Travellers cheques.

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Travellers cheques.

Post by trubrit » December 7, 2017, 11:03 am

Whats the use of them these days? My visitor brought most of her funds in American Express travellers cheques as recommended by the UK bank and provided without charge by them , however when attempting to cash them here she has found it difficult, with none of the big banks in the Center accepting them and telling her she must go to their head office to exchange so off we went, there she handed over 100 pound in 20's, which the issueing branch had included in the original packet by default, she had no choice about demoninations supplied, only to find that not only do they not give a higher exchange rate for travellers cheques here but also charge 153bht per cheque +tax, meaning a total deduction of nearly 800bht from the figure received .Apparently this charge is made regardless of the value of the cheque being changed. Obviously this makes them a non viable means of taking money on holiday, in fact not only did several money exchange booths in Bangkok offer a better exchange rate for cash but at no cost as well .
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Re: Travellers cheques.

Post by BobHelm » December 7, 2017, 11:15 am

Travelers cheques have been a dead duck for a few years now - especially in this part of the world.

When I first came to Thailand (15 odd years ago) they were as safe a way as any to have cash to spend on your visit.

These days a Debit or Credit card is a better choice if you are worried about theft (as there are as many ATMs available as back home) & plain old UK cash if you are not worried about being mugged.

The cards will create a rather worse rate of exchange than cash because of potential charges at both ends, but if you are uncomfortable holding a large amount of cash at any one time then I think that is a minor worry..

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Re: Travellers cheques.

Post by Laan Yaa Mo » December 7, 2017, 7:30 pm

I had some lying around from a few years ago, and got them cashed at the Siam Commercial Bank at Central in Khon Kaen. The Siam Commercial bank at Central in Udon should be able to cash them too. I did not have to pay a large amount to get them cashed...around 200 baht, I think, for $600 U.S.

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Re: Travellers cheques.

Post by MALC » December 7, 2017, 8:45 pm

i cashed some in at the siam commercial bank inside the big c early this yr no problem

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Re: Travellers cheques.

Post by rick » December 7, 2017, 9:04 pm

I last cashed some about 3 years ago. And yes, i was quoted about 150 baht per cheque, and also had a mix of values, so pretty worthless as a means of exchange. Only use i see now for them is as emergency money (like the 20,000 baht you just might be asked for) and to cash them back in when you return home.

If planning ahead, there are cards with little or no fees for use abroad, they can actually work out cheaper than interbank transfers.

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