Cash or ATM

[Welshpat]

Hi

Just wondering do you get a better exchange rate changing cash at a money exchange or by getting cash with a card at an ATM

 

Thanks

 

 

Welshpat

[Kandinski]

Its been discussed a few times over the years and a few threads on the subject can be found entering "exchange rate" in search.

heres one

 

[Biennial]

If you are using a typical western ATM card, you will get a much worse deal, mostly because of the ATM fees. Take as much cash as you feel comfortable with and change it at the best exchange rate places. Bring new, large denomination bills. I always seem to spend more than I expect, so have to resort to the ATMs.

[mike1878]

Many threads on here about this..  If you are from the US.. Best option is a Charles Schwab ATM.. they will reimburse all fees and do not need a minimum balance to get that perk.  Other options is to use a local smaller bank.  For me I use Bank of West.. they also will reimburse all fees as long as I have 25K with them.  Usually smaller local banks have something similar.  Unlike larger banks like Citi or Chase you will need 250K plus to get same perk. 

[Luv2Phuket]

3 hours ago, mike1878 said:

Many threads on here about this..  If you are from the US.. Best option is a Charles Schwab ATM.. they will reimburse all fees and do not need a minimum balance to get that perk.  

This!

Having done the math while in Pattaya, it appeared the exchange rate I was getting via my Schwab's ATM withdrawals was very comparable to the exchange rate for cash at the same day/time.

[Safado12]

Both.  The difference in  exchange rates is negligible, and manageable, IMO

From the US, Schwab ATM works well.  An added benefit: my Schwab card got hacked once.   Schwab was very good about covering the loss without too much fuss.  But, the card was frozen, out of necessity.

Which is why it's wise to carry cash, too.   As a backup if something goes wrong with the card.  I have a friend from Scotland who had trouble with his card.   He had to borrow cash from me for a couple of weeks....Yes, he paid me back, and thanked me profusely.

[iLoveit]

Cash

[Taa_Saparot]

Cash

[overseas516]

Cash.

[fishy62]

Cash... Make sure bills are not worn torn or spoiled in anyway.. Otherwise they may not be accepted... Cash is King...  Exchange places like Vasu, Super rich Sia Money etc will always give a better rate than booths in the tourist spots... Unless you are exchanging largish sums of money it is not worth the hassle of searching these places out just use the convivence of the small exchange rate places on every second corner and look for the best rate...

[Ru4Real]

ATM     

[jocky king]

Go for Thai bank ATM card ....

Avoids Western ATM card . 

I like to bring big cash and change at TT Exchange and then lodge that monies  to my SCB bank account  ... SCB bank is shit at exchange at desk and online transfer . 

[LongJohnSilver]

Agree - cash. Most banks at ATMs will charge you between 2-3% commission plus fees. Large, newer (non-damaged is stained) bills will yield a better rate unless you have an exotic currency not from a nearby country, such as Rand/Mexican Pesos etc. 

 

As as an example, SuperRichTH’s commission on a $100 note is 0.7%.

[legionofdoom]

If you are from the U.S., look into Charles Schwab checking account. Any atm fees that hit your account are refunded once a month. It’s a good alternative if you don’t feel comfortable having all your cash on you or in the room safe.

[jfreman]

Cash is the simplest and usually the best exchange with no fees. I used to use a card but now I just bring cash and have a couple cards as backup.

Edited October 7, 2019 by jfreman

[stlar]

First Republic Bank has a similar account as Schwab..but they require minimum balance of 3500, otherwise there is a monthly service charge,,,a Calif. bank ,,,, limited states have branches.i have this card as backup..

Sent from my SM-A705MN using Tapatalk

[iLoveit]

Cash

[Ru4Real]

ATM 

[sulu]

On 07/10/2019 at 04:39, jfreman said:

Cash is the simplest and usually the best exchange with no fees. I used to use a card but now I just bring cash and have a couple cards as backup.

Cash can be stolen. And the booths give lower rates for exchanging $20 bills vs. $100 bills.

Further, the Mastercard/Visa rate from a credit or debit card is typically the best rate you can find and better than ANY booth (or bank for that matter).

Schwab, as stated many times, credits back all ATM fee and there is NO 3% "foreign transaction fee" either (as there is with some/many/most credit (and debit ?) cards.

If you're from the US, the Schwab card is the best deal out there.

[Luv2Phuket]

2 hours ago, sulu said:

Schwab, as stated many times, credits back all ATM fee and there is NO 3% "foreign transaction fee" either (as there is with some/many/most credit (and debit ?) cards.

If you're from the US, the Schwab card is the best deal out there.
 

Agreed.  Some other cards may be able to MATCH it, but I can't see anyone/anything BEATING it.

[BigRexy]

Cash is king

[logboy]

No Thai bank ATM card is king