Guest Posted September 24, 2001 Report Share Posted September 24, 2001 hi guys, Just wondering, which method would result in the best daily exchange rates overall? First, I have the ability to get the best exchange rate from my bank citibank, but it seems to be a pain to get to from suk. I get lost easy So, I'm wondering the two methods discussed. 1. Using the various ATM's all around LOS VS. 2. Getting traveler's checks and exchanging them at exchange booths From your experiences, which method gives you the best rates. ATMs obviously have a surcharge along with it's associated exchange rate for the day. I guess the exchange booths also have their surcharge as well. Thanks again guys. [ September 24, 2001: Message edited by: tyler_durden ] Link to comment Share on other sites More sharing options...
Scruffy Posted September 25, 2001 Report Share Posted September 25, 2001 Best rate in my experience is using debit cards in ATMs. My cards are from US Credit Unions, which waive any transaction charge on debit cards. If you use Bank issued Visa/MC debit cards they may pass the forex transaction fee on to you. Link to comment Share on other sites More sharing options...
Lusty Posted November 8, 2001 Report Share Posted November 8, 2001 Is there any problems drawing cash on your visa card at the airport exchange booths? Link to comment Share on other sites More sharing options...
Old Hippie Posted November 8, 2001 Report Share Posted November 8, 2001 Not sure if you can do it at the booths. Some Credit cards will allow you to withdraw cash from an ATM, the problem is, they usually charge you a steep price for doing so, on top of all the other fees. Link to comment Share on other sites More sharing options...
Guest Posted November 8, 2001 Report Share Posted November 8, 2001 quote: Originally posted by Mekong: As Old Hippie states, the booths charge a high price for exchanges from CC... Are you guys sure about this? I know the the bank that issued the card may have cash advance fees, but I'm not so sure about the ATM / exchange booth. My experience with exchange booths is that they, just like banks, charge NOTHING for credit card cash advances. I say I want 20K, they give me 20K, and on my CC statement it shows up as 20K x exchangerate + cash advance fees ($1 in my case). Hands down the best way to exchange money if your banks fees are low. Link to comment Share on other sites More sharing options...
ALHOLK Posted November 8, 2001 Report Share Posted November 8, 2001 Hi! worldwalker This is exactly how my Visa card issued by a Swedish bank works although the cash advance fee is much higher. I have never paid any fee to the money changer and doubt if this would differ between European countries. regards ALHOLK P.S. I have got cash advances on several occasions at the airport without any problem. [ November 08, 2001: Message edited by: ALHOLK ] Link to comment Share on other sites More sharing options...
Guest Posted November 9, 2001 Report Share Posted November 9, 2001 All- Based on my personal experiences in BKK here's the best (and cheapest) ways in decending order (from cheapest to most expensice) order -- ATM withdraw from your overseas account -- US$/GBP/similar - larger bills -- foreign Travellers Checks -- US$/GPP/similar - smaller bills -- Visa/MC cash advances at exchange kiosks -- Credit Card Cash advances at Bank or ATM -- Western Union --UPSer PS: Like many places the rate for "cash" is always a very small pich higher for the larger bills as compared to smaller bills of the same national currency. I'd avoid C/C advances and W.U services unless you're in dire need because by the time you add in all the "fees" and charges you basically got screwed for the convienence issue. Link to comment Share on other sites More sharing options...
Mekong Posted November 9, 2001 Report Share Posted November 9, 2001 quote: Originally posted by rusty: Is there any problems drawing cash on your visa card at the airport exchange booths? Rusty, Since you are from the UK I assume that you have either Visa or Access Credit Card. Both of these are accepted by the ATM's at the airport and also downtown. As Old Hippie states, the booths charge a high price for exchanges from CC, and don't forget that Credit Card rip-offs is one of the more common crimes in Thailand. Use the ATM Link to comment Share on other sites More sharing options...
Lusty Posted November 14, 2001 Report Share Posted November 14, 2001 I asume all the A.T.M,s have english language because I,ll be fucked if my card gets swallowed. Link to comment Share on other sites More sharing options...
Old Hippie Posted November 14, 2001 Report Share Posted November 14, 2001 World walker, As I stated in my original post, I was not sure the Airport exchange booth would take a cc, I've never used one. But the credit card I have does state it will charge a minimum of $20usd for cash advances in addition to other fees. Not sure how the exchange booth makes up for any service charge they may have to pay if any, but it could be by a lower exchange rate, or they may hold the transaction until the rate of exchange goes up a little. Who knows? Anyway, hope that clears up the info I previously gave. Rusty, Yes, the atms do offer you a choice of language, Thai or English, not sure how it works where you are from, but here in the states we call a checking account, in Thailand at some machines it is refered to as "Current" took me a while to figure that out. Link to comment Share on other sites More sharing options...
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