How to take money oversease, travelling?

Question

Im going to thailand, cambodia, vietnam and laos in october and Im wondering what the best way to take money overseas to those places is.

With a visa direct debit card?

Credit card?

travellers checks?

How much cash?

I'll be gone for 2 1/2 months

Thanks

Answer 1

For Thailand, no problem with changing cash and travelers checks over to Thai Baht.  Thailand uses banks and mini banks as money changers.  Rates are changed every day, either a little up or down - usually not by too much.  The rates you get will be about the same in all banks for that particular day.  The next day or a couple days later the exchange rate will be a little different.  These banks give better rates than stores and hotels. Don't change any money over before you come to Thailand, you will get your best rate in Thailand.  

Debit cards and credit cards work in ATM's.  Some credit cards have big fees per ATM withdrawal.  Take out the most you can at one time to cut down on lots of fees for small amounts of money.  There are financial companies that pay your ATM fees, even overseas.  Many credit unions pay your ATM fees or at least some of them.  If you don't notify your bank that you will be overseas an ATM may deny your withdrawal.  I use an ATM that is next to an open bank in case my card doesn't come back.  The bank employees can open the ATM and get the stuck card.  The rate you get from an ATM is pretty good.

There are some banks and credit unions who will sell you travelers checks in your country without fees.  When you cash a travelers check in Thailand there is a 33 baht fee per check.  Only take the higher 100 Euro or $100 denominations to cut down on a lot of fees for small amounts.  The rate you get when you change a travelers check is a little more than cash - just a small bit.  For US money - larger denominations like 100's and 50's give you a little more than smaller bills.  You can record your travelers check serial numbers in an email that you send to yourself and save into memory.  Other important "must remember" information can be stored in email form for easy recall in an emergency - lots of internet shops overseas.  Thailand is the easiest country to cash travelers checks in - almost all of the mini banks and banks will take them.

Before you leave home you can set up a BillPay that can transfer cash from your bank to the credit union or bank that sponsors your debit card if you want.  You can also make transfers via the internet from one bank to another if you set your account up that way.

I pay cash for cheap purchases, especially in small stores and restaurants.  If it is a cheap purchase  - use cash, especially in restaurants to cut down on the possibility of fraudulent charges showing up on your statement.  Always have some small bills for paying for cheap purchases, in Thailand taxi drivers may not be able to cash even a 500 baht note.  If you stay in cheap hotels it is easy to pay cash.  The Thai ATM's I use will give out 10,000 baht per day.  Some ATM's may allow higher withdrawals.   I always  use the safety box that the hotel provides and I don't leave the safe key out where it is easy to find.  

US dollars are also used in Vietnam, Laos and Cambodia. You might want to get some $1 and $5 bills.   For Laos and Cambodia, Thai baht may be accepted in some places close to the border.   DON'T leave Vietnam, Laos and Cambodia with their currency - after you leave those countries no one wants that currency.  Fewer ATM's in Laos and Cambodia than Thailand.

Good luck.

Answer 2

id say the visa debit is the easiest if it works in all those countries.  (it automatically converts your money so it saves you the trouble).  its easier to report it lost or stolen and easier to get replaced...with travelors cheques you have to keep the receipt in order to have them replaced.

*but inform VISA fraud protection first, or they will deactivate your card due to unusual activity!

Answer 3

If your British then set-up 2 different Nationwide Flexi Accounts it costs you nothing to withdraw your funds and you get a good rate of exchange.

If not set up a bank account in Thailand, exchange your money in Thailand better rate of exchange. You will get a ATM card to withdraw monies from.

Always take 2 credit cards as well.

It goes without saying you will have 2 different wallets also.

Answer 4

Cash, traveler checks, ATM card, credit card all works here in Thailand.  My advise is use ATM card it the best way to travel.  Also make sure your ATM card bank and credit card bank knows your traveling overseas so they don't lock your account when you try to use it over here.

Answer 5

Take a few thousand in US currency but leave the rest in the bank.  You can access your funds through ATM's just like in the states and if you think you are going to be needing a big cash transfer you should set it up with your bank in advance.  

I actually signed a blank transfer sheet before I left so when I needed a lagre sum the paper work just had to be filled out. I had already signed.

IMPORTANT!  make sure to tell your bank and inform your credit card companys that you are going to be out of the country and using your cards. otherwise they will cancel all your cards when they start getting charges from Phonm Phen or Bangkok. It can be real difficult trying to straighten that out over the phone.   Set up some code words with your bank etc. just incase of lost cards or fraud.  

More info if you need it.  Just email me.

Answer 6

Stan deserves the best answer,.  just take enough cash for the day .and use a debit card at an ATM, Check at your bank that your debit cardis accepted internationally.

Laos will accept Thai baht. and give you your change in Laos Kip or a mixture of Kip and $

Answer 7

When I travel, I only take enough cash to pay for food and transportation (cab, bus, etc.) while travelling. When I arrive, I purchase gifts and hotel with a credit card. When I need local currency, I find a cash machine and use my debit card - leaving the bulk of the cash in the hotel safe and carrying only what I need for the day. You might consider a backup credit card to keep at the hotel. Photocopy your passport and credit cards in case they get lost.

Answer 8

Credit, debit, TC, and cash works in Thailand and Vietnam. In Cambodia, TC and cash work better than cards and they mainly use USD, Thai baht works too in addition from their local riel.

Answer 9

Take your credit card (Visa or Master works best in Asia), some cash (About 500USD) and your ATM card - they work here as well.

Pay via credit card for places that accept them like resturants, hotels shopping etc. Use the cash when Credit cards are not accepted - like shopping / eating in small stalls giving tips and top up your cash when you are low thru the ATM ... do take out in batches as the bank does charge a trasaction fee on your card for each withdrawal.

Have fun!