Travellers cheques - will credit card charge?

gord_3

I'm getting my Sterling travellers cheques from the Halifax at only 1% commission.But what I want to know is if I pay for them with my credit card will it be charged as a normal transaction or as a cash advance.The reason I want to pay on my credit card is because I get 1% cash back so I'll be in effect getting my trav cheques commission free.

grumbler

' Non-sterling transactions (including the purchase of foreign currency and travellers cheques) 2.75% of the amount of the transaction '
This is tipical for most of credit cards. Check yours.
You will be amazed, but most of debit cards also charge you for this. See my post #49 HERE. Check yours and, possibly, pay cash instead.

gord_3

Thanks I'll use cash.

Cardew

Why use travellers cheques at all? why not use credit/debit cards abroad?

see http://forums.moneysavingexpert.com/showthread.html?t=54846

pin

There are actually a few places where I found it easier to use TC's than credit / debit cards, but those places were few and far between. Two of these countries were Laos and Cambodia. Apart from that debit / credit cards pretty much everywhere else in the world have been fine.

jonesMUFCforever

Why pay commission with Halifax?
LTSB will do them commission free but you have to give 24 hours notice in most branches.
Good advice about credit card - payment for travellers cheques ( or cash) is classified as a cash advance.
Eric

gord_3

ejones999 wrote:

Why pay commission with Halifax?
LTSB will do them commission free but you have to give 24 hours notice in most branches.
Good advice about credit card - payment for travellers cheques ( or cash) is classified as a cash advance.
Eric

Yeah but is it commision free for STERLING travellers cheques, the website mentions foreign but not sterling....

jonesMUFCforever

gord wrote:

I'm getting my Sterling travellers cheques from the Halifax at only 1% commission.But what I want to know is if I pay for them with my credit card will it be charged as a normal transaction or as a cash advance.The reason I want to pay on my credit card is because I get 1% cash back so I'll be in effect getting my trav cheques commission free.

Sorry the original poster said that they were being charged 1% commission at the Halifax.
And yes LTSB travellers cheques in sterling are free of commission.
Eric

kingofherts

I can't beleive anyone will do sterling TC's commission free, there is no point as they wont make any money, when i worked in FE we were encouraged to sell as few sterling cheques as possible as they only made the 1% comission

gord_3

ejones999 wrote:

Why pay commission with Halifax?
LTSB will do them commission free but you have to give 24 hours notice in most branches.
Good advice about credit card - payment for travellers cheques ( or cash) is classified as a cash advance.
Eric

Went in today and was told only commision free for existing customers which unfortunately I am not.Never mind.....

jonesMUFCforever

I suggest that you go in and ask for one of their 'Travel Money' leaflets usually found in a carousel in the banking hall and plonk it in front of them where it says that all currency and all sterling (at least) travellers cheques are free of commission.
The only problem I can think of that you might have had is, that if you are a non customer then take id and address confirmation in case they think you are money laundering.
Eric