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best method of funds in phuket visa,cahs or t cheques?

sunshine coast
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best method of funds in phuket visa,cahs or t cheques?

Hi

what is the best method of converting money in phuket and do the exchanges have different rates. Also has anyone had problems with their visa?(fraud) What about travellers cheques. We are very inexperienced and last holiday we used our visa at atms and of course the charges were quite high. Has anyone set up a cash passport? All positives and negatives would be great to hear.

adelaide s.a.
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1. Re: best method of funds in phuket visa,cahs or t cheques?

hi may49

we havent been to phuket yet going in april 08 but we have travelled a little and have always taken cash with us the only place we have used our visa was in singapore on our way to veitnam so i cant help with that question

but look around for exchange rates the are all diff some times even your hotel have ok rates but make sure you always count out the money in front of them sometimes they can rip you off

inlaws used their visa over there and when they got home they found out their cards were cancelled by the bank and new ones sent out but not sure about your bank

hope some info has helped

shaz

Adelaide, Australia
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2. Re: best method of funds in phuket visa,cahs or t cheques?

Hey

Travellers Cheques are definitely the way to go! You can currently get them commission free through the post office or online at Westpac. Ask for $100 or higher. Dont get the $50 ones. You are only charged 33 baht per travellers cheque to cash (around $1!) and the exchange rate is ALWAYS better than for cash or at an ATM!

Those exchange booths are everywhere and I never had any hassles cashing them. They are also insured so if you lose em they will be replaced, unlike cash!

So do it through the Post office or Westpac online (and it will cost you nothing to get them) ... then $1 per cheque over there... the cheapest and best way in my opinion! I cant understand why more people dont use them!

Reet xx

Gold Coast...
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3. Re: best method of funds in phuket visa,cahs or t cheques?

Hi May49,

What we did was take over a large amount of AUS $ and left it in the safe in the rooms, then every few days or so, exchanged a couple of hundred dollars at the exchange booths. Do not exchange at the hotels as they will not give the same rate. We got between 29.7-31 baht every time. Pay cash for evrything you can.

My advice would be to try not to use your credit card at all, and if you have to, only at hotels to pay for accomodation. There is a high degree of credit fraud in Thailand, and it would be a good idea to inform your credit provider of your travel details to cover yourself.

Personally, I think travellers cheques would be a hassel, but only my opinion.

Your EFTPOS cards work over there and this would be a better option.

Dazza.

Adelaide, Australia
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138 posts
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4. Re: best method of funds in phuket visa,cahs or t cheques?

Hi May49

We did like Dazza did and took Aussie dollars and kept the balance in the safe in the room and just cashed a few hundred dollars at a time when needed. I thought we took enough cash to last us about a week and then intended to use the ATM machines (that are everywhere) but the cash we took lasted the whole 12 days!!

There are quite a few money exchange booths around and often a few within a short distance of each other. We always looked ata few nad chose the best return. The best we got was at Central Festival Shopping Centre where we cashed money - twice - there are a few banks all together on one floor there.

We did cash some money into baht before we left Australia in case it was needed on booking in at our Hotel - but after telling staff we did not bring a credit card they said it was OK and didnt ask for a cash deposit anyway!

Deb

Adelaide, Australia
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5. Re: best method of funds in phuket visa,cahs or t cheques?

Dazza,

Just curious how you think that travellers cheques are a hassle? They are exchanged at the same places as cash, they are insured if lost or stolen AND they get a better rate than cash?!!

Not nitpicking... just curious as I see a lot of people say the same thing about travellers cheques....

We used them and never once saw them as a hassle.... whats the difference between handing a TC over the counter or cash?

I guess if you are staying in the one spot and you have a good safe in your room then it is same ole same ole , however for myself personally travelling around Thailand the security of TC's was much better than cash....

Reet xx

Brisbane
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6. Re: best method of funds in phuket visa,cahs or t cheques?

Reet do you have to show your passport or something like that to cash them or are they readily accepted. I just dont want the hassle of having to take a bag out with me.

Also what is the exchange rate like actually buying them or do you take Aussie dollar ones. Is there a fee to get them?

I have always taken cash. One time a friend got travellers chqs to take to Bali and yes he left them at home. I know you could do the same for cash but I know we wasted a whole day going into denpasar to the bank and many calls later we did get help to get them replaced.

Wendy

Gold Coast...
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7. Re: best method of funds in phuket visa,cahs or t cheques?

Hi Reet,

Probably a bit of ignorance on my behalf as I have never used them, but as Wendy said, I'm not that keen on having to carry passport/id etc. Trav. Cheques are probably fine, I just found cash easy.....

Dazza.

sunshine coast
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114 posts
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8. Re: best method of funds in phuket visa,cahs or t cheques?

Thanks everyone for your replys,

Has anyone heard of a cash passport? My bank tried to get me to use that but I was unsure.

Also what is the security like in most big hotels, Are tha safes ok to leave money in.

With travellers cheques, is it only particular banks that issue them? And can you get a travellers cheque that either my self or partner can use. I know that they are pre signed and then you have to sign in front of the person exchanging them. I've just never used them so unsure of all the procedures.

One last q when shopping and on the streets doing the touristy thing do you get many thieves or pick pockets ?

Adelaide
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474 posts
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9. Re: best method of funds in phuket visa,cahs or t cheques?

Hi May...Just to confuse you and add another alternative!!

Our holiday cash plan:

Took approx 2000 in baht with us.

Used credit card only to book 2 tours (through hotel).Been back 3months OK so far.

Paid cash when we settled up hotel account.

For the rest, we opened a 'travellers cash account' from the commonwealth bank . These accounts are like a standard ATM card, but you only put in what you want for the holiday. You have a selection of currencies to put in - from memory Aus, USD or Euros. There are also some benefits with security etc - but you would have to contact the bank to find out more.

When we withdrew the cash, we did it in large lots (around 5000 - 7000 baht) and put what we didnt need in our hotel safe. We had an ATM right outside out hotel - very convenient. By withdrawing larger amounts it helped to reduce charges.

To be honest, we didnt slavishly check the exchange rate every day and probably could have got better rates elsewhere. For us though - it was the convenience. I am a very poor at budgeting when on holiday and tend to pretend I am rich (LOL). So, maybe, If you are ]looking to maximise your holiday dollar - I may not be the best guide.

And as another poster said - we spent way less than we thought we would (even me) because everything is sooooooo CHEAP!!! Mind you, what we saved in Phuket - we spent in Singapore!

sunshine coast
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114 posts
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10. Re: best method of funds in phuket visa,cahs or t cheques?

Oh I forgot, one more question.

How much money are you allowed to take into thailand in australian dollars. Is there a limit?