Currency Exchange while Traveling

[uwo2001]

I will be traveling to Thailand/Australia/New Zealand for about 3 months early next year and am wondering if I should exchange a little bit of money before I leave or exchange it at the airport(s) when I arrive. Should I get travelers cheques or use ATM machines? What about using a credit card, do most hostels accept them in the above countries?

[SiuBun]

I ca speak for Bangkok, Thailand.

You may need a little bit of local currency to travel from the airport to the City, and from there, the exchange rate is alot better than the airport (in some cases, it was 20%-25% better). I exchanged mine from a local bank, of course ask them if there are any charges first.

Exchange rates varies quite a bit, even with two stores that are next to each other. And larger denomination USD bills ($50, $100) are worth more than smaller denomination.

[Jaytee]

I would change a little bit of money now.

Airports are known for giving really bad exchange rates.

[asdfvcx]

I will be traveling to Thailand/Australia/New Zealand for about 3 months early next year and am wondering if I should exchange a little bit of money before I leave or exchange it at the airport(s) when I arrive. Should I get travelers cheques or use ATM machines? What about using a credit card, do most hostels accept them in the above countries?
I'm always more comfortable having a little bit of local money on me when I arrive in a country. But for the most part I'll use ATM machines and credit cards. And if it will make you feel better, feel free to have a bit of money in travellers cheques as an emergency backup. However, they are a pain to cash in so many places these days.

And I found most hostels in Australia and New Zealand do take credit cards.

[wdowiakj]

I will be traveling to Thailand/Australia/New Zealand for about 3 months early next year and am wondering if I should exchange a little bit of money before I leave or exchange it at the airport(s) when I arrive. Should I get travelers cheques or use ATM machines? What about using a credit card, do most hostels accept them in the above countries?

I would use my credit card exchange rate and take money out at the ATM.

BTW, how did you book your flights? I am doing a very similar trip in mid January and was looking at the RWT Circle Asia/south Pacific. I am not sure if it will work out cheaper with the RWT or booking one way flights.

Joe

[uwo2001]

Thanks for the replies.

I booked all of my flights through Emirates. I'm sure I could have done it cheaper but I didn't want the hassle of trying to book flights while there. I think I got a pretty good deal for just over 2K per person (Toronto - Bangkok, Bangkok - Sydney, Sydney - Christchurch, Christchurch - Toronto).

[bilibulu]

If you had enough Aeroplan points, you could issue a ticket in Y for 75K, J for 100K, and F for 120K with 3 stops.

[emmpeethree]

sign up for an account with ICICIbank.ca

high value chequing account has free international ATM withdrawals and works on the maestro/mastercard network. the next best thing to citizens bank...

[sweetmikem]

Having travelled all of those places, just use your ATM.

[myversa]

I always exchange a little for the local currencies before I left just in case of some emergency.

The best rate will be to exchange at local currency shop.

[Cheap]

I travel for months at a time in Asia and I carry travelers checks and US cash. In Thailand I have cashed TCs at a couple of the major banks' currency exchange counters with no problems. ATM fees can be steep in Thailand. Most of the Thai banks charge around $5 now for using your foreign ATM card. http://www.bangkokpost.com/business/economics/16138/banks-asked-to-cut-foreigners-atm-fees

As for having local currency when you arrive in Thailand, don't bother. There is a SCB bank exchange booth right in the baggage hall that gives you the same rate you will get anywhere. Here: http://www.scb.co.th/exchange/bk-txtexchange.htm Get some small bills so you have change to pay the taxi.

I don't know about Aus and NZ

[zombie999]

ATM fees can be steep in Thailand. Most of the Thai banks charge around $5 now for using your foreign ATM card. http://www.bangkokpost.com/business/economics/16138/banks-asked-to-cut-foreigners-atm-fees

Wow! Sneaky bastards. They don't even warn you before completing the transaction. "Fee" was always listed on the reciept when using any thai ATMs but the fee was always 0 before. I guess with the tourism down, thai business way is to get as much as they can from those who still come.


As for having local currency when you arrive in Thailand, don't bother. There is a SCB bank exchange booth right in the baggage hall that gives you the same rate you will get anywhere. Here: http://www.scb.co.th/exchange/bk-txtexchange.htm Get some small bills so you have change to pay the taxi.


The rate is NOT the same. It's slighty lower than in the city but not too bad. If you bringing travellers cheques, bring large denomination. They do get higher rate but there is flat fee (stamp) per cheque (approx $1) to cash it.

There is an HSBC branch on Silom Rd. Their rates used to be the best and if you have an HSBC atm card, they may be fee free too.

[Pucca_Garu]

I will be going to Thailand, Vietnam and Japan in January...
Should we exchange into US then into their currency? Or should we just bring CAD? Which gets more value?

Never been to asia, any advice would be greatly appreciated

[zombie999]

For Thailand & Japan you can bring CAD. The rate is sometimes even better then for US (considering USD vs CAD rate).
For Vietnam, I don't know.

[Sgt_Strider]

Exchange rates varies quite a bit, even with two stores that are next to each other. And larger denomination USD bills ($50, $100) are worth more than smaller denomination.

I don't think that's unique to Thailand. When I was in Malaysia and Singapore earlier in the year, I also notice that the exchange rate varies with the different USD bills. The US$100 bill had the best exchange rate.

[Sgt_Strider]

Wow! Sneaky bastards. They don't even warn you before completing the transaction. "Fee" was always listed on the reciept when using any thai ATMs but the fee was always 0 before. I guess with the tourism down, thai business way is to get as much as they can from those who still come.

It's not unique to Thailand. Last month, I was charged $5 USD for using my Bank of America debit card in China. I was kind of surprised by that given that there was no warning whatsoever that there will be charges for using the card and the amount that they'll charge. I was kind of pissed, but what can I do, I had no local currency on me at the time and it was late so I couldn't cash my TCs.