Foreign currency

[Soph20]

1) Why are there different ways of getting your money i.e. travellers cheques, foreign currency notes/coins and a travel money card? Is there any type thats better than the other?

2) I know that the higher the number the better the rate of exchange but I don't understand it fully. I want to change �150 to euros and I see asda is coming up as best rate of exchange that I could get in time but how do I know how much my money is worth over there? I guess I need to find out how much 1 euro is worth against the pound.

I'm going to mallorca next Tues.

[sir.prize]

Here you can check the value of your money

http://www.xe.com/ucc/full/

1 EUR = 0.793237 GBP 1 GBP = 1.26066 EUR

[08012006]

I'd forget Travellers Cheques. I get my euros at the local Post Office, not least for convenience

[Soph20]

Thanks for replying.

Whats the difference between them though? Is any one type better than the other?

[sammy snake]

Well travellers cheques are usually insured so if they are lost or stolen, you get them replaced. Cash would just be lost.

[Soph20]

Ok thanks and does anyone know about the travel money card?

[dzug]

The travel money card is a sort of electronic travellers cheque, usually (but not always) costing you a little more than other methods.

[martissylvester]

Buying a foreign exchange has become easier than it was a decade ago. Banks these days have come an extra mile to provide their customer with many more relevant products. One of them is fund transfer or carrying foreign exchange via travel card.