traveller's cheques

helsinki_2

This may well be a question that has been asked many times already, but I couldn't find any examples on the forum...
Anyway, I'd like some advice about traveller's cheques.
I'm planning a 2 month trip to the US and want to know the best way to take money. Should I take TCs - will I be charged to cash them there? If I use plastic, is there a card that's best? - I've seen Nationwide Flexi account mentioned.
If TCs are a good idea I want to buy them soon before the dollar strengthens, so any advice would be gratefully received.
Thank you
Hel

lynzpower

ID also be interested in this, the more info the better

Im not too sure about the nationwide account, seen it mentioned a lot, but not too sure what the point of it is

Backbiter

I think TCs are ideal for the US. They are commission-free to buy (well, they were last time I got some dollar cheques), you sometimes get a better rate than cash (I did last time, via Thomson/ TUI travel agency), you can spend them like cash in the US with zero charges, and you're covered if you lose them.

dzug

lynzpower wrote: »

ID also be interested in this, the more info the better

Im not too sure about the nationwide account, seen it mentioned a lot, but not too sure what the point of it is

Simply no charges on overseas transactions, hidden or otherwise.

dzug

Backbiter wrote: »

I think TCs are ideal for the US. They are commission-free to buy (well, they were last time I got some dollar cheques), you sometimes get a better rate than cash (I did last time, via Thomson/ TUI travel agency), you can spend them like cash in the US with zero charges, and you're covered if you lose them.

The only advantage is that you are covered if you lose them.

They may be 'commission-free' but they are not charge free - you probably lost about 5% on the exchange rate buying them - and at least the same again changing back if you had any left.

greyteam1959

Open a Nationwide Flex Account and you get a debit card.
You use this card in a cash machine in any country and you get cash out of your account with NO CHARGES AT ALL.
Get a Nationwide Visa credit card and use this abroad and you will not have any exchange rate loading ( most charge 2 or 3 % ) on your transactions.
Simple.........
Travellers cheques are expensive and a waste of time....unless of of course you are going to Outer Mongolia....

lynzpower

Travellers cheques are expensive and a waste of time....unless of of course you are going to Outer Mongolia....

Actually there are rather a lot of places where ATMs are simply not available. We came back from Malawi in October, and there were only about 5 ATMs in the whole country we heard!! Likewise I got lumbered in Cuba a few years ago for the same thing.

Will certainly look into the flex account thanks for all the advice...