Nowhere does travels cheques? What about Card Passport online? Ideas?

Gaerth

Hi,

I'm going to go travelling in February and I already have a far bit saved but I am worried the Euro could potentially devalue or there could be a euro default. I know the chances of this are remote but there is no harm is hedging my bets. I was planning to change my money to travels cheques (which would have been perfect) but nowhere seems to do them anymore? (Not BOI or Ulster bank anyway)

I have searched around online and see Thomas Cook and AAA offer some sort of credit card that you top up in a foreign currency. Only problem is, this service is offered in the United Kingdom and all transaction must be done in GBP. So if I want dollars I have to exchange Euro for Pounds and then Pounds for dollars at low rates and have two commission charges.

In Summary, I want to buy foreign currency and am most likely going to cash it abroad when I am away in 7 months time. Anybody have any ideas?


Thanks,

coylemj

You are listening to too many scaremongers. The Euro is the currency of most of the major countries in Europe, including Germany and France. There isn't going to be a 'euro default'.

Do you seriously think that we're going to wake up some morning and the euros in our purses and wallets will be as worthless as Confederate dollars?

What might happen is that Greece defaults on it's debts and is kicked out of the Euro but euro notes are not suddenly going to become worthless overnight.

Gaerth

Thank you for your comment but I am aware that “major countries in Europe, including Germany and France” are in the Euro. As I said in my post “I know the chances of this (a default) are remote” which is to say – I think that it very unlikely to happen but not impossible. I am far more concerned that it will devalue though (just to be clear - not talking about it going to zero or anywhere near that over night).

So when there is a good currency exchange rate with the dollar or pound I wanted to know could I buy that currency somewhere. So if I think there is a good currency exchange rate between the Euro and the dollar or pound, then is there somewhere I can buy that currency? Kind of like how travelers cheques worked.

Thanks,

cooperguy

Travellers cheques are not a good idea anyway. Commission to turn your money into cheques and again to get your money back.

Were never really a good idea for travelling cause of that either!

realdanbreen

Are you travelling to a non Euro country?

Jim2007

Gaerth wrote: »

Kind of like how travelers cheques worked.

Where exactly are you going to be? In many countries travelers checks are a thing of the past! Which is why most banks do not offer them anymore.

Jim

Gaerth

I will mainly be in South America. Most of the countries in SA have currencies that are heavily aligned to the US Dollar and their federal reserve’s would mainly be in USD. So I know that travelers cheques are difficult to get and will most likely be as difficult to cash. Also, there is a commission on them (think is about 2%). So I am ruling travelers cheques out as an option.

I just wanted to see if there was there alternative somewhere. Apart from going to the bank and withdrawing a lot of dollars, is there another way I can get them? Something like a credit card where I can top it up with a lot of dollars now?

Thanks

coylemj

The exchange rate today is 1 EUR = 1.339 USD (Yahoo Finance) so I'd do nothing for the moment, you would be converting at a very bad rate.

Gaerth

That is a poor exchange currency rate for the Euro but if the time comes and it is about 1.44 or so then I want to find out is there a way I can capitalise on that?

So does anybody know where I can but dollars other than taking cash out of the bank? Like putting it on a card?

Thanks

realdanbreen

You appear to be getting a bit stressed before you even make it to the airport!
Are you going for business or pleasure?

Gaerth

I have asked the same question a few times now so I do see how you might think I am getting stressed. Fortunatley though, I am not stressed but thank you for your concern.


I really don’t seem how it is relevant whether my trip is for pleasue or buisness? I’m all for chatting but people seem to be ignoring my question. I'm just going assume nobody knows the answer to it.

AstonMartin

Travel agents are going bust at a high rate. I would not leave your money on deposit with them, you have less protection also.

Gaerth

Travel agents?

Travels cheques are not insured by them. It would generally be American express or the bank of America.