ends, usually a minimum of 1000 baht.

So please, less of the nonsense about hidden VISA rates.

You are wrong. Admit it and move on or continue your stance of pretending that you didn't stick your oar into an argument that you didn't understand.

[songhklasid]

I bring cash, change @ money exchange ( there's a couple round nana BKK area) then walk straight to bangkok bank & deposit into my thai bangkok bank account, & use funds as required, only a 20 baht withdrawal fee outside of bkk

cheers S.S.

Edited October 26, 2014 by songhklasid

[scubascuba3]

In between the bickering, anyone know how much a safe deposit box costs to rent?

[Jiu-Jitsu]

In between the bickering, anyone know how much a safe deposit box costs to rent?

Best way to obtain Thai Baht while on holiday.....is the title of this thread....lest you didn't notice.

[scubascuba3]

In between the bickering, anyone know how much a safe deposit box costs to rent?

Best way to obtain Thai Baht while on holiday.....is the title of this thread....lest you didn't notice.

A yes I noticed, someone mentioned a safe deposit box further up so there is a link. You go back to bickering it will make you happier

[Jiu-Jitsu]

In between the bickering, anyone know how much a safe deposit box costs to rent?

Best way to obtain Thai Baht while on holiday.....is the title of this thread....lest you didn't notice.

A yes I noticed, someone mentioned a safe deposit box further up so there is a link. You go back to bickering it will make you happier

Already happy. Happy that that you've found your safe deposit box. C ya.