Comments on: My first time in Thailand, currency and travelers cheques….please help? http://www.myylt.com/2008/10/30/my-first-time-in-thailand-currency-and-travelers-chequesplease-help/ Discussion of Forex Trading and Currency Trading Tue, 22 May 2012 05:04:30 +0000 http://wordpress.org/?v=2.3.3 By: azza http://www.myylt.com/2008/10/30/my-first-time-in-thailand-currency-and-travelers-chequesplease-help/#comment-8979 azza Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2008/10/30/my-first-time-in-thailand-currency-and-travelers-chequesplease-help/#comment-8979 Traveller's cheques are special cheques which you cash at the bank for the local currency (in this case, Thai baht). You can also use them to pay for things in some tourist areas. The advantage of them is that you need to show your passport to cash them, which means that they offer you a lot more security than cash. You can also cancel them if they get stolen and get your money back. So, they are quite secure. However, the exchange rate for traveller's cheques is nowhere near as good as the exchange rate for cash, so they end up being a fair bit more expensive to use. This is the trade off: They're more secure, but cost more. Anyway, in response to your question about cash in Thailand: Id buy enough Thai baht to last you a few days before you arrive. That will mean that you wont have to go looking for a money changer at the airport when you first arrive, which is a bit of a hassle. Thailand has heaps of ATM's as well, so, if you have a credit card, then Id suggest that you just bring it, as well as some cash for the first few days, and then just use your card to get more money out as you need it. Unless you are planning to travel into Cambodia, Laos or Myanmar, there is no real need to bring traveller's cheques or US$ in cash. Traveller’s cheques are special cheques which you cash at the bank for the local currency (in this case, Thai baht). You can also use them to pay for things in some tourist areas.

The advantage of them is that you need to show your passport to cash them, which means that they offer you a lot more security than cash. You can also cancel them if they get stolen and get your money back. So, they are quite secure.

However, the exchange rate for traveller’s cheques is nowhere near as good as the exchange rate for cash, so they end up being a fair bit more expensive to use. This is the trade off: They’re more secure, but cost more.

Anyway, in response to your question about cash in Thailand: Id buy enough Thai baht to last you a few days before you arrive. That will mean that you wont have to go looking for a money changer at the airport when you first arrive, which is a bit of a hassle.

Thailand has heaps of ATM’s as well, so, if you have a credit card, then Id suggest that you just bring it, as well as some cash for the first few days, and then just use your card to get more money out as you need it. Unless you are planning to travel into Cambodia, Laos or Myanmar, there is no real need to bring traveller’s cheques or US$ in cash.

]]> By: silentnonrev http://www.myylt.com/2008/10/30/my-first-time-in-thailand-currency-and-travelers-chequesplease-help/#comment-8980 silentnonrev Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2008/10/30/my-first-time-in-thailand-currency-and-travelers-chequesplease-help/#comment-8980 yeah, blow off the traveler checks, they are a pain. Just use your ATM card and get all the Baht you need (at the airport too)--and many places (at least in Bangkok, Phuket etc) take credit cards yeah, blow off the traveler checks, they are a pain. Just use your ATM card and get all the Baht you need (at the airport too)–and many places (at least in Bangkok, Phuket etc) take credit cards

]]> By: IceCube http://www.myylt.com/2008/10/30/my-first-time-in-thailand-currency-and-travelers-chequesplease-help/#comment-8981 IceCube Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2008/10/30/my-first-time-in-thailand-currency-and-travelers-chequesplease-help/#comment-8981 Think of Travellers' Cheque or TC as a banker's cheque which you can sell anywhere and will get a better exchange rate than exchanging your banknotes or cash advance, or international ATM card. The catch is there a minimum free on encashing each TC, which is about one dollar more or less. TC uses will come down to cheaper than using cards and ATM, but you have to purchase it (meaning you pay in advance) while with cards you pay real-time (debiting your account in real time. Sometimes, if you're lucky there's a promotion on TC and they waive some fee on it, so you'll be better off. TC is safe in a way that once your purchase it, you sign your name on it and once you sell it, you sign another name. Keep the number in safe place, as if you lost it you can reclaim your money (given some tedious procedure). For Thailand, anything works. Yes, you'll need petty cash on arrival as on streets only local currency which is Thai baht works. But, you can exchange pretty much of the major currencies at the airport, which host about three major local bank branches. Suggest you use a combination of US (EURO or GBP) cash, TC and bring your card. I do that in case things doesn't work, but again sometimes only one credit card is sufficient to get you through (don't put it in the washing machine before you come!) Think of Travellers’ Cheque or TC as a banker’s cheque which you can sell anywhere and will get a better exchange rate than exchanging your banknotes or cash advance, or international ATM card. The catch is there a minimum free on encashing each TC, which is about one dollar more or less. TC uses will come down to cheaper than using cards and ATM, but you have to purchase it (meaning you pay in advance) while with cards you pay real-time (debiting your account in real time. Sometimes, if you’re lucky there’s a promotion on TC and they waive some fee on it, so you’ll be better off. TC is safe in a way that once your purchase it, you sign your name on it and once you sell it, you sign another name. Keep the number in safe place, as if you lost it you can reclaim your money (given some tedious procedure).
For Thailand, anything works. Yes, you’ll need petty cash on arrival as on streets only local currency which is Thai baht works. But, you can exchange pretty much of the major currencies at the airport, which host about three major local bank branches.
Suggest you use a combination of US (EURO or GBP) cash, TC and bring your card. I do that in case things doesn’t work, but again sometimes only one credit card is sufficient to get you through (don’t put it in the washing machine before you come!)

]]> By: Khun Bob http://www.myylt.com/2008/10/30/my-first-time-in-thailand-currency-and-travelers-chequesplease-help/#comment-8982 Khun Bob Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2008/10/30/my-first-time-in-thailand-currency-and-travelers-chequesplease-help/#comment-8982 Don't know where your coming from but it usually better to get your baht here in Thailand at the Airport. In Bangkok you will find many exchange booths through the city or banks will convert your money or travelers checks to baht. You will get a better rate with travelers checks then cash. However consider using an ATM card it's easy and safe. Just remember if you want to use an ATM card or Credit Card you need to let your bank know so they don't lock your account when you try to make a withdrawal or purchase. Don’t know where your coming from but it usually better to get your baht here in Thailand at the Airport. In Bangkok you will find many exchange booths through the city or banks will convert your money or travelers checks to baht. You will get a better rate with travelers checks then cash. However consider using an ATM card it’s easy and safe. Just remember if you want to use an ATM card or Credit Card you need to let your bank know so they don’t lock your account when you try to make a withdrawal or purchase.

]]> By: karazyal http://www.myylt.com/2008/10/30/my-first-time-in-thailand-currency-and-travelers-chequesplease-help/#comment-8983 karazyal Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2008/10/30/my-first-time-in-thailand-currency-and-travelers-chequesplease-help/#comment-8983 Don't change any money over to Thai baht in your country - you get a better rate in Thailand. Thailand uses real banks and mini banks. These banks are all over the place. The rate changes each day, the rate you get today will be different the following day - but not by much. Most of the banks will have only a few fractions of a baht difference. There are several banks at the airport 24 hours a day. Travelers checks DO get a slightly better rate of exchange in Thailand than ordinary cash. The difference is not much but it is a little bit more. There is a 33 baht fee for each travelers check so only bring the largest denominations you can. Travelers checks add safety to your available money. You can save the travelers check numbers in an email that you send to your self and then save. You can also save other "need to know" info like flight confirmation numbers and itineraries/schedules in email form too. This way if you need that data because the checks are missing you can easily get it from at an internet shop when you access your email account. Some banks and credit unions sell travelers checks to members without commission so look around your town. You can also use ATMs to get cash in Thailand. They are all over the place. Take out the maximum you can to cut down on lots of ATM fees for small withdrawals. If you use a debit card or credit card notify your bank that you will be in Thailand or the withdrawal may be denied. Some banks and credit unions pay for some of your ATM charges - even when overseas. The fee to cash a travelers check is cheaper than most ATM fees. When you go home you will have an opportunity to change your money over to your home currency at the airport. Use the security box at your hotel to safeguard your money. When you go out only take enough money to see you through one or two days of shopping. Leave very valuable jewelry or precious items at home! Good luck. Don’t change any money over to Thai baht in your country - you get a better rate in Thailand. Thailand uses real banks and mini banks. These banks are all over the place. The rate changes each day, the rate you get today will be different the following day - but not by much. Most of the banks will have only a few fractions of a baht difference. There are several banks at the airport 24 hours a day.

Travelers checks DO get a slightly better rate of exchange in Thailand than ordinary cash. The difference is not much but it is a little bit more. There is a 33 baht fee for each travelers check so only bring the largest denominations you can. Travelers checks add safety to your available money. You can save the travelers check numbers in an email that you send to your self and then save. You can also save other “need to know” info like flight confirmation numbers and itineraries/schedules in email form too. This way if you need that data because the checks are missing you can easily get it from at an internet shop when you access your email account. Some banks and credit unions sell travelers checks to members without commission so look around your town.

You can also use ATMs to get cash in Thailand. They are all over the place. Take out the maximum you can to cut down on lots of ATM fees for small withdrawals. If you use a debit card or credit card notify your bank that you will be in Thailand or the withdrawal may be denied. Some banks and credit unions pay for some of your ATM charges - even when overseas. The fee to cash a travelers check is cheaper than most ATM fees.

When you go home you will have an opportunity to change your money over to your home currency at the airport.

Use the security box at your hotel to safeguard your money. When you go out only take enough money to see you through one or two days of shopping. Leave very valuable jewelry or precious items at home!

Good luck.

]]> By: pixieruby http://www.myylt.com/2008/10/30/my-first-time-in-thailand-currency-and-travelers-chequesplease-help/#comment-8984 pixieruby Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2008/10/30/my-first-time-in-thailand-currency-and-travelers-chequesplease-help/#comment-8984 The first time we visited Thailand, I had money exchanged via the post office before we left the country. This was both expensive and unnecessary. I suggest that you take cash with you. There are exchange places everywhere. You could exchange a couple of hundred dollars at the airport when you arrive and it will keep you going for a while. I suggest against using your credit card for anything, because we purchased an expensive item using our card and were contacted by our bank on our arrival back home and they advised us to cancel our card for security purposes. This was most inconvenient! Have a great time. The first time we visited Thailand, I had money exchanged via the post office before we left the country. This was both expensive and unnecessary. I suggest that you take cash with you. There are exchange places everywhere. You could exchange a couple of hundred dollars at the airport when you arrive and it will keep you going for a while. I suggest against using your credit card for anything, because we purchased an expensive item using our card and were contacted by our bank on our arrival back home and they advised us to cancel our card for security purposes. This was most inconvenient! Have a great time.

]]> By: Babby p http://www.myylt.com/2008/10/30/my-first-time-in-thailand-currency-and-travelers-chequesplease-help/#comment-8985 Babby p Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2008/10/30/my-first-time-in-thailand-currency-and-travelers-chequesplease-help/#comment-8985 I think you'd better keep some money.. maybe you need to buy things or for paying taxi http://thailandmegaexpert.blogspot.com http://thailand-big-fun-traveling.blogspot.com I think you’d better keep some money.. maybe you need to buy things or for paying taxi

http://thailandmegaexpert.blogspot.com
http://thailand-big-fun-traveling.blogspot.com

]]> By: col w http://www.myylt.com/2008/10/30/my-first-time-in-thailand-currency-and-travelers-chequesplease-help/#comment-8986 col w Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2008/10/30/my-first-time-in-thailand-currency-and-travelers-chequesplease-help/#comment-8986 i used to take travellers cheques but you have to carry passport tell them where you are staying etc a bit of a hassle.now i just change some money when i arrive and use my atm card you can take 10,000 baht out a day about £200 english pound. i used to take travellers cheques but you have to carry passport tell them where you are staying etc a bit of a hassle.now i just change some money when i arrive and use my atm card you can take 10,000 baht out a day about £200 english pound.

]]> By: rosie http://www.myylt.com/2008/10/30/my-first-time-in-thailand-currency-and-travelers-chequesplease-help/#comment-8987 rosie Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2008/10/30/my-first-time-in-thailand-currency-and-travelers-chequesplease-help/#comment-8987 when i go i always take some thai cash to see me threw the day when i arrive, but i like most others use my ATM card but dont forget you will be charged buy your bank when you get money out the cash machine when i go i always take some thai cash to see me threw the day when i arrive, but i like most others use my ATM card but dont forget you will be charged buy your bank when you get money out the cash machine

]]> By: Thai-Experience http://www.myylt.com/2008/10/30/my-first-time-in-thailand-currency-and-travelers-chequesplease-help/#comment-8988 Thai-Experience Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2008/10/30/my-first-time-in-thailand-currency-and-travelers-chequesplease-help/#comment-8988 As others suggested, do not change money to Thai Baht at home. The exchange rate in Thailand is much better. You will not need any Thai money before you passed one of the exchange booths on the airport. What I would do: - take some cash in your own currency and exchange it at the airport once you arrived. - Get some travelers cheques as emergency money. If they get stolen or lost, you can get a replacement in Thailand. If you you do not use them all during this holiday, you can either keep them for your next trip, or return them to your bank at home. - For convenience take an ATM card and memorize your pin number. Talk to your bank and find out what the maximum amount is you can take out per day / per month. There usually are limits. If you think you need more money than this limit, take another ATM card or stock up on travelers cheques. - Credit cards are accepted only in the more upscale places in Thailand. And often they charge extra for accepting your credit card. But you can use them to withdraw money from an ATM. As others suggested, do not change money to Thai Baht at home. The exchange rate in Thailand is much better.

You will not need any Thai money before you passed one of the exchange booths on the airport.

What I would do:
- take some cash in your own currency and exchange it at the airport once you arrived.
- Get some travelers cheques as emergency money. If they get stolen or lost, you can get a replacement in Thailand. If you you do not use them all during this holiday, you can either keep them for your next trip, or return them to your bank at home.
- For convenience take an ATM card and memorize your pin number. Talk to your bank and find out what the maximum amount is you can take out per day / per month. There usually are limits. If you think you need more money than this limit, take another ATM card or stock up on travelers cheques.
- Credit cards are accepted only in the more upscale places in Thailand. And often they charge extra for accepting your credit card. But you can use them to withdraw money from an ATM.

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