mongatu Posted March 9, 2007 Report Share Posted March 9, 2007 I used to just use a debit card at ATM's to get baht in Thailand, but now with the onshore and offshore rates, it seems as though it would be better to bring either cash or traveler's checks. I was looking at the BKK Bank website and I wasn't quite sure if the rate paid for "TT" was for traveler's checks. Anyone know about that? Also, is there a higher fee charged for cashing traveler's checks? Basically, I am trying to figure out whether traveler's checks or cash will get me the most baht for my shrinking dollar. Link to comment Share on other sites More sharing options...
Evel_Penivel Posted March 9, 2007 Report Share Posted March 9, 2007 Basically, I am trying to figure out whether traveler's checks or cash will get me the most baht for my shrinking dollar. Travelers checks will get a better rate than cash, but there is a 33B fee for cashing each check. Cheapest would be to get $500 TCs. You'd save 132B by cashing one $500 check as opposed to five $100 checks. You save 528B if you cash a total of $2,000 over the course of your trip. However, the main advantage of TCs is security. If stolen or lost, they're replaced quickly. You just kiss cash good-bye. Evel Link to comment Share on other sites More sharing options...
mongatu Posted March 9, 2007 Author Report Share Posted March 9, 2007 Thanks for that info. I think I might be able to get $1,000 denominated traveler checks which would even save more of those 33 baht fees. Still need to weigh the benefits of the better exchange rate against the 5.2% APY interest I would lose by holding funds in cash or traveler's checks instead of leaving them in my US based account. Is the 33 baht fee per check the only fee they charge or are there any other fees in addition to that when exchanging US dollar denominated traveler's checks? Link to comment Share on other sites More sharing options...
Dumsoda Posted March 9, 2007 Report Share Posted March 9, 2007 Holy shit, I'd love to be a "Fly on the Wall" when you're in your first ST fee negotiation....lol... Don't pull it out too quick....it might lose interest....555555 Link to comment Share on other sites More sharing options...
bust Posted March 9, 2007 Report Share Posted March 9, 2007 Don't pull it out too quick....it might lose interest....555555 I have that problem from time to time DC though I find some well aimed oral attention soon gets it's attention back pretty quickly. :grin: Link to comment Share on other sites More sharing options...
Dumsoda Posted March 9, 2007 Report Share Posted March 9, 2007 Right on mate, Sometimes even your avatar helps....LOL.... Help me....how do you make 6 days disappear??? It's gunna be a long week....lol Link to comment Share on other sites More sharing options...
Evel_Penivel Posted March 10, 2007 Report Share Posted March 10, 2007 Still need to weigh the benefits of the better exchange rate against the 5.2% APY interest I would lose by holding funds in cash or traveler's checks instead of leaving them in my US based account. You'd be losing roughly 15 U.S. cents per day in interest on each $1,000 you withdraw from your 5.2% account, but the commission/transaction fee on ATM withdrawals is much higher than that. There aren't any $1,000 traveler's checks, at least not from Amex. Guess you'll just be stuck with an extra 33B fee. I have a feeling no will accuse you of overpaying the ladies. Evel Link to comment Share on other sites More sharing options...
cavanami Posted March 10, 2007 Report Share Posted March 10, 2007 Cash is good, but risky. You can xchg the cash at certain areas in Bangkok (places other then the banks) and get a better xchg rate. I always ask for $500 T/C but the bank I go to only has $100...will have to press them for the $500 next time! Good to know!!! Link to comment Share on other sites More sharing options...
mongatu Posted March 10, 2007 Author Report Share Posted March 10, 2007 I just checked with AAA (auto club) which offers no fee Visa traveler's checks to members. I definitely remember them saying they came in $500 denominations and I think I remember them saying they came in $1,000 as well. And, yes it's true I generally don't overpay the ladies, although I must confess, my last barfine from "The Sea" on my last trip set me back the BF plus 2k for very long time with the girl and she was worth every satang. Link to comment Share on other sites More sharing options...
OCgringo Posted March 10, 2007 Report Share Posted March 10, 2007 there is also a difference in exchange rates between TCs and cash OC Link to comment Share on other sites More sharing options...
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