Money money money

Sparkles

Hello,

Just wondering how much cash I should carry. Going to SE Asia for six months and was condsidering bringing baht (going to Thailand first), dollars, euros and credit/debit cards. Is this plenty? Whats the norm for withdrawing money-credit or debit card from ATMs?

Thanks,
Sparkles

kraggy

Why are you taking all that? There's no need.

All I did when I was there was take out 200 euro worth of baht or so a week on my ATM card, the same as I would do in Ireland.

Each bank varies but it's usually around 1.5 or 2%. So if you take out your money for the week it shouldn't cost more than 3/4 euro.

I wouldn't go bothering with Traveller's Cheques or credit cards. They're too attractive to thieves. Ideally you should get 2 ATM cards and keep them in separate places on your travels. And try and get ones that have no debit card facitlity on them so that way, if one does get stolen, you don't have to worry about thieves going on a rampage with it and you not being able to cancel it because you're in the jungle or somewhere.

Others will disagree with me but I felt great peace of mind that way when I was travelling.

lady_j

Dollars are incredibly useful in SE Asia, the Cambodian visa for example is cheaper when bought in dollars rather than baht. Dollars are common currency in Cambodia and often in Vietnam and its handy to have some backup money when going for one country to another. When I traveled from Thailand to Laos, I found plenty of atms but I was there five days before I found an atm which actually worked!

I would recommend bringing a credit card, only to be used in an emergency. If you loose your atm card, or there are no working atms then you'll be able to get a cash advance from most travel agents which is very useful if you're stuck and its a weekend/public holiday.

Glowing

If you keep your visa card topped up with cash, then you won't get charged a fee when you make a withdrawal! That's how I survived for a year Didn't bother with travellers cheques or carrying too much cash.

AARRRGH

Glowing wrote: »

If you keep your visa card topped up with cash, then you won't get charged a fee when you make a withdrawal!

The only risk with this is if you credit card is stolen and they use it to buy things, the excess cash (i.e. your top up) is not insured.

youcancallmeal

Glowing wrote: »

If you keep your visa card topped up with cash, then you won't get charged a fee when you make a withdrawal! That's how I survived for a year Didn't bother with travellers cheques or carrying too much cash.

I went into to the bank to see what would be the cheapest/safest thing to do while traveling and they advised this. Also I'm pretty certain your credit card is covered if your card is skimmed/stolen regardless if your in credit or debt? Actually there was thread here on boards not so long ago discussing this, must try and find it...

lady_j

I asked BOI about whether there is still a fee when you're credit card is topped up. There is with them, they went through the then current rates on both credit card and laser card and the laser card worked out cheaper at the time. best to ask.

Its always good to have a credit card IMO, its a safety net. Towards the end of my trip when I was running low in cash, it was a relief to know if I needed to get home asap then I had funds on my card to get me there. Its true if your card got robbed then they could use it, my card was cloned when I was away but the bank but a stop to it immediately without me asking. Actually my card was stopped pretty much in most asian and south american countries, I had to ring them pretty much before I needed to use them to unfreeze the card! Pain in the bum, but at least I know it was safe.

Euro is actually accepted in most SE Asian countries, I was quite surprised. But the green back is seriously invaluable, bring $100 in small enough notes. You won't regret it when you're on an 18 hr bus, starving, with no local currency!

hopalong85

descry wrote: »

I asked BOI about whether there is still a fee when you're credit card is topped up. There is with them, they went through the then current rates on both credit card and laser card and the laser card worked out cheaper at the time. best to ask.

Its always good to have a credit card IMO, its a safety net. Towards the end of my trip when I was running low in cash, it was a relief to know if I needed to get home asap then I had funds on my card to get me there. Its true if your card got robbed then they could use it, my card was cloned when I was away but the bank but a stop to it immediately without me asking. Actually my card was stopped pretty much in most asian and south american countries, I had to ring them pretty much before I needed to use them to unfreeze the card! Pain in the bum, but at least I know it was safe.

Euro is actually accepted in most SE Asian countries, I was quite surprised. But the green back is seriously invaluable, bring $100 in small enough notes. You won't regret it when you're on an 18 hr bus, starving, with no local currency!

op if i was you i'd disregard the last paragraph of this! euro is actually NOT accepted in most south east asian countries. unless by accepted you mean you can exchange it for local currency in an exchange office! us dollars are accepted in some places, it's worth taking some.

what kraggy said is basically good advice, this is what i did. a credit card wouldn't be a bad idea either.

S.M.B.

descry wrote: »

I asked BOI about whether there is still a fee when you're credit card is topped up. There is with them, they went through the then current rates on both credit card and laser card and the laser card worked out cheaper at the time. best to ask.

Its always good to have a credit card IMO, its a safety net. Towards the end of my trip when I was running low in cash, it was a relief to know if I needed to get home asap then I had funds on my card to get me there. Its true if your card got robbed then they could use it, my card was cloned when I was away but the bank but a stop to it immediately without me asking. Actually my card was stopped pretty much in most asian and south american countries, I had to ring them pretty much before I needed to use them to unfreeze the card! Pain in the bum, but at least I know it was safe.

Euro is actually accepted in most SE Asian countries, I was quite surprised. But the green back is seriously invaluable, bring $100 in small enough notes. You won't regret it when you're on an 18 hr bus, starving, with no local currency!

When did you ask BOI if there was a fee when you withdrew with a credit card?

Unless things have changed in the past 3 weeks (which I doubt they have) there is no fee for withdrawing with your BOI credit card. I'd recommend using online banking to keep your CC account topped up as you go along.

The fees that you get charged when withdrawing with you ATM card really do add up in the long run.

I never bothered with dollars but like others said having a $100 in small notes can be helpful.

dory

This is what I did about credits cards etc. Might be useful for someone.

I had three accounts on my internet banking (AIB). Current, Credit Card and Deposit. My deposit account had all the money, and wasn't accessible from either card. So every now and then I'd put some money on my credit, some on my debit and take it out. I felt that was totally safe. And was only charged the odd time I had to use my debit card, credit was free.

Now, whether using internet banking in a cafe is a good idea is another debate. I took the chance and always deleted the history from the computer.

One other thing, credit and debit didn't work everywhere, even though the bank people seem obsessed with convincing us otherwise. Credit card was essential in some places though.

lady_j

S.M.B. wrote: »

When did you ask BOI if there was a fee when you withdrew with a credit card?

It was over a year ago now, when i was planning my trip which is why I said to check the current rates. The staff member was equally surprised to be honest when they went through all the charges but at the time it did work out cheaper to use the laser even when you had cash on the credit card. Its not just the withdrawl fee anyway its the commission charges and currency exchange rates which when I look at my bank statements were far more expensive on the credit card. these things constantly change though so def go through at talk to someone in the bank.

PS I was in Asia 2 months ago and the euro WAS ACCEPTED for booking tours, hostels etc. It wasn't excepted everywhere but it was in a large amount of tourist places

hopalong85

descry wrote: »

It was over a year ago now, when i was planning my trip which is why I said to check the current rates. The staff member was equally surprised to be honest when they went through all the charges but at the time it did work out cheaper to use the laser even when you had cash on the credit card. Its not just the withdrawl fee anyway its the commission charges and currency exchange rates which when I look at my bank statements were far more expensive on the credit card. these things constantly change though so def go through at talk to someone in the bank.

PS I was in Asia 2 months ago and the euro WAS ACCEPTED for booking tours, hostels etc. It wasn't excepted everywhere but it was in a large amount of tourist places

really? i've spent the past two summers in se asia (indo,thailand,laos,cambodia,vietnam,singapore) and i've never heard of or seen anywhere accepting euros. very surprised that you found guesthouses to accept euro. where?!

lady_j

hopalong85 wrote: »

really? i've spent the past two summers in se asia (indo,thailand,laos,cambodia,vietnam,singapore) and i've never heard of or seen anywhere accepting euros. very surprised that you found guesthouses to accept euro. where?!

Vietnam and Cambodia and the islands in Thailand, OP asked if they are accepted and as I said I was surprised they were when i got there as I never saw it accepted anywhere else on my trip. I never said bring them, if you read I suggested bringing some dollars as some emergency cash not euro. But it is accepted in some places and I'm assuming, given the strength of the euro and the amount of European tourists in asia that it will be even more so in the future.

mac123

ATM and credit card are your best bets...you can bring dollars but its silly really as theyre going to be useless to you in most places and euros will be completely useless, your just going to end up having to pay crazy exchange rates when you have to change them. Also if you choose to pay for tours etc with foreign currency your going to get ripped off, its as simple as that! The only exception to that would be Cambodia, as the dollar seems to be the main currency there but again thats the currency you get from the ATMs there so i wouldnt bother bringing any with me.
Another thing with carrying loads of cash is theft, if you have all of your budget with you in cash and you get robbed, well your ****ed...at least you can cancel a card and get a new one...