Greece - Crete Discussion Forums

Discussions regarding holidays in Crete.
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where they don't charge a fee for issue
fallacy!!!!!

when you purchase T/C's you pay to get them and pay to cash them, it could be in one of two way , either a lower exchange rate or an admin charge....

we came back from Greece last Friday , we took 120 evro each plus sterling cash and both debit and credit cards, if using for purchases the Greek banks charge a handling fee IRRESPECTIVE of whose card,
our bank gave us interbank rate for withdrawing cash less a £2.00 fee

wizard
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OK, ok, so perhaps my statement of places not charging to issue TC's wasn't quite right -
But my question is : Is it still cheaper to get TCs (And pay whatever associated charges at purchase and when cashing) OR take euros out of an ATM in which ever resort you're in with a debit card, and have your bank charge a fee???
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I travel in euroland every couple of weeks, sometimes including Greece. I also visit Crete each year on vacation. My rule is simple: do in euroland as in england. i haven't carried or even used a cheque book in England for years....last century maybe! I always carry around £150 worth of cash in my wallet (whether sterling or euros). It makes no difference if I'm out of the UK. This is backed up by a debit card for cash machines and a credit card. You don't pay interest on a credit card if you settle up each month. It's effectively an interest free loan.
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Lizzy

If you can set yourself up a Nationwide current account before you go they are the only bank who don't charge you for making purchases abroad or using an ATM. You need the Flex account. You also get the commercial rate of exchange which is usually very good.

We just take an initial supply of Euro, some emergency sterling and then give the Nationwide card a bashing!
Enjoy your hols.
Yiamass,
Jean
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If you take amex cheques and cash them at a partner bank, these are listed on line, the cheques are cashed free of any charge.

I always have Nationwide cards as this also saves money too. I also understand the Post Office credit card is also free of charges.
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If you can set yourself up a Nationwide current account before you go they are the only bank who don't charge you for making purchases abroad


HOWEVER you will still be charged 2/3% at point of purchase in Greece this is a charge made by ALL banks to their coustomers and so the [bank customers] shops will load this onto the final purchase total... to you

wizard
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Hi Wizard

I'm afraid you've lost me. So where does this 2/3% charge appear then? Do you mean it's factored in to all the prices the shops display?

On our Nationwide statement we always receive 2 or 3 cents better exchange rate than advertised by people doing exchange in resort. No charges are shown on the statement.

Yiamass, Jean
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yes after you have made your selections and the bill is calculated the shop will add the banking charges before completing the bill and swipping your card

i used my mastercard this year i got interbank rate [around 5% better than tourest rates] and a 2.5% charge for conversion so i still ended up a bit better than cash exchange, add to this 1 months free credit and that makes me a winner as i have never paid credit card charges

wiz
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Wizard

Thanks for the explanation. I'll look out for that.

Jean
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