Various Topics on Australia - New Zealand

09-08-2003

Barry Ward <bazza1@ihug.com.auwrote:

Quote:

If you purchase AMEX Travellers Cheques -- it will only cost you 1% of the
amount purchased at the the Exchange Rate that AMEX offers at the time of
purchase---

AMEX has an agreement with a number of Banks here in Australia where you can
cash your AMEX cheques commission free-- find out before you leave which
banks these are. And purchase a small amount of Aussie dollars ($200 say)
before you leave home.

This is what I have done in the past when travelling overseas from Australia
and it has worked OK for me -- it's much easier to get you money back if
your Cheques are lost/stolen than a lost/stolen Credit card.

Barry

As said before, let the OP check with *her* bank. *They* are the ones
who do the charging. For example for us, from The Netherlands, a debit
card ("Europas[s]") is cheapest for withdrawals from ATMs, while a
credit card is cheapest for payment of goods and services, etc..

It is the *combination* of costs (charges) *and* exchange rates which
counts. "only 1%" is meaningless if you don't know how good or bad the
exchange rate is.

Quote:

"Carole G" <seattleharpist@hotmail.comwrote in message
news:4b2a79c2.0308280951.528c9c58@posting.google.c om...

Quote:

I've been looking at exchange rates online and purchasing money before
I leave the US. It looks like almost everybody is charging a 10%
surcharge on purchases, including American Express Travel Services.

I usually go directly to a bank when I arrive at a foreign country to
get the best exchange rate. Has anybody done this recently and can
tell me what kind of surcharge they've paid? Also, I'll be arriving
on a Saturday, are AU banks open on Saturdays?

Thanks,

Carole

09-08-2003

"Frank Slootweg" <this@ddress.is.invalidwrote in message
news

C%6b.268509$0W5.7377619@pollux.casema.net...

Quote:

Barry Ward <bazza1@ihug.com.auwrote:
It is the *combination* of costs (charges) *and* exchange rates which
counts. "only 1%" is meaningless if you don't know how good or bad the
exchange rate is.

That is true -- but the exchange rates vary all the time from vendor to
vendor so it is almost impossible to say what is best. But, as I said, AMEX
only charge 1% to issue their Travel Cheques and it is possible to cash them
here in Oz for free, so - providing the AMEX exchange rate is not too bad in
comparison to other vendors at the time of purchase - the "commission" side
of the deal (combined buying and cashing) for the AMEX cheques is not too
bad IMO.

Barry

09-09-2003

Travellers Cheques are a pain to deal with. They are used so infrequently
now that many retail outlets haven't got a clue what to do with them.
Therefore you have to make sure you have exchanged them for cash all the
time. With a credit card and/or a debit card you can transact all the time.

Julie

"Barry Ward" <bazza1@ihug.com.auwrote in message
news:bjif8n$tcq$1@lust.ihug.co.nz...

Quote:

"Frank Slootweg" <this@ddress.is.invalidwrote in message
news

C%6b.268509$0W5.7377619@pollux.casema.net...

Quote:

Barry Ward <bazza1@ihug.com.auwrote:
It is the *combination* of costs (charges) *and* exchange rates which
counts. "only 1%" is meaningless if you don't know how good or bad the
exchange rate is.

That is true -- but the exchange rates vary all the time from vendor to
vendor so it is almost impossible to say what is best. But, as I said,

AMEX

Quote:

only charge 1% to issue their Travel Cheques and it is possible to cash

them

Quote:

here in Oz for free, so - providing the AMEX exchange rate is not too bad

in

Quote:

comparison to other vendors at the time of purchase - the "commission"

side

Quote:

of the deal (combined buying and cashing) for the AMEX cheques is not too
bad IMO.

Barry

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode