Flag of Thailand

Thailand forum

Best bang for our buck

  • dlewingt

    Joined Travelfish
    24th October, 2007
    Posts: 4

    We are from Canada and are planning a trip to Thailand in Feb/08. My wife read that it is best to take US traveler cheques. I'm wandering if it wouldn't be better to just take Canadian traveler cheques and then exchange them at a Bank for Bahts. Do you forsee any problem? I know American is more widely accepted internationally but the way the US dollar is falling I think I might get a better rate on CAD.

    #1 Posted: 25/10/2007 - 07:26

  • Advertisement

  • korndamned

    Joined Travelfish
    23rd October, 2007
    Posts: 6

    You probably won't have any problems trying to exchange. But you may not get good rates. USD may be falling, but is it falling relative to Baht? And how about CAD rate against Baht?

    I personally suggest USD for convenience sake, especially when you're in smaller towns.

    Have fun.

    #2 Posted: 25/10/2007 - 07:54

  • goo_stewart

    Joined Travelfish
    10th October, 2007
    Posts: 69

    In Thailand all the banks seem to exchange at the national rates, smaller towns will take US and CAD just as well. Take whatever is easiest - only smaller world currencies are not wanted/less advantageous.

    #3 Posted: 25/10/2007 - 11:00

  • ChangFai

    Click here to learn more about ChangFai
    Joined Travelfish
    10th April, 2007
    Location Thailand
    Posts: 139

    I cant see a problem in taking Canadian T.C.'s , depending on what company issues them.

    I use Sterling £ Travellers Cheques regularly but they are issued by American Express , so are accepted everywhere .

    And yes the $ is falling against the baht , and continues to . Just ask US Expats in Thailand.

    #4 Posted: 25/10/2007 - 15:23

  • MysticRiver

    Joined Travelfish
    26th October, 2007
    Posts: 2

    I see no reason to bring Traveler's Checks. Why not just use your ATM? Most ATMs support Cirrus (among others) and they work almost anywhere in the world (excepting Taiwan, where few machines take foreign ATM cards).

    Traveler's checks charge a fee to buy, and often a fee and sometimes unfavorable rates to redeem them. Realistically, you are unlikely to get robbed. They are making money on your fear.

    ATMs will involve some kind of fee - typically a fixed charge plus perhaps a % of the amount - but I get as good a rate as I think is available, and they are convenient. If you take out larger amounts, you pay the fixed fee fewer times. And if you are a preferred customer at your bank, they may waive the fixed fee.

    One hint: you might want to notify your bank that you will be using your ATM in whatever countries and dates you travel. They may see a withdrawal in Thailand as irregular activity, suspect theft of your card, and shut off your access, if you don't tell them.

    #5 Posted: 26/10/2007 - 09:57

  • ChangFai

    Click here to learn more about ChangFai
    Joined Travelfish
    10th April, 2007
    Location Thailand
    Posts: 139

    Mystic River
    Maybe I am stuck in the past , but I dont get this negatives that are always pointed at Travellers Cheques.

    I actually take a mix of TC's , atm card (a Nationwide Card that has no charge to use in Thailand), and cash.

    But I buy Travellers Cheques in the UK from Lloyds/TSB at 0% commission , and cashing them in Thailand gives me a much better rate than cash or atm's , and yes there is the safety aspects of TC's.

    After seeing friends who cant get a bank to accept their atm card , lose their card/cash , Travellers Cheques will always be the main way of funding my travels.

    IMHO
    ChangFai

    #6 Posted: 26/10/2007 - 16:24

  • MysticRiver

    Joined Travelfish
    26th October, 2007
    Posts: 2

    ChangFai,

    Thanks very much for your comments. I have not used TC's in years - since ATMs started working everywhere - and I remember having to pay fees on both ends. My negativity is a reaction to feeling ripped off. But it sounds like you get a favorable deal.

    Clearly one should find out the costs of each, and a strategy of some of each is a sound idea.

    I have travelled many times to several countries (a lot of it while working) and never had a problem with theft. I suppose the risk of theft is higher outside of major cities, but I do go there too sometimes.

    Only in Taiwan was it hard to find an ATM that would take my card (but I did). I think using ATMs is relatively easy in the countries covered on this site.

    #7 Posted: 27/10/2007 - 14:19

  • EmjayReet

    Joined Travelfish
    4th July, 2006
    Location Australia
    Posts: 156
    Total reviews: 3

    I highly recommend travellers cheques. It depends on what your bank offers on ATM fees, but here in Australia I was able to get travellers cheques for free (in Oz dollars) and it was costing me 33 baht to cash (approx $1.20) each one... When I used the ATM it was costing me $5 + 2.5% of the amount I was withdrawing (say a minimum of $7.50 per $100 withdrawn)

    Backpacking around that saved me alot of money over 6 weeks .... HOWEVER just get them in your own currency... there is no difference.. you will just probably lose money by exchanging currency twice when its not necessary!

    Reet xx

    #8 Posted: 2/11/2007 - 06:34

  • EmjayReet

    Joined Travelfish
    4th July, 2006
    Location Australia
    Posts: 156
    Total reviews: 3

    PS I ALWAYS got a better rate for travellers cheques than I did using the ATM's and exchange booths are EVERYWHERE so you will have no problem cashing them (do it at the exchange booths and not the hotels - better rates that way too!)

    #9 Posted: 2/11/2007 - 06:37

Have questions? Jump to our menu of forum quicklinks

Add your reply

Your reply

Check this box if you want to be notified of replies.

Please be familiar with our user guidelines before you post. Thanks!

Businesses planning on plugging their guesthouse / hotel / karaoke bar should read our "Addition guidelines" very carefully.

You need to be logged in to answer an existing post on the Travelfish forums. Please login via the prompts just above and refresh this screen -- before writing your post -- and you'll be in business.