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Topic: How much Cash?  (Read 1922 times)

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Re: How much Cash?
« Reply #15 on: October 10, 2008, 09:16:42 AM »
I have changed cash from pounds into dollars and bought US dollar traveller's cheques from Thomas Cook in the UK several times without paying a penny in charges. I don't use ATMs when abroad because I'd get charged for taking the money out and since I've never had to pay anything extra to change money into dollars or to change them back into pounds through a travel agent, I don't want to pay to take it out of a machine.
Travellers cheques that are advertised as no fee, in my experience, always hide a fee in the exchange rate.  Last time I priced them the average was about 8% over the interbank.  Most cards change 1 or 2% over the interbank when used in foreign ATMs so even with a per-transaction fee they almost always cost less then buying "fee free" travellers cheques.


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Re: How much Cash?
« Reply #16 on: October 10, 2008, 08:41:45 PM »
Travellers cheques that are advertised as no fee, in my experience, always hide a fee in the exchange rate.  Last time I priced them the average was about 8% over the interbank.  Most cards change 1 or 2% over the interbank when used in foreign ATMs so even with a per-transaction fee they almost always cost less then buying "fee free" travellers cheques.

Ahh, okay - I never realised that, so thanks... I shall have to check out the different rates more carefully next time I change money :).


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Re: How much Cash?
« Reply #17 on: October 10, 2008, 09:21:49 PM »
I always just use the ATMs over there. I did alot of research on best exchange rate and everything I said told me it was the best way to do it. I get a $3.00 foreign transaction fee from my bank, but the UK banks didn't charge me a fee. There are ATMs right after you exit Customs. I would just do the bank statement as Vicky suggested.


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