Money money money - chqs or cash?

[Incy2008]

I am going to change our money over this weekend, and wondered about a few things....
1. Can you use travellers cheques in restaurants etc to pay for meals? If so, does the restaurant make a charge for this?
2. How much should we take in travellers cheques compared to cash
3. Where can you get the best exchange rate in the uk?

Many thanks for your help,

[Elsie]

I am going to change our money over this weekend, and wondered about a few things....
1. Can you use travellers cheques in restaurants etc to pay for meals? If so, does the restaurant make a charge for this?
2. How much should we take in travellers cheques compared to cash
3. Where can you get the best exchange rate in the uk?

Many thanks for your help,

1. No charge. In most places in Florida TC's are treated just like cash. You pay with the TC's and get cash in change.

2. We usually take a 3-to-1 ratio, 75% in TC's, 25% in cash. If you lose your TC's they can be replaced.

3. Oops! Sorry, no idea who is best ATM!

[Incy2008]

Thank you! :grin::grin:

[Incy2008]

Do you get a reduced exchange rate if you exchange TC's to $ over here? I am trying to decide the best way (and most beneficial and cheapest!) way of doing this...! :grin:

[pinklemonade]

go to your local cheque centre (the places you can get a payday advance from) their rate ATM is about 1.94 to the pound.

[I love Mary]

In the past I have always got a better rate for TC's through Thomas Cook, but as I usually end up signing for them I also get at least a quarter cash just for DH

[ERICSMUM]

Do you get a reduced exchange rate if you exchange TC's to $ over here? I am trying to decide the best way (and most beneficial and cheapest!) way of doing this...! :grin:

Not sure what you mean by this. You need to buy US Dollar travellers cheques, not sterling ones. You can shop around for the best exchange rate - banks/travel agents/Marks & Spencer etc. They will debit your bank account, or you pay by credit card or cash.

Don't plan to exchange sterling for US $ once you get to Florida, as (a) there are not many places that do this and (b) if you find one, the exchang rate probably will not be as good as over here.

Hope this helps.


Linda:wavey:

[bustersmum]

I tried our local cheque centre yesterday they were the best rate on the high street but they rarely stock travellers cheques so I used it as a comparison to get a money match at the co op 3 doors away.

[scooby99]

As mentioned above, do NOT take sterling travellers cheques as you will have a nightmare trying to exchange them! Not many places in the US offer an exchange facility like in Europe.
Take US$ travellers cheques.

Have you tried a site like Moneysupermarket.com to see exchange rate comparisons?

[madwife]

We are taking £4500 with us this trip and we have decided to change £3500 into TC's and £1000 into dollars :wave:

[Lesley_Perschky]

We split ours between TC's, cash and a pre-loaded dollar card.

[Bozza]

I'll take a small amount of cash and my credit card(s). Nice and easy.

[MattF]

Take about 1/4 cash and the rest in TCs

[Daris]

we will be doing 75% TC and 25% cash, children will be taking $ of their own.....and do they feel so grown up !! ;)

[TJayy]

Be careful about how much actual $ cash you take as there will be a maximum amount of cash you will be covered for on your travel insurance, normally no more than a couple of hundred pounds per person.

[Incy2008]

Thanks for your help and advice everyone :grin: