Travellers Cheques versus Travel Money Cards

[bluejets]

Due to return in a couple of weeks time and did the usual visit to the bank for travellers cheques only to be told "nope, don't keep any here anymore. You can order them and they'll take a few days to get here or you can use the "new" system that will eventually make the cheques obsolete..... Travel money cards".
Seems fine but they also get a slug of your "hard earned" every time you turn around and do something they consider to be "out of the ordinary" like use it for currency conversion to Thai baht.
So, anyone still use the Travellers cheques? I suspect so.

[papaguido]

Travelers cheques are still accepted here. If you can get them use them. Probably the only way you're not going to get gouged on service or conversion fee's. I'm not familiar with Travel Money cards so can't comment.

Most ATM's are charging a 150bt service fee .
Cash Advance on debt card (Visa/Master Card), no service fee, but will incur a 1% conversion fee.

[maaka]

use cash only, its a risk but is never out of my sight, however cash talks..backup is a visa card which ATM takes..some cards have the word PLUS on the back, and any ATM with this PLUS logo, will except your card..one in Bangkok airport on arrival..

nice to get a "bangkok bank" account if you can, and transfer your money before arrival..The bank refused me because I wasnt married to a local, but if I had dragged in my dear old thai lady friend, who is of some standing in the udon community, they would have coughed up, so they said..but I didnt want to ask such a thing of her..

[LoongLee]

http://usa.visa.com/personal/cards/prep ... money.html

[LoongLee]

http://www.postoffice.co.uk/portal/po/c ... d=26800661

[rick]

I used travellers cheques last november - sterling from lloyds bank, pre-order and collect in 48 hours, no charge. in thailand, only issues - 1% charge to cash in (not too bad) but took cashier 30 minutes to count, recount, photocopy, sign, get counter signed by boss, then calculate baht, count out, recount, sign. make sure you have plenty of time! but was the cheapest option. get an account at Lloyds if your bank will not do them.

travel money cards - their are a host and they may be the future; but also lots of costs. Some cards issued free, others not. last 2-3 years. When expiring any balance under £5 lost. The exchange rate you get varies, some cards charge up to 3% conversion fee. Also, usually charged a fee (£1.50 or so) each time you use it. not certain if you get hit by the 150 baht charge as well. So choose your card carefully. I got one card, with reasonable exchange rate - fairfx.com. but sure you can get details from comparison website (remember to check ALL the conditions).

Best and most convenient way - nationwide debit card. can use in thailand, 1% charge plus the 150 baht ATM fee (not all ATMs).

[wokkawombat]

I have used Amex TC, AUD currency for years. No problem cashing them and the commission charged in Thailand is 33 baht per cheque so get the largest denomination available. Also a good idea to email the cheque numbers to yourself.

As for time required to cash them it depends on the bank. SCB are fast but rate is down a bit. Kasikorn stuff around a bit but their rate is normally the best.

John

[bluejets]

Yes.... I think I will stick with what I know i.e. travellers cheques for the time being at least.

The banks here may provide the service at a lower cost in years to come and reconsider then maybe.

Thanks for the replies.....much appreciated.

[stokiebaz]

just thought i,d let you know last trip i took cash all in 50 pound notes but two notes had writing on them which some banks in uk do to keep a count and not one bank in udon would change them because of the writing ,lucky for me a friend was going back to uk and he changed them for me.so next trip its travellers cheques for me..

[rick]

yep, when considering between travellers cheques and cash, remember cheques give you a guarantee if lost - but probably get slightly worse exchange rate. Do not buy foreign currency in uk as a rule because you nearly always get lousy rates - some are offering as little as 48 to the pound. you will get a better rate at an ATM even with the 150 baht charge if you have a good debit card (e.g. Nationwide).

[thrilled]

I've never used travelers checks.I opened A bank account put my money in it and use the atm,simple and easy.