How do you take your spending money to LOS?

[Quietguy]

I've been to LOS 4 times now. Each time I took cash (£) and changed as much as I needed at a currency exchange every couple of days. My hotels had been prepaid through Agoda before I went.

As I only went for 2-3 weeks I thought this was the best way to take my spending money. I left most of my cash in hotels' inroom safety boxes.

 

Now I'm planning to go for 8 weeks next January-March. I will probably only prebook a hotel for first few days, and look for other places to stay when I get there. I might be staying at guesthouses or hotels without inroom safety boxes. 

 

I guess it wouldn't be a good idea to be carrying wads of cash around, so what is the best way to take spending money. Are Travellers Cheques easy to change and a safe way to take cash. I have seen these preloaded cash cards. Are they a good way to take my money? 

What do you do?

[SiamSam]

I usually take a modest amount of Thai baht with me purchased at the airport currency exchange in my home country. I also buy large denomination ($100/$500) American Express traveller's cheques before my departure. You get the best exchange rates in Thailand with large denomination TCs. I get enough in TCs to cover my day to day expenses for food, drinks, bar fines, mongering levies/taxes and hotels in the event they do not take credit cards. I keep a record of the TC numbers at home just in case they get lost or stolen and a record of them in a separate area in my luggage or hidden in my hotel room. The TC themselves are kept in the hotel room safe along with any other valuables. 

[bumblebee]

I usually take a wad of cash and lock it away in my room safe as soon as I arrive. I also use my credit card, but deposit a sum in it so that it does not cost me anything to withdraw my own money.

 

In Pattaya I take the CC with me when I know I'll be near one of the 2 Aeon ATMs and withdraw what i need for a week or so.  So it's a bit of a juggling act between changing cash when I need it immediately and the ATM when I am in the area and don't want to waste a trip.

[rxpharm]

Hotel safe security is quite over rated. There is someone who has a master code/key that can unlock all the safes in the hotel. In addition see this video:

 

 

SiamSam gives good advice about Traveler's Cheques - except that you will get a better rate from the exchanges in Thailand, so there is no need to exchange any in your home country. The Airport has exchanges open 24/7 - and the rates there are almost the same as the rates in the city.

 

If you have a special credit card or a privilege account- a gold card for example - one of the benefits might be commission free traveler's cheques - that is a plus, and will save you something like 1.5% when you are purchasing them from your bank. American Express is usually the best company to use - a few of the others like Thomas Cook might not be accepted at all exchanges. Get the highest denomination cheques you can obtain - generally the 500 Euro or dollar ones. There is a stamp duty charge when cashing traveler's cheques - something like 27 Baht, so this cost is minimized with the higher denomination ones. Always have the numbers recorded and kept separately from the cheques, so you can get them replaced if lost or stolen. You also need to have the receipt as well.

 

I store valuables locked out of sight in my luggage (hard bags), or I use the hotel lobby safe deposit. The method is to put your valuables in an envelope - sign it along the seal, then tape and staple it shut, so it is obvious is there has been any tampering.

 

If you travel to LOS a lot, an alternate method is to open a Thai bank account and transfer funds to it before your trip, and use the Thai ATM card to withdraw cash when you need it. This avoids the 150 Baht extra charge almost all Thai banks apply when a foreign card is used in their ATMs. Also many of your home country banks charge extra for using an ATM out of their network, so the costs pile up.

 

You can also use your home bank's ATM card - but you will be charged extra as mentioned, and you might not get the best exchange rate either, as the ATM exchange generally gives you slightly less than the posted rates.

[stoolpusher]

Clever fuckers i will try that befor i put money in at a hotel thanks for showing that.

[xyzzy]

I have a Kasikorn bank account and often on longer trips transfer a large sum from my US bank.

 

I now have two credit cards that charge no foreign transaction fees. Seems to be a newer trend with travel type (airlines, etc) credit cards. Last trip I used one of these no fee cards at no fee AEON ATMs for cash advances. I tried to go online and pay off the card balance at my bank as soon as the charge hit but took a day or two extra a couple of times. I ended up paying slightly less than US$2 in interest fees while taking out US$4000+ on the trip. So this is also a good option for me. Although it takes some effort to get to an AEON ATM in Pattaya. Much easier in BKK if staying hear Nana.

 

My last trip I stayed at a hotel in Pattaya for two weeks. When I checked in I tried to reset the the electronic code on the safe but the reset button you push inside the safe was missing. So they gave me the key for accessing the safe. But remembering something about this type of safe from a previous use I locked the safe and entered 1234A and the safe opened...

 

Probably would only help a little but I'm thinking about buying one of these for hotel safes:

 

http://www.corporatetravelsafety.com/catalog/milockie-hotel-safe-lock-p-940.html

[globetrotter]

I have a Kasikorn bank account and often on longer trips transfer a large sum from my US bank.

 

I now have two credit cards that charge no foreign transaction fees. Seems to be a newer trend with travel type (airlines, etc) credit cards. Last trip I used one of these no fee cards at no fee AEON ATMs for cash advances. I tried to go online and pay off the card balance at my bank as soon as the charge hit but took a day or two extra a couple of times. I ended up paying slightly less than US$2 in interest fees while taking out US$4000+ on the trip. So this is also a good option for me. Although it takes some effort to get to an AEON ATM in Pattaya. Much easier in BKK if staying hear Nana.

 

My last trip I stayed at a hotel in Pattaya for two weeks. When I checked in I tried to reset the the electronic code on the safe but the reset button you push inside the safe was missing. So they gave me the key for accessing the safe. But remembering something about this type of safe from a previous use I locked the safe and entered 1234A and the safe opened...

 

Probably would only help a little but I'm thinking about buying one of these for hotel safes:

 

http://www.corporatetravelsafety.com/catalog/milockie-hotel-safe-lock-p-940.html[/quote

I' ve seen press on those before and they look like a real winner and money well spent for peace of mind

[rxpharm]

Getting a bit off topic, but still pertinent in terms of security - some Amazon reviews of the Milockie Hotel Safe lock: http://www.amazon.com/Milockie-17312-Hotel-Safe-Lock/product-reviews/B0042WWMA8/ref=dp_top_cm_cr_acr_txt/185-0693090-6393125?ie=UTF8&showViewpoints=1

 

A couple of important points - it is not made of metal - it's plastic. The strap that secures the housing to the outside of the safe is nylon and can easily be cut. However a reviewer gave good upgrade advice.

 

This would probably deter the quick grab thief, but a determined one would only be slightly delayed unless you did the upgrades.

[garrydirty]

I take TC which i try to get in £100,s as covered insurance wise also take some cash also a top-up credit card which u can find out the best ones on line think it comes under the heading Top 10 pre-paid credit cards that way u find the one that suits u, as have different rates on top-up, and using them in different parts of the world....Regards Garry

[Quietguy]

Thanks for the advice guys. Seems the most secure and easiest way is to take large denomination Traveller Cheques. I think that's what I will do, plus a small amount of cash in smaller denomination notes. I do have a British Airways American Express credit card so I will check to see if they charge foreign transaction fees.

Depending on how this longer trip goes I might be going every year for 8 weeks in the winter now that I'm retired, so might look into opening a Kasikorn bank account.

[pdogg]

If one is an American Express card holder, I think you get order Amex Travelers checks for free.

 

In Thailand you get s slightly better rate using TCs instead of cash but there is a fee of about 33 baht per check. So get the highest denomination you can.  Some Yanks seem to have difficulty obtaining travelers checks in $500 denomination and not sure if they issue them in $1000 denomination.

 

With travelers checks size matters!  

[Quietguy]

If one is an American Express card holder, I think you get order Amex Travelers checks for free.

It seems I can order Amex TCs online directly from American Express or from the Post Office for free - you don't need to be an Amex cardholder. But if I pay with debit card, the card provider charges 2% transaction fee. If I use a credit card there's a 3% transaction fee, even with an Amex card.

 

I rang the London American Express office and was told I can buy the TCs with cash at their London branch (in Haymarket SW1).

So this is what I'll probably do to avoid the card payment fees. That will save me over £100. It's probably possible to do that at Post Offices too, but you get a slightly lower rate of exchange for US$ TCs.

 

I will get the US $500 TCs, and take some cash in case I need to change smaller amounts towards the end of my trip.  

[joeaf]

I live in the US in the DC area and I buy my Amex travelers check (at no charge) at an Amex travel services office.  I pay with check or charge a limited amount ($1,000) to my Amex credit card.  My Costco Amex card views my traveler check purchase as a normal purchase, but my PenFed Amex card views this as a cash advance and charged me a finance charge. 

 

I have never had problems exchanging the $500 denomination Amex traveler’s checks in Pattaya, Phuket, or Bangkok.  I always verify and recount the baht I receive at the exchange window and anything larger than the $500 denomination is more susceptible to miscount.

[mardhi]

It seems I can order Amex TCs online directly from American Express or from the Post Office for free - you don't need to be an Amex cardholder. But if I pay with debit card, the card provider charges 2% transaction fee. If I use a credit card there's a 3% transaction fee, even with an Amex card.

 

I rang the London American Express office and was told I can buy the TCs with cash at their London branch (in Haymarket SW1).

So this is what I'll probably do to avoid the card payment fees. That will save me over £100. It's probably possible to do that at Post Offices too, but you get a slightly lower rate of exchange for US$ TCs.

 

I will get the US $500 TCs, and take some cash in case I need to change smaller amounts towards the end of my trip.  

 

Why bring US$ cheques - your just doing a double conversion on currency. GBP T/C's are just as welcome and you do not have an exchange difference to factor in. (assuming Amex still issue GBP T/C's!!)

[Lone Ranger]

 (assuming Amex still issue GBP T/C's!!)

 

Yea they still do T/C's ! Well I hope so as I just ordered some from the bank yesterday. 

[Quietguy]

Why bring US$ cheques - your just doing a double conversion on currency. GBP T/C's are just as welcome and you do not have an exchange difference to factor in. (assuming Amex still issue GBP T/C's!!)

Yes they do GBP TCs. The reason I was thinking of taking US$ TCs is that there is no charge for foreign currency TCs (US$  and Euros). They must make their profit on the conversion rate. There is a 1.5% charge for GBP TCs, so £15 for every £1k.

You are probably right though, with 2 lots of conversion it might be just the same to take money in Sterling TCs and accept the 1.5% charge.