USA travel money.. so what's the best method?

Monkhouse · 17 July 2007 at 12:40PM

I've read various threads including this subject, but so far haven't seen much of a definitive answer, if one exists, to the question of the best method for spending in the US.

We're going to California for 15 days in Sept and have a spending money budget of £2000.

So..... Is the best method really just to take my debit card?
Now, before anyone mentions it, I am aware of the Nationwide cards, but don't have an account and don't wish to open one. What I do have is a Barclays Connect Visa Debit card.
I've read that there's no fee with Barclays for foreign withdrawls from Global Alliance partners, in this case - Bank of America. But would I still get the c. $2 exchange rate?

But I'm also thinking that with the exchange rate being so sky high at the moment, I might cash in now and buy travellers cheques - there's every chance that in 2 months time, the inter-bank rate I would get if I used my card over there could be less than I'd get now buying TCs.

So are TCs still widely used / accepted in the US? I've read that they are, but some sites are not exactly up to date!

I will definitely take some cash too for immediate spending, but I'm thinking here of the majority of the money.

So - should I buy TCs now and take those, or simply take my debit card and use that?

Thanks!

seftonsun · 17 July 2007 at 12:43PM

You can generally use TCs like cash throughout the US. Pay by TC and get $ cash as change.

If you think the exchange rate is not likely to improve then cash in now. But it's a bit of a punt.

curtlyb · 17 July 2007 at 12:55PM

seftonsun wrote: »

You can generally use TCs like cash throughout the US. Pay by TC and get $ cash as change.

If you think the exchange rate is not likely to improve then cash in now. But it's a bit of a punt.

as seftonsun has said, TC's are virtually cash, most places don't even ask you to sign them !!!! with that in mind its probably the best way to do it

steveo3002 · 17 July 2007 at 1:22PM

ive never had much luck with travelers checks unless its a mega touristy place..the non tourist areas dont have a clue what they are and its just hassle (plus you look like a **** paying for a can of drink with a $100 cheque )

i use my barclays card to get money at atm , and yes you get the proper exchange rate , i find it suits me as i can just get $300 or at a time and dont have to carry huge amounts of cash or hide it in my room

for any big purchases id take a credit card , then you have some cover on that item if gets lost/broken etc..and you will need a credit card anyway for hotel and car deposit (assuming your getting those)

M4RKM · 17 July 2007 at 1:42PM

personally, i'm a huge fan of cash.. i've found that even in some restaurants in Manhattan they were not keen on travellers cheques..

steveo3002 · 17 July 2007 at 2:00PM

just thought of something else

in most supermarket places like target/walamart etc they will offer cash back on visa purchases , so if everytime you buy something you get $60 cash that keeps you going ...theres no extra charge for the cash back

Monkhouse · 17 July 2007 at 2:09PM

Cheers for the comments so far guys.

I wouldn't be spending the TCs for purchases at all, just converting them as we go along into cash. I've read that I can do this commision free in a lot of places - certainly, hotels (we're staying in big chain hotels) and banks.

The idea of TCs does interest me, as we can then physically see how much we've spent / got left. Yes I know we could write it down if we used a card, but I'd be tempted to overspend the budget this way I think! So I just need to decide whether a debit card is a much better idea, or not!

GlennTheBaker · 17 July 2007 at 2:57PM

Read Martin's guide to spending abroad HERE.

GlennTheBaker · 17 July 2007 at 3:05PM

steveo3002 wrote: »

i use my barclays card to get money at atm , and yes you get the proper exchange rate , i find it suits me as i can just get $300 or at a time and dont have to carry huge amounts of cash or hide it in my room

You may think you're getting the 'proper' exchange rate but what you are in fact getting is a rate which is 'loaded' in Barclays favour by 2.75% AND you are paying a fee for the privilege too (see HERE).

steveo3002 · 17 July 2007 at 3:11PM

^^^ fair enough but its still better than get bent over at the travel agent

are travelers cheques close to the real exh rate? cant imagine they dont get a cut somehow?

GlennTheBaker · 17 July 2007 at 3:12PM

Monkhouse wrote:

So..... Is the best method really just to take my debit card?
Now, before anyone mentions it, I am aware of the Nationwide cards, but don't have an account and don't wish to open one.

Any particular reason why you don't want to open a Nationwide FlexAccount? If you're planning on spending £2000 whilst in the USA, it would save you a minimum of £55 (by getting the absolute best possible exchange rate) as well as not charging you anything for each withdrawal you make.

USA travel money.. so what's the best method?

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