How to exchange money to foreign currency on my holiday?

Question

I live in Australia and I'm travelling to Thailand in a few months.

How do I transfer my money to Thailand Baht?

I haven't got a credit card, but I have an ATM card with savings in it, will my card work overseas in their ATM's?

Or can I take cash somewhere to get it swapped over?

Answer 1

Many countries ATM's will automatically convert the rates a deliver the converted amount.  You can walk into most banks and make the conversion at the counter.

Try to have a budget so you know how much to get in one trip to the bank. They will charge for the conversion each time and so by making less trips to the bank you can save money.

But now you have more money on hand to be robbed. If you are American know that you are a target for thieves. Perhaps your bank has travelers-checks which can be replaced if lost or stolen.

Enjoy your trip...

Answer 2

I usually exchange a small amount of cash before I leave on my trip- this way I have cash on hand if I need it before I find an ATM/bancomat machine. It's good to have at least one days worth of cash on you when you get there (for taxis, buying food, last minute necessity, etc...). The easiest and most affordable way to get more foreign currency is to use the local ATM/bancomat machines. They usually offer the best exchange rates.