How much will I get for 500 USD travellers cheques?

Layo909

How many pounds will I get back if I cash in 500USD travellers cheques?

Is this simply a case of converting USD to GBP ie £309?

dzug1

Layo909 wrote: »

How many pounds will I get back if I cash in 500USD travellers cheques?

Is this simply a case of converting USD to GBP ie £309?

Yes it's usually a case of simple conversion - but you are not going to get the 1.61 rate in a month of Sundays. More like something in the 1.7x's giving you a maximum of £295 and probably £10 less than that. That is an 8 to 10% fee hidden in the exchange rate

Unless where you bought them offered some sort of buyback guarantee. I think you'd know if you had paid for that

catokelly

Layo909 wrote: »

How many pounds will I get back if I cash in 500USD travellers cheques?

Is this simply a case of converting USD to GBP ie £309?

Go to Martin Lewis's Travelmoneymax tool, on the buyback section it will give you a list of the best rates http://travelmoney.moneysavingexpert.com/buy-back/#results

zagfles

It might be worth asking your bank what rate you get/charges for paying them into your account. Banks usually accept foreign currency cheques (a USD TC is just a foreign currency cheque), but they do usually charge a fee and the rate might not be the best, so it may not be the best deal. Worth finding out though.