best exchange rate- AMEX travelers cheques v ATM

[patrickjc 0]

Hi guys,

 

Coming back to Pattaya soon after a few years. Sadly only a few weeks, but contemplating the best ways of exchanging money. I hate the 250b ATM fee we get screwed over with every time we use one with a foreign card. Was wondering if anyone currently in Pattaya can shed light on current exchange rates/fees for AMEX travelers cheques to GBP at the moment. I haven't used them in Thailand since 2007 (when we got 70+Baht to the £! I miss those days!!).

 

Thanks for the advice chaps!

[jacko 8,762]

Wow, that question got in early this year!

 

Travellers cheques exchange rates are displayed in the banks and on their websites.

Here for example it is listed under T/ Chqs, and as you can see it is only slightly better than cash, BUT, beware, TChqs are less common these days, and many booths don't accept them. Also there are substantial charges made on those as well, they get their money somehow!!

Fees are 153 baht per cheque (up from the previous 33 baht), So higher denominations are best. In Pattaya the exchange booths labelled TT, black on yellow, are common and they offer better cash rates than the banks. The risk is carrying cash, but many do these days.Good rates are offered by Superrich, but they are not available in Pattaya. They have a booth in the main airport.

 

Here is a nice comparison resource.

Edited January 1, 2018 by jacko

[Chang_paarp 253]

Travellers Cheques are becoming very hard to cash. Many places will not accept them and those that do will randomly refuse some. They are rapidly becoming a thing of a bygone era.

 

Using an ATM for your supply of cash also has some issues as the exchange rates are the ones set by banks which are not usually the best and there are fees to deal with, the Thai bank will slug you 150B and your local bank could also add a charge.

 

Cash is king!! Bring clean/new large denomination notes.

[jacko 8,762]

Travellers Cheques are becoming very hard to cash. Many places will not accept them and those that do will randomly refuse some. They are rapidly becoming a thing of a bygone era.

 

Using an ATM for your supply of cash also has some issues as the exchange rates are the ones set by banks which are not usually the best and there are fees to deal with, the Thai bank will slug you 150B and your local bank could also add a charge.

 

Cash is king!! Bring clean/new large denomination notes.

It is 220 baht at most banks now, I believe AEON is the only one left taking less.

Edited January 3, 2018 by jacko
typo

[nkped 1,208]

With a couple of US banks, my experience has been that the exchange rate at ATMs is quite good. The problem is the 220 baht fee and whatever your bank adds in. Also, if the ATM screen says anything about conversion, press no.

[tallguy 1,450]

I haven't used travellers cheques for years but I recall the banks increased the charge for cashing them to 150 baht per cheque. I don't know what the charge is now but TCs are no longer as economical to use in comparison to ATMs. If you are going to use them get large denominations.

[patrickjc 0]

Thanks lot for your advice guys. Much appreciated. Looks like the ATM's are the way to go. Had a feeling traveller cheques might be limited option.

 

Cheers for you help! :)

[marleyboy 140]

I always used to take travlellers cheques....

 

 

But not for a God few years now!

 

As has been have to pay a fair bit to change every cheque, plus not so many places take them now.

 

I take cash, plus use my debit card as back up.

[marleyboy 140]

I always used to take travlellers cheques....

But not for a God few years now!

As has been said.,,,,you have to pay a fair bit to change every cheque, plus not so many places take them now.

I take cash, plus use my debit card as back up.

[js007 795]

I think it's good to maybe have one or two large denomination travelers checks, just for back-up. It's also smart to have several ATM cards and several credit cards and a way to move your money from one account to another. You don't want to be stuck without access to cash.