Where is the best place to get travellers cheques?

[MrsJobba1]

Hi guys

We have a PO CC but we always end up just gettting our travellers Chqs form the Post office. Is there a better way or place. We like the idea of having some Travellers chequs as you can easily cash them and see where you are at.

What do you think?

 

[Disbabe]

Hiya, we only buy travellers cheques and cash as well and have got half. I have looked and you get a better rate if you buy online from the post office. We don't buy small amounts as they charge for delivery under £500 but the rate was 1.5603 for cheques and 1.55 for cash. Every time I look its going up so keeping fingers crossed it continues as it'll be a few more weeks till I can purchase the other half of our spending money, but would defo buy online as its guaranteed next day if purchased by 12 noon

 

[Goofyish]

We have used OnlineFX in the past for $$ and $ travellors cheques.

There rate today is 1.5629 with free delivery if you order over £300 worth with a debit card.

Same rate for cash as well.

http://www.onlinefx.co.uk/

 

[Ware Bears]

I like to take some TC too ~ I've always bought mine from M&S as they always seem to have the best rate when I've looked. If you pay for them with a M&S card there's no fee.

 

[jen_uk]

I always get mine from M&S, they seem to have the best rate on the high street, they are 1.56 today. You don't pay any charges either

 

[Twilight Terror]

Agreed. M&S always seem to be just that little bit more than the PO. It's where I get mine, and as said above, if you pay with a M&S credit card you don't pay the fee. For anyone buying from M&S with a card (debit or credit), you will need to take your passport as photo id!

 

[jen_uk]

A driving licence is ok as well

 

[TOONMADLAD]

For the best rates try this tool http://travelmoney.moneysavingexpert.com/ I always use this when I get my T-cheques, they deliver next day and i've never had any problems.

 

[MrsJobba1]

Hi thanks for all the replies

Just wondering - if you get too many is it best to cash them and keep the dollars or is it easy to return them?

Thanks

 

[jen_uk]

Its very easy to return them, just take them back (with photo ID) and they will give you the cash

 

[wayneg]

It is very easy to return PO T/C's to any branch for exchange back to £UK's but remember they don't give you the rate you paid, today the rate is $1.7611, its just about the worst thing you can do is swap back.

EG Buy £500 of T/C's with $200 to change back
You will get $786 at todays rate of $1.572, your $200 left will get you £113.57 back (cost you £127.23) losing £13.66(10%)

Using your fee free credit card instead of the above exchanging of T/C's will get you a better rate of $1.64, in effect saving you £29.11, or $47.74

These saving can be significantly more if the exchange rate increases(as it did for us last week) between you buying and the time you would use a fee free card, on the other hand if the rate drops you could possibly be better off buying the T/C's

 

[bombhead444]

My local Tesco's has a exchange kiosk in it and they always seem to beat high street exchange rates, can never figure out why and am not complaining. Today we boughts some $'s and got them at $1.59.7.
Lets hope it keeps climbing so my DW's insatiable holiday shopping habits dont bankrupt me!!!!

 

[Disbabe]

Wow - exchange rate up again! Tesco = 1.5877 (online) Post Office = 1.5864. Checked on Marks and Spencer due to the number of peeps above saying best rate on high street and they're only offering 1.5613 - obviously not the best?? Even checked with onlinefx and their rate is 1.5808!!

 

[jen_uk]

The post office rate is only online and then I think there is a minimum order if you don't want to pay a charge. My local post office rate is only 1.42 M&S are the best high street rate, you will find better online but I prefer to do it in person.