Cheap Amex Travelers Checks

[soi6 0]

Hi Guys,

 

Thought I'd share how to get cheap travelers cheques,

which get the best exchange rate in the LOS..

 

Join AAA, it will cost you $45 a year to be a member..

And being a member you do not pay the 1% charge to

get travelers checks...  I spend about 8-10k a year

on travelers checks and being a member saves me

the $80-100..  (of course though there is the $45 yearly

membership fee..)  If you are a member of GNC health

store there is a $10 discount on the $45 AAA membership also..

 

One other thing is when you get travelers checks

get the $500 denomination..  There is a 50 baht or so

charge for each check cashed..  If you were to get

$100 travelers checks you're taking roughly a 1% hit

with each cashing of the checks..  You usually have to

call ahead and let them know that you will be wanting

the $500 travelers checks though..

 

Hope this helps save your much needed beer and

hooker money...

;D

[Bob4you 0]

I'll never take travellers checks again. Went into Bangkok Bank to change $1000 in TC, signed them ($100) denominations in front of teller. Well my signature didn't match good enough. It took 1/2 hour with managers, phone calls to Main office. I had 10 credit cards with variations of my signature, my drivers license an passport but to no avail. Thank God for ATM's.

[irishman 0]

Hi Soi,

 

I agree with Bob, I never use TC's anymore except as a few for backup. They are so 80's!  

ATM's are the way to go.  Good rates, a bit of a charge for the convenience but takes less than a minute and absolutely no hassles!  ATMs all over Pattaya.  Look for the few that will spit out 20,000 baht at a crack to minimize transaction costs.

[SF_dude 0]

Look for the few that will spit out 20,000 baht at a crack to minimize transaction costs.

 

Is there any way to identify those, short of trying each and every one?

 

SF dude

[Emil 0]

Guys,

 

Check with your financial institution.  I've never been charged for getting TC's.  Never cashed them in Pattaya, only take them in case the ATM card fails to work.  When I return I deposit them back into my checking account, so in fact my only cost would be the lost interest earned during this time.  Same with ATM use,  never had a transaction charge so I only withdraw 5000 at a time so no worry about carrying large sums of money around.  Plenty of financial institutions looking for your business, so find the one that don't nickel and dime you.

 

Emil

[TimidGuy 0]

I have an ATM question...

 

I use my VISA card as an ATM as in my country the VISA is directly linked into my checking account (unlike the US).

 

So should my VISA be ok?

[LeoTex 29]

TimidGuy,

 

I have a 'Visa' card from my bank that is a debit card as well as a ATM card. It goes directly to by checking account.  I have used it to pay for my hotel room, they handle it just like a credit card. I also use it, to get cash at the ATM machine, or a cash advance at the Bank, if I have any trouble with the ATMs. I don't get charged a cash advance charged, because it come out of my checking account.

 

One thing I do, is contact the bank before I leave to let them know that I will be in Thailand and also give them the dates. I do this with a back up credit card also.

 

I try to use the ATM machine at Tops, and also that money exchange booth. Its only one block from the hotels on Soi 7 and you are not out in the open when getting money.

 

LeoTex

[Emil 0]

TimidGuy,

 

To be on the safe side, call the company that issued the card.  Also I live in California and my ATM card which is tied into my checking account has the Visa logo on it.

 

Emil

[RayW 1]

LeoTex, yes I also have one of those Debit cards, in fact a Connect Vis card which debits my current account.  I used that in LOS as well as Spain too no commission charged but just check the theiving exchange rate they apply, it is criminal.  Check with an exchange rate site that keeps historic rates and compare on the day they converted your Baht to local currency and be prepared for a shock.  

 

Banks get away with bloody murder IMHO (I know a bit about this as many years ago I used to work for one and it is even worse today).  At least I see the Brit Government are starting to clamp down on them and have given them a limited time to get their act in order or there will be legislation to rightly curtail them from further legal robbery from the poor innocent members of the public     I am all for businesses making a good healthy honest and well earned buck but I loathe the fat cap rip off merchants that seem to poison our world these days.

[SabaiCedd 0]

As far as ther UK goes its a bit of a minefield with banks charging for using your debit card abroad. Some will charge up to 2% plus give a bad rate of exchange too, so you need to check this out before using your card in Thailand. As has been reported on these pages previously, Nationwide do not charge you for using your card abroad, but you still have to watch the exchange rate they convert at.

 

For those that do still want/have to use travellers chks

Its worth a look here  - you can order T/C's and currency online at this link:

 

www.uk.mytravel.com/cgi-bin/mytravel/Homepages/pages/home.jsp

 

They only charge £5 delivery and no commision, which is cheaper than most banks. Although the exchange rate for currency is not great so your best only getting enough for your immediate needs and get the rest when you land.

 

As always with these things, search around first and see what deal you can find as there may well be better out there  :)

[ajweiss1 0]

Dear Soi6:

 

I have been doing the same thing each year before I went to Thailand. I would get my American Express Travelers checks at the Auto Club.

 

I just read in their newest edition of their magazine that they have switched as of January 2003 to VISA travelers checks and no longer handle American Express Traveler Checks.

 

American Express are the only type I would take along since I have never had a problem cashing them anywhere in the world.

 

Oh well, it looks like I will have to go back to paying that damnable fee that the banks charge instead of spending it for pleasure.

 

ajweiss1

[valentinoxxx 4]

http://www.simplyfx.com/ are the best for that sort of thing, if you must.

 

MyTravel's rates are simply awful. http://www.uk.mytravel.com/cgi-bin/mytrave...edcgfkcffidif.0

[cbrib 354]

  Never had any of the problems you guys seem to have had with T/C. Just came back and the rate averaged about 42.90 for a $100 cheque. Also used my visa credit card ( acceptable along with M/C at most exchange booths) because i overspent.......again. LOL I was getting $45.00 even. If you have a visa card with your favorite airline for mileage points use that and pay it off with the money you would use to buy your T/C. Just a suggestion and my own 2 baht on the dollars worth. Cheers. B-Man!

[mrt 0]

Guys,

 

Just a little FYI.  if you are worried about losing your ATM card and people getting a hold of your information you can just ask your bank (I use Bank of America)  for a temporary debit card.  

It's a card with no info on it I.e. your name or account number. And it will only work for 30 days.

It's free works in all ATM's with thin the respective network.  I like using it because that enables me to keep my main cards in a safety deposit box.  

 

As far as accessing ATMS I always use the ones in Royal Garden Mall and have yet to have a problem with taking out 20k baht.

 

Now if you are worried about ATM charges you can save even more money buy setting up a free www.paypal.com account.  And then get them to send you a debit card.  You can deposit money in your paypal account for free.  And I was never charged more than $1 a withdrawal.