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Post by Luna on Jun 21, 2002 11:43:50 GMT -5
Hello!
Do you know if in Greece they are taking any commission for changing traveller cheques in Euros?
No guide book has info about it!
Thanks
Luna
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Post by me on Jun 21, 2002 16:28:36 GMT -5
Luna,
look into AmEx traveller's checks. i'm told one can exchange them without a commission at AmEx offices. Find out if there are offices in the places you are going.
Also, ATM's offer the best rate, often with little or no fee. Ask at your bank about fees they might charge for overseas withdrawl. Also get a 2nd copy of your atm card, in case one is eaten by a machine.
Having a credit card, or two, to use in an emergency can come in handy, too.
- d
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Post by nitsansh on Jun 22, 2002 13:53:40 GMT -5
Why should you change them?? Pay with them!!
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Post by me on Jul 16, 2002 23:07:44 GMT -5
some places refuse to accept payment in traveller's checks. cash is often handier.
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Post by nitsansh on Jul 17, 2002 8:16:38 GMT -5
some other places will accept them. Use them wherever possible.
I don't have particular experience with TC in Greece, but when I used to travel, I found them very useful in UK, France, Germany and Switzerland. It's important to have small notes... some places will take small cheques, but not bigger.
In the old days, I used to pay at hostels with 20 Pounds cheques, and the change was enough for all other expenses for a couple of days.
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Post by Kim on Jul 17, 2002 8:41:24 GMT -5
Agree with some places not accepting them.
Even by paying with them, you don't get a great exchange rate-not like you would at an ATM or using a credit card.
Kim
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Post by nitsansh on Jul 17, 2002 11:41:22 GMT -5
You don't understand! Euro travel cheques are the local currency in all Euro countries. When you pay with them, there's no exchange rate involved, and you pay no commision!
Just like paying with a US$ cheque in USA!
If the price was 5 Pounds and I paid with 20 Pounds cheque, I got 15 Pounds change. No one ever asked for commision.
And as far as I know, you get the same rate when buying or selling travellers cheques as you get with ATM. At least that's the case in my country. It's the commision that might be added to the bill. My experience was the best with Am-Ex cheques. No commision when you buy or sell them at Am-Ex offices.
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Post by Kim on Jul 17, 2002 12:15:02 GMT -5
Right, sorry about the exchange thing.
Not everywhere accepts t/c's though (esp. in Greece!) and if you rely on that as your primary source of money, you will find if someone doesn't accept them you will have to get them cashed, thus paying a commission. Going to an Am-Ex office everytime you want to buy/sell one sounds like a hassle.
Why not just use the ATM's-they are everywhere!
I really just see T/C's as a backup source in case something goes wrong.
Kim
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Post by nitsansh on Jul 17, 2002 12:49:39 GMT -5
I can't tell you what is the situation in Greece. Surely there is AM-Ex office in Athens, but probably not in the islands, save for the most populsr like Mykonos and Santorini. Since Euro was only introduced this year, I guess the Greeks are not used to accept cheques. The German, French and Italian who used to accept Marks, Francs or Lira, will likely accept Euros. The other smaller countries are in the same position as Greece. Travellers Cheques in local currency is a new experience for them, and new habits don't catch up instantly.
In principle, there is no difference between personal cheques and travellers cheques, except for the 2 signatures. If a business accepts personal cheques, there's no reason it would not accept travellers cheques. They are a safe money, because there's no danger of no-coverage. A cheque of Am Ex is more reliable than that of anonimous buyer.
But it all depends on the business. Law only obliges business to accept the legal cash currency in that country. No business is required to accept credit cards either, but many do because that attracts clients. Accepting cheques is just like that, it's the discretion of the business.
ATM are not everywhere as well. They are common in the cities and major tourist attractions, but are few and far between in remote areas of the countryside.
Besides that, not everyone has a credit or ATM card. But everyone can buy TCs.
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Post by nitsansh on Jul 17, 2002 13:03:52 GMT -5
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