To buy or not to buy

charlies_mum

We are off to Florida in three weeks, and I have been keeping an eye on the exchange rate, and need to decide when to buy my USD cash and travellers cheques.

I know no-one can tell me whether to buy now or not, but I can get $1.95 and wonder whether anyone knows of anything about to happen that could affect the exchange rate

Nordictat2

I'm originally from the US and when I see a great deal on the currency... when I go back to visit family etc. I tend to buy some of each (USD & Travellers cheques). It's a great rate right now but how long it will last? I don't know.

alanrowell

When you say $1.95 do you mean that if you hand over £100 you will get $195 or that the exchange rate before charges is $1.95.

Have you worked out what your bank will charge you for foreign withdrawals from an ATM - plus, it being America, what the American bank will charge for using their ATM. Have you also found out what your CC company will charge for using your CC abroad

And why Travellers Cheques - even in America they are becoming less popular and have you considered what fees are associated with them for buying, cashing & getting refunds for unused cheques

charlies_mum

The bank are selling at $1.95, with no commission. This rate applies to cash and travellers cheques.

I always take USD travellers cheques as we use them like cash, I just sign in the shop, and they give me my change in cash. I don't intend to withdraw cash from an ATM, and will be using a new Virgin credit card so that I can get air miles, and then pay it off when I get back.

Don't think there's much chance of me bringing any TCs back, so not worried about the buy-back rate.

Nordictat2

Check out this link regarding Travelers cheques..
http://www.cashmycheques.com/Countrygeneralinfo.asp?CountryName=Florida&CountryID=Cou0000088&RegionName=USA&ChequeType=Visa

They are still WIDELY accepted