ATM or Bank

[Fergal]

Last couple of times I was in Patts I used my visa DEBIT card at the ATMs. No problem with doing that however, just wondering if it is actually better to bring the money in cash and change it at the banks.

 

Thanks in advance.

[Luv2Phuket]

I can only speak for U.S. banks, but, coming from here, you save quite a bit of money by bringing cash/traveler's checks.

Banks here charge a fee for using foreign ATMs (generally, 150 baht+) in addition to the fee charged by the Thai bank for using it's ATM. They also hit you with an unfavorable exchange rate. If you take out small amounts in a number of transactions, the fees will kill you.

Better to plan ahead and bring cash/traveler's checks in my opinion (but I am FAR from an expert!)

[TGluvver]

Last couple of times I was in Patts I used my visa DEBIT card at the ATMs. No problem with doing that however, just wondering if it is actually better to bring the money in cash and change it at the banks.

 

Thanks in advance.

 

If you are in Australia, the best way to travel is with a Wizard Clear Advantage Mastercard.

 

You can use this card to access cash advances in ATM's around the world without paying fees (no home bank fee, no conversion fees) - some ATMs will charge a card fee, but in Thailand use Bank of Ayudhya and there is no fee.

 

What I do is load up my card from my savings using BPay and then use my card wherever I want ... note: you are limited to the amount of cash advance you can have each billing cycle by your total credit limit, so if you have a limit of $4000 and put $5000 in your account, you can only get $400 worth of cash out per monthly cycle.

[Fergal]

Thanks for the responses. I don't have a limit on my cards because it isn't a credit card, it is a debit card so all the money in it is mine. I have used it before with no issues but just wondering if it is cheaper and better rate to actually take cash and change it at bank in Thailand. If it is similar I'll just use the card to withdraw as needed.

[papatex]

If you are comfortable with carrying cash (or some) I guess it's alright. If you lose it it's gone.

 

I would at least take some cash and maybe even some money in traveler cheques as an alternative.

(Make sure to follow the requirements for the promised 'money back guarantee' of the

Traveler's checks company and keep track of your unused checks).

 

If you lose the ATM and it's your only method of payment ..well.

[Mike Asia]

If you are comfortable with carrying cash (or some) I guess it's alright. If you lose it it's gone.

 

I would at least take some cash and maybe even some money in traveler cheques as an alternative.

(Make sure to follow the requirements for the promised 'money back guarantee' of the

Traveler's checks company and keep track of your unused checks).

 

If you lose the ATM and it's your only method of payment ..well.

 

I would agree.

 

By the way, why are you calling yourself 'Khun' in your signature? i have never heard or seen a person refer to themselves as Khun

[Fergal]

Ahhh, didn't think of the hassle of losing the atm. Food for though. cheers guys

[Mike Asia]

Ahhh, didn't think of the hassle of losing the atm. Food for though. cheers guys

 

unless you the type of person that would lose their ass if it was not part of them then you don't have much to worry about, just use your ATM card in the morning and put it back in your room. Shit does happen so have a backup plan but the chance of losing it is small if you don't carry it around drinking. Same for your passport, keep it in the room and before you leave home scan a copy and e-mail it to yourself so if something happens you can get another one easy

[Fergal]

Yeah that seems the best option for me, just take out the brass and leave the card in the safe. Will definitely take copy. Good advice, cheers

[TGluvver]

If you want to take cash, drop into the first Kasikorn Bank branch and set up an account, it will not take you long, but make sure you have the requisite ID - I think they require proof of your address (just a receipt from your hotel will do).

 

You will get an ATM card on the spot you can use all over the place and I think setup costs are less than a barfine. Good safe way to go as you then don't need to constantly worry about your wad of cash.

[murtle71]

Mate the visa transfer rate sux the bank fees sux and the max you can pull out is 20000baht

 

i bring cash,better rates at any of the million money exchanges in bangkok or pattaya. As far as worrying about having cash on hand thats just some thing i put up with. Lock stuff up and hide some in your suitcase.

 

if you want to you could always get large travellers cheques from the post office they dont charge a fee for getting them for you normally 1% but you will pay about 30baht to change each one in Thailand so make sure you get the largest you can. And remember Aussie currency for you because you dont want to get there poor rate of exchange in Australia. Travellers cheques get an extra 0.5baht over cash at all money exchanges..

 

Last but not lest only change a little at the airport because its the worst rate in Thailand just enough to get a taxi and a drink and remember when your leaving dont give your girl your money because you dont need it. You will be coming back save it for next trip then you wont have to waste money by getting it changed at the airport

[Fergal]

Murtle that is fantastic advice, never thought of it that way. I think my plan of attack will be to take about $2000 in travellers cheques, large ones from the Post Office. Have $1000 on the atm card and just draw say 5000 baht out at the airport to see me through the first night. Sounds like a plan to me. I'm only there for 2 weeks and mainly do beer bars so that will be plenty.

 

Good man, cheers

[ehsan]

I'd prefer not to use my credit card at

shops or restaurants or bars.I only use

it to withdraw cash from ATMs inside

shopping centers (Like big C).

[Luv2Phuket]

Murtle that is fantastic advice, never thought of it that way. I think my plan of attack will be to take about $2000 in travellers cheques, large ones from the Post Office. Have $1000 on the atm card and just draw say 5000 baht out at the airport to see me through the first night. Sounds like a plan to me. I'm only there for 2 weeks and mainly do beer bars so that will be plenty.

 

Good man, cheers

 

 

I don't know what your immediate plans upon landing are, but I would get less than 5000 baht at the airport -- as stated, they have horrible exchange rates. I would get about 2500-3000 baht at the airport, and even that may be higher than what you would need.

[Expat46]

Get best exchange rates if you already have a Bank account here in Thailand, and then transfer money from your country.

See this attachment from a local bank:

 

http://www.bangkokbank.com/_layouts/NR/BangkokBankWebApps/WebApp%20Currency%20Exchange2/user_fxupdate.asp

 

See the difference between bank note buying rate, and bying rates sight bill/TT.