travellers cheques for europe

[winnie-T-P]

my friend is off to lanzarote at the end of the month,they have never been abroad before so are unsure what is the best way to take their money.

She has been advised to take x amount in travellers cheques but to take them in sterling rather than euros something to do with getting a better exchange rate over there is that correct???

also using a halifax visa debit card to withdraw cash will that work out expensive over there?

thank you in advance

[lexie]

In europe sterling is best as you cannot spend them like currency like you can in US and you get a better rate and that way you always know exactly how much you come back with too
http://i169.photobucket.com/albums/u221/ALBEANO_01/lexie.gif

[winnie-T-P]

cant you use them in shops and stuff then?

[Hal]

personally I wouldn't take travellers cheques to Europe. I would use my debit card to withdraw cash from ATMs - Halifax would be fine.

Withdrawing cash from ATMs (at £100-£200 a go - not £20 a go) would be cheaper than using TCs - and the rate would be closer to the bank rate.

If you want the discipline of TCs consider getting a TC card - which is a preloaded card which enables you to withdraw cash from ATMs.

[disney owl]

We stopped taking travellers cheques to Europe several years ago now. It's such an hassle to change them plus charges we now take a mix of cash, withdraw with debit card & use a credit card. Much easier.

[motty1969]

Just tell them to take cash and get it changed or take a cash card. Mind you most banks charge at least £1.50 to get money from the hole in the wall. If they have time tell them to get a Flex account at Nationwide, they don't charge to withdraw cash, or to use your debit card in shops.