wonderlust Posted September 19, 2007 Report Share Posted September 19, 2007 I notice that you can get a better exchange rate with "sight bills" in Thai Banks. Are travellers' cheques sight bills? I'm not sure about the terminology. I've never used them before but as I can get them commission-free I'm thinking of buying a few before I come to Thailand. Link to comment Share on other sites More sharing options...
oldie5 Posted September 19, 2007 Report Share Posted September 19, 2007 I've not used them for a few years but yes you do get a better rate for travellers cheques. There is a transaction fee (maybe 30 baht or so nowadays + fee per cheque) so it is better to cash a decent amount at a time. I still have a few with me each trip but always now use Nationwide debit card at ATMs with no fee and get the bank rate. Link to comment Share on other sites More sharing options...
pe7e Posted September 19, 2007 Report Share Posted September 19, 2007 Sight bills are a financial instrument normally used in international trade along with a documented letter of credit, they are usually for substantial sums of money and are not designed, or suitable for holiday funds transfer. A couple of ATM cards with a few travelers cheques as emergency back-up is the favoured solution for most travelles. Unless you're transfering huge sums i.e. retirement or housing funds the few extra baht commission you pay hardly seem worth bothering about. Link to comment Share on other sites More sharing options...
wonderlust Posted September 19, 2007 Author Report Share Posted September 19, 2007 Thanks for the replies. I use my Nationwide debit card too but it's sensible to spread risk by carrying an alternative too. Presumably the better rate you get with TCs compared to cash offsets any fee you have to pay. It's also a lot safer than cash of course. Link to comment Share on other sites More sharing options...
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