What denominations of US Dollars should I take
May 25th, 2008, 02:51 PM
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What denominations of US Dollars should I take
I don't use my credit card in Asia, and those ATM fees add up. Where can I cash in US dollars and not have to pay a fee. Should I bring $100 and $50 and smaller bills with me. I am planning on changing at the airport when I arrive in Bangkok at the bank with my us dollars. Will Hotels change my dollars into local currency. Has anyone done this. Thanks Alana
May 25th, 2008, 03:03 PM
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Hotels will gladly change your US dollars to Baht... however, hotels always have an exchange rate that is to their advantage, not yours.
Change your US dollars ($100 and $50 will get you a slightly higher rate) at banks and exchange windows.
While I use ATMs in Asia (I have an account that doesn't charge for foreign ATM use), I always take a few US$100 bills just in case I can't find an ATM or it is out of order. Many times I have changed dollars at the bank or exchange window at the airport.
Change your US dollars ($100 and $50 will get you a slightly higher rate) at banks and exchange windows.
While I use ATMs in Asia (I have an account that doesn't charge for foreign ATM use), I always take a few US$100 bills just in case I can't find an ATM or it is out of order. Many times I have changed dollars at the bank or exchange window at the airport.
May 25th, 2008, 04:11 PM
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Take new $100 bills- go to your bank and request new bills- examine them to ensure there are no tears or marks on them. This is what I do when I go to Asia- I use cash everywhere and just keep a credit card as a backup. I use a security wallet of course.
May 25th, 2008, 04:29 PM
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Just to clarify: There are no fees for exchanging cash in Thailand (or anywhere else) - unlike travelers checks.
Also, I would put it more forcefully: DO NOT change money at hotels. Their exchange rate is often 10% worse than the banks.
However, there's no real need to shop around various banks to find the best exchange rates in Thailand. Most of the banks offer the same rate on the day. There are exchange booths at most tourist places.
Also, I would put it more forcefully: DO NOT change money at hotels. Their exchange rate is often 10% worse than the banks.
However, there's no real need to shop around various banks to find the best exchange rates in Thailand. Most of the banks offer the same rate on the day. There are exchange booths at most tourist places.
May 26th, 2008, 08:09 AM
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Jed, whether there are fees to get cash from an ATM depends on your bank. The Thai ATMs do no charge. You bank may charge a per use fee (some charge as much as $5 per use) and most banks charge a foreign exchange fee ranging from 1 - 3% of the amount you withdraw.
It does make sense to carry larger bills to Thailand, as you'll get a slightly better exchange rate for $50s and $100s. You'll only use baht in Thailand (no dollars) so there is no reason to have smaller denominations. In Cambodia, where the US dollar is the preferred currency, it makes sense to take smaller bills.
In Laos, it was useful to have $20s, as a $20 converted to kip completely filled my waistpack. For a US$100 bill, I'd need a backpack.
It does make sense to carry larger bills to Thailand, as you'll get a slightly better exchange rate for $50s and $100s. You'll only use baht in Thailand (no dollars) so there is no reason to have smaller denominations. In Cambodia, where the US dollar is the preferred currency, it makes sense to take smaller bills.
In Laos, it was useful to have $20s, as a $20 converted to kip completely filled my waistpack. For a US$100 bill, I'd need a backpack.
May 26th, 2008, 09:43 AM
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Thanks for your replies. In vietnam I went to the jewellry stores to exchange my dollars and the hotels took dollars. So I usually get new bills and check them out (100 and 50's) only this time. I read on the forum to exchange dollars at the airport-something about a military bank there, exchange rate is good. I'll need it for the taxi into Bangkok. Thanks to everyone. Alana
May 28th, 2008, 08:53 AM
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Try to avoid travelex at the airport - their rates are usually much lower than what you'd find elsewhere.
Also, try to get as new bills as possible. I've had some bills rejected for just the slightest tear and had to 'shop around' a few older bills until I found someone who would take them.
Also, try to get as new bills as possible. I've had some bills rejected for just the slightest tear and had to 'shop around' a few older bills until I found someone who would take them.
May 28th, 2008, 10:15 AM
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alana
Some of the exchange counters on the streets DO give you a better rate than banks other exchange counters! In other words, while you are walking around, check the rates to see which ones are better than others.
If you are staying or walking anywhere near MBK shopping mall, the best rates I've found are at Siam Exchange, which is just around the corner from the new museum construction site, going in the direction of (but across the street from) Siam Discovery mall. There are many many exchange counters along the main streets. You do not have to search for a bank.
I agree with the others who say that you should take $100s and $50s for the best exchange rate. I always travel with $100s, as new as I can find. Don't take the old style bill with the smaller picture of Franklin in the center. The exchange places don't want these. And as others have said, don't try to exchange bills that are badly soiled, torn, written on, or too "used" as these might not meet their scrutiny at the exchange counter.
I have not used an ATM in Bangkok but use it all the time in Europe. My regular credit card is for my hotel and any bigger purchases that I might make. Most of my buying is in the markets, where only Baht is accepted!
Hotels will gladly exchange, but as others have said, they don't give you a good rate of exchange. Period. DON'T DO IT.
Have a great trip.
Carol
Some of the exchange counters on the streets DO give you a better rate than banks other exchange counters! In other words, while you are walking around, check the rates to see which ones are better than others.
If you are staying or walking anywhere near MBK shopping mall, the best rates I've found are at Siam Exchange, which is just around the corner from the new museum construction site, going in the direction of (but across the street from) Siam Discovery mall. There are many many exchange counters along the main streets. You do not have to search for a bank.
I agree with the others who say that you should take $100s and $50s for the best exchange rate. I always travel with $100s, as new as I can find. Don't take the old style bill with the smaller picture of Franklin in the center. The exchange places don't want these. And as others have said, don't try to exchange bills that are badly soiled, torn, written on, or too "used" as these might not meet their scrutiny at the exchange counter.
I have not used an ATM in Bangkok but use it all the time in Europe. My regular credit card is for my hotel and any bigger purchases that I might make. Most of my buying is in the markets, where only Baht is accepted!
Hotels will gladly exchange, but as others have said, they don't give you a good rate of exchange. Period. DON'T DO IT.
Have a great trip.
Carol
May 28th, 2008, 11:20 AM
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While you may be able to find exchange counters in Bangkok that give a slightly better rate than others, the rate at the bank counters in the airport use the same rate as the bank counters in the city. There certainly are airports in the world where the exchange counters give a significantly worse rate than you can get in the city. In my experience, exchange rates at banks and exchange windows typically don't vary by more than a fraction of a baht per dollar.
If you were changing a large amount of money, like a downpayment on a condo (ha!) you would want to seek out the money changer that Carol uses or the one that Ken (Kuranosuke) uses that gives a slightly better rate.
If you were changing a large amount of money, like a downpayment on a condo (ha!) you would want to seek out the money changer that Carol uses or the one that Ken (Kuranosuke) uses that gives a slightly better rate.
Jun 1st, 2008, 12:38 PM
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I bring a Debit Card (Visa or MasterCard logo,) Travelers Checks (free of commission form my credit union,) and cash - only $100 US bills. You get more in return for a hundred or fifty dollar bill than smaller currency!
Thailand is one of the best places for changing money over. Not like some of the other Asian countries who screw you on exchange!
The rates in Thailand are changed every day, but by only a small amount and either up or down. The rate you get at the airport will pretty much be the same you get in town for that particular day!
The money changers in Thailand are banks and mini banks - not money grubbing private money changers! The rate you get in one of these bank money changers will be more than the rate you get in a hotel or store. Travelers checks get a hair more than cash (33 baht commission per check.) Only take the large $100 size TC's to cut down on lots of fees for small checks!
Debit Cards work in ATMs okay. The rate of exchange is slightly more than what you get in the bank. Some banks charge a lot for ATM fees. Remember to take out the maximum you can to cut down on ATM fees. Some credit unions (like mine) pay the ATM fees, even overseas! For Credit Cards and Debit Cards make sure you notify your bank or CU that you will be out of the country or the withdrawal may be declined suspecting fraud!
I do bring a credit card for emergencies only. I also avoid using credit or debit cards for paying for cheap purchases - I use cash only! You won't be stuck with any Thai baht because when you leave for home you will be able to convert it back to your home currency at the airport. (I leave around 6 a.m. and the exchange booths is open at that time, also when I come in at midnight!)
Good luck.
Thailand is one of the best places for changing money over. Not like some of the other Asian countries who screw you on exchange!
The rates in Thailand are changed every day, but by only a small amount and either up or down. The rate you get at the airport will pretty much be the same you get in town for that particular day!
The money changers in Thailand are banks and mini banks - not money grubbing private money changers! The rate you get in one of these bank money changers will be more than the rate you get in a hotel or store. Travelers checks get a hair more than cash (33 baht commission per check.) Only take the large $100 size TC's to cut down on lots of fees for small checks!
Debit Cards work in ATMs okay. The rate of exchange is slightly more than what you get in the bank. Some banks charge a lot for ATM fees. Remember to take out the maximum you can to cut down on ATM fees. Some credit unions (like mine) pay the ATM fees, even overseas! For Credit Cards and Debit Cards make sure you notify your bank or CU that you will be out of the country or the withdrawal may be declined suspecting fraud!
I do bring a credit card for emergencies only. I also avoid using credit or debit cards for paying for cheap purchases - I use cash only! You won't be stuck with any Thai baht because when you leave for home you will be able to convert it back to your home currency at the airport. (I leave around 6 a.m. and the exchange booths is open at that time, also when I come in at midnight!)
Good luck.
