Stick to the banks for daily rate

In my experience the banks usually give the very worst rate when you take into account their service charges & commission. Look out for "No Commission" exchanges.

any thoughts?

i am getting conflicting ideas.which is best to take?

Definitely Sterling.

cheers for that..that is what we always take.

.all travel agents seem to want to give you euro trav ch., and everywhere charges 1.5 % for sterling ones, so i just wondered whether to 'convert ' to euro cheques.

ditto - definately sterling - hotels tend to give the best rates, particularly those that are part of large groups (at least they have done in our resorts for the last few years)

Don't know why travel agents always seem to push Euro TC's but there must be a reason !

If you have an M & S chargecard or know someone who does you can get Sterling TC's from them for only 1% commission, they had a good rate for currency too.

However, if you are a LLoyds TSB account holder you can get them commission free !!

There was some confusion over whether you needed to be an account holder or not as some people had manage to get them without acutally having an account but I think David was looking into it.

Hi Snaive

I am a lloyds account customer how do you get the cheques commission free. From lloyds or m&S

Mike

just order on-line, in branch or telephone lloydstsb i just did..not even customer of theirs...all commission free..even sterling travcheques

excellent..

I went into my local branch a few weeks ago and asked to buy Sterling Travellers cheques to be told that unless I am an account holder I couldn't buy them.

I also rang their central number and the lady on the phone told me the same !!!

Hi thanks for the replys, I will phone my local branch. Commission free, here, its commission free in majorca and you get a better rate in majorca when changing up.

Mike

According to website you don't need to be an existing customer with Lloyds TSB perhaps it's just in-branch that they're particular.

honestly mate, i just picked mine up this afternoon from local TSB branch. Ordered over phone (euros and sterling trevellers cheques) yesterday. No hassle when i picked up. I only bank with Abbey(no lloyds tsb connection at all) and paid with their debit card over phone yesterday. Just showed this card and driv.lic. as i.d....brill service and free!!!!

I have read in a few topics recently that LloydsTSB were no longer selling Travellers Cheques commission free to non-account holders. But I bought some recently, and I have also checked in three local branches within the last couple of weeks, and all were still selling both Euro and Sterling cheques commission free to account and non-account holders.

It's a deal which puzzles me, because although Euro Travellers Cheques can be sold commission free and the vendor still makes a profit due to the poor exchange rate given, to sell Sterling Travellers Cheques commission free leaves no profit for the vendor.

Perhaps some LloydsTSB branches have now opted out for that reason, which may explain why some members are being given different information locally.

I'm sure I read a post last night from someone who had also managed to get Sterling cheques commission free from Thomas Cook, because they agreed to price-match the LloydsTSB offer
There is more discussion on this subject in the following topic:
http://www.holidaytruths.co.uk/viewtopic.php?t=35796

David

in majorca it is best to take sterling travellers cheques last year we were recomended to take euro travel cheques and we paid comm on every cheque we cashed we will be taking sterling this year

Can anyone tell me if you get charged commission for changing euro travellers cheques. Im thinking of taking euro cheques because they are no commission from the post office.

when in Ibiza last year, we took sterling travellers cheques as got a better exchange rate out there....whats recomended for Majorca?

Hi Markas

I would recommend taking some euros to cover you for the first day or two.

Dont bother with travellers cheques - open a flexaccount at the Nationwide Building Society and you can draw out money at any ATM.
Nationwide do not make any charges for any transactions made abroad.

This is the cheapest and safest way as you do not have any commission charges and you do not need your passport to change money. If you open a joint account you will get 2 cash cards.

We opened an account there and it only took a week to get all the paperwork and cards through.

Have a look at this review:-
http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1106765397,71685,

Hope this helps

Carmel

Also you will get a much better rate over there than here.