Many readers often ask me where is the best place to change their money during a travel to a given country. Because it is dangerous to carry large amounts of cash or even travelers cheques, I do not recommend it.
Instead, it is much safer and easier to use the ATM machines that you can easily find in all places of the world, even on remote idyllic islands. Using an ATM machine in a foreign country will usually cost you a small fee, so you are advised to contact with your bank and ask what that fee is, because some banks may not charge if you use an ATM at a bank belonging to its own network. For instance, certain accounts at HSBC in Hong Kong won’t charge you with any fee as long as the machine you are withdrawing money from is member of HSBC, even if it is in another country.
When using an ATM machine in a different country the money will be withdrawn in the local currency and the exchange rate is frequently even better than the rates you would get from a local bank or typical currency exchange shop.
However, there are certain restrictions to using ATM machines, and every bank will have its own regulations and rules. For instance in Thailand you are allowed to only withdraw a limited amount of cash from most machines at any one time. This amount is typically around 20,000 Baht or so. There may also be restrictions on the amount you can withdraw from your own bank in your home country so again contacting with them helps.
It should be obvious that the same safety measures you use at home, such as checking nobody is standing too close when you enter the PIN number, or checking that the machine or card slot has not been fiddled with, applies regardless of the country you are using the ATM in.