Travellers Cheques - GBP or USD?

[matt1902]

Dear All
Just wondering what people's recommendations are, do you take Pounds Sterling Travellers Cheques or US Dollar ones? Do you get charged a commission at places when you use USD ones or do you get the straight value?

Look forward to people's views and Experiences

Matt

 

[Elise79]

You will find it difficult to exchange sterling TC over there. Take US$ ones if you take any. You will get face value for the cheque and change in cash.

Most people prefere the pre-loaded cards now but we just use a fee free CC.

 

[Dimplenose]

You get charged commision by the bank that issued the dollar cheques in this country. Once you have them you can use them at face value at shops and get your change in cash. We also changed some at our WDW hotel (I assume other hotels will do this) but they limited us to $200 a day.

You will need to find a bank to change sterling cheques once in America so they are really not very useful.

 

[wayneg]

No reason for a poll on this one, it should be 100% USD as you spend them in shops as cash, as said if you took £UK TC's you would have to find a bank in US to convert to $US's and pay a fee for doing so.

 

[EvertonCJ]

If paying by credit card sometimes I am asked do I want to pay in dollars or pounds. Which should I choose?

 

[wayneg]

If paying by credit card sometimes I am asked do I want to pay in dollars or pounds. Which should I choose?

Dollars then the only fees you pay are to your own credit card(hopefully you have a fee free card so zero fees)
If you opt for £'s they can charge you any exchange rate they like and it will not be in your favour.

 

[2Tiggies]

The currency in the US is US$. Every transaction you do should be in US$.

 

[wayneg]

The currency in the US is US$. Every transaction you do should be in US$.

There was an article on BBC(site down so can't search for it) some people were getting confused when suddenly asked which currency do you want to be charged in. The merchants were using very poor exchange rates to convert.

What is dynamic currency conversion?
Some merchants now offer to convert your purchase into your home currency. This is called dynamic currency conversion and means the merchant—and not Visa—is converting the currency. As a consumer, you may value knowing the exact price in your home currency at the point of sale, but you should be aware that you may be charged extra for this service by the merchant. Visa requires that you be provided a meaningful choice at the point of sale and you have the right to buy your purchase in the local currency to avoid any additional fees the merchant may assess. Visa also requires merchants offering this service inform you of the exchange rate, including any applicable commission being charged.

 

[2Tiggies]

I just read my previous post in your quote. It looks quite rude! Didn't realise it was so blunt.

 

[wayneg]

I just read my previous post in your quote. It looks quite rude! Didn't realise it was so blunt.

I didn't read it as being blunt or I would have sent you a PM asking what was wrong with you being so rude

 

[2Tiggies]

I didn't read it as being blunt or I would have sent you a PM asking what was wrong with you being so rude

Just checked my message box and it looks like I'm safe The ex in-laws are coming tomorrow for the week so it is possible that I am a little edgy!

 

[wayneg]

Just checked my message box and it looks like I'm safe The ex in-laws are coming tomorrow for the week so it is possible that I am a little edgy!

Have fun.

 

[2Tiggies]

Have fun.

Gee thanks. I don't suppose anyone going to the DIS meet wants to trade places for a day or two

 

[wayneg]

Gee thanks. I don't suppose anyone going to the DIS meet wants to trade places for a day or two

Let me think about that, nope I thought about it, I will stick with going to Florida

 

[steve_rob]

There was an article on BBC(site down so can't search for it) some people were getting confused when suddenly asked which currency do you want to be charged in. The merchants were using very poor exchange rates to convert.

To give you an example of how bad the rates are when you are offered the option to pay in $ or £, the only time this has happened to me, I was offered a rate of $1.78 to the £1. Sounds good? Unfortunately this was in the glorious days when we were getting about $1.95 to £1! And this was at a major store in the Florida Mall, not some place you'd expect to be ripped off. Lesson - pay in dollars every time.