little legs wrote:

anyone got a good rate these days

Think I might wait and see if the rate at crown currency exchange

currently Euro rate for July is £1 = €1.1325, hoping if I leave until May/June I can get a rate of £1 = €1.1525

Im off to the usa in 3 weeks and cant decide on cash or travellers cheques. Ive never used travellers cheques before so am not in touch with how they work, can you exchange them for cash at any hotel/bank? What about exchange rates changing them in the usa? Ive heard they are becoming a bit of a thing of the past so im a bit confused here, can anyone offer any advice please? I would be most grateful cheers. Im travelling with thomas cook and have been reading about their cash passport cards where you can pre load the card for spending abroad, this sounds a good idea anybody ever used this method?

Hi Colin
Haven't been to the US for 3 years so perhaps my advice may be a bit out of date! No need to exchange for cash in hotel/bank like you do in other countries, in USA travellers cheques are used like cash - for example, your restaurant bill is $35, you sign a $50 travellers cheque and they give your change back in cash. No need to show passport or anything. Same in shops/supermarkets/hotels etc. Personally found them quite convenient and saved carrying alot of cash around. Haven't used one of the cash passport cards personally but it sounds like a good idea. Hope this helps and have a good time - where in USA are you off to?

Hi Kimi
Thanks for the reply, if you can use the cheques like that it seems a good way of carrying your money, im having a week in las vegas and a week in san francisco, thanks again.

I haven't used TC's in Europe for about 20 years, but always take them to the US and top up by withdrawing cash from the ATM's.

You sign each cheque once when you receive it then sign it again when you use/cash it. As has been said, you can use them like cash and get change in cash or, in Vegas, you can cash them at the cashier's cage in any casino.

I only used a cash passport card once and didn't like it. There was a fee each time you used it and it was really hard to keep track of how much was still on it despite keeping all the receipts.

For the US make sure you take $ TC's and not sterling.

luci

Enquiring about travellers cheques on moneysupermarket.com seems to suggest they arent good value due to charges incurred and exchange rates???

That may or may not be the case as far as the US is concerned. But I think it very much depends on where you are buying them, which currency you are buying them in, and which country or resort you are cashing them in.

For example, I would say that Euro Travellers Cheques are a bad buy, because of the poor exchange rates at point of sale, the commission charges when cashing them overseas, and the ridiculous buy back rates if you have any unused after the holiday.

But Sterling Travellers Cheques can still be bought at very low or no commission rates, cashed overseas commission free, and bought back at face value. I would say they are still a good buy for anyone who is reluctant to use plastic, such as the highly popular Nationwide Flex account, or for anyone who wants back up in case the ATM swallows their card and leaves them stranded on holiday with no funds.

David

I suppose its a swings and roundabouts situation as a whole, there always appears to be some sort of charge weather that be the £1.50 charge on each ATM transaction plus exchange charge of about 2.5%, buy back charges etc. Im tending to now go for exchanging a certain amount for cash then using the ATM for one or possibly two top ups whilst abroad.

At last exchange rate today --£1 is now 1.11 euros. Hope things are beginning to get better.

travelex today is 1.10

topped up my fairfx euro card this morning at 1.1200 as EUR/GBP hit 3 month low yesterday, this GBP rally could continue but I don't see much upside in the short term (1.15/1.16 perhaps) and and I'm happier knowing I've got my € locked in at 1.12 than risking seeing it back down at 1.04/1.05.
However, i only bought the €'s i need for my June holiday, I am still hopeful of a better rate by August

think i will get mine here before the budget. anyone had any from here before?

http://www.travelmoneyservices.co.uk/content/euros.asp

not used them but look like similar set up to http://www.crowncurrencyexchange.com/ who get very good reviews... i'd definately consider them cos it is a good rate but I just don't like carrying too much cash and i won't use travellers cheques because of the commission to cash them. Now...if either of these two (TMS or crown currency) could do those forward contracts on a card

Phildo, are you talking about dollars or euros? If you get dollar TC's there is no commission for cashing them, however unfortunately there is for euro TC's.

luci

It is Euros, Luci. That's why I prefer the card, fixed fee of €1.50 for cash withdrawals so I draw €300 every few days, works out at 0.5% commission rather than the 2% or so that I used to be charged for travellers cheques!

Also, I've been going to Dublin on business for a few days each month this year, so it's really handy to have a € denominated card anyway

hi, if we run out of sterling and bulgarian cash are credit cards acceptable anywhere? i read somewhere that credit cards are not accepted.

bluejohncharles, you may get a better response if you post this in the Bulgaria forum as I'm sure some of our experts there will be able to advise.

luci

thanks luci

digby wrote:

At last exchange rate today --£1 is now 1.11 euros. Hope things are beginning to get better.

looks like it droped down

£1 is now 1.08 euros