Going to Malta need some advice on currency

Gavin78

I've not been abroad now for about 10 years and a little lost now as to what the best thing to do is as far as currency exchange goes?

Malta use Euro and I have looked around a bit and seen that Thomas cook who we booked with seem to offer one the the best rates at the moment.

If I were to get say £800 in travelers cheques is there an additional charge when changing them to cash when we get abroad or do we get back the same amount (no hidden charges?)

The other thing they offer is like a prepaid card but they charge 2 euro for every transaction made and a £6 fee to change Euro back to £

I was advised by my dad to get £700 exchanged to Euro cheques and keep 100 Euro in cash on us so we have something when we got there?

Would appreciate some advise thanks?

aerostar

Have you not looked at the MSE http://travelmoney.moneysavingexpert.com/ site, and searched the forum ?

Look at the panel on the right, Todays currency rates (06:54 29/7/2011), currently showing best deal for £100 = EUR 113.60 Worst 102.10

dzug1

You may well have difficulty changing travellers cheques in Malta - and you may be charged a fee. For all but a few specialised purposes TCs are obsolete.

A mixture of cash and card usage is the way to go

SaveTheEuro

dzug1 wrote: »

You may well have difficulty changing travellers cheques in Malta - and you may be charged a fee. For all but a few specialised purposes TCs are obsolete.

A mixture of cash and card usage is the way to go

I too would advise against travellers cheques. They are near obsolete.

There is no shortage of cash machines in Malta for withdrawing cash. You'll find the first ones between passport control and luggage collection at the airport, so you don't even need to equip yourself with Euros before leaving.

Some debit (Santander, Norwich and Peterborough and others) and credit cards (Santander, Nationwide....) charge no foreign transaction fees at all. It's worth getting hold of one if you can.