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commission for cashing travellers cheques ??

brisbane
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524 posts
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commission for cashing travellers cheques ??

can anyone help..whats the fee for cashing travellers cheques and is it per cheque or per transaction (say 5 cheques) ?? Any chance of fee free cashing in Patong for Am Ex ?? Thanks in advance....Mike

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1. Re: commission for cashing travellers cheques ??

At banks and official exchanges: no fees for cashing, that is included in the price you paid for them already.

melbourne
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2. Re: commission for cashing travellers cheques ??

Hi Mike.

Last year we were consistently charged 30 baht per cheque at mainly Siam Commercial Bank money exchange booths.

When I cashed 5 at a time the charge was 150 baht.

The exchange rate for Travellers Cheques is slightly higher than cash so with larger denomination cheques the charge evened out.

Earlier this year we only took cash and this trip we are taking cash too- more for convenience.

Hope this helps.

Nat

brisbane
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3. Re: commission for cashing travellers cheques ??

Thanks Nat ..I thought I remembered the 30 baht figure.

Still cheaper than Visa Debit. All Visa debit cards charge about $5 at the Thai ATM...$5 in Australia and a 2 percent conversion fee..It cost about $14.70 per transaction.

I'm wondreing if Am Ex have a fee free office in Patong? Anybody know..? Mike

Phuket, Thailand
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4. Re: commission for cashing travellers cheques ??

I thought it was supposed to be free? Obviously not, so please ignore my earlier post.

australia
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5. Re: commission for cashing travellers cheques ??

Mike we were in Krabi this year and it had gone up 33bht but because you do get a slightly higher exchange rate it fairly evens out if cashing big cheques. Remember you can purchase commision free cheques through Australia Post but you can't ask for certain denomiations you take what they give. If you have any leftover there is a charge of $7 to bank at most banks but when you consider paying commision when you purchase through bank you are still in front and most of us spend it all anyway. Beryl

melbourne
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6. Re: commission for cashing travellers cheques ??

Hi again.

We obtained our American Express Traveller's Cheques from Australia Post. There wasn't any charge for this service/fee free but they gave a predetermined combination of denominations- 100's, 50's and maybe even 20's. We couldn't request $100's only.

When cashing the 100's the 30 baht fee was un-noticable, but when cashing the lower amounts we ended up with a bit less than with currency and the small cheques were a nuisance to keep records for and pay the 30 for every cheque.

I don't know of any Amex offices there and didn't look for one either.

Nat

Bangkok
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7. Re: commission for cashing travellers cheques ??

Hi,

It's important to differentiate between the STAMP TAX of THB33 per check levied by the Thai government on ALL traveler checks cashing in the Kingdom.. and a COMMISSION (if any) that is imposed by the exchanging bank/business.. The forEx location cannot "waive" the stamp tax- there is no allowance for such, however, commissions are- to a large extent- business controlled fees and can be variable and negotiable depending on circumstance.

Obviously, your best bet is a ForEx location that imposes no commissions for exchanging TC's *and* also has a competitive rate for their exchange into baht.

Travel Safe,

brisbane
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524 posts
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8. Re: commission for cashing travellers cheques ??

Thanks all...and beryl..I'm told by Am Ex you can order on their web site (In Australia for me) and there's no commission.

Luang Prabang, Laos
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9. Re: commission for cashing travellers cheques ??

Hmm, not 100% positive since I haven't cashed any TCs in a while, but I thought it was a charge of 30bahts per check and a stamp fee of 3 bahts per check regardless of denomination.

brisbane
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10. Re: commission for cashing travellers cheques ??

Thanks all and Gopbi...sounds like you know the facts..Ta..