Pat_from_Jersey Posted July 18, 2005 Report Share Posted July 18, 2005 I did a quick search on the site and could not find the answer to my 2 questions, so I am going to the well once again for enlightenment. #1 Where is the best place to trade my currency? At the Airport? in the street? My experience is Airports are generally costly and better deals can be had in banks. But, good luck to this newbie in finding a friggin bank anyway! So, which is it... #2 My research tells me that I will get a better exchange rate if I use traveller's cheques. Why is that? I always thought cash was the best option, but not so! Anyone have any ideas on the above? thanks. -Pat Link to comment Share on other sites More sharing options...
Old Hippie Posted July 18, 2005 Report Share Posted July 18, 2005 There are many banks all with in walking distance of Nana Hotel...also exchange booths...(bring passport to either location for cashing traveler's checks. Also, your ATM card should work in BKK as well...I like to bring 2 ATM cards, 2 credit cards (all from different banks) and some large bills or traveler's checks. The idea is, if something gets lost or stolen, then you have a back up to save thwe trip!! Link to comment Share on other sites More sharing options...
Pat_from_Jersey Posted July 18, 2005 Author Report Share Posted July 18, 2005 Do any of the establishment or services accept american dollars? (I doubt it, but had to ask). Link to comment Share on other sites More sharing options...
Old Hippie Posted July 18, 2005 Report Share Posted July 18, 2005 No. None I know of. Laos and Cambodia are another matter... Link to comment Share on other sites More sharing options...
Dude_Le_Rude Posted July 18, 2005 Report Share Posted July 18, 2005 Cambodia: all in US dollars. everything. Link to comment Share on other sites More sharing options...
short-time Posted July 18, 2005 Report Share Posted July 18, 2005 You are right - BKK is a little strange in that the exchange rates at the airport are among the best you will find anywhere in the city. As other mentioned, there is absolutely no problem finding banks or exchanges where you can trade any currency or travelers checks for Baht. It couldn?t be easier, so relax on this one. I use mostly AMX Travelers checks plus take along maybe $500 cash. Yes, it?s true you get a better exchange rate with Travelers checks than cash. Each check has a small fee though (something like 20B) so, don?t bring anything less than $100 domination TC?s. I also take along a major credit card or two plus an ATM card. However, I rarely use them because of the additional fees involved on both ends in most cases. One warning - don?t carry too much cash. Enjoy, ST Link to comment Share on other sites More sharing options...
Nervous_Dog Posted July 18, 2005 Report Share Posted July 18, 2005 ATM;s give you a great rate, but no ATM;s in Cambodia. There is now 2 ATM;s in Laos, near the morning market. There is no problem with rates, pretty uniform across the range of the booths that exchange. I think, but stand to be corrected, that you get a better rate with travellers cheques as you have to pay a commission along the way. DOG Link to comment Share on other sites More sharing options...
rickfarang Posted July 18, 2005 Report Share Posted July 18, 2005 "Do any of the establishment or services accept american dollars? (I doubt it, but had to ask). " Yes, some bar girls will accept American dollars. I used to fly between San Francisco and Tokyo with a stopover in Honlulu every six weeks. One time in Honolulu, I ran out of US dollars and bought drinks in a bar with Yen. I was a regular at that place and the owner knew me. Six weeks later, I went into the bar again, and she dug the Yen out of the cash register and offered them to me. The dollar had fallen against the Yen in the intervening weeks, so I was more than happy to take them back. Link to comment Share on other sites More sharing options...
Dude_Le_Rude Posted July 19, 2005 Report Share Posted July 19, 2005 since I sometimes bring yen and I sometimes bring US dollars to Thailand, I have noticed that some banks offer slightly better rates than others. In the Skytrain station, Prohm pong, next to the Empoium, of the 3 places there, they vary slightly. but, if you are changing a couple of hundred... well, on general principle, I have to seek out the best rate. more beer money! even lower Suk, between Soi 12 and Soi 0, some of the places vary slightly. best to just take a walk and look around. the travelers check commission is 23 baht per check, something like that, so yeah, either 100 dollar checks, or even one 500 check, saves you 100 baht in commission! hey, that is ONE beer. and there are nights when one more beer makes all the difference... Why travelers checks offer better rates? hmmm, I have heard that it is harder to make fake checks, and the companies guarantee payment, something like that. On the other hand, ripped or torn genuine bills get refused, and certainly fake bills cause loss along the way - one way to make up for that is by charging different rates. with the new US money new Japanese money, or Euro, harder to fake; but it will happen. I have heard the teller is responsible, so do not be surprised if s/he takes a real long time checking the bill, and checking it twice. even with a small eye piece. What was it, the 1996 US hundreds that were faked in massive amounts? most of those, if you still have a real one will get refused in Bangkok. Link to comment Share on other sites More sharing options...
short-time Posted July 19, 2005 Report Share Posted July 19, 2005 "either 100 dollar checks, or even one 500 check, saves you 100 baht in commission!" Very true, but I've never seen AMX $500 TC's and I have asked for them. Are these new or perhaps available with another brand like Visa - never used these before. ST Link to comment Share on other sites More sharing options...
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