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I have no idea why people still use TCs use a prepaid credit card, or a check card. I only used the 2 times selling them is a pain if you get a new teller at a bank and many shops wont take them. The cards pop them in to a bank ATM and you have that nation cash, sell the rest at the border ever try to sell a TC at the border I got sum funny looks.
And the US $ looks to still be sliding. Some times I want to do bad things to my "leaders" |
Travelers Cheques are coming in for some bad reviews here. I don’t mind at all, but keep an open mind, in some situations they can work out good value. You need to look at the options and some research to find out what works in the places you are traveling to.
On a recent trip to New Zealand we wanted to buy a motor home and motorcycle and TC worked out a good way of taking a large sum. In NZ & OZ the banks offer a better exchange rate for TC over cash. The down side to this is TC can cost 0.5% commission to buy. If you can get them without paying commission (See 1st post) and a better exchange rate when you cash them you win win. TC used to get a better exchange rate in europe as well, I don't know if this still the case. Xanders tip about the post office debit card has some good points, may add it to our armory. Limited risk, low cost and it should not suffer from being cancelled for unusual transactions like a credit card or debit card. Steve |
A very useful thread
Quote:
I have just checked the link in your first post for Crown currency: all rates over the next year show a rise in the value of the £ from its' present, low, position. However, there is nothing as good as the rate at which you forward bought. $2.01US is about the best on offer in the whole of 2008. Good travels with the extra cash! |
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