I'll be coming over with some American Traveller's cheques. How easy is it to cash them? If I recall correctly, there is a charge to cash them. Is a bank the best place to cash them or elsewhere?
Do most places accept traveller's cheques or should I cash them first? In my experience it is best to convert my Korean won into American money before I transfer it into Thai baht.
PB, you are picking the wrong time to change, as the baht is at an all time high 33 for a buck. Its easy you actually get a better rate than cash at the currency exchange booth of banks. No commission is charged. The higher the denomination the better the rate.
Too long in Exile, too long not singing my song.
Too long like a rolling stone, Too long in exile
Too long in Exile, baby you just arent my friend.
Too long in Exile my friend, Baby you can never go home again.
^ sorry, AO, I'm not too exchange rate savvy. What does this mean then for me?
All banks here have currency exchange. Most have booths in tourist areas so its very easy to exchange your money. But because the dollar sucks right now the baht is very high. I got 36 baht to the dollar in April and this was good, but since it continues to rise.
Example 3 years ago when I went home it was 42 baht to the dollar. Now its about 33. So your USD is not gonna go as far as it would a few years ago.
100 dollar checks get say 33.55 where a 20 might get 33.35, thats the idea.
Oh, that really is rough. I wonder whether it is worth me exchanging my won into American money before I go, or exchanging the won into baht when I arrive?
http://coinmill.com/ See which way will work out better.
Does that mean there will be less American tourists in Thailand then because of the high baht rate? haha.
you're earning won,right? definitely don't change it to US$ if you are coming to thailand.Originally Posted by phuketbound
with the falling dollar, i think you will certainly see less americans travelling overseas.Originally Posted by phuketbound
I dont think most Americans understand currency exchange rates
Phuketbound - There are money exchange places in Itaewon where you can change your won into euros. I checked out a couple of places yesterday and the best rate quoted was.......1 euro = 1,234 won. Shop around for the best deal.
There are also a couple of black markets here which I intend to take a look at before I leave in September. If you change into euros, then you can go to Super Rich and exchange into baht after you get to Bangkok.
Avoid the banks at all costs.
Why?Originally Posted by My_Kow_Lope
I too like Super Rich, but PB has indicated he will be taking travellers checks, as I recall Super Rich is for currency only. Unless he is changing over 10,000 usd he will not lose much.
As has been pointed out on many threads.
1. I think Phuketbound is a girl.Originally Posted by aging one
2. She will lose as much as 5% if she goes to a Korean bank.
I've already calculated my own situation...using various rates from Korean Banks, UK banks, and money exchange offices in Korea and Thailand. I've done my homework on this.
^ Thanks, yes a girl here.
So, it is better to exchange my money into Euros then to Thai baht once in Thailand?
I didn't want to carry around a lot of cash, so was going to put some of it into traveller's cheques. I did that last year when I went.
Sorry for the confusion on both fronts, I was talking of Thai banks!!!