| Travellers cheques, cash, credit card or AMEX Travellers Cheque card [message #396199] |
Do, 08 Juni 2006 22:50 |
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I'm off to the US in August for my honeymoon and was wondering what our
best option is regarding money?
Our travel agents have offered us an American Express Travellers Cheque
Card, which seems like a good idea, but i'm not sure of any hidden
costs, etc. It'd be nice to prepay dollars into the AMEX card which we
can then use at shops, restaurants and to withdraw cash from ATM
machines, but i'm not entirely sure if it's possible to do this with
it, and if you get charged each time.
And can't we just do that with our existing VISA credit cards anyway?
But, then again, i assume we'd get charged for this each time aswell?
Are the old fashion travellers cheques and a bit of cash still the best
way to go or do the yanks prefer the old flexible friend? Are there
also hidden costs when cashing in travellers cheques?
Thanks in advance for any suggestions
Dan
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| Re: Travellers cheques, cash, credit card or AMEX Travellers Cheque card [message #396228 ] |
Fr, 09 Juni 2006 11:12 |
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<dan_williams [at] newcross-nursing.com> wrote in message
news:1149799842.944036.294570 [at] i39g2000cwa.googlegroups.com...
> I'm off to the US in August for my honeymoon and was wondering what our
> best option is regarding money?
Open a Nationwide flex account and get their credit card. Withdraw cash at ATMs using
the flex account card, use the credit card for spending.
> Our travel agents have offered us an American Express Travellers Cheque
> Card, which seems like a good idea, but i'm not sure of any hidden
> costs, etc. It'd be nice to prepay dollars into the AMEX card which we
> can then use at shops, restaurants and to withdraw cash from ATM
> machines, but i'm not entirely sure if it's possible to do this with
> it, and if you get charged each time.
I guess the main charge will be the exchange rate markup when you pay dollars into
it.
> And can't we just do that with our existing VISA credit cards anyway?
Yes.
> But, then again, i assume we'd get charged for this each time aswell?
Probably. Most will mark up the exchange rate by 2.75%. Nationwide don't, hence the
recommendation.
Most credit cards charge a fee plus immediate interest for cash withdrawals,
including Nationwide, but Nationwide don't charge for flex account cash withdrawals.
> Are the old fashion travellers cheques and a bit of cash still the best
> way to go or do the yanks prefer the old flexible friend? Are there
> also hidden costs when cashing in travellers cheques?
In the US you don't usually need to cash travellers cheques, you spend them. Most
places accept them as payment, and give change in cash. Although I've heard some
places have stopped taking them as use has declined.
Something else to watch out for is Dynamic Currency Conversion - where when you pay
for something the POS terminal detects your card is British and converts the currency
into GBP. Sounds useful - but the rate they use includes a big markup so it is in
fact a rip-off. No retailer is supposed to do this without asking you first, but
because they get a cut of the exchange rate markup many don't bother asking. You have
the right to insist on paying in the local currency and letting your bank do the
conversion in the usual way.
Not sure if DCC has reached the US yet - it'll probably only be used at places where
they expect a lot of foreigners.
--
Andy
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| Re: Travellers cheques, cash, credit card or AMEX Travellers Cheque card [message #396246 ] |
Fr, 09 Juni 2006 09:38 |
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dan_williams [at] newcross-nursing.com wrote
>I'm off to the US in August for my honeymoon and was wondering what our
>best option is regarding money?
>
>Our travel agents have offered us an American Express Travellers Cheque
>Card, which seems like a good idea, but i'm not sure of any hidden
>costs, etc. It'd be nice to prepay dollars into the AMEX card which we
>can then use at shops, restaurants and to withdraw cash from ATM
>machines, but i'm not entirely sure if it's possible to do this with
>it, and if you get charged each time.
>
>And can't we just do that with our existing VISA credit cards anyway?
>But, then again, i assume we'd get charged for this each time aswell?
>
>Are the old fashion travellers cheques and a bit of cash still the best
>way to go or do the yanks prefer the old flexible friend? Are there
>also hidden costs when cashing in travellers cheques?
>
>Thanks in advance for any suggestions
>
I used my CC for presents etc, and used my Nationwide debit card tom
withdraw cash from my account (no charges).
--
Gordon Harris
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| Re: Travellers cheques, cash, credit card or AMEX Travellers Cheque card [message #396262 ] |
Fr, 09 Juni 2006 16:48 |
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Andy Pandy <spam8times [at] wonderful.spam.invalid> wrote
>
><dan_williams [at] newcross-nursing.com> wrote in message
>news:1149799842.944036.294570 [at] i39g2000cwa.googlegroups.com...
>> I'm off to the US in August for my honeymoon and was wondering what our
>> best option is regarding money?
>
>Open a Nationwide flex account and get their credit card. Withdraw cash
>at ATMs using
>the flex account card, use the credit card for spending.
>
I go along with that - see my other post!
--
Gordon Harris
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| Re: Travellers cheques, cash, credit card or AMEX Travellers Cheque card [message #396290 ] |
So, 11 Juni 2006 12:48 |
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dan_williams [at] newcross-nursing.com wrote:
> Are the old fashion travellers cheques and a bit of cash still the best
> way to go or do the yanks prefer the old flexible friend? Are there
> also hidden costs when cashing in travellers cheques?
>
> Thanks in advance for any suggestions
As others have suggested, a nationwide flex account is best for cash
withdrawals, and either that or a nationwide visa for purchases.
Some cash is always a good idea.
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| Re: Travellers cheques, cash, credit card or AMEX Travellers Cheque card [message #396321 ] |
Mo, 12 Juni 2006 10:16 |
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Jonathan Bryce <jonathan [at] localhost.localdomain> wrote
>dan_williams [at] newcross-nursing.com wrote:
>
>> Are the old fashion travellers cheques and a bit of cash still the best
>> way to go or do the yanks prefer the old flexible friend? Are there
>> also hidden costs when cashing in travellers cheques?
>>
>> Thanks in advance for any suggestions
>
>As others have suggested, a nationwide flex account is best for cash
>withdrawals, and either that or a nationwide visa for purchases.
>
>Some cash is always a good idea.
Bridge/Freeway tolls spring to mind. :-)
--
Gordon Harris
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