Travel Money Maximiser Discussion Area

alared

USA traveller cheques,which you can use just like cash in America and then change some into dollars before you go to Jamaica.
USA dollars widely used in Jamaica.

CoCo_2-2

i am a very lucky person indeed, as i am flying off to sri lanka for two weeks in june. we have been told that we can't take the sri lankan ruppee in and have been advised to convert the pound coins we have saved so hard for months into travellers cheques (still getting my act together with credit cards - so they're not really an option).

my question is ... which would provide the best exchange rate and value for money, travellers cheques in dollars or sterling?

gilfachboy

stay away from the post office for euro's, went in today to get some only got 1.1796 to the £. and they call it commission free. one of the worst rates around. you would be better of buying them on-line and paying the debit card charges of 1.5%.

Hillwalker67

I think it would be useful to check with RBS - I think the only way you get commission free currency is to have one of their fee paying accounts.

eddie6985

i purchased 5000 u.s. dollars in american express travellers cheques in australia when the rate was 1.25 aus dollars to 1 usd.
because i worked the summer in aus while backpacking. now the rate is almost 1 to 1.
i still have some left. on the receipt it says 'here is what your cheques are worth' and shows the value.
is it still possible to redeem the cheques in aus dollars at the rate i bought them at?
i don't know if there is any sort of buy back guarantee.
maybe my maths are bad but it seems like i am losing 1 dollar in every 5.
any help would be much appreciated.
thanks.

redhat

i want to change £1000 for euros to use in spain. i have both nationwide credit and debit cards. will i get a better rate using the debit card atatm's in spain or should i get the euros fron eg post office?

studio_two

Crabman wrote: »

If you take a look at Martin's article on Spending Overseas, you can avoid banks' loading charges every time

That article looks as though it needs an update.

TuftyMatt

Applied for a caxton fx card today via the net and the whole thing took a couple of minutes.

£10 taken off my debit card and my card should arrive in 7 days.

If I could load it today I would get 1.259 euros to the pound which beats the rest by far.

Nytehawk

As at today 3 May 2008 order a minimum of £500 at an exchange rate of £1.2742 from Crown Currency Exchange.com. I usually purchase mine for free delivery in July around this time and get the exchange above or better HTH

jr79

Going to Australia this weekend and my Abbey Zero application has not gone through yet. I have a Barclays Connect Debit, First Direct Maestro, Post Office Credit and Barclaycard Credit Card.

Post Office Credit Card should be cheapest for purchases. From websites looks like withdrawing cash would have the following fees:-
Barclays Connect Debit - 2.75% only if use global alliance cash machine otherwise extra 2% (min £1.50 max £4.50)
First Direct Maestro - 2.75% plus 1.5% (min 1.75)
Post Office Credit - 2.5% (min £1.50) plus interest
Barclaycard Credit - 2.75% plus 2.5% (min £2.50) plus interest

So £100 would cost £2.75, £4.5, £2.50 or £5.25.

That makes Post Office Credit Card cheapest but with credit cards don't you start paying interest on withdrawals immediately so would Barclays Connect Debit be the best option as long as I use there Global Alliance partner Westpac to withdraw the money?

Is there anything else I need to be considering e.g. will Post Office exchange rates be better than Barclays?