I posted about this a little while back but we had no end of trouble with travel cheques on Ibiza last year (oppose to it been easy in previous years) as many shops no longer accepted them and only banks and travel agencies would change them with proof and photocopy of your ID, ie passport. Wouldn't use them anymore personally, spoke to one shop owner and he said it was because they had been a large increase in fraud using TC on the island and business owners where worried about them not been honoured when they try to cash them.

hi
we have just returned from ibiza we took sterling travellers cheques and had no probs changing them. we stayed in santa eulalia the hotel we stayed in changed them but only at the rate of 1.34 plos a 2 euro comission charge. We looked around and went into one of the currency exchange places on the main road and to change £250 we would have got 307 euros because they charge so much commission. We then found a large gift shop who would change them at 1.40 with no charge giving us 350 euros after asking the staff in one of the pubs we then found a currency exchange who was offering 1.42 with no charge which gave us 355 euros !!! we used that one. To be honest we didnt use them to buy things in shops as we couldnt see the point just changed them as we wanted to. They all said that there would be a small charge for euro cheques. If i were you i would ask wherever you got them from if it would cost anything to change them to sterling.
Katherine

Most vendors of sterling cheques in the UK charge a small fee for buying them, Euro Cheques are free but as the previous poster pointed out there is often a small chare to cash them. So you get done one way or another. If you are using your bank card there will often be a charge for doing so and you are at the mercy of the bank's exchange rate which may not be as good as the one you would get at Intercash for example. Ditto using credit cards. The only way to avoid charges is to take all cash but having had by bag nicked on the way to the hotel once this is something I would never do again! So you pays your money and you takes your choice! I personally always take Euro cheques now because it means I do the shopping around for a good rate before I leave the UK, not after 3 San Miguels on holiday!

I personally would never recommend Euro Travellers Cheques, as any benefits are usually stacked in favour of those businesses which sell and exchange them, rather than those holidaymakers using them.

Euro Travellers Cheques are generally sold commission free in the UK, but at a rate of exchange which is a few cents lower than what you would find in overseas holiday resorts. So during the purchase transaction alone, you may lose around 3%. Then when you cash them overseas, you may be charged another 2% or 3%, although we have heard of cases of up to 10% being charged.

Sterling Travellers Cheques are sold in the UK usually with a fee of around 1% or 2%, although some places such as Lloyds TSB are currently selling them commission free. In overseas resorts, holidaymakers can usually cash them commission free, taking advantage of the better exchange rates which are available outside the UK.

A few cents and a few per cent here and there may seem negligible, but if you base it on your overall holiday spends for a typical family's two week holiday, then the potential differences between the value of Euro and Sterling Travellers Cheques can be shocking.

It is certainly worth doing some sums in advance, and shopping around for the best deals.

David

In overseas resorts, holidaymakers can usually cash them commission free, taking advantage of the better exchange rates which are available outside the UK.

This is true of most towns in Ibiza but check places out individually as some try to take the mick especially in the smaller resorts and out of banking hours.If you are not sure ask for a written quote of what you will actually receive for a stated amount of money.
It is also worth mentioning that cash rates are usually 2% to 3% lower than the sterling cheque rate and again no commission should be expected,John.

Is it viable to change Euro Cheques at a bank in Ibiza? I will be staying in San Antonio. Usually when I have changed Euro cheques on the continent before I have just done it in the hotel and never had to pay more than 2% but hearing about this 10% that some places charge in Ibiza is horrific! When I was in the USA I was able to change dollar travellers cheques for free at a US bank. Is the same true on Ibiza?