Visiting Phuket

[N47HAN]

May not be the first to suggest this but on a recent visit from my m8s we came to this conclusion... and it worked!

The exchange rate as you all probably know is far better here than back home.. so forget the travellers cheques English Atm cards, credit cards etc...

Bring your money in "cash" exchange it at one of the banks ( whichever you prefer as far as im aware theyll all do this, however this is based on the Bkk bank in Patong )

The exchange rate at the time this was done was 60ish in the Uk and a little over 70 here.

I took them to the exchange counter where they changed their spending money ( around 2k each for the 3 weeks they were here)

They then immediatley opened a bank account and deposited the money.. ATM card and PIN number given straight away for a cost of 250 Baht ( got a free t-shirt each ) home address they used mine.

The point being , they now had the advantage of the exchange rate being higher here than back home, no fees for travellers cheques , no need to use their english atm and incure more charges

no risk of their credit card being scanned etc..etc..

Now they have Thai Baht safely kept in a bank account at the best rate possible and no charges to withdraw their money , and no worries about using hotel "safety" deposit boxes.

Seemed to be the perfect solution , Hope this may help someone .

[geoffphuket]

quote no charges to withdraw their money

Only the 20 Baht for each transaction from an ATM

[N47HAN]

quote no charges to withdraw their money

Only the 20 Baht for each transaction from an ATM

Free when you use the Bkk bank m8.

P.s still A ###### site cheaper than the atm cost from their uk bank .

crikes didnt realise that dam was profanity?

Edited August 27, 2006 by N47HAN

[jdinasia]

1) Travellers checks (in GBP or USD) often get a BETTER exchange rate than cash! <<Don't get Travellers checks in the UK drawn on THB--- if that is even possible>>

2) If your Thailand bank account is set up in the region where you are withdrawing your money there is typically No Fee

3) The idea of immediately setting up a local bank account does make a LOT of sense. Would work in Phuket easier than in most places in Thailand!

Edited August 27, 2006 by jdinasia

[geoffphuket]

Opening a bank account is a good idea, but I think not all banks would let you open one with a tourist visa....some shopping around might have to be done

[N47HAN]

maybe just got lucky with the bkk then?

but it did seem to be a good solution ,

plus i now have a few atm cards that i can deposit a few baht into that the other half doesnt know about

always handy for those "unexpected expenses "

[true blue]

better way transfer money from uk bank international dept in pounds to account in thailand and get tt rate better than cash and tc

[Kimera]

better way transfer money from uk bank international dept in pounds to account in thailand and get tt rate better than cash and tc

Yes transfer by swift from uk a/c £/ thai. uk 65 --- result into bangkok bank a/c 71.5 ALLWAYS use UK£ from the UK bank!