Travellers Cheques which should I buy???

benny2008

Hi

I'm going to Thailand next week, I need to get some currency and travellers cheques.

Please can someone tell me:

1. Should I buy cheques or the american express travel money card?
2. Should I buy dollars or poinds cheques? (i.e. which would get me the most thai baht?)

Thanks in advance!

Ben

dmg24

Do you not have a debit card that you could take? You are likely to get as good a rate as using travellers cheques, particularly if you bank with Nationwide?

p00pieb0tt0m

The American Express travel money card has experienced difficulties and has been dropped by Thomas Cook because of them i.e. it isn't widely accepted.

The visa electron travel money card which Thomas Cook have moved to and the Post Office have done for a couple of years is accepted in many more places, however, is not available in Thai Baht so will incur as many fees as 'unsuitable' debit/credit cards.

When deciding on US or Sterling Travellers Cheques, ask yourself 'Will I be able to figure out how much I'm actually spending if I've exchanged from Sterling through US dollars to Thai Baht?' If the answer is that you'll have no idea then buy Sterling Cheques. If you will be able to work it out then I'm not sure which will be better (which will get you the most Thai Baht).

Another thing to think about is any money you may be taking as 'emergency' money. I would say change this into Sterling Travellers Cheques. For example if you are taking £200 as emergency money. If you don't spend it, bringing it back as Sterling TC would cost just £3(1.5% commission) but bringing it back as US TC would cost at least £10(difference between sell and buy rates).