normaly take a mix of cash TC and plastic.
this year the bureau is recommending Dollar TC's as they carry no commission.
I realise that they make their profit on the exchange rate they sell them at, but can anyone tell me what kind of rate I will get for US dollars in Goa, and if they are widely accepted, eg at the elephant shop or should I stick to sterling and pay the commission?
Or open a Flex account with Nationwide and pay no commission and no bank charges. 
I dont think i have ever paid commision on t/c,last year i had a mixture of sterling t/c and cash and got same rate on both,the best about sterling t/c if you bring any home you get pound for pound,i dont think dollar is very popular at moment.
Ok Biker , allready got the flex account, just working on belt and braces approach
Poulton kid,
I think that you always pay commission on sterling cheques, else how do they make any money on the deal?
If you buy £100 and get £100 equivalent for them , whats in it for visa etc
with dollars there is no commission but they make their profit by giving a lesser rate than the market price.
as far as cashing any I bring back............... never do
I know dollars are a bit weak at the moment but does anyone know if there is a problem cashing them in goa?
Poulton kid,
I think that you always pay commission on sterling cheques, else how do they make any money on the deal?
If you buy £100 and get £100 equivalent for them , whats in it for visa etc
with dollars there is no commission but they make their profit by giving a lesser rate than the market price.
as far as cashing any I bring back............... never do
I know dollars are a bit weak at the moment but does anyone know if there is a problem cashing them in goa?
Sorry i thought you ment every time you cash a cheque in,yes i do pay comision when i bye them,the notice bourds in goa i have seen always have the dollar rates on it,so dont think you will have a problem,its just at moment the dollar is not very popular but that can change very quikly.
No problem at all del, most of the visitors from other countries use the dollar.
Hi Guys
If you have a Loyds/TSB account and you order them online, then there is no commision to pay, on Sterling cheques. However, if you buy dollar cheques anywhere they will always give you a lower rate than the real exchange rate and then just tell you they are commision free.
HSBC used to give the same service for their customers but now it seems only Lloyds/Tsb are doing the commision free Sterling cheques
and even then only for online booking.
Gaz
If you have a Loyds/TSB account and you order them online, then there is no commision to pay, on Sterling cheques. However, if you buy dollar cheques anywhere they will always give you a lower rate than the real exchange rate and then just tell you they are commision free.
HSBC used to give the same service for their customers but now it seems only Lloyds/Tsb are doing the commision free Sterling cheques
and even then only for online booking.
Gaz
I think first choice TC's are commission free
100.00 GBP = 8,017.58 INR
United Kingdom Pounds India Rupees
100.00 GBP = 203.644 USD
United Kingdom Pounds United States Dollars
203.644 USD = 8,019.50 INR
United States Dollars India Rupees
you get a few more rps. on the $ and no commission paid so you will be £ in
andy
United Kingdom Pounds India Rupees
100.00 GBP = 203.644 USD
United Kingdom Pounds United States Dollars
203.644 USD = 8,019.50 INR
United States Dollars India Rupees
you get a few more rps. on the $ and no commission paid so you will be £ in
andy
excellent reply Andy, thats what i was going to work out, many thanks
Lozza 07, first choice don't do TC's, they sell American Express TC's, (or is it Visa?) and the do charge commission on sterling checks, at least at their holiday hypermarket near where i live.
Lozza 07, first choice don't do TC's, they sell American Express TC's, (or is it Visa?) and the do charge commission on sterling checks, at least at their holiday hypermarket near where i live.
But the Exchange rate at Lloyds TSB is nowhere near 2.03 - you will get 1.9538 and I'm assuming this will be the general exchange rate on the high street - so it no longer looks very attractive to get US TCs - Use Stirling ones or get a NW Flex account
I wil check the exchange rate that the bureau offers and make a decision based on that.
To be honest it only comes down to about £7-8 so it doesn't make much difference.(except i am a Yorkshire tyke!)
Started querying when the bureau started pushing dollar cheques and being a natural cynic bells started ringing.
might finish up just taking cash and the nationwide,,,,,,,,,,, plus visa for her diamonds
To be honest it only comes down to about £7-8 so it doesn't make much difference.(except i am a Yorkshire tyke!)
Started querying when the bureau started pushing dollar cheques and being a natural cynic bells started ringing.
might finish up just taking cash and the nationwide,,,,,,,,,,, plus visa for her diamonds
i have a barclays additions account and i get commission free t/c(sterling)and currency and its delivered by special delivery next day free of charge.and i order it over the phone.having said that i dont think currency rates are that good.
Did you know:
Get commission-free foreign currency and foreign currency travellers cheques. Commission on Sterling travellers cheques is 1.5% (minimum £1.50).
Free home delivery.
No cash handling fee when you buy your currency using a Barclays debit card.
Pay no commission when we buy back foreign currency notes" .
taken from barclays website.
commission free FOREIGN cheques.
unless the account you mention is different.
Get commission-free foreign currency and foreign currency travellers cheques. Commission on Sterling travellers cheques is 1.5% (minimum £1.50).
Free home delivery.
No cash handling fee when you buy your currency using a Barclays debit card.
Pay no commission when we buy back foreign currency notes" .
taken from barclays website.
commission free FOREIGN cheques.
unless the account you mention is different.
del949 the website says you can, but I think it's only if you book with them
See here on the right hand side, where it says foreign exchange:
http://www.firstchoice.co.uk/toppings/
See here on the right hand side, where it says foreign exchange:
http://www.firstchoice.co.uk/toppings/
we bank with lloyds,ordered sterling cheques thursday picked them up in branch yesterday,no commision charged.
Lozza, if you click on the link on the right hans side it clearly states,"currency and foreign TC's
looked at Lloyds/tsb and their page offers Euro and Dollar free of commission, maybe a bit different for existing customers.
can someone explain to me how the bank makes any profit in supplying cheques for free and redeeming them at face value?
I realise that with dollar or euro cheques they make their profit on the exchange rate.
looked at Lloyds/tsb and their page offers Euro and Dollar free of commission, maybe a bit different for existing customers.
can someone explain to me how the bank makes any profit in supplying cheques for free and redeeming them at face value?
I realise that with dollar or euro cheques they make their profit on the exchange rate.
just been surfing the banks and come up with this.
Post office
nat west
halifax
saga
rbs (except some premium accounts)
tsb
thomson
bank of scotland
royal banl of scotland
barclays
tesco
all have big flashy signs saying commission free, but when you read the site properly this applies to foreign currency and non sterling cheques,
sterling generally comes in at 1%-1.5%
lost interest after finding these.
Can anyone, hand on heart, say that they have got £100 sterling traveller cheques for £100 (disregarding c/c charges and delivery)?
unless they have bought a fistfull of rps at a really poor rate to allow the bank to make its money.
Post office
nat west
halifax
saga
rbs (except some premium accounts)
tsb
thomson
bank of scotland
royal banl of scotland
barclays
tesco
all have big flashy signs saying commission free, but when you read the site properly this applies to foreign currency and non sterling cheques,
sterling generally comes in at 1%-1.5%
lost interest after finding these.
Can anyone, hand on heart, say that they have got £100 sterling traveller cheques for £100 (disregarding c/c charges and delivery)?
unless they have bought a fistfull of rps at a really poor rate to allow the bank to make its money.
yes with the additions account this costs 14.50 per month for which you get commission free sterling t/c,foreign currency,foreign t/c,all delivered free,full rac breakdown,worldwide travel insurance,will making,etc.etc.etc. this may sound a lot a month but i have called rac three times this year,once to get off motorway which itself costs £150,had three holidays , 2 long haul,and ordered currency and t/c each time- well had my money back !
Del949
"Can anyone, hand on heart, say that they have got £100 sterling traveller cheques for £100 (disregarding c/c charges and delivery)?"
Yes
Lloyds/Tsb booked online pick up in local branch.
No commision, no charges, no problems
But only if you have an account with them.
I don,t pay for my cheque account either so definately no charge.
Haven,t tried it by phone, only ever done it online.
Gaz
"Can anyone, hand on heart, say that they have got £100 sterling traveller cheques for £100 (disregarding c/c charges and delivery)?"
Yes
Lloyds/Tsb booked online pick up in local branch.
No commision, no charges, no problems
But only if you have an account with them.
I don,t pay for my cheque account either so definately no charge.
Haven,t tried it by phone, only ever done it online.
Gaz
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