currency vs travellers cheques vs debit cards

[bezzles]

can anyone give me their views on what to take and use in the US. Dollars, Debit Card, Credit Card or Travellers Cheques?

[BIG_E]

If you take Travellers cheques, make sure they are American Express - i've had problems Using others (VISA etc).

I've always taken a mixture of cheques & dollars. If you use your credit/debit card , they sometimes ask to look at your passport.

Also make sure your Travellers cheques are small amounts $20 or $50 for small purchases. some shops will not change up large cheques for small amounts.
hope you enjoy !

[bezzles]

Thanks BIG_E

We're going to Florida for the first time (22/04/04). Hope your trip goes well. Once again thanks for the advice.

Bez

[BIG_E]

You lucky peoples - First visit, you don't know what a great time you are going to have :) :D I've been ten times now and it just gets better & better !!

[edie_w]

We take

- a small amount of cash to get us through the first day or so,

- our credit cards which we use constantly and pay off when the bill comes (never been asked for ID in 4 trips except when buying alcohol!!!!)

- our debit/cashpoint cards (with Cirrus logo) to get cash out of the ATMs.

[Claire_L]

For ID when using TC or CC I find my photo card driving licence so useful, saves the hassle of carrying a passport and worrying about losing it!!
I always find a combination of TC and $US useful and take them in about a 1:5 ratio. The CC comes in ahndy for bigger purchases or when getting near the daily allowance of TC/$US :eek: !!
Claire :wink

[Big_Mark]

We took american express tavellers cheques this year all $100, we had no problems cashing the cheques anywhere in or out of disney, no ID was needed anywhere.

I always take half in dollars and half in cheques. I also take a credit card for extra cover or the odd we'll worry about it when we get back moment or emergancies.

I always take just enpougfh cash for the day adnm a card, leave the rest in the room safe, it also helps you overspending.

[Angellore]

We'll be taking £100 worth of dollars each in cash and the rest in Amex travellers cheques, mixed denominations.

[spendleb]

Credit cards for us plus a small amount of cash for car parks etc, never been asked for ID and the exchange rate when you come home and pay the card off is great as it's the bank rate and not the tourist rate so normally a lot higher :-)

[TractorBoy]

Only ever use credit card plus a bit of cash for drinks etc in the parks

Not having to pay the bill until you get home is a major bonus plus if you do not have a photo driving licence you do not have to tow your passport round with you.

[Claire_L]

Originally posted by TractorBoy
Only ever use credit card plus a bit of cash for drinks etc in the parks

Not having to pay the bill until you get home is a major bonus plus if you do not have a photo driving licence you do not have to tow your passport round with you.

I don't like to huge a bill when I get home makes me depressed as it has finished!! :(

I have been asked several times now for ID when using my CC and when buying alcohol even though I was 29 last year!!!!
So it may be wise to carry photo ID to save any embarrasing moments :blush: .

Claire :wink

[TractorBoy]

Take your point Claire but surely it is better to leave the money in your account earning a little bit of interest rather than take it out prior to your holiday and having to keep it all safe somewhere. Never been asked for ID in all the years we have been going.

[Claire_L]

I like knowing what I have spent and have a daily allowance for food and essentials and use the card just for clothes and gifts!! Also my bank account gives about 0.5% interest so would rather gamble in the hope of getting a better rate before I go.
Claire :wink

[ashley.smith]

TRACTOR BOY Yours is the best policy if the Dollar is falling but when it is rising paying by credit card could cost you more in the long run.

FOr me well at easter we took 1/3 cash, 1/3 travelers cheques and 1/3 credit cards.

No problems with cashing $100 AMEX cheque anywhere and a useful way of getting the next days cash!

Credit card was used for larger items and when we had used up all travelers cheques

[rob@rar.org.uk]

Compare the exchange rates on credit cards, cash and travelers cheques. Credit card is usually the best and TCs are usually the worst. With cash or TCs you can also be hit with two set of F/X charges - into dollars and back into pounds for any money you don't spend.

I take a little bit of cash for small items (snacks & drinks, road tolls, etc) and put the rest of credit card. That way I get the best possible exchange rate, only have to convert into dollars the exact amount of money I need and I get to keep my holiday money in my account for as long as possible. I can still set myself a daily allowance so I won't recieve a nasty shock when the credit card bill arrives.

Be aware that most credit card companies add a small handling fee/commission to each foreign currency transaction. Nationwide's Visa card is an honourable exception to this rule.

Regards

Rob

[Pino_Spetzberg]

Originally posted by rob@rar.org.uk
Be aware that most credit card companies add a small handling fee/commission to each foreign currency transaction. Nationwide's Visa card is an honourable exception to this rule.


First time we went ( 1996 ) American Express Travellers Cheques were advised, we took $20, $50 denominations mostly with $100 for paying hotels and buying attraction tickets. Had no problems using them anywhere, even buying breakfast at Dennys towards the end with $100 to receive cash as change.
Last couple of trips we haven't used Travellers Cheques, instead taking cash Dollars and coins from previous trips for tolls. Most spending is with credit cards, regarding Nationwide's favourable policy regarding foreign currency transactions, was suspicious of their exhange rate so decided to compare.
Visited a Super K-Mart and purchased $20 beers using Nationwide Credit Card, then popped back in to a different cashier bought the same $20 beers with a Lloyds TSB Platinum Credit Card, repeated the process buying separate $20 beers with Capital One Platinum, Abbey Platinum, GM Card Platinum, Halifax One and First Direct Gold cards.
When checking statements to compare transaction exchange rate was genuinely surprised to find not only did the Nationwide not charge a foreign currency transaction fee but their exchange rate was equal best. ( Capital One was worst in this instance. )
Obviously this may vary but it has persuaded me Nationwide is a great value credit card.

GM Card has a Free Flight promotion, if spending over £800 choose a " free " return flight to New York, Boston, Washington, Atlanta or Chicago ( you have to pay Airport taxes, supplements, insurance, and book through Rise Travel { who ? }. Will try this
spending £800 in UK before 31st May, be interested to see if it works better than my " free " Hoover flights.
Remember that scam ! :omg:

[rob@rar.org.uk]

Pino - a terrific bit of research. I'm sure all those beers were a welcome outcome of all your deliberations!

Regards

Rob

[paulac]

With cash or TCs you can also be hit with two set of F/X charges - into dollars and back into pounds for any money you don't spend.

Rob

Have never had any travellers cheques left to bring back. :D

Tend to spend the last (tiny amount) bit of cash at the airport.


Pino

Thanks for the research, am now off to get a Nationwide credit card. ;)

Paula

[MC3D]

Originally posted by BIG_E
If you take Travellers cheques, make sure they are American Express - i've had problems Using others (VISA etc).

we didnt have any problems using VISA Travellers Cheques, they were accepted everywhere.

[Jools]

Pino,

I'm a great fan of the Nationawide credit card. I recently swapped mine for a cash reward card. The APR is higher but as long as you pay off the balance in full each month it does not matter about that. So now I also get a cash rewrd each time I use the card. Brilliant.

Julie

[TinkTatoo]

We take about $400-$500 cash (for 3 weeks) and the rest is done on credit card.

I also take my cash point card and if we run out of cash we get some more from the cash machine.

[davie]

Cash, CC and Cirrus (to withdraw $ from ATMs).

Never bothered with Travellers Cheques - with Cirrus I can withdraw cash direct from my bank anywhere in the states so why bother.

Use CC's for everything except small stuff like tolls, parking, tips, snacks etc.

Dave

[Enright78]

We have also used VISA tcs with no problems up to $100 denominations.
Tend to go down the CC and cirrus card route too.

[Pino_Spetzberg]

Rob, PaulaC, Jools,

Thanks ! :thumbup:

[paulac]

Pino

Thank you.

I've got myself sorted with Nationwide, I think they are the only card that don't charge commission fee on foreign currency.


Thanks again


Paula :D

[Sazere]

First time I went took American Express Travellers Cheques and had to carry ID with me, mind you was 17 at the time not sure if that made a difference!

Second time took about $500 cash, withdrew rest from debit card from ATM, also used and abused my credit cards but came back upto my limit on 3 cards!

Third time I was very restrained took $500 cash and withdrew as I needed it from ATM's via Cirrus, this was the easiest thing to do.

This time as the exchange rate has been pretty good I have alot more $$$$'s to take and if I need any more I will just use my debit card in the ATM's.

[bengunn]

The main thing with TCs and cash is to make sure that it is in $$. If you try to change £ Sterling TCs or cash, you will have a very hard time doing it.

[slewis1972]

Well - too late for me to get a Nationwide card - applied but wont get to me by Next Thursday. Shame no one else does that offer of no currency transaction on purchases.

Scott

[DavidRandle]

We have been four times and always taken travellers cheques, this time we will take some cash and use my debit card.

[Pyranthal]

I take it from this thread, that you can cash travellers cheques at any shop?

[Pyranthal]

Anyone?

[opticalhazer]

Pyranthal - Yes TC are used as cash in restaurants, shops etc. It is wise to carry some form of ID for them to check it back against though otherwise you may not be able to complete your transaction x

[Pyranthal]

Thanks.

[Chesterbhoy]

Would advise to take a small amout of $US in cash. Make these small lots of $1, $5, $10 and $20. These will be good for tolls or tips.

Take a few credit cards. Use one for car hire and do not use for anything else, some companys freeze the card for insurance.

Nationwide is a good credit card to get before you travel, as it does not charge for international exchange, hence you get all the higher bank rate (tourist rate normall 10cents or more lower). Other cards charge 2.5%, this will still be better than the tourist cash rate. Try to use credit cards, alot more secure and you getting better exchange rate. You can also see at night what you have spent during the day by collecting all the slips. You then have and extra month to pay off when you return. WE WILL BE USING CREDIT CARDS MORE ON OUR RETURN.

With all the things you need to carry around in Orlando (tickets, autograph books, water, camera, etc.) you do not want to carry cash.

Traveller cheques are secure and are used just like cash. We were never asked for ID, but I carried the small UK driving licence, just in case. Will not use again, as they get wet on the water rides and the exchange rate when buying was poor.

I WOULD STICK TO SMALL AMOUNT OF CASH AND CREDIT CARDS.

ENJOY

[Enright78]

I used my M&S card to book some theatre seats in the US and when the bill came through there was no commission charge and the exchange rate was 1.85.

[Pino_Spetzberg]

M & S ( Money & More credit card ? ) does charge a foreign currency commission.
They hide it within the exchange rate, as is common practice.
:smile:

[Enright78]

Must have been pretty well hidden then or I did it on a day when the exchange rate was well above 1.85!!

[Pino_Spetzberg]

Prior to Dec 20th it hit above $1.955, it then fluctuated around $1.92 / $1.93 starting to dip from Dec 27th but still above $1.90 until Jan 3rd - climbing again from Jan 6th to $1.88 / $1.89, before sliding to $1.869 ( $1.797 tourist rate ) as of this moment.

In a nutshell, if you were to book tickets tonight for Elton John's The Red Piano at Caesars Palace Las Vegas with your M & S card you will probably find the rate will be around $1.79 when you receive your statement.
If you booked the same tickets with a Nationwide credit card I am confident it would be a rate around $1.86 or better.

Broadly speaking. :D

[TinkTatoo]

As an update to this thread - we actually opened a US bank account on our last visit, it was very straight forward.

Now all we have to do is transfer some money into it before we go (or whenever we feel the exchange rate is good) and we can just use our Visa debit card in the shops or at the cash point.

I think it's a great idea for anyone who regularly visits the USA

[martin]

Hi everyone,

We did the same as TinkTatoo, several years ago we opened a bank account with the SunTrust bank in Kissimmee. I also have a direct debit set up with my british bank which transfers money each month to the american account. In away it's almost like saving without trying as I never notice it coming of my account, it's just one of the many direct debits that get deducted at the beginning of each month! I'm always surprised to see how much is in the account just before we go on holiday.

Another benefit with the american account is you get their version of a Switch card which you can use in all the shops just like our version here. I have in the past been asked for I.D. when using a credit card so it certainly does happen but I've never been asked when using the SunTrust card.

Of course you don't need to set up a monthly direct debit you can make one payment just before you go.

I also took advice from you guys and opened a Nationwide Flexaccount and credit card (when I was a lurker last year). I paid for my park tickets using the Flexaccount card last November and when my statement arrived I got an exchange rate of $1.944. Absolutely marvellous and no charges!!

martin.