Thailand - best to get US or GBP Travellers Cheques?

EagerLearner

Hi all,

Escaping Xmas & New Year here to Thailand (1st time we've ever not had xmas here!).

Need to get travellers cheques - your advise much appreciated on:

- Where is best place to get them? PO charge £9.
- Should we get them in GBP or USD for best rates in Thailand?

Many thanks for any advice :beer:

EagerLearner

richardw

You could stick your card in a cash machine at the airport when you get there.

EagerLearner

richardw wrote:

You could stick your card in a cash machine at the airport when you get there.

Thanks Richard but we don't fancy carrying all that cash around and / or paying a withdrawal fee each time we need cash. Plus we don't know that each place we go to will have an ATM, whereas travellers cheque exchange shops seem to be more of a cert...

Travellers Cheques would be the most convenient as we could cash one in when we needed it?

I'm open to suggestions, we just want to pay lowest fees possible.

DMUK

For changing into Baht US dollar traveller cheques are your best bet from experience. USD is the preferred and most widely accepted currency and traveller cheques will get you better rates if you shop around.

Enjoy yourself, you deserve it especially after your LL from hell ordeal (fingers crossed)! I spent a few glorious days in Koh Chang earlier this year - itching to go back!

EagerLearner

Thanks DMUK - and thanks for your support re my landlady from hell saga!

I will get USD ones then, just need now to find who does them the cheapest here in UK...

richardw

I always get best rates from the bank when using the ATM and the charge is only £1.50 for £100 pounds worth of foreign currency. ATM's are everywhere in this world now, like Coca-cola.

LOST

I went in Feb/Mar this year

I used travelex for best rates and picked up currency from airport - great!

loads of places to cash in travellers cheques in Thailand available

atm does charge a fee everytime you take money out so it is worthwhile taking out one large amount as opposed to 2 or 3 smaller amounts

EagerLearner

LOST wrote:

I went in Feb/Mar this year

I used travelex for best rates and picked up currency from airport - great!

Thanks - we want to get travellers cheques as it's more secure than carrying cash - I guess we have to get them here? Then may get some cash in Bankok.

Donnie

NO, NO, NO! Don't get US$ Travellers Cheques. DMUK's advice is completely erroneous. I don't doubt they are trying to be helpful, but....

Purchase American Express Sterling(£) TCs.

There is absolutely no point in losing twice( £ to US$ to Baht) on the exchange rate and then losing out again if you have any left when you return to the UK.

You won't find a single place in Thailand that won't accept Sterling TCs and certainly not at a disadvantaged rate compared to the US$.

I would also insist on larger denominations as there is a 33 baht(50p) charge to cash TCs.

Always exchange at exchange booths affiliated to banks.

You can find an indication of the expected rates here; http://www.bangkokbank.com/Bangkok+Bank/Web+Services/Rates/FX+Rates.htm

EagerLearner

Thank you Donnie - I am glad you said that!

I will phone First Direct and see how much they charge, I know the Post Office want £9, presumably for the entire transaction. They tried to get me to do their Visa international charge card (not a debit or credit card, you just load it with money before you go, one off admin fee of £10 and then charge £1.50 I think per ATM withdrawal), but I couldn't see any benefit - unless anyone can tell me different?

prudryden

EL -
Just so you know. The exchange rate between the £ and the Baht is a function of each currencies exchange rate against the dollar. When you convert £ into any other currency, it first goes thru the dollar and then into the other currency. Banks don't show you this transaction. So, in theory, it shouldn't matter. But, because you are a £ resident, the point made above about returning to the Uk with $ TC and then converting back to £ is a good one.