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Amex Travellers Cheque Card

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Ginnser
Ginnser Posts: 77 Forumite
in Credit cards
I will be spending an increasing amount of time in the Euro zone. And although I have numerous credit cards was wondering if anyone has experience of using the Amex Travellers Cheque Card (Euro). It basically replaces travellers cheques and is used like a debit card, you load it up with currency and use the card to spend it. I wont have any major spending in Euros, and was alarmed that my Coop Visa charges 2.75% on each euro transaction.

I understand that Nationwide is the best credit card for use abroad, but have I missed any drawbacks on this Travellers Cheque Card, is there a bit gotcha i have missed?

Any Comments Welcome..... Happy Easter to all.

Ginnser
Smile and be happy, things can usually get worse!

Comments

  • HLK
    HLK Posts: 978 Forumite
    Amex charges 2.73% for the initial conversion from GBP to Euros, and then there is a £1.50 charge per cash withdrawl. This would be in addition to any charge levied by the cash machine provider. So doesn't look too great.

    It is also excluded from the cashback on their Platinum card if you use that to purchase!

    Hope this helps.
    HLK

    "Karma - it's a wonderful thing" - Just ask Earl!
  • Ginnser
    Ginnser Posts: 77 Forumite
    Cheers HLK

    Have taken a closer look and from their T & C's it says

    "the conversion rate we use for initial loads and Reloads is 4% above the Amex Foreign Exchange ("FX") rate for those two currencies at the time of such conversion. For Cards loaded or reloaded at Sellers other than Amex, each Seller may set its own FX conversion rates, which may differ from those used by Amex or by other Sellers. "

    so maybe not a good as I first thought.

    Ahh well its off to the Nationwide website to apply for their card !

    Thanks

    Ginnser
    Smile and be happy, things can usually get worse!
  • student100
    student100 Posts: 1,059 Forumite
    1,000 Posts Combo Breaker
    Yes Nationwide is one of the best cards to use abroad; for anybody who hasn't found it yet Martin has a very thorough discussion in his article here:
    the cheapest way to spend overseas
    student100 hasn't been a student since 2007...
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