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Finance and money forum

Travellers Cheques in CAD

Posted by mckayb on 30/5/2010 at 04:39

I am heading to Thailand, Laos, and Cambodia from June 10 to August 31...So I have just bought a good amount worth of travellers cheques in Canadian dollars. I was going to get them in USD, but I realized I would have to pay twice for the currency conversion (CAD>USD>THB). I figured I could just get them in CAD and avoid being dinged twice. My only concern is that the Canadian dollar will not be recognized in some places especially in rural areas. Have any other Canadians brought travellers cheques in CAD?

To those wondering why I am not just using my chequings account and withdrawing from ATM'S: I wanted to avoid paying almost $8 per withdrawal which is what it would be compared to just 33THB per traveller cheque. I just need to make sure I have enough $$$ to survive the weekends when the banks are closed.

Any other tips/advice is appreciated!

#1 mckayb has been a member since 4/2/2010. Location: Canada. Posts: 23
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Posted by idreamofdurian on 31/5/2010 at 00:12 TF writer

$8 for int'l withdrawals... ouch. Is that TD?

It's only $3 per withdrawal for President's Choice Financial. ;)

You shouldn't have any problems cashing the traveler's cheques at banks... In Thailand even the small towns have a bank or 2... Laos not so much. You're right about USD being better recognized though and it usually gets a better exchange rate (even for traveler's cheques).

It's wise to travel with some US cash anyway for a back-up (bank closed, ATM out of $$) and/or paying for visas. Ex. For Laos we're the most expensive nationality for visas at $42 USD cash for Canadians, but the fee in kip or baht is significantly more.

#2 idreamofdurian has been a member since 5/9/2008. Location: Singapore. Posts: 576
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Posted by mckayb on 31/5/2010 at 01:37

Hey thanks for the reply...

Actually I am with PC Financial. Your right it is $3 per withdrawal, but when you add the 150baht fee it then becomes $8 total. To me it seems like a no-brainer to go with TC's. Is the difference in the exchange rate between CAD and USD TC's substantial? Even if it is I am still avoiding changing currency twice plus I am sure it doesn't amount to the $8 total per withdrawal using ATM's.

I hear ya about having some US cash. If I run into the problem of the Canadian dollar not being recognized somewhere, I will have my US cash to use. I was planning on doing that anyways. I didn't realize that if you paid in a currency other than USD for the Laos visa it is significantly higher. Good to know, thanks.

#3 mckayb has been a member since 4/2/2010. Location: Canada. Posts: 23
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Posted by idreamofdurian on 31/5/2010 at 12:10 TF writer

Ditto for Cambodia -- visa is $20 USD, but if you want to pay in baht they'll give you a crap exchange rate and it'll be closer to $25 USD. Plus entrance fee to Angkor Wat is in USD...

#4 idreamofdurian has been a member since 5/9/2008. Location: Singapore. Posts: 576
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Posted by maryray on 21/8/2010 at 03:37

sorry don't want to sound dumb but just so that I understand this thread.

I bank at both TD AND PC....what's best to do? withdraw from the ATM or bring US travellers cheques. If withdrawing from ATM - do I use my PC or my TD account.

This will be my first time in Bangkok and Phuket.

#5 maryray has been a member since 19/8/2010. Posts: 9


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