Travellers cheques or Travel card?

[Looby Loo]

Hello all!

I've just popped into the Post Office to pick up a passport renewal form for DBF and the lady asked how we planned to take our cash on holiday. I've always taken travellers cheques because they could be spent like cash everywhere I've been in Orlando however she mentioned taking a Post Office money card that we can load with our spends and then spend like cash.

What would you suggest, travellers cheques or travel card? Is there a %charge for each transaction we make on a money card

On a separate note, £77.50 for a renewed passport!!!!

 

[chmurf]

What would you suggest, travellers cheques or travel card? Is there a %charge for each transaction we make on a money card

I think the lady at the Post Office is pretty much interested in selling her stuff.

If you take a card, load it with money and spend like cash, then why not take your credit/debit card (if you have any) and if you stay onsite you can do the same with the KTTW

You should have asked the PO lady if she gets a bonus on her paycheck depending on how many cards she "sells" a month

Anyway, I only use CC. But I used to use Travellers checks 20 years ago in the US and it was OK

On a separate note, £77.50 for a renewed passport!!!!

I guess UK is a tad cheaper than France for passports ...

 

[chmurf]

I checked for the fees.

When you get the card you need to load it with at least £50
you're charged 1.5% fee on initial load (minimum £3, maximum £50)

if you use it in the US (or anywhere other than the UK) there is a 3% fee (most major credit cards only charge between 2 and 2.75%)

there is a £1.5 charge for currency withdrawal and it states that operators might charge extra. If you withdraw from a Chase ATM at Disneyworld there will be a $2 charge on top of that.

each time you top up your card, there will be the 1.5% charge with a minimum of £3 and a maximum of £50

there is also a £5 when you close the card

it's a rip off in my book, no wonder the lady at the PO wanted to sell it to you, they're making good money on those cards ...

source : https://www.postoffice.travelmoneycard.co.uk/documents/10605/3ee5eb0b-7cd2-473c-8fb4-11faa640d1bb

 

[queendisney]

we always stick to T/chq's and cash now..we did have the travel card but found it was a pain to keep track of what was left on it and also if you left any on it at the end of your hols for the next time they start taking a fee for non usage!!! Not sure all cards are the same but that one was from Travelex. We only resort to credit cards if we run out of money as you are charged at whatever the prevailing exchange rate is, which at the moment doesn't alter much, but you just never know you could become unstuck if the rate suddenly falls for whatever reason, or be lucky if it goes the other way!

So with t/chq and cash we just buy when the rate is good and we know exactly where we are. T/chqs are generally treated as cash but you must take ID with you.

If you are staying in the WDW resort then just leave them your credit card details and use your KTTW, you can pay this off at any point with any method of payment unless you leave it right to the morning you leave then they will take it from your card.

 

[jtlover]

We never use travellers cheques. We always take some cash and use a travel card. We use Fairfx but might look into the po one.

The plus is that you can load more money on your card whilst you are in Orlando. This is good as I usually get paid whilst I am on holiday we just go online and within a few hours the money is on the card.

We love the cards as we know where we are with them and we can check online what our balance is. It is like a debit card but without the surprise bank charges when you get home.

 

[chmurf]

It is like a debit card but without the surprise bank charges when you get home.

check my reply above. The PO card is at least 2 times more expensive than bank charges for debit cards ...

 

[Looby Loo]

Thanks everyone!! I knew you would say it as it is!

As we are staying onsite we can use the KTTW and we'll take TC.

I can't believe all those charges - you're totally right, complete rip off!!!

 

[wayneg]

Have you considered a fee free credit card and not mess about exchanging money at all?
Post office is one of the best, 2 more are Halifax Clarity and Santander Zero. All 3 will get you full interbank rate and no fees, today that would be $1.6121.
Usually a far bettter rate than TC's and you don't need to pay til you get home.
Credit is not for everyone, you need to pay off before any interest is added but its saves me £100's every year.

 

[jtlover]

check my reply above. The PO card is at least 2 times more expensive than bank charges for debit cards ...

But mine isn't the PO card!

 

[Shazzie B]

I use Fairfx too; they don't charge anything like the PO card - no transaction charges unless withdrawibg cash (which we don't do). Only charge was initial purchase of card (can't rememer how much but not a lot), their rate is normally better than cash foreign exchange, like previous poster - we like fact that you can top up easily whilst we are away, and don't have to carry ID. However I know what you mean about keeping track of spending - it would be a nightmare without internet access.

 

[GirlDreamer]

I checked for the fees.

When you get the card you need to load it with at least £50
you're charged 1.5% fee on initial load (minimum £3, maximum £50)

if you use it in the US (or anywhere other than the UK) there is a 3% fee (most major credit cards only charge between 2 and 2.75%)

there is a £1.5 charge for currency withdrawal and it states that operators might charge extra. If you withdraw from a Chase ATM at Disneyworld there will be a $2 charge on top of that.

each time you top up your card, there will be the 1.5% charge with a minimum of £3 and a maximum of £50

there is also a £5 when you close the card

it's a rip off in my book, no wonder the lady at the PO wanted to sell it to you, they're making good money on those cards ...

source : https://www.postoffice.travelmoneycard.co.uk/documents/10605/3ee5eb0b-7cd2-473c-8fb4-11faa640d1bb

Sorry but did you even read that site properly? It's not much fees at all. The most sensible way would be to load it with $ not £ as you're going to spend it in the US. Now if you load it with £, then yes it's going to be plenty of fees, but if you do $ it's not that bad:

0% commission for initial load on euro (¤) card or on US dollar ($) card.

...

A Cross-Border Fee of 3.00% of the transaction amount will apply if the
transaction is in a currency other than that of the Card.

Top up fee: • 0% commission for load on euro (¤) card or on US dollar ($) card

So if you insist on getting a travel card in £'s and not $ then yes it's going to cost you. But why would you want a card in anything else than $ if you're going to use it in the US?

 

[zippy99]

I paid £10 for my FairFX card a couple of trips back.

Like others have mentioned - this is a great way of topping up your spends whilst you are out there. Rather than pay your debit card commission etc.. you can transfer money on to your card and at a what is normally a very good rate.

We do not do credit cards - so that has never been an option for us. We just take cash and the $$ travel card.

If you are interested in the FairFX card ask existing holders can give you a link so you do not even need to pay the initial £10.

Also - must agree with Girl Dreamer - if you get a Post Office $$ Card there is no charge or commission to top this up or to use it in the USA - same as FairFX. £500 would give you $789.50 with Fairfx or $783.00 with PO. This is the main reason I have FairFX as it is a better rate.

 

[joolz1910]

Have you considered a fee free credit card and not mess about exchanging money at all?
Post office is one of the best, 2 more are Halifax Clarity and Santander Zero. All 3 will get you full interbank rate and no fees, today that would be $1.6121.
Usually a far bettter rate than TC's and you don't need to pay til you get home.
Credit is not for everyone, you need to pay off before any interest is added but its saves me £100's every year.

I've just ordered a Nationwide Select credit card because this doesn't charge a fee. I intend to take some cash and then charge everything to the cc. But I have been known to change my mind...

 

[dixonsontour]

We set up a citibank account and used that in October for the first time.

 

[disneyholic family]

i also use a credit card.

when i was a teenager and traveling internationally on my own, i used travelers cheques (with all the numbers copied etc etc) so if they were lost or stolen they could be replaced.

But as soon as i was old enough to have a credit card, i've only used credit cards.

Actually, only one credit card when i travel - American Express. i've had a card with them since 1979. They are very easy to deal with when the card or number is stolen.
And they will help you in a dispute with a supplier. (we had a big dispute last year, that is still being fought by Amex. - when it's finally resolved i'll update you).

In any case, when i travel i ONLY use my American Express card. "Don't leave home without it"

 

[Holstar]

I checked for the fees.

When you get the card you need to load it with at least £50
you're charged 1.5% fee on initial load (minimum £3, maximum £50)

if you use it in the US (or anywhere other than the UK) there is a 3% fee (most major credit cards only charge between 2 and 2.75%)

there is a £1.5 charge for currency withdrawal and it states that operators might charge extra. If you withdraw from a Chase ATM at Disneyworld there will be a $2 charge on top of that.

each time you top up your card, there will be the 1.5% charge with a minimum of £3 and a maximum of £50

there is also a £5 when you close the card

it's a rip off in my book, no wonder the lady at the PO wanted to sell it to you, they're making good money on those cards ...

source : https://www.postoffice.travelmoneycard.co.uk/documents/10605/3ee5eb0b-7cd2-473c-8fb4-11faa640d1bb

GirlDreamer is right on this one I'm afraid. We frequently use Travel Money Cards to help us budget, not really for our spending money (cash and credit card) but more for our nieces, especially when we're in the states.

We've used both the Post Office one and Thomson - both are excellent.

You're quite right that there is commission on the money you load onto the card, 1.5%, but we find this quite reasonable. A lot of Travel Card companies charge you for the card, which PO don't. And, if you're loading say £2,000/$3,200 onto the card, you're only paying about £30 commission - this is certainly less than you'd pay in bank fee's if you were to use your standard bank card multiple times during the trip.

I think you're confused about how the card works. It's not a standard any country card. You specify the country and the currancy. So, if you're travelling to the US, you get a US card with US dollars on it.

You do not pay any fee's for using that card within the US ("Fee when used inside country of currency on the card - Nil"). You would however, have to pay a fee if for example you got home and wanted to use up what's left - this is because you're effectively using a US dollars on the card to pay for something in British Pounds.

My only sticking point is that you do have to pay for cash withdrawals. But, we never take cash out on the card - we get dollars for that, and we only use the card for purchases at a till point.

I absolutely object to the idea it's a 'rip off'. We do have the option to take a credit card with us, but not everyone does. It's a fantastic idea for those that aren't in that position, or those that want to budget in advance as you can save up and then it's all in one place, without you having any big bills at the end of your holiday!

Do shop around though if you're considering this as there are so many different types.

However, as some have said - if you are able to, consider taking a no charge credit card. Although, worth pointing out that most credit cards will still charge for cash withdrawals. Still, good for 'emergencies' or, as I put it, things that I simply cannot not buy

xxxxx