How to buy travellers cheques or foreign currency 19 July 2003 at 6:31PM edited 30 November -1 at 1:00AM in Budgeting & Bank Accounts 279 replies 221.4K views

Gaz_2-2

Thanks for the reply

Birdy

Thomas Cook told my hubby they would match any other price he got - and they did (but all it meant was him not having to go all the way back to the place he first started at!). Not sure if the price-match was just for high street or not

System

not all post office branches have euro . I dont expect the smaller sub post offices to keep euro ,
but I know several medium sized branches that dont sell them either .

boblevin

The best deal (apart from using a Nationwide Credit Card in resort) is with Marks and Spencer - selected branches only so check out https://www.Marks & Spencer Money.com. Or if you have a M&S credit card you can purchase over the phone or internet without incurring any fees - and delivery is free.

Juanita_2

I am going to the US. If I take few dollars and pay for purchases on rely on a Nationwide credit card, is that likely to save me money? Sorry, I am just so used to it being drummed into my head to take travellers cheques or cash. Does anyone know the current rate of exchange with Nationwide? I don't want to be stuck out there, relying on a credit card and being burned by a poor exchange rate.

payless

I take a couple of hundred $,and then use my natwide card

has not failed me yet

Juanita_2

On the credit cards comparisons, it says the Nationwide CC has an APR on cash advances of 13.9 - 15.9% even when paid off in full. Does this mean if I withdraw (for example) $100 on my CC then pay it off in full at the end of the month, I will be charged interest? If so, how much?

boblevin

The message seems plain enough but perhaps is not clear to all, so here goes . . . . . If you have a NATIONWIDE CREDIT CARD, this is by far the best way to spend in a another country. Nationwide will give you the wholesale (true) exchange rate applicable at the time the transaction is processed by them (this is not the same as the point of sale), so it is not possible to quote you figures - just be certain that THE RATE WILL BE THE BEST YOU CAN GET. If you would rather have travellers cheques, the best deal is with MARKS & SPENCER. If you would like to take a gamble that the rate is currently much better than is likely to be the case when you travel, you can always buy some travellers cheques or currency from M & S and sit on them, but remember - they do not earn interest. Hope this helps.

Juanita_2

Nationwide will give you the wholesale (true) exchange rate applicable at the time the transaction is processed by them (this is not the same as the point of sale), so it is not possible to quote you figures - just be certain that THE RATE WILL BE THE BEST YOU CAN GET.

Thanks! Does this apply to cash advances as well as purchases? Sorry for being an idiot.

ubiquitious

The bank is the best bet.