ATM or Travellers Cheques

Is it best to take an ATM card or Travellers Cheques to Thailand? I looked up other post on here, and seem to get mixed comments. Which is best? Thanks.

[jinks]

ATM is safer especially if you have a nationwide or halifax card = no commission :bounce:

[Up2U]

TC's are analogous to Betamax in the Betamax vs VHS format war. Bring and use your ATM card. I take 2 or 3. Get one that charges no fees. Bring a small amount of cash for an emegency.

Is it best to take an ATM card or Travellers Cheques to Thailand? I looked up other post on here, and seem to get mixed comments. Which is best? Thanks.

ATM is in Thailand usually no problem unless in busy centres end of month (= pay day) after 18.00 hrs; machines are often empty.

Just in case it might be good to have some TC on hand as well. There are insured, less expensive to use and can be used at any bank or large shopping mall. American Express issues TC sometimes commission free. Cashing a TC in Thailand costs you a very small stamp fee. The exchange rate for TC are always better.

[Smiles]

Is it best to take an ATM card or Travellers Cheques to Thailand? I looked up other post on here, and seem to get mixed comments. Which is best? Thanks.
You get good exchange rates using both ATM's & TC's . . . . probably the best.

Where the difference lies is in the fees you pay to buy TC's at home, then cash them in Thailand. At my bank, and with my account, I can buy TC's for free. At the other end, in Thailand, all TC-cashing enterprises (primarily exchange booths and banks) charge a fee per individual travellers check. That's why is preferable to buy TC's in larger denominations ... it cuts the fee down.

ATM's are more convenient (open24-7 usually), but the fees you pay at your bank can be fairly high. For instance, my guy has an ATM card for a bank here in Canada to which I deposit some money every month. When he withdraws he gets tagged 5 bucks Canadian (whether he withdraws $50 or $500). I've told him this a million tims, but he still insists on withdrawing smaller amounts ... which he pays for through the nose. :blackeye:

All banks have their own foreign-withdrawl ATM fee scheduale, so enquire before you leave.

Bottom line is that if you are exchanging your currency for Thai currency you will always pay somebody, somewhere, a range of fees. Just depends on your own bank, the ATM machine you use, the bank you cash TC's at etc etc etc. Everyone takes their share . . . and that ain't only in Thailand!

For convenience, use ATM's and withdraw larger amounts ... the exchange rate you'll receive will probably be good. You may be uncomfortable using ATM's at night, so stick to well-lit areas with lots of people around.

For TC's, also buy in larger denominations because of the fee structure. You'll get an excellent exchange rate, but the convenience is not there, especially outside Bangkok and the resort areas. In many banks, be aware that lineups for cashing TC's can be fairly lengthy at times, and at both exchange booths and banks you'll definitely need your passport.

As noted in comments above, the issue of 'fees' is a revolving door . . . dependant on the bank(s) you use, the type of account you have with them etc etc. Some much better than others, though I often get sick of the whole rigmarole of wading through the fine print, and just go to Thailand with a combination of ATM card and TC's and try and forget the bloody fees as a price worth paying.

Cheers ...

As noted in comments above, the issue of 'fees' is a revolving door . . . dependant on the bank(s) you use, the type of account you have with them etc etc. Some much better than others, though I often get sick of the whole rigmarole of wading through the fine print, and just go to Thailand with a combination of ATM card and TC's and try and forget the bloody fees as a price worth paying.

Must admit, I'm one of the first to try and save money when it comes to ATM card and TCs and have come to the point where I'm a little fed up with the fees and the subject matter, hence Smiles comments "forget about the ......." love it.

You have quite a few opinions on here so you should be able to decide for yourself now.

Thanks Smiles and the rest of you for the really good info. Very helpful information, as this will be my first visit to Thailand.

I generally use ATMs these days, but one advantage of changing a TC at a counter is that you can ask for some smaller-denomination notes. The ATMs usually spew out big ones only.

[Michael]

I've always relied on ATM with no problems, until last year when my Nationwide Card split less than a week before my departure to Thailand. I wasn't sure if it would still work in ATMs, so I bought some travellers Cheques.

If you're in the major tourist areas of Thailand everything will be fine with travellers cheques. But, even slightly out of the tourist central bankok, I found problems and long delays in cashing them. When I got at far as Khon Kaen only the bank branches nearest the major tourist hotels would cash them and even then it took ages.

So, Travellers Cheques are fine for major tourist areas, but in other areas, it's far easier to find an ATM rather than a bank that is willing to cash your travellers cheques.

[dave_tf-old]

I take a mix of both, as well as a relatively small amount of clean, new currency in large denominations. I DO NOT ever want to be in a foreign country on the other side of the world relying solely on one form of ready 'cash'.

ATM cards, even with Visa or Mastercard logos, are subject not only to fees, but down-times and withdrawal limits (as well as 'protecting' me from 'misuse' of my own card) that have left me more than once without funds temporarily. I know it is rare, and my experience is not often shared by others, but it HAS happened to me, and I don't want it to ever happen again.

My method is simple. I take my expected budget in Traveller's Checks. If I know I'll be spending 100 dollars a day and plan to be there 20 days, I'm packing 2000 in TC's. I'll then use my ATM card to withdraw currency and pay for lodging, as well as any unexected purchaces and in-country transportation. If I don't go hog-wild in spending, I'll take a large percentage of my TC's back home. My bank issues them for free. This way, I am assured of enough money to continue my holdiay regardless of the whims of electronic banking.

Assuming you have one, I'd also carry a Credit Card with world-wide acceptance, but I would only use it for emergencies which, thankfully, I have not had to do.

Call me a luddite if you will, but I hope none of you find yourselves with bills to pay and a kink in the system.

[rincondog]

It is a good idea to call your ATM card issuer to let them know you will be using the card in Thailand. Many times cards are blocked except for use in your home country.

I take American Express TC and have never had a problem using them. I also take an ATM card as a back up and have had times when the ATM's were down, especially if on a holiday weekend and also have had high fees charged by the thai banks.

[Up2U]

Some western banks are restricting the amount you can take out of ATMs in Thailand now. However, if you have a ATM card that is also a debit card you can draw decent amounts over the counter of most banks. The only charges I pay for this using the Bangkok Bank are those made by my home bank, and thats the same rate as ATM usage.

Traditional banks here in America often charge fees for almost reason they can dream-up. If you use credit unions or on-line banks similar to Etrade, ING you will pay no fees. I have no special restriction for ATM's in Thailand only my daily withdrawl limit.

[adman5000]

If you return repeatedly to Thailand, I have found having a local Thai bank account and ATM is useful and easy to do. I just replenish it by wire before I arrive. No fees and convenient. It is generally better to have it translated to Thai baht in Thailand as your bank will charge much higher fees if they do it and give a less favorable rate. It is also helpful as you can transfer directly to others bank accounts if you need to (including at other banks).

I use my home country ATM sparingly as there is generally some type of fee at one end or the other. I also carry some AMEX TC which I get for free and find that you get the best rates on $100 denominations. Better rate than cash as I recall. I have never had a problem cashing them at banks and have done so quickly.

[Up2U]

Some western banks are restricting the amount you can take out of ATMs in Thailand now. However, if you have a ATM card that is also a debit card you can draw decent amounts over the counter of most banks. The only charges I pay for this using the Bangkok Bank are those made by my home bank, and thats the same rate as ATM usage.

Traditional banks here in America often charge fees for almost reason they can dream-up. If you use credit unions or on-line banks similar to Etrade, ING you will pay no fees. I have no special restriction for ATM's in Thailand only my daily withdrawl limit.