Travelers Cheques

My bank charge USD$1 per Travelers Cheque ($100 denomination).
with this $1 fee, I wonder if travelers check is still better than using USD bills at currency exchange in BKK?

Depends how much you`re changing i guess.

I think you still get a higher exchange rate for travellers cheques?

[piston10]

When I left Thailand fairly recently there was no doubt that most Thai banks were giving the best available rates for travellers cheques - considerably higher than for cash.

$1 on $100 does seem to be quite a commission, however. Have you investigated what the commission is on higher denomination cheques? My UK bank always tells me initially that ┬г100 denomination cheques are the highest available. They aren't. You have to argue, get them to make phone calls, etc., and eventually they will issue ┬г500 cheques. I don't know whether this makes any difference to the commission rate (they must have some reason for hiding the truth, being a bank!), but it makes the whole operation of exchanging them in Thailand shorter - AND Thai banks charge 30 baht for each cheque exchanged, whatever its denomination. A bit of a saving, though not much!

My bank in U.S. charge 1% of the face value. So one $500 check wil cost me $5.
So I don't know if it is worthwhile to get travelers checks. Perhaps I should just forget about it and use cash.

[Up2U]

My bank in U.S. charge 1% of the face value. So one $500 check wil cost me $5.
So I don't know if it is worthwhile to get travelers checks. Perhaps I should just forget about it and use cash.

So you wouldn't spend 5 bucks to insure 500? Better yet use your ATM. Travelers Checks are definitely "old school"

I was wondering what the poor people were doing today and now I've found out

[blazer]

Actually, carrying some travelers checks is a good idea. ATM cards and cash can be lost or stolen as well as travelers checks. But travelers checks are easily replaced by calling the issuer. American Express has an office in Thailand. And they will deliver to you.

Cash canтАЩt be replaced and an ATM card could take weeks or more to be replaced if issued outside of Thailand if at all.

I would not travel to any foreign country without some travelers checks, just in case. I carry cash, at least 2 ATM cards as well as the travelers checks. It is always good to have backup sources of funds. That way you are protected in any event.

Some banks issue them free of charge. Also AAA Visa issues them free at any AAA office.

1 dollar on a 100 dollar bill, that's 1% - is this when you buy the TCs or when you are cashing them in. I assume it is when you are buying them. A lot of places charge 1-2% commission for buying travellers cheques, wherever you are. There are places I'm sure that are commission free or low rates, as we have in the UK with Nationwide. I've switched to using that NW card is easier and a cheap way of getting money.