OU_Chot

Is it best to primarily use a credit card in Thailand or exchange $ or Baht? I know my credit card company charges a 1% fee, but I believe I get a better conversion rate to offset that.

Have been told that some merchants charge an additional fee on top of the credit card 1% fee. Is this true?

Thanks.

Hanuman

Some merchants do try and charge an extra fee in Thailand especially for AMEX. However, at department stores, major hotels, gas stations, most restaurants etc they will not.

rhkkmk

i prefer to use an atm for cash and i find i get the best rates... small shops will often ask or demand 3-5% for credit card purchases...

dsyuki

I prefer to exchange credit to cash, incase that creditcard can't be used in some place.

Cattail

Does anyone still bring travelers checks? We didn't to Belize last year, and were sorry as people preferred them in a couple of spots.

Kathie

I haven't used travelers checks in decades. ATMs are so quick and easy and you get a good exchange rate. DO know what your bank will charge you, however. Many large US banks charge you $5 each time you make a withdrawal from an ATM plus a 3% foreign exchange fee. But many credit unions and brokerages will not only not charge you to use a foreign ATM, but will refund any fees the foreign bank charges.

Cattail

Thanks, kathie, I was pretty surprised that people asked for them in Belize, as the times we did take them, we didn't use them.

dsyuki, I'm afraid that I don't get it.?

SirHalberd

"Does anyone still bring travelers checks? We didn't to Belize last year, and were sorry as people preferred them in a couple of spots."

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Yes I do - all the time but only in Thailand! I have never had a problem cashing a TC in Thailand. You must show your passport to identify yourself and know your hotel room number. Travelers checks get a hair more in exchange than ordinary cash, at least American Express does.

The fee to use an ATM is 150 baht, plus any other fees banks apply. The fee to cash a travelers check is 33 baht. Only bring the largest denominations you can get. That way you do not waste cashing fees on very low value checks. I get my travelers checks from my travel union back home. There is no fee for those checks! Also, my credit unions pay for some of my ATM charges even overseas when I use my debit card. (I never use a credit card in Thailand. It is cash, travelers checks or debit cards - works fine for me for over a decade! I do have credit cards for any emergencies that may come up.)

If you do use an ATM for cash take out the most you can at one time. If you take out small amounts you pay 150 baht each time! You will not get stuck with Thai baht. You can change baht back to most currencies at the airport.

I pay cash for cheap things like meals and small purchases in shops. Every time you expose your credit card numbers you have a greater chance of fraudulent charges. When I use my debit card for cash I always pull up my account in a couple hours to see if the right amount came out. I prefer to use an ATM when the bank it belongs to is still open. That way if the card gets stuck you can ask a clerk to get it out!

Have fun.

Cattail

Thanks, SirHalberd! That information is a big help. I just got some TCs for free from my bank, and feel better relying on more than more than one or two cash sources.