Currency exchange while traveling: why do some still carry wads of cash? (page 12 of 28)

So I guess I'm not in the know... which bank do you use? I don’t know of any bank that doesn’t charge fees for withdrawals abroad!

Hi Snakeyes,

With online banks, you’ve got N26 or MaFrenchBank, among others. Check out the earlier posts where someone shared a comparison of online banks.

Personally, I use Fortuneo. But there are others.

A link earlier in the discussion gives some leads.

The same link shows a fee of 220 baht per withdrawal for a possible amount of 30,000 baht.

That’s 0.73%.

Seems pretty negligible to me.

Which bank charges 400 baht?

For many of us, paying or getting paid under the table is sometimes a way to escape financial difficulties.

As for the real schemers in white collars, they don’t hesitate to maintain a lifestyle fueled by dirty money.

They steal, so I steal—quite the political platform...

The proportions just aren't the same. Neither are the needs or the reasons, for that matter. So much so that in one case, you can really talk about theft. In the second case, it's an inevitable consequence of the first.

Still, a craftsman or shopkeeper struggling to make a living because the little they manage to earn is taken away immediately—and who, as a result, resorts to working a few extra hours or charging for certain services under the table—can't be put on the same level as those who scheme millions (if not more) and face no consequences!

We're definitely not living on the same planet...

We’re definitely not living on the same planet...

Right now, I’m living in Argentina. Corruption is widespread at every level of society (though there are worse places in South America). At the highest levels of government, no matter the political side, they stash millions of dollars because in pesos, it’s just not worth it. Big companies stash millions of dollars abroad because keeping it inside the country isn’t worth it. Small business owners, collectively, stash millions of dollars under the mattress. I know some civil servants—low-level ones, not the big shots—who barely show up to work and still get paid. It’s shocking how many people want to pay a small tradesperson with a proper invoice. Every player in the economy, big or small, in restaurants, at markets, in kiosks, has a payment terminal, and phone-to-phone payments are common. But everyone pushes for cash payments. It’s even posted in shops, hotels, restaurants, and supermarkets: so much by card, 20% off in cash. It’s said that 40% of the economy is underground.

So, which came first—the chicken or the egg? Honestly, I don’t know.

But the country has become economically ungovernable...

When I was in France, I was self-employed, and there’s no easier status for quietly working off the books.

I’m one of the few suckers who always declared my turnover down to the last cent, even when paid in cash. And that doesn’t stop me from thinking it’s outrageous to see multinationals practicing such high levels of tax evasion.

Once again, stealing because they steal doesn’t seem like a solution—it’s the fastest path to populism...

If taxes were distributed more fairly and equitably... If salaries were paid what they’re truly worth... If the cost of living were cheaper and less unequal...

Then working under the table as a self-employed worker, artisan, or shopkeeper probably wouldn’t be necessary, and the world would spin the right way. But since that’s clearly not on the agenda, I find it out of place to lecture those who are just trying to get by.

...I find it inappropriate to moralize those who are just trying to get by.

I’m not moralizing—I’m sharing my point of view, just like you’re sharing yours, which I also find inappropriate!

I’m just trying to get by too...

Alright, I get it. So, I guess we’ll just have to agree to disagree on this one...

Good evening

"No problem finding an ATM if you know how to use Maps.me or similar." I’ve been traveling for several years now, and while the number of ATMs has increased in many countries, they’re usually located in tourist areas. During my last two trips to Northern Vietnam and Northern Laos, I often went 10–15 days without an ATM within 30 or 40 km. Sometimes, in the far north of Vietnam, they wouldn’t even accept the national currency and preferred Chinese Yuan. I’m one of those people who travels with cash and exchanges it at jewelry stores or other places that offer better rates than ATMs or banks (especially in Southeast Asia). Exchange rules vary by country, though. To each their own! Eric

You're right—it's 200-250 baht per ATM withdrawal in Thailand, fees from the Thai bank. But then you still have the French bank fees, which are usually even higher.

Plus, cash can be exchanged everywhere. It's easy to get a great rate if you know the right banks or exchange offices.

Bottom line: for me, plastic still doesn’t work as well as bills.

I put them in a special plastic pouch that goes in the shower, underwater, in the sea—you can even wear it while diving. Zero risk :)

I put them in a special plastic pouch that goes in the shower, under water, in the sea—you can even wear it while diving. Zero risk :)

I’ve never tried it myself, but I can say that at equal humidity, dollars hold up better than francs! 😏 (jungle experience in Colombia). With euros, I don’t know, but I’d rather leave them at my hotel or with my hosts than take them diving!

then you still have the fees from the French bank, which are usually even higher.

Uhhh... Are you sure you read the topic?

There are no fees. It’s over. Just open an account with one of the banks that offers this service and forget about the ones that don’t for your trips.

I’m one of the rare idiots who’s always declared my earnings down to the last cent

Don’t worry. You’re not alone.

Tax dodgers aren’t the majority yet.

When that day comes, France will become Argentina.

If wages were paid what they’re truly worth... If the cost of living were cheaper and less unequal...

If wages were higher, the cost of living would be too...

During my last two trips to Northern Vietnam and Northern Laos, I often stayed for periods of 10/15 days without an ATM within 30 or 40 km.

Yes. But before reaching those remote areas, didn’t you pass through less isolated places with Dab?

When I go to a remote spot, I make sure to withdraw the money I’ll need beforehand.

If salaries were higher, the cost of living would be too...

All the more reason to distribute taxes more fairly than they are today. And then we’re surprised that some people can’t make ends meet in our country...

Oh? Which bank, for example, charges no commission or foreign exchange fees abroad?

Reread the thread and you’ll find the info...