Help please is it best to take a £sterling currency card to malaysia and thailand????

agudbuk

Thailand ATMs charge 150 baht (abour £3) per transaction for tourists. Best rates are by going back to Travellers Cheques . Cash £200 cheques for the best rate TC s usually get charged about 60 baht and have a better exchange rate. Not as convenient as as debit card but cheaper. Some Uk bank accounts do not charges for buying TCs.

joeno

Take cash, you will get a much better exchange rate than banks or cards in Malaysia and Thailand, using the local money changers, change a small amount at the airport & get the rest in town.

NiftyDigits

agudbuk wrote: »

Thailand ATMs charge 150 baht (abour £3) per transaction for tourists. Best rates are by going back to Travellers Cheques . Cash £200 cheques for the best rate TC s usually get charged about 60 baht and have a better exchange rate. Not as convenient as as debit card but cheaper. Some Uk bank accounts do not charges for buying TCs.

Up to 180 baht now, other than AEON ATMs. TCs cost 33 baht to redeem, not 60 baht.

NiftyDigits

joeno wrote: »

Take cash, you will get a much better exchange rate than banks or cards in Malaysia and Thailand, using the local money changers, change a small amount at the airport & get the rest in town.

Perhaps Thailand, but not Malaysia.

joeno

NiftyDigits wrote: »

Perhaps Thailand, but not Malaysia.

No perhaps about it, you will get a better exchange in both countries.

benjus

joeno wrote: »

No perhaps about it, you will get a better exchange in both countries.

Perhaps you'd like to back that assertion up with something?

These questions come up all the time on this board, and there are many people on here who have plenty of first hand experience and have also researched the matter thoroughly.

In most countries, using a fee-free card (like the Metro Bank debit card, for example) is THE cheapest way to spend or get cash. This is because you get the wholesale exchange rate with no charges.

In a few countries, such as Thailand, it isn't quite so simple, because most Thai ATMs impose their own charge. There are also countries like Argentina where currency restrictions mean that carrying USD cash puts you in a better position than withdrawing local currency. However, places like this are very much the exception to the rule.

busy_izzy123

Thanks all, Ordered a card but it doesnt look like it will arrive in time (we only loaded the min £50 so will use for when we go to Croatia next year).

Think we will be taking both our debit cards and a little bit of cash and hopefully we wont need to spend to much while we're out there.

fifeken

joeno wrote: »

Take cash, you will get a much better exchange rate than banks or cards in Malaysia and Thailand, using the local money changers, change a small amount at the airport & get the rest in town.

Can I be the third poster to contradict you?

The best exchange rate for cash in Thailand at a local money changer will not beat the rate you get from Visa or Mastercard when using an ATM.

As long as you have an account with no overseas transaction fees, and get cash over the counter in a bank or via an Aeon ATM, you will be better off.

agudbuk

Many Thai banks are now charging as much to change travellers cheques as they do for an ATM machine.
The Thai banks will squeeze however you change money and the outlets will charge you for using credit and debit cards.
Other than carrying large amounts of cash the only savings to be made are at the UK end by using the best possible card for UK charges.

NiftyDigits

agudbuk wrote: »

Many Thai banks are now charging as much to change travellers cheques as they do for an ATM machine.
The Thai banks will squeeze however you change money and the outlets will charge you for using credit and debit cards.
Other than carrying large amounts of cash the only savings to be made are at the UK end by using the best possible card for UK charges.

You can use a fee free debit/credit card to withdraw cash over the counter at a bank.