Holiday money question?

Question

going on holiday in europe in couple of weeks, undecided as to take cash, travellers cheques or just use the local atms. Im wondering which would be most cost effective, using atm (& taking the charge) or taking trav cheques and taking the hit with them? Also if i choose travellers cheques should I choose sterling or euro trav cheques? All answers greatly appreciated. Anyone know what the atm charge abroad for Halifax customers is these days? thanks

Answer 1

i am with lloyds bank and when i came over to ireland its a £2.00 charge everytime you take cash out at an atm machine, not sure if its the same with halifax or not!  i would probably take cash myself and keep it really safe! dont leave it in your backback as when i was away somebody took my purse out of my bag so keep it somewhere nobody can get it!   sorry i havent been much help!

Answer 2

Hi

I used ATM when I was abroad and got a better exchange rate then I did for the cash I changed at M & S.

Answer 3

Travellers cheques are very expensive, you pay commission to buy them and commission to cash them. Cash - you will get the normal amex rate in most banks in mainland europe, less in a lot of currency exchanges. If your bank charges £2 per withdrawl, use the atm's and draw say €300 a time.

Also suggest you change your bank to Nationwide, no fee plus full mid rate for exchange.

Nationwide were exhanging (fee free) in atm over €1.26 to the pound when the amex rate was only €1.21 to the pound - in France at least that means the equivalent of a dinner for one free every time you draw out around €150!

Answer 4

if you take travellers cheques take euro ones, I take cash too but thats a bit risky if it gets stolen you have no come backs

Answer 5

I always take travellers cheques with me. Even though there's a charge it's a lot safer than taking your card out everywhere with you. ATM charges abroad are robberies, i've done that once and charges nearly came to half the amount i withdrew!

If you do choose cheques get euro's, there's no point in getting sterling if your going into europe as less places will accept them.

Answer 6

Hello .  travellers cheques are not a good idea in Europe. A lot of places don't acept them and sometimes you have to pay huge commissions too so...it's not in my advises!

How long are you going to stay? Take some cash with you. If you stay longer than 1 month take 600/700€ a put them in a money belt. In your wallet only the money of the day. Then a Atm Card (commission are arounf 5/7 € so....better if you get the maximum you can and not small amount like 50 €!! Anyway the exchange rate will be the best you can get...much better than changing cash. Take also a Credit Card with you. In this way you won't have any problem. Greetings and Enjoy Europe