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MainMoney Matters – rates for GBP travellers cheques and GBP sterling cash All Topics

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Mr Alan

Quote: from Broken Leg on 3:50 am on Dec. 14, 2004
Credit card and ATM rates are allways better than travellers checks/ cash rates. I think it's cheapest to travel with these, any losses are insured and you can allways have a few travellers checks in reserve should you lose your cards. However the Credit Card /ATM rate will allways be a few points less than the interbank rate because of the volatility of the currency markets.
I don't know about your bankcard (Visa or Mastercard) or credit card company (American Express, Diners Club, etc), but most of the credit card exchage rates I have looked at are a rip-off. The quoted base exchange rate may be good, but they add another 2-3% on top of that when they do a currency exchange.


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Posted on: 5:14 am on Dec. 15, 2004
     

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