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Taiwantroll
Joined: 10 Sep 2006
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 Posted: Thu Feb 17, 2011 3:56 pm Post subject: Currency conversion for travellers |
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I know this has probably been dealt with extensively but the search feature never seems to work for me and it is just easier for me to ask again.
I am going to Thailand for vacation and I would like to know if I will lose significantly by withdrawing from my Korean ATM card in Thai baht while in Thailand?
Further, I am assuming it is best to buy Thai baht at the airport directly from Korean currency. Is that correct?
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Thu Feb 17, 2011 4:20 pm Post subject: Re: Currency conversion for travellers |
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| Taiwantroll wrote: |
I know this has probably been dealt with extensively but the search feature never seems to work for me and it is just easier for me to ask again.
I am going to Thailand for vacation and I would like to know if I will lose significantly by withdrawing from my Korean ATM card in Thai baht while in Thailand?
Further, I am assuming it is best to buy Thai baht at the airport directly from Korean currency. Is that correct?
Thanks, |
DO NOT TAKE WON OUT OF KOREA.
Take US$. Buy dollars in Korea and buy baht in Thailand.
You will take a hit of $3-5 (b120-b150) per transaction every time you use a foreign card in a Thai ATM machine. Then there is the possibility that your Korean bank will also add an ATM charge (some do - some don't).
The good news is that on many Thai ATM machines you will have a transaction limit of about b20k so if you max out the transaction (withdraw 20k baht) the fee (as a percentage of the transaction) won't hurt so much.
Also, unless your card is PROVEN BY USE to work abroad, do NOT depend on it. Korean bank cards are notorious for NOT working abroad (even after the clerk at the bank has assured you that it will).
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Taiwantroll
Joined: 10 Sep 2006
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| Posted: Thu Feb 17, 2011 4:48 pm Post subject: |
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Yes but I prefer not to carry that much cash. My ATM has worked overseas in several different countries, though I have never tried it in Thailand, so I don't anticipate any problems.
I have been told that you lose a considerable amount of money if you convert twice, once to US dollars and again to Thai baht. |
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teachingld2004
Joined: 29 Mar 2004
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| Posted: Sat Feb 19, 2011 7:51 pm Post subject: baht |
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I am going to Thailand Tuesday. My friends have all told me to change won to dollars at the airport here, and when I get to thailand to exchange 500 dollars to baht and take 400 american dollars and change as I need. (I am going for 6 nights).
Some friends told me to get a hostel or motel when I land, and others told me to book one today. I do not have a credit card, but stupid me reaized I can use my american debt/visa. So today I will look for a place with airport pick up some where near the sky train and the temples. I will book 2 nights, and then when I am there think about where to go for 3 nights and then go back to Bankok. One of my friends told me to go to koh Samet because that is not far. I do not have enough time.
OP, when are u going? |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Sat Feb 19, 2011 11:41 pm Post subject: Re: baht |
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| teachingld2004 wrote: |
I am going to Thailand Tuesday. My friends have all told me to change won to dollars at the airport here, and when I get to thailand to exchange 500 dollars to baht and take 400 american dollars and change as I need. (I am going for 6 nights).
Some friends told me to get a hostel or motel when I land, and others told me to book one today. I do not have a credit card, but stupid me reaized I can use my american debt/visa. So today I will look for a place with airport pick up some where near the sky train and the temples. I will book 2 nights, and then when I am there think about where to go for 3 nights and then go back to Bankok. One of my friends told me to go to koh Samet because that is not far. I do not have enough time.
OP, when are u going? |
Land at the airport and take the train into the city (red line - no stops). If you touch down before midnight you can connect to the BTS and 30 baht more takes you to the middle of Sukhumvit road (easy access to everything from there).
There are LOTS of rooms available in the 800-1200 baht range all along Sukhumvit road (from soi 8- to soi 20).
They ALL have easy access to the BTS or MRT.
Most have free or cheap (b50/day) wireless internet in the rooms.
The street rate (this morning along Sukhumvit road and at the Mo Chit bus terminal) for USD to THB is 30.23/$1 to 30.39/$1 depending on where you exchange at. Bring nice, crisp US$100 notes. Use that as your base comparison before you buy a lot of Baht at the airport.
IF you use your foreign ATM/VISA card in a Thai ATM you WILL pay a service fee to the Thail bank of b120-b150 per transaction at any/EVERY/all Thai ATM machines PLUS whatever your home bank charges for withdrawals .
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