ATM's, Traveler's Checks, Cash?  How to get the best exchange rate and avoid fees in Khao Lak?

People often wonder the best way to handle their finances when visiting Khao Lak and Thailand.  Everyone has a preferred method, sometimes firmly held against all reason.

The banks in Thailand (and Khao Lak) will give you the same exchange rate at the airports as they will anywhere else - they will be consistent across their branches.  Of course, hotels and private money changers will usually give you a significantly less advantageous exchange rate as they don't typically exchange large amounts of money daily and must absorb greater risk.  But, generally, you can expect a fair shake from a bank's foreign exchange booths - even at an airport. 

Count your Thai money carefully and in front of the clerk, keep the money on the counter where it is visible to the cameras that all banks have.  Don't feel that you must move over for the next customer just because you are handed your money. The transaction is not complete until you carefully count your money - just as the clerk did.  It is not typical, but not uncommon to be shorted by a clerk hoping the stack of money you receive will prove too daunting to count - by what she or he hopes is a very tired and jet-lagged foreigner.

For most people, their ATM card will give them the most advantageous exchange rates and if you take out larger amounts of cash each time you will minimize the fees charged by your bank.  ATMs are almost everywhere and only rarely out of order.  Tourist destinations will always have ATMs in handy locations, while in some rural small towns you'll have to find them at their respective banks.

Traveler's checks are becoming relics of the past and are actually a bit of a nuisance.  The larger denominations people typically carry are difficult for smaller businesses to cash and many smaller businesses don't cash them anyway.  They are quite useful, however, if you are unsure of your ATM card or if you are transporting large amounts for the purpose of resettling in Thailand. 

Thailand and Khao Lak are safer than most Western countries and you have less to fear about robbery.  That said, use the same common sense you would use back home, be safe and use the lock boxes provided by most hotels and always be aware of your wallet.