$£ exchange rate ( if you're going soon )

[rob@rar.org.uk]

Or a lot higher...

And you'll be earning interest on your holiday money in your bank account rather than having cash/TCs sitting in a drawer at home.

Regards

Rob

 

[neilybealy]

true

 

[Kenbar]

Hi neil

No one knows if the rate will go up or down. Rob is correct. The rate is far better on a credit card because you get the business rate not the tourist rate which could be 5 cents more. But to compare like with like you would have to compare on the same day. I'm confused now!!
If you think the rate will go down more than 5 cents before you travel - change money now. if you don't think so - use credit card when you're there.
HOWEVER Not everyone has enough credit on their card to finance the whole trip particularly if you have an outstanding balance before you fly.

Also Rob. I could be wrong but I think you get a slightly better deal buying chex over cash.

Ken

 

[rob@rar.org.uk]

Originally posted by Kenbar

Also Rob. I could be wrong but I think you get a slightly better deal buying chex over cash.

Ken

You might be right Ken becuase I stopped using TCs several years ago. At the time it was the case that TCs cost me more than cash, but that may have changed now. From the bank's point of view there is more administration involved in TCs: cash is a once-only transaction (when the customer buys them), but with TCs they will have to sell them to the customer AND convert them in to cash when the retailer deposits them in an account. This may lead to higher charges for buying TCs reflecting the true costs.

Regards

Rob

 

[Tony Bush]

Neil,

We took Dollar traveller cheques with us instead of sterling. You can use them as cash - no hassle trying to change them up.

Tony

 

[neilybealy]

cheers for the advice

 

[Boo Boo Too]

We have given up using travellers cheques and now use cash (brought with us) and credit/debit cards. If we run low on cash, then we use are LloydsTSB VISA debit cards to remove cash from ATMs. There are loads around (especially if you have a car) and they have a cursory $1.50 charge fir use (okay if you take $150 or so out at a time).

Saves caring too much cash around (the reason why most people use travellers cheques).

Boo

 

[neilybealy]

nationwide do not charge for using atms abroad

 

[Boo Boo Too]

I don't believe that Lloyds does either. The $1.50 charge is the service change from the local bank/atm company (nothing to do with your own bank) - it seems fairly standard over there.

Boo