Travellers Cheques

i_am_really_rich!!

Do people still buy travellers cheques? If so should I buy euro or sterling cheques? The bank charges 1% for sterling and nothing for euro. I am really confused about this travel money stuff - what is the best option. I bank with natwest so using my debit card abroad is not an option. We go in 2 weeks so not a lot of time to do anything else.

dzug1

I bank with natwest so using my debit card abroad is not an option

Why not? Yes it charges, but so does the bank. It's not 'nothing for euro' - it's 5% hidden in the exchange rate, plus anything you get charged to cash the TCs in resort. If your debit card mounts up to that you are no worse off and it's a lot more convenient.

i_am_really_rich!!

hmm thanks for that. They do know how to bamboozle you these banks. It's just that i have read on here that natwest is the highest charging to use abroad.

dzug1

i_am_really_rich!! wrote: »

hmm thanks for that. They do know how to bamboozle you these banks. It's just that i have read on here that natwest is the highest charging to use abroad.

True - but those charges are roughly the same as getting cash or TCs in the average outlet at home. The Natwest card will give you a good exchange rate but spoil it with charges. The average High Street outlet will claim 'no commission' but spoil it with a lousy exchange rate. At the end of the line there's little difference between the two.

You can reduce the impact of Natwest charges by taking your money out in large sums

You can if you hunt around find better than the average rate here - but it takes a bit of work.

i_am_really_rich!!

:beer: Thanks. that's a help.