THAI CASH - Transfer or Exchange?

reastarfish

I'm going on holiday to Thailand on 18th September for 2 weeks to stay with my friend who lives there.

I'm trying to figure out the best way to take my cash. She has a Thai bank account so I was thinking I could transfer my spending money to her account then she could just withdraw it for me as and when I need it. I thought this might get round me having to lug round lots of cash or withdraw on my bank cards (I have the really bad ones that charge a fortune to use abroad).

I'm not sure what the conversion rate would be like when I transfer the cash - or if I can even transfer the cash to a Thai bank account for that matter (I have a Lloyds TSB current account)

Can anyone shed some light on this?

Heliflyguy

I have always taken mainly cash and sometimes Travelers cheques (for the security and in sterling) as the exchange rate is better changing your money in Thailand.

Some regular travellers there recommend the FairFX card as do people on this forum.

http://www.fairfx.com/

I have no idea what your bank will charge to transfere the money to your friends Thai account (it wouldnt be a problem to do this) you would need to speak to your bank to find out the cost and the exchange rate you would get but I dont think this option will give you the best value.

For only a 2 week holiday and to be able to get at your money when you like I think you would be better off taking either cash, TC's or card or a selection or all maybe.
Have you been to Thailand before?

CountryGoose

I'd go with the fairfx card, but beware of the 150THB (£3) charge just about every ATM makes for a foreign card.

Some people have reported very good rates with Travellers Cheques, but you need to have cheques in high denominations, as many places have a per cheque fee for cashing of around 30THB. Also, Amex cheques seem to be universally accepted, you may struggle with others.

I wouldn't consider money transfers for a two week vacation.

fifeken

Heliflyguy wrote: »

.... you would need to speak to your bank to find out the cost and the exchange rate you would get but I dont think this option will give you the best value.

Transferring money like this is usually a good option but don't ask your bank for the exchange rate as it will be a poor one. Ask for the money to be transferred in Sterling and let the receiving bank change it to baht. You'll get a significantly better rate.

There are also companies outside the banks that will do transfers that may have cheaper charges.