Why Currency Cards Are The Best Way For Travellers Wanting To Buy Thai Baht
If you're planning to travel from Britain to Thailand or in fact any other country, you will need to ensure that you have sufficient foreign currency for your visit. To buy Thai Baht is often problematic in the UK. Not all exchange offices have this currency in stock, and you might have to face long queues in one of the larger branches.
No matter which exchange office you use, they will quote you a Thai Baht exchange rate. Unless you know the market well, you won't even know if it's a good rate or not. On top of that you'll also have to pay a transaction fee. This can become a sizeable percentage of the amount you exchange, especially if you are not exchanging a substantial amount.
Fortunately one can go about this differently. If you rather get a currency card before you leave, you won't just get a better exchange rate, you also won't have to pay the transaction fee of a normal exchange transaction. Just explain to the assistant how much you need in Baht and she will calculate the exact amount in British Pounds you have to pay in. The card will then be loaded with the applicable amount in Thai Baht.
That also means you're protecting yourself against exchange rate fluctuations. Since the amount that is transferred to your card will already be in Thai Baht, this amount can never vary. If you use an ordinary debit card, the exchange rate is only calculated the moment you make the actual purchase or withdrawal. You will also have to pay a substantial foreign withdrawal fee.
Your currency card can be used at most ATMs in over 160 countries. You won't have to stand in line to exchange money every few days or become the victim of a con artist if you exchange money on the street. You also get currency cards which you can use to in shops, hotels and restaurants like any credit card.
When it comes to security, a currency card is also a better option than cash or a debit/credit card. Since the card is not linked to your bank account, if somebody steals it he can't access money in your personal accounts. A word of warning: you should never write the PIN number of your card on the card or on a piece of paper in your wallet - that makes it very easy for thieves to get access to your money.
Next time you therefore need to buy Thai Baht, think twice about your options. A currency card is the more convenient, more secure option. You also save on transaction fees and you will get the best possible exchange rate.
Article Source: FxTradingStock.com
About the Author
I would always suggest checking out where to Convert GBP to THB
by: Joseph Baker
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Date: Sat, 22 Jan 2011
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