Cheapest way to get cash in Thailand?

[lovetravellingoz]

Ok, it has been several years since I was in Thalaind.

I understand that since then that there is now a new per transaction charge on ATM Withdrawls.....

So my trusty Wizard will be more expensive if I use that.

So what is now the best way to get local currency?

• CC still?
• conversting $Aust (though one does not want to carry too much cash
• ?????

I am flying in and out of coughet, though will be airside in Bangkok on the way there as we change planes.

Last time I was in Thailand the Currency Exchange at the Airport was ok vaue. Is this the case for coughet, or even airside in Bangkok?

Thanks.

 

[lovetravellingoz]

Ok..a little Googling suggest using AEON ATM's


AEON is not a bank, which is the reason they are not charging the 150 baht ATM fee that Thai banks do...

AEON here is the Thailand branch of a Japanese credit card company. They have ATMs so their customers can make payments and withdraw funds from their accounts with AEON. But their ATMs accept all regular VISA and MC logo cards, same as other ATMs.

and

How to Avoid ATM Fees in Bangkok, Thailand :: I Like Spam

So, what to do? Well, in Thailand you can simply to use Aeon ATM machines. There is some confusion on Internet forums about which banks charge what fees. Some of the yellow Bank of Ayudhya ATMs have no fees, but use Dynamic Currency Conversion (DCC) on MasterCard transactions to set their own exchange rate.
Your home bank will still charge you their normal fees of course. There are cards with no overseas transaction fees, such as the Wizard Clear Advantage MasterCard, so it is possible to access your money for free if you are real savvy.

The good news is this works. When I used Aeon ATMs I was not charged the regular 150 Baht fee, and the exchange rate was determined by MasterCard (about 1.5% more than the interbank exchange rate).​

 

[kpc]

Whilst I did not specifically look for them, I did not see any AEON ATMs when I was in Bangkok and coughet 2 months ago. Importantly, there are no AEON ATMs in BKK or HKT so you will haver to fork out the THB150 fee if use an ATM at the airport. I used the currency exchange at HKT to change AUD, and whilst it was not the official rate, it wasn't too bad or painful...

 

[greynomad]

Ok, it has been several years since I was in Thalaind.

I understand that since then that there is now a new per transaction charge on ATM Withdrawls.....

So my trusty Wizard will be more expensive if I use that.


So what is now the best way to get local currency?

• CC still?
• conversting $Aust (though one does not want to carry too much cash
• ?????

I am flying in and out of coughet, though will be airside in Bangkok on the way there as we change planes.

Last time I was in Thailand the Currency Exchange at the Airport was ok vaue. Is this the case for coughet, or even airside in Bangkok?

Thanks.

I take travellers cheques to Thailand. Its about $1 to cash a cheque of any amount so I take $200 cheques. There are so many banks and exchange booths around. Cheques are free with some credit cards or from the post office.

 

[Mrmaxwell]

The 150b ATM fee is a pain (currently equal to AU$5.20).

I have a NAB Gold Visa card which has no foreign conversion fees so this helps.

I always take Australian dollars, cash some at the airport on arrival and then convert as needed during my stay. I've always found the conversion rates very good at both airport and city change booths as they are run by the banks and not FOREX companies who add commission fees.

For longer stays I'll take the ATM fee hit once if I need to withdraw.

Traveller's cheques also sound like a good idea...I've never done this so may try on my next visit.

 

[zan5hin]

Just got back from 7 weeks in Thailand and exclusively used ATMs. I might look at the traveller cheque option however I think if the cheques are in Aussie or USD, they will rip you off with the conversion rates anyway so it will be equivalent to the ATM fees in the end.

I never saw an Aeon machine, but I was not looking for them either but will next time:

http://www.aeonthailand.com/lang/en/menu/Service_Location

I am pissed off having both a Wizard card and a NAB Gold Visa Card and I still get slugged with ATM fees everytime in the Philippines and Thailand. Japan was OK though.

I just make sure I take out a big amount each time, 20,000 baht or 20,000 pesos.

 

[Oneworldplus2]

Thanks for the tip zan5hin,
I am off to coughet today for a week.

I too have the Wizard M/C, but got hit 150baht each time in BKK last time l visited.

 

[lovetravellingoz]

I never saw an Aeon machine, but I was not looking for them either but will next time:

http://www.aeonthailand.com/lang/en/menu/Service_Location

Thanks for that. Looking at Locations then, they are very few around in coughet and nearby areas, and what ones there are are in awkward locations. So no wonder that you did not see any.

ie only one on coughet!!!


Looks like I will need to see who is best for TC.....as I have not used TCs for overa decade!!!!!!

 

[lovetravellingoz]

I always take Australian dollars, cash some at the airport on arrival and then convert as needed during my stay. I've always found the conversion rates very good at both airport and city change booths as they are run by the banks and not FOREX companies who add commission fees.

.

Yes I used to be mainly cash and TC.

But last few visits have been mainly using CC.


Also last time I was in Thailand, at least in Bangkok I think many machines had a quitea low limit...as I remember having to vist ATM machines a few days in a row to get enough cash to pay my hotel bills.

Are low Daily Limits on ATMs common still?


Looks like this trip will be cash and TC....with ATMs used when cuaght short and as back-up.

Exchange Rate

Last Xmas in Vietnam I found the rate or cash was often better than that obtain via Wizard.

Does anyone know how the rates for:

*ATM's
* TC
* cash currently compare?

 

[lovetravellingoz]

I am off this weekend. Any more suggestions?

Also on coughet and Khao Lak, what are the typical maximums that you withdraw from an ATM?

 

[Aussie_flyer]

I use NAB Gold banking and AEON atm's exclusively now. I am fortunate enough to live pretty close to an AEON branch in bangkok.


There are loads of AEON locations in Bangkok.

Otherwise just cop the 150baht and use other ATM's if you don't want to bring large amounds of AUD. Take as much as you can per transaction. I thought it was 20,000 baht maximum typically but im not sure.

 

[lovetravellingoz]

I use NAB Gold banking and AEON atm's exclusively now. I am fortunate enough to live pretty close to an AEON branch in bangkok.


There are loads of AEON locations in Bangkok.

Otherwise just cop the 150baht and use other ATM's if you don't want to bring large amounds of AUD. Take as much as you can per transaction. I thought it was 20,000 baht maximum typically but im not sure.

Thanks.

However, unfortunately I will be in coughet, Khao Lak etc where AEONS are almost noon-existent.

 

[lovetravellingoz]

Fortunately I am temporarily earning 2.5 rather than 1.5 points per $ with Amex.

So for this trip looks like my strategy will be:

• Use Amex for hotel bills
• Take a fair bit of Aussie $$ with me (but not all as am mindful of the risk of theft/loss)
• 28 (Wizard) card for some ATM withdrawls at the machine tx max.

However Banks? I assume that they will give out more cash over the counter on the 28 Card than the ATMs will be set for.

 

[JohnK]

Cash is definitely the best option closely followed by travellers cheques. I think it costs something like 33 baht per traveller cheque and the exchange rate is slightly better than the cash rate.

If possible avoid using the currency exchanges at the airport as the exchange rates are less favourable by as much as 1 baht per AUD and the best I have seen is ~50 satang (~0.5 baht) per AUD. I know it is not a big deal but I would rather have the 50 baht in my pocket than their pocket.

Also have a look around at the different currency exchanges. Usually in the touristy areas there are 5-6 of them within 500 metres of each other. You will soon see a pattern emerging as to the best exchange rate.

Also if you can find some non-bank affiliated currency exchanges you will get a much better rate. Sometimes I have seen a variation of ~40 satang per AUD but usually ~15 to ~20 satang per AUD better. I am lucky that I have 2 of these close to the hotel and I usually just walk around the block to see who has the best rate.

Personally I do not see it as a burden to carry AUD2,000-3,000 per trip. I do have a 28 degrees MasterCard on me for emergency but does not get used very often. I do keep ~2,000 baht with me after every trip which is more than enough for the taxi trip and some food and drinks.

Note that Amex is not widely accepted in Thailand especially outside of Bangkok.

 

[k_sheep]

I just changed some currency at the Laos-thai border last week, rates weren't too bad at all (changing laos, macau, chinese, australian currency). Tried to get cash out from wizard (copping the 150b fee) but of course, they recently killed my card for the rebranding and I didn't know about it. So I had to use my normal westpac transaction account - about $85 worth of baht, with $5 ATM fee, $5 foreign fee and another $2.63 in forex. Not a happy chappy ... but didn't really have better options.

If I'd been more organised I'd have grabbed maybe $100 of AUD and USD travellers cheques.