IMPORTANT! This is MoneySavingExpert's open forum - anyone can post

Please exercise caution & report any spam, illegal, offensive, racist, libellous post to forumteam@moneysavingexpert.com

  • Be nice to all MoneySavers
  • All the best tips go in the MoneySavingExpert weekly email

    Plus all the new guides, deals & loopholes

  • No spam/referral links
or Login with Facebook
Holiday Money to Thailand
Closed Thread
Views: 7,548
Thread Tools Search this Thread Display Modes
# 1
WOW Factor 0
lima
Old 25-10-2005, 12:33 PM
MoneySaving Newbie
 
Join Date: Oct 2005
Posts: 11
Default Holiday Money to Thailand

Going toThailand for a couple of weeks soon, can anyone advise which currency to take and whether cash, travllers cheques or cashpoint is the best option?

Thanks
lima is offline
Report Post
# 2
littlereddevil
Old 25-10-2005, 1:19 PM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Mar 2005
Location: Scotland
Posts: 4,003
Default

When I go I buy about £100 of baht before i go then I just take english notes with me to change anywhere.You can get money from cashpoints over there I think there is a thread here somewhere about best credit card to use
travelover
littlereddevil is offline
Report Post
The Following User Says Thank You to littlereddevil For This Useful Post: Show me >>
# 3
grumbler
Old 25-10-2005, 1:20 PM
Deliciously Dedicated Diehard MoneySaving Devotee
 
Join Date: Feb 2005
Posts: 42,036
Default

The cheapest way to spend overseas: save 6% Martin'a article.

ATM and Nationwide debit/cash card are always the best option. What debit card do you have? It could be better too than buying cheques or currency here in UK.
We are born naked, wet and hungry...Then things get worse.

.withdrawal, NOT withdrawel ..bear with me, NOT bare with me
.definitely, NOT definately ......separate, NOT seperate
should have, NOT should of
.....guaranteed, NOT guarenteed
grumbler is offline
Report Post
The Following User Says Thank You to grumbler For This Useful Post: Show me >>
# 4
sukey13
Old 25-10-2005, 1:32 PM
MoneySaving Stalwart
 
Join Date: Jul 2004
Location: SW England
Posts: 261
Default

Definitely open up a Nationwide Flex Account then you can withdraw cash out the atms over there with no charge.

Open at least a month before you go - tried to open ours with a fortnight to go before our holiday and they took ages to set it up and didn't do it in time. At least it's ready for next time.
sukey13 is offline
Report Post
The Following User Says Thank You to sukey13 For This Useful Post: Show me >>
# 5
lima
Old 25-10-2005, 1:51 PM
MoneySaving Newbie
 
Join Date: Oct 2005
Posts: 11
Default

Thanks for yor replies. I already have a Nationwide flex so looks like I'm already one step ahead! As suggested will probably take £100 in Thai baht and withdraw the rest. Does debit card give a better exchange rate than taking money and putting surplus in hotel safe or is security the main issue?
lima is offline
Report Post
# 6
grumbler
Old 25-10-2005, 2:20 PM
Deliciously Dedicated Diehard MoneySaving Devotee
 
Join Date: Feb 2005
Posts: 42,036
Default

Quote:
Originally Posted by lima
Thanks for yor replies. I already have a Nationwide flex so looks like I'm already one step ahead! As suggested will probably take £100 in Thai baht and withdraw the rest. Does debit card give a better exchange rate than taking money and putting surplus in hotel safe or is security the main issue?
The exchange rate is the main issue. The rate you get when withdrawing currency with Nationwide card is the best and cannot be beaten. I even wouldn't take £100 in local currency. You can withdraw money right at the Thailand airport. In unlikely case of emergency (ATM is out of order) you can always exchange some ££s to local currecy at Thailand airport.
We are born naked, wet and hungry...Then things get worse.

.withdrawal, NOT withdrawel ..bear with me, NOT bare with me
.definitely, NOT definately ......separate, NOT seperate
should have, NOT should of
.....guaranteed, NOT guarenteed
grumbler is offline
Report Post
# 7
Donnie
Old 25-10-2005, 2:32 PM
PPR
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Aug 2004
Posts: 9,699
Default

Quote:
Originally Posted by lima
Thanks for yor replies. I already have a Nationwide flex so looks like I'm already one step ahead! As suggested will probably take £100 in Thai baht and withdraw the rest. Does debit card give a better exchange rate than taking money and putting surplus in hotel safe or is security the main issue?
NO! (where are my smileys?)

Don't change ANY money in the UK, it's COMPLETELY pointless. Just take your Nationwide card with you, there are cashpoints at the airport.
You can take the £100 in UK cash with you if you like, for emergencies.
ie. If you need to withdraw cash more than twice a day(Nationwide may limit you to two withdrawals daily for security purposes) or you misplace your card and need something to tide you over.
Did you explore the links given to you? The Nationwide DC gives the best exchange rate anywhere.

In addition to this, I would take the Nationwide CC for purchases. I wouldn't dream of handing my debit card over to someone. Debit card for cash withdrawal, Credit card for purchases.

Last edited by Donnie; 25-10-2005 at 2:38 PM.
Donnie is offline
Report Post
# 8
pin
Old 25-10-2005, 3:19 PM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Jul 2004
Location: The Orient
Posts: 4,198
Default

There are plenty of ATM machines at the airport. Change your money when you get there, no need to take any spare sterling with you for money exchanging.

However I always take some spare currency (I carry some £, $ and €) whenever I go away now.
pin is offline
Report Post
# 9
Donnie
Old 25-10-2005, 3:24 PM
PPR
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Aug 2004
Posts: 9,699
Default

Quote:
Originally Posted by pin
There are plenty of ATM machines at the airport. Change your money when you get there, no need to take any spare sterling with you for money exchanging.

However I always take some spare currency (I carry some £, $ and €) whenever I go away now.
Your post is contradictory.

"Change your money when you get there, no need to take any spare sterling with you for money exchanging."

"However I always take some spare currency (I carry some £, $ and €) whenever I go away now."
Donnie is offline
Report Post
# 10
pin
Old 25-10-2005, 4:04 PM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Jul 2004
Location: The Orient
Posts: 4,198
Default

Quote:
Originally Posted by Donnie
Your post is contradictory.

"Change your money when you get there, no need to take any spare sterling with you for money exchanging."

"However I always take some spare currency (I carry some £, $ and €) whenever I go away now."
Not wanting to get into an argument here.

The spare currency is for emergeny purposes only, I never take it with the view to converting it, just for emergencies.
pin is offline
Report Post
# 11
Donnie
Old 25-10-2005, 6:40 PM
PPR
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Aug 2004
Posts: 9,699
Default

Only teasing...I can't seem to find my 'smileys'.

It's just that I wrote, "You can take the £100 in UK cash with you if you like, for emergencies."
and then you wrote,
"no need to take any spare sterling with you for money exchanging." and ""However I always take some spare currency (I carry some £, $ and €) whenever I go away now."

Of course, you were just agreeing with me, just the way you wrote it was completely contradictory.

Can you help me find my 'smileys'?
Donnie is offline
Report Post
# 12
Donnie
Old 25-10-2005, 6:51 PM
PPR
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Aug 2004
Posts: 9,699
Default

Wahey! I think I've found them.
Donnie is offline
Report Post
# 13
pin
Old 26-10-2005, 9:30 AM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Jul 2004
Location: The Orient
Posts: 4,198
Default

Sorry, my bad. Didn't read your post properly, I thought you meant take the £100 to change at the airport. Got it wrong.
pin is offline
Report Post
# 14
edwardandtubs
Old 28-10-2005, 11:30 AM
MoneySaving Convert
 
Join Date: Nov 2004
Posts: 37
Default

I'm off to Thailand in a weeks time and dont have a Nationwide account, I'm with Barclays (Connect Debit Card).

I'm trying to figure out whether or not to take travellers cheques (in sterling) or my debit card??.

Can anyone advise whats the best option??
edwardandtubs is offline
Report Post
# 15
Donnie
Old 28-10-2005, 2:11 PM
PPR
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Aug 2004
Posts: 9,699
Default

American Express Sterling Travellers Cheques will be slightly better value, though the debit card will be convenient.
Donnie is offline
Report Post
# 16
edwardandtubs
Old 28-10-2005, 2:29 PM
MoneySaving Convert
 
Join Date: Nov 2004
Posts: 37
Default

Thought as much, just wanted to confirm. Barclays slap quite a bit of a charge on it dont they...
edwardandtubs is offline
Report Post
# 17
grumbler
Old 28-10-2005, 3:14 PM
Deliciously Dedicated Diehard MoneySaving Devotee
 
Join Date: Feb 2005
Posts: 42,036
Default

Quote:
Originally Posted by edwardandtubs
... Barclays slap quite a bit of a charge on it dont they...
http://www.personal.barclays.co.uk/B..._self&site=pfs :
Quote:
Charge for Barclays handling costs and any VISA processing fees (included in the sterling conversion on your statement) 2.75%

Additional charge for all foreign transactions via a cash machine
or in a bank over the counter .... 1.5% (min £1.50, max £4.50)
I think with cheques you will lose about the same - but will have less flexibility. Do your maths before buying cheques. For current interbank rate see http://www.oanda.com/.
We are born naked, wet and hungry...Then things get worse.

.withdrawal, NOT withdrawel ..bear with me, NOT bare with me
.definitely, NOT definately ......separate, NOT seperate
should have, NOT should of
.....guaranteed, NOT guarenteed

Last edited by grumbler; 28-10-2005 at 3:17 PM.
grumbler is offline
Report Post
# 18
pin
Old 28-10-2005, 3:44 PM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Jul 2004
Location: The Orient
Posts: 4,198
Default

Remember in Thailand there is a 50 baht fee per TC you cash in.
pin is offline
Report Post
# 19
edwardandtubs
Old 28-10-2005, 5:13 PM
MoneySaving Convert
 
Join Date: Nov 2004
Posts: 37
Default

Quote:
Originally Posted by pin
Remember in Thailand there is a 50 baht fee per TC you cash in.
Grumbler, Pin.

If I take a £50 Sterling Travellers cheque with me (for example) and cash it and get 72.78261 Bahts to the £1 (according to oanda.com) and pay the 50 baht charge which is about 68p, isnt this better than withdrawing £50 and getting charged 2.75% (£1.38) and 1.5% (min £1.50) in total £3.88?

I'm confused...
edwardandtubs is offline
Report Post
# 20
grumbler
Old 28-10-2005, 5:57 PM
Deliciously Dedicated Diehard MoneySaving Devotee
 
Join Date: Feb 2005
Posts: 42,036
Default

Quote:
Originally Posted by edwardandtubs
If I take a £50 Sterling Travellers cheque with me (for example) and cash it and get 72.78261 Bahts to the £1 (according to oanda.com) and pay the 50 baht charge which is about 68p, isnt this better than withdrawing £50 and getting charged 2.75% (£1.38) and 1.5% (min £1.50) in total £3.88?...
1. I've never used travel cheques. I could be wrong, but I always was under impression that you never get interbank rate when selling them - the same as with currency exchange. The only advantage is extra protection.
2. Yes, with £1.50 fixed charge it is not a good idea to withdraw such small amonts as £50. If, for example. you withdraw £250 it will be just extra 0.6%, as compared to 3% for £50.
We are born naked, wet and hungry...Then things get worse.

.withdrawal, NOT withdrawel ..bear with me, NOT bare with me
.definitely, NOT definately ......separate, NOT seperate
should have, NOT should of
.....guaranteed, NOT guarenteed
grumbler is offline
Report Post
Closed Thread

Bookmarks
 
 




Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

 Forum Jump  

Contact Us - MoneySavingExpert.com - Archive - Privacy Statement - Top

Powered by vBulletin® Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.

All times are GMT. The time now is 4:36 AM.

 Forum Jump  

Free MoneySaving Email

Top deals: Week of 19 November 2014

Get all this & more in MoneySavingExpert's weekly email full of guides, vouchers and Deals

GET THIS FREE WEEKLY EMAIL Full of deals, guides & it's spam free

Latest News & Blogs

Martin's Twitter Feed

profile

Cheap Travel Money

Find the best online rate for holiday cash with MSE's TravelMoneyMax.

Find the best online rate for your holiday cash with MoneySavingExpert's TravelMoneyMax.

MSE's Twitter Feed

profile
Always remember anyone can post on the MSE forums, so it can be very different from our opinion.
We use Skimlinks and other affiliated links in some of our boards, for some of our users.