American Express Traveler's Checks

[Up2u]

Well last time I worked in the US they still used personal hand written checks to pay their bills over there, but that was back in 2012, wonder if they still do??? As modern as the US can can be in many aspects, they are sooooooooo backwards in others!

You've got that right, I'm halfway around the world and pay my bills online, something that my old sister can't do..... sits down writes personal checks, buys postage stamps, goes to the post office and mails them. Invariably, there's a problem with her or the post office and she incurrs a late fee. Such waste of time and money. On the subject of traveler's checks, the purchasing fee can be 1-4%, but more importantly for me is the time and effort spent buying them.

[windwalker]

Yes,for sure they still use hand written checks. I have friends who are terrified to use online banking and rely on hand written checks.

[neddy3]

I used AMEX travellers cheques until 2-3 years ago.
Old fashioned, I know, but safe and I was comfortable with the minor effort required to cash them.

But suddenly, the Thai banks changed their fee to cash a cheque.
What was 30 B per cheque suddenly was 150 B per cheque.

That is way too much.

But for sure, these cheques are still usable, if that is your choice.

[Gaybutton]

All this, in my opinion, boils down to the same recommendation I have been making for years. Open a Thai bank account. That's not so easy to do anymore for farang, but people say the best chance is Kasikorn Bank, aka K-Bank. You can get online banking to monitor your account and you can also get a debit card which is usable not only anywhere in Thailand, but anywhere in the world.

All you have to do is deposit funds into the account and that's the end of having to worry about ATM fees, fees from your home country bank, travelers check fees, some clerk deciding your signature doesn't match, or whatever.

I don't understand why some people are reluctant to open a Thai bank account, but I can't think of a good reason not to do it. You can open a Thai bank account with an initial deposit of as little as 500 baht. Even if you cash out your account to zero before leaving Thailand, the account will still remain open and active for a full year before the account is disabled or deleted.

And it keeps getting more and more difficult for farang to open a Thai bank account, so do it while you still can. Remember, if one branch turns you down, just try another.

[firecat69]

The comment about signatures matching made me laugh. If you are a scribbler like me , be careful when you open a Thai Bank account to make the signature both legible and easy to repeat.

I had a problem with KBank in a Branch . Had my passport, drivers license , credit cards etc a,d they maintained my signature did not match. Of course they were right because my signature never matches. When you get used to signing with electronic pen or your fingernail on CC machines, where you could sign Mickey Mouse and it would still go through, rarely think about matching. I walked down to another Branch and no problem.

[Daniel]

I spent December 2016/January 2017 in Pattaya. When I arrived, I had some traveller's cheques to cash. I went to the Kasikorn Bank on South Pattaya Road next to Tukcom. I was told that they could not cash my traveller's cheques that day, as they had 'reached their quota'. I walked into Tukcom, where there was an exchange office quoting the traveller's cheque buying rates. Here, I queued, only to be told that despite quoting the rates, they no longer cash them. Third time lucky: Siam Commercial Bank at the rear of Tukcom changed them with no fuss.

So, stkyricesf, there is some validity in your concern, but the Siam Commercial Bank offers a solution.

Most UK debit cards hit you with a non-sterling transaction fee (up to 3.75%) and a non-sterling cash fee, when you use an ATM (up to £5). These fees on top of the 200 baht charged by Thai ATMs, makes withdrawing cash expensive. I thought I'd found the solution by opening a Norwich & Peterborough current account, which charges no fees. So, through my 8-week holiday, I withdrew money from an ATM and monitored the transactions online. I was still charged 200 baht by the Thai ATM, but the exchange rate was good and there were no charges from my bank. When I returned home, there was a letter telling me that Norwich & Peterborough intended to close all current accounts by the end of the year and concentrate on the savings and mortgage provision. Back to square one!

Taking cash or opening a Thai bank account do seem the best options.