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Money advice

  • shaungt08

    Joined Travelfish
    7th October, 2012
    Location United Kingdom
    Posts: 13

    I'll be going to Koh Samui, Koh phangnan and Ko Tao for 4 weeks with my girlfriend this summer. We will be taking £2000 each how would you recommend us taking our money?? Either cash, travel cheques or travel card or anything else??

    #1 Posted: 9/4/2013 - 14:41

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  • JohnnyM

    Joined Travelfish
    2nd September, 2012
    Posts: 23

    There's ATMs everywhere. I tend to take out a £100/£150 each time (you get charged on each withdrawal) and keep about the same somewhere safe/hidden for emergencies.

    I havent used travellers cheques for years.

    #2 Posted: 9/4/2013 - 15:04

  • Brute

    Joined Travelfish
    16th December, 2012
    Posts: 35

    I agree with Johnny. ATM is the way to go if your only gone for 4 weeks. There pretty accessible is most places and the fee is pretty reasonable. Taking it all
    In cash is risky and travelers cheques could creat alot of headaches. One thing I'd do is have a spare card Incase you lose one. I lost my card traveling once and man was it a headache.

    #3 Posted: 9/4/2013 - 18:04

  • exacto

    Joined Travelfish
    12th February, 2006
    Location United States
    Posts: 2410
    Total reviews: 47
    Places visited:
    At least 98

    For just 4 weeks and all in Thailand, I'd say ATM for the bulk of your money is the best way to go too. Just make sure you've got a 4-digit PIN and let your bank know you are travelling. There are ATM fees and foreign exchange fees, but just think of it as the cost of doing business. Besides, you'll typically get a better rate from an ATM withdrawal than at a foreign exchange window, which makes up for most of the fees.

    Having said that, I think it is smart to always have some back up funds in the form of cash or travellers check or both. A back up ATM card is a smart idea that I'd recommend as well, but even that can't help you if the power is out or the ATM network offline for a few days. I usually travel with the equivalent of about $100 in travellers checks - not much - just to have the emergency backup. If I haven't used them by the end of the trip, then I cash them and use the money for a fun splurge or shopping just before flying home. If TC's are too much of a hassle for you, just have the spare money tucked away in cash somewhere instead. Cheers.

    #4 Posted: 9/4/2013 - 19:47

  • Captain_Bob

    Click here to learn more about Captain_Bob
    Joined Travelfish
    27th May, 2006
    Location Thailand
    Posts: 1645

    Yep, ATM is plan-A followed by a credit card and/or a few TCs as backup plan-B. The islands are notorious for power cuts, but there are also many backup generators in place and ATMs are very reliable. And just in case you forget, keep cash, cards, etc. with you at all times or use a hotel safe. Don't leave valuables in your main backpack or unattended in the room/bungalow. Beware of tourist buses to the south, as sold at travel agents on Khao San Road, as theft from the baggage compartment is common and you don't usually notice until you're on the islands. If you take a bus use the southern bus terminal (Sai Tai Mai) where buses are government-licensed, or Lomprayah which is a reliable company, or take a train.

    #5 Posted: 10/4/2013 - 06:05

  • LeonardCohe-
    n1

    Joined Travelfish
    24th July, 2012
    Posts: 2148
    Total reviews: 11

    Cash is best for islands. Mind you conversion rates are better in Bangkok.

    #6 Posted: 10/4/2013 - 09:17

  • boaby

    Joined Travelfish
    26th January, 2011
    Posts: 29

    Hi

    if taking tc's its best to have them in decent demominations £50 plus travel cards from thomas cook is a good deal -who do a good travel card -usable in ATM's at least you have some sort of insurance with tc's and cards if all goes down **** alley

    safe travels

    boaby

    #7 Posted: 5/5/2013 - 10:04

  • boaby

    Joined Travelfish
    26th January, 2011
    Posts: 29

    Hi

    if taking tc's its best to have them in decent demominations £50 plus travel cards from thomas cook is a good deal -who do a good travel card -usable in ATM's at least you have some sort of insurance with tc's and cards if all goes down **** alley

    safe travels

    boaby

    #8 Posted: 5/5/2013 - 10:05

  • Geer1

    Joined Travelfish
    14th September, 2012
    Posts: 540
    Places visited:
    At least 42

    At atms you can use either credit cards or debit cards. Most people have at least a couple of these so use one of them and have the other hidden away as a backup. Always good to have a little bit of cash say $100 stashed away somewhere as well in case you need a little bit where no atm is present. Most places that there aren't atms you can at least find a currency exchange or bank that will take cash off your credit card for a fee.

    That is what I did and didn't have any issues on my trip, in total I had 2 credit cards and 2 debit cards with me and only ever needed the 1 credit card and at odd times the debit card when for whatever reason my credit card wouldn't work.

    #9 Posted: 5/5/2013 - 11:57

  • natamuka

    Joined Travelfish
    23rd September, 2013
    Posts: 1

    Firstly try to avoid any plan that includes commissions for recruiting additional distributors. It may be an illegal pyramid. Don’t pay or sign any contracts in an “opportunity meeting” or any other pressure-filled situation. Insist on taking your time to think over your decision.http://multi-level-marketing.mix-marketing.net

    #10 Posted: 23/9/2013 - 14:23

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  • Blackartemis

    Joined Travelfish
    16th July, 2011
    Posts: 36

    150B fee at any Thai ATM other than AEON which you will find in large shopping centers, not on the street.
    about 3% surcharge for foreign ATM's

    Krung Thai bank, a bank you will find anywhere allows foreign tourists to apply for an ATM card.
    You could bring your money in as travelers checks, and then have this bank put them on to an ATM card for you.
    You also get discounts at certain places and travel insurance.

    http://www.ktb.co.th/ktb/en/product-detail.aspx?product=7G8hLoc1P1luhd7pVQb7Eg==

    #11 Posted: 26/9/2013 - 00:22

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