Sterling or dollar travellers cheques?

Sterling or dollar travellers cheques?

Author
Discussion

The Londoner

Original Poster:

3,959 posts

239 months

Wednesday 7th March 2007
quotequote all
Going to Japan in a few weeks on holiday and need to take some travellers cheques for spending money etc when the credit card won't do nicely. Also don't want to travel with large amounts of currency. Any views on which travellers cheques are the best bet?

jim hobbs

117 posts

262 months

Wednesday 7th March 2007
quotequote all
I always use a cash card { NOT a credit card} in a cash dispenser everywhere I go in the world. Just find a dispenser that has the same symbols, they are readily available in Japan. Much cheaper and easier to use than outdated travellers cheques. Just make sure you have enough money in your account to cover the withdrawals. Travellers cheques are very expensive, just look at the exchange rate they give you and the fees for cashing them in.

rsvmilly

11,288 posts

242 months

Wednesday 7th March 2007
quotequote all
And if you've a Nationwide ATM debit card then you don't even pay cash advance charges. You also get a much better exchange rate than other card providers.

www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1106765397,71685,

richburley

2,432 posts

254 months

Wednesday 7th March 2007
quotequote all
jim hobbs said:
I always use a cash card { NOT a credit card} in a cash dispenser everywhere I go in the world. Just find a dispenser that has the same symbols, they are readily available in Japan. Much cheaper and easier to use than outdated travellers cheques. Just make sure you have enough money in your account to cover the withdrawals. Travellers cheques are very expensive, just look at the exchange rate they give you and the fees for cashing them in.


Seconded

tigger1

8,402 posts

222 months

Wednesday 7th March 2007
quotequote all
richburley said:
jim hobbs said:
I always use a cash card { NOT a credit card} in a cash dispenser everywhere I go in the world. Just find a dispenser that has the same symbols, they are readily available in Japan. Much cheaper and easier to use than outdated travellers cheques. Just make sure you have enough money in your account to cover the withdrawals. Travellers cheques are very expensive, just look at the exchange rate they give you and the fees for cashing them in.


Seconded

Not so great if you're going somewhere a bit more remote though.

rsvmilly

11,288 posts

242 months

Wednesday 7th March 2007
quotequote all
Tesco Money do UKP travellers cheques. The only extra is the postage of them; ie £100 of travellers cheques will cost you £105.

HotTotty

807 posts

208 months

Wednesday 7th March 2007
quotequote all
Yen or US$ ones, travellers' cheques are not readily accepted as payment in stores or restaurants. Cash and credit card are the most common means of payment in Japan.

The Londoner

Original Poster:

3,959 posts

239 months

Wednesday 7th March 2007
quotequote all
jim hobbs said:
I always use a cash card { NOT a credit card} in a cash dispenser everywhere I go in the world. Just find a dispenser that has the same symbols, they are readily available in Japan. Much cheaper and easier to use than outdated travellers cheques. Just make sure you have enough money in your account to cover the withdrawals. Travellers cheques are very expensive, just look at the exchange rate they give you and the fees for cashing them in.


By "cash card" do you mean a debit card? I've got a Connect Visa card, is that going to work over there?

rsvmilly

11,288 posts

242 months

Wednesday 7th March 2007
quotequote all
The Londoner said:
jim hobbs said:
I always use a cash card { NOT a credit card} in a cash dispenser everywhere I go in the world. Just find a dispenser that has the same symbols, they are readily available in Japan. Much cheaper and easier to use than outdated travellers cheques. Just make sure you have enough money in your account to cover the withdrawals. Travellers cheques are very expensive, just look at the exchange rate they give you and the fees for cashing them in.


By "cash card" do you mean a debit card? I've got a Connect Visa card, is that going to work over there?
Yes

jim hobbs

117 posts

262 months

Thursday 8th March 2007
quotequote all
I think you call, what I call a cash card, an ATM debit card. VISA debit cards are accepted nearly everywhere in Asia at ATM's and Visa credit card at nearly all venues. Cash or credit card is the norm in Japan at venues. If you decide on travellers cheques when you buy them to go to Asia there is no use having them in Sterling. You will need US$. They might appear attractive to buy, only costing postage and as a mailer stated £105 buys you £100. Wait till to try to convert them to cash and compare the exchange rate, you will be robbed blind. The only advantage that I can find for Travellers cheques is that if you are unfortunate enough to be robbed and supposing that you still have the serial numbers available to you, you can get replacement travellers cheques whilst you are on holiday. Also travellers cheques will not be accepted at venues.
Just about every town, village, station and airport has ATM's. Always take out more than you need and top up regularly because your bank may charge you per transaction not per amount withdrawn.
Be careful at ATM machines though it is an easy place to be robbed. Even though the screens will initially be in Japanese DO not accept help from seemingly helpful locals.
Have a nice Spring holiday.

rsvmilly

11,288 posts

242 months

Thursday 8th March 2007
quotequote all
jim hobbs said:
I think you call, what I call a cash card, an ATM debit card. VISA debit cards are accepted nearly everywhere in Asia at ATM's and Visa credit card at nearly all venues. Cash or credit card is the norm in Japan at venues. If you decide on travellers cheques when you buy them to go to Asia there is no use having them in Sterling. You will need US$. They might appear attractive to buy, only costing postage and as a mailer stated £105 buys you £100. Wait till to try to convert them to cash and compare the exchange rate, you will be robbed blind. The only advantage that I can find for Travellers cheques is that if you are unfortunate enough to be robbed and supposing that you still have the serial numbers available to you, you can get replacement travellers cheques whilst you are on holiday. Also travellers cheques will not be accepted at venues.
Just about every town, village, station and airport has ATM's. Always take out more than you need and top up regularly because your bank may charge you per transaction not per amount withdrawn.

You are dead right about the travellers cheques. I just keep a couple of hundred as a backup fund when I go abroad. I have only needed them on more remote Thai islands - and you do get stuffed on the conversion.

So I always use my Nationwide card which as I mentioned previously, has the benefit of no withdrawal charges.

The Londoner

Original Poster:

3,959 posts

239 months

Thursday 8th March 2007
quotequote all
Cheers for the advice everyone thumbup

Kamiga

17 posts

208 months

Monday 12th March 2007
quotequote all
I am currently staying in asia. Been in Singapore for 3months now, but also travelled around. From my experience credit cards are the best option, although as it was mentioned most cash machines charge per transaction so it’s wise to take out more. As far as traveller cheques are concerned, they are usually advised by travel agencies but are not very convenient. In Singapore pound sterling cheques are the best option thou. In Japan I would say take US dollar ones.