$2 /£1

[pubmaster2k]

Just been to Thomas Cook on my local high St and they are offering $2 to the £1 for this weekend only, must be in travellers cheques and bought with cash, be quick my shop ran out after my purchase.

[ccarcher]

Sounds good

I managed to get 1.95 for US Dollars from Thomas Exchange in London yesterday commission free

dropped slightly today to 1.948 but still pretty good

They do deliver also if anyone is interested

[christhear]

Just phoned my local TC to check this out. They said it wasa minimum spend of £1000 but you could do it on switch or delta.
Just reserved some to pick up later today - what a bargain.

[ccarcher]

is it travellers cheques only

Checked their online rate for today and currently only 1.88

[christhear]

Yes, Travellers cheques only and minimum £1000 spend

[markburwood]

<blockquote id="quote" class="ffs">quote:Originally posted by christhear
Yes, Travellers cheques only and minimum £1000 spend
[/quote]


And a maximum of £3000

[Robert5988]

What commission do they charge?

i.e. for £1,000 how many $$$ do you get? or is it commission free?

[Katys Grandad]

<blockquote id="quote" class="ffs">quote:Originally posted by Robert5988
What commission do they charge?

i.e. for £1,000 how many $$$ do you get? or is it commission free?
[/quote]

I was wondering the same thing Robert. If you do actually get $2/£1 it is an exceptional deal and they are probably losing money on it.

[christhear]

Went to pick my money up tonight. Yes you do get $2 ti £1. Get in quick though as the offer can be removed at any time.

[pubmaster2k]

NO commission £3000 will get you $6000 not bad eh!!!

[Robert5988]

<blockquote id="quote" class="ffs">quote: Went to pick my money up tonight. Yes you do get $2 ti £1. Get in quick though as the offer can be removed at any time.[/quote]

Can you confirm that is commission free?

[christhear]

<blockquote id="quote" class="ffs">quote:Originally posted by Robert5988
<blockquote id="quote" class="ffs">quote: Went to pick my money up tonight. Yes you do get $2 ti £1. Get in quick though as the offer can be removed at any time.[/quote]

Can you confirm that is commission free?
[/quote]

If you get $2 for each £1 as i said above, there is no commission - remember though minimum transaction £1000, maximum £3000.

[davy woods]

Just a thought about travellers cheques. Can these be paid into your US bank account if you have some left over.

[floridageoff]

<blockquote id="quote" class="ffs">quote:Originally posted by davy woods
Just a thought about travellers cheques. Can these be paid into your US bank account if you have some left over.
[/quote]We have paid travellers cheques into our account with Wachovia in the past

[MarkJan]

£3000 each it is please. Great deal.

[pieman790]

We have just bought £3000 worth and they told us it was £3000 per household. You do need to take ID and it will take some time especially if you are buying $6000 worth as you will have min 60 cheques to sign or even more if you opt for $50 cheques.
Great deal, even the lady in Thomas Cook could not see why they would run the promotion as they are loosing money on each transaction as the bank rate is below $2 to the pound.
Thanks for the information pubmaster2k [clap][clap][clap]

[glasgowmary]

just ordered mine to , thanks for the info pubmaster2k !!

[Robert5988]

It is certainly a very good deal for T Cheques.

I am in Florida at the moment and I got(yesterday) £1=$1.9856 for cash using Nationwide Debit card and the same for Nationwide Credit Card.

So I suppose that Thomas Cook are banking(pun intended) that people will hang on to their TCs for some weeks or months and the interest they get on their money will enable them to break even.

I guess that Thomas Cook must do something to try to get people to use TCs as their use must surely be dropping. I haven't used them in the USA for many years(my parents used them) as I cannot see any advantage in using them. With 'Plastic', High Street USA is the same as High Street UK and I don't use TCs in UK!

[ccarcher]

Just went and got mine from the local branch, they have the offer on their internal system, although not advertised in store strangely enough

Offer started yesterday until close of business on Monday or until they run out [msncry]!

Hope you all get a share, cant see the rate going much higher if at all this summer

And yes Its commission free

Although its a great rate I really can't be done with TC's for spending money in the US, I agree with Robert I just can't see the advantage and I find using them a real pain in the b**t when in the US[msnwink]

[pieman790]

We travel 2 or 3 times a year to the US and alway take/use travelers cheques. Never had a problem using them and never had anyone refuse to accept them. Cannot understand why you would feel they are pain especially at the rate they are offering.
Based on the rates i was quoted last night at Thomas Cook you are getting an extra 7% more dollars with the cheques which on a £3000 spend is £210 or $420, more money in your pocket.
Appreciate that some people with a Nationwide Debt/Credit card may get a good rate but i personally don't bank with them. At least this way i am sure that i will be getting $2 to the £ when i next travel. Yes the rate may have gone up but on the other hand it may have dropped but i am more than happy to accept this rate as i was only getting $1.82 this time last year.

<blockquote id="quote" class="ffs">quote:Originally posted by Mach 2
Although its a great rate I really can't be done with TC's for spending money in the US, I agree with Robert I just can't see the advantage and I find using them a real pain in the b**t when in the US[msnwink]
[/quote]

[ccarcher]

whats the hastle, they are as widely accepted in the US as US Dollar Bills

Money for nothing sounds good to me whoever its from[clap]

[pubmaster2k]

Glad I could help you all, I certainly have no problem spending T.C's they are as good as cash plus there is the added security if they are stolen of getting them replaced in 24 hours, roll on Sunday morning, we are on our way.

I know what you are all saying and as I have been going to Florida and the US for more than 25 years I am well aware of the security aspect but all I am saying is for ME personally I do not find they are as easy as cash, you have to have ID and often they don't like taking $50 TC's in my experience so although its a fabulous rate (I was flying on Concorde to NY twice a week the last time it was $2/£1 so did a lot of shopping[msnwink][msnwink][msnwink]) TC are just not for me anymore [msnwink]

I am planning to open a Nationwide account though[msnwink]

Well done to all those who did get them though[clap][clap][clap]

[Robert5988]

<blockquote id="quote" class="ffs">quote:We travel 2 or 3 times a year to the US and alway take/use travelers cheques. Never had a problem using them and never had anyone refuse to accept them. Cannot understand why you would feel they are pain especially at the rate they are offering.
Based on the rates i was quoted last night at Thomas Cook you are getting an extra 7% more dollars with the cheques which on a £3000 spend is £210 or $420, more money in your pocket.
Appreciate that some people with a Nationwide Debt/Credit card may get a good rate but i personally don't bank with them. At least this way i am sure that i will be getting $2 to the £ when i next travel. Yes the rate may have gone up but on the other hand it may have dropped but i am more than happy to accept this rate as i was only getting $1.82 this time last year.
[/quote]

We are getting a bit confused here methinks!

Nobody is arguing that the rate of £1 = $2 is excellent for TCs if that is your preferred method of obtaining currency; and we stated that above.

The point myself and Mach2 were making(and you have commented on) was that plastic is much more convenient than TC and most of the time considerably cheaper.

Your figures are really ‘creative accounting’ if you are comparing costs, of even the $2 TCs, against plastic.

Firstly where does the 7% come from? Even the worse Banks only load the Visa rate on their cards by 2.75%

Secondly you don’t have to bank with Nationwide to obtain their credit card.

As stated above the rate for Nationwide is £1 = $1.9856.

For $6000 worth of TCs you have to pay £3,000 today. Most people will be getting that currency for the summer. With Nationwide plastic for $6,000 you will pay £3,022. However you will not have to pay that until September so you can keep your money in the Building Society which at, say 5.5% interest is approx £55.

So even at the exceptional rate of $2 for TCs you are still better off using Nationwide plastic. If you keep the money for future visits you lose even more interest!

Even taking a the worst case for plastic(loaded by 2.75%) you will not be much worse off and you will get airmiles or cashback for your spend.

My objection to TCs is normally the dreadful exchange rate. For the TCs under discussion you have to go into town to pick them up. From what I remember to cash TCs you have to produce a passport etc.

What could be easier than using plastic in exactly the same way as you do in UK. What possible advantage is there in using TCs? Plastic is just as secure. Using them in the USA is a throwback to the age of financial dinosaurs.

[Lynne S]

I always use my Nationwide debit card now and during our trip at Easter we got between $1.96 and $2.004 to the £.
But I never had a problem using TC's during our first couple of trips to the US, I have never found using them to be a problem either.
Even using a card you need to show ID in some places just like when you are using TC's [msnwink]

Well done Errol for spotting a great deal and passing it on to members of the forum.

Have a great holiday. [8D][8D][8D] Only 20 more sleeps until I go back again[8D]

[christhear]

Thomas cook made their money from me with this deal. Went in to get some travellers cheques yesterday, saw a good cruise deal on the Ventura next summer and went back to book it today - The villa is booked for 3 weeks of next summer holidays so couldn't use it anyway and have always said we would go on a cruise.
What theyv'e lost on th eTravellers cheques they have probably gained on selling the cruise.

[pieman790]

Firstly for anybody that has never used TC in the US they are widely accepted and do not be put off by some of the comments placed on this thread that they are outdated. You can pay for almost anything with them and they give you the change in dollars. I do agree that the normal exchange rate is about 8-10 cents below the bank rate and the debt card maybe the better option but at this rate the TC maybe the better option.
Yes i agree that plastic cards are convenient but as most places in the US do not have chip in pin yet you can still be asked for ID. I carry my driving licence around with me all the time as it is something you to have with you if you drive in Florida as it maybe required by the Police if you are stopped.
All you have to do with a TC is sign it which is what you have to do with a plastic card in the US so no differance there.
As for my creative accounting you mention if you actually read my thread the 7% is the difference between what i was quoted for cash against TC's yesterday. Agree if you have a Nationwide debt/credit card and can get the rates you quote at the moment then you are doing well as the bank rate today is $1.9845 but who knows what the rate will be in three months time.
I do agree what works for one person my not work for another and it goes down to peoples preferences.

[MTP]

I wonder how Thomas Cook have to buy their travellers cheques - if they have pre-bought a stack and people are using plastic more perhaps they are just getting rid of them.

[Robert5988]

<blockquote id="quote" class="ffs">quote:Firstly for anybody that has never used TC in the US they are widely accepted and do not be put off by some of the comments placed on this thread that they are outdated. You can pay for almost anything with them and they give you the change in dollars. I do agree that the normal exchange rate is about 8-10 cents below the bank rate and the debt card maybe the better option but at this rate the TC maybe the better option.
Yes i agree that plastic cards are convenient but as most places in the US do not have chip in pin yet you can still be asked for ID. I carry my driving licence around with me all the time as it is something you to have with you if you drive in Florida as it maybe required by the Police if you are stopped.
All you have to do with a TC is sign it which is what you have to do with a plastic card in the US so no differance there.
As for my creative accounting you mention if you actually read my thread the 7% is the difference between what i was quoted for cash against TC's yesterday. Agree if you have a Nationwide debt/credit card and can get the rates you quote at the moment then you are doing well as the bank rate today is $1.9845 but who knows what the rate will be in three months time.
I do agree what works for one person my not work for another and it goes down to peoples preferences.
[/quote]

We are getting at cross purposes here.

I did actually read your post and when you quoted a 7% difference you didn't mention that was against getting cash. As it was in reply to the posts about Plastic I took it in that context.

I have not implied that TCs are not widely acceptable in the USA; and also that at £1=$2 there is little to choose between those TCs and plastic.

As you state there is just as much chance of the $ weakening against the £ as strengthening so that is a double edged sword.

The overall point I was making is that IMO there is not a single advantage of using TCs over plastic, and apart from this 'special' offer, most of the time there is a considerable finacial loss in using TCs.

Obviously people can get hold of currency in any way they want and I am not making any criticism of them. However despite all said above I simply cannot understand why people still use them in preference to plastic; and nobody has given any explantion of why they still find favour.

[pieman790]

I work for a Bank. We advise our customers to take different forms of payments such as Cash, Travellers cheques and debt cards when they travel abroad. The reason for this is , is to ensure that all options are available to the customer if anything was to happen.
Many customers do contact the bank and ask why their debt/credit cards are not working, not only abroad but in this country as well. The answer to this is the machine they are using is not responding/damaged or more frequently their cards are damaged. This leaves the customer with a problem if they have only taken their debt card abroad. The bank i work for is very large and does have branches in the US but they operate separately to the UK ones and a new card cannot be sent to US branch. Yes you can use the credit card but will have to pay a cash advance fee (normally 2.5%) and then interest on the cash advance which is anything over 18%.
We take all 3 types of payments with us (Cash, TC, Cards) and never had a problem to date.

[Nikki D]

Thanks very much Errol for letting us know this great rate for travelers cheques. I was about to get mine from the bank till you posted this. I picked mine up yesterday from thomas cook. Thanks again [clap][clap][clap][clap]

[markburwood]

And a big thanks from me Errol. We ordered ours today and will pick up later in the week as the Weymouth branch had run out.

Thanks again :D:D[msnwink]

[davy woods]

I bought my TC yesterday and I have to say a big thank you also to you Errol. When I spoke to travel assistant I asked her would they be doing this again and she said that it's highly unlikely. They have never sold travellers cheques at that rate in the 15 years she has worked for them, so it just goes to show we are very lucky.

[solanasunshine]

TC's certainly serve the purpose of convenience in many cases and can be more expensive, however for many people they simply represent a way of being certain of how much people spend - plastic does not suit everyone.

Also plastic does not always represent the esiest way of paying - it may be necessary to use a passport to cash larger TC's but then it usually a good idea to have a passport with you anyway. Equally you will need cash or TC's to make small purchases, leave tips, pay for petrol (some garages expect you to pay for your fuel before you fill up if using a credit card which is difficult - how do you know how much you need) buy food from kiosks etc etc - there are many times when you need cash and over a 2 week holiday the amount can be reasonably high to the extent that many people would prefer not to take cash only but also TC's.

There is nothing wrong or outdated about TC's they serve a purpose, they are safe and they are one of the ways that people can enjoy their holidays without too much hassle.

At the end of the day different things suit different people

[xtratime]

Last time my Nationwide debit card and credit card (Both I and the other half have a separate one each) worked well for me. I was able to withdraw enough cash to provide for all my needs at an excellent rate. The benefit was I not left with with currency I did not need (I spent a lot less than I had planned) and would have had to change back on my return.

[Robert5988]

<blockquote id="quote" class="ffs">quote:Equally you will need cash or TC's to make small purchases, leave tips, pay for petrol (some garages expect you to pay for your fuel before you fill up if using a credit card which is difficult - how do you know how much you need) buy food from kiosks etc etc - there are many times when you need cash and over a 2 week holiday the amount can be reasonably high to the extent that many people would prefer not to take cash only but also TC's.
[/quote]

Agreed we all need cash for the purposes you state. So take a Debit card and get cash from an ATM.

The term 'plastic' is for credit cards(for purchases) and a Debit card for cash from an ATM or purchases if you wish.

<blockquote id="quote" class="ffs">quote:Also plastic does not always represent the esiest way of paying [/quote]

Why not?

I have used plastic (VISA & Mastercard issued by a UK bank) for the past 20 years or so all over the world and never had the slightest problem - including purchases for $thousands for furniture.

As said early, nobody has given a single advantage that TC's have over Plastic. We all use plastic(and not TCs) in UK - why not in the USA?

[Katys Grandad]

The Thomas Cook deal aside, Travellers Cheques are a poor alternative to plastic and cash and are a throwback to a less sophisticated financial culture. I don't buy them when I travel in the UK so why would I do so abroad?

[Jules]

I now tend to use a Nationwide credit card, my US debit card or cash although in the past I have used travellers cheques.
The one advantage the travellers cheques have is that if they are stolen they can be replaced providing you keep a record of the cheque number seperate from the cheques themselves. I once had my purse stolen on holiday it contained my credit cards, some cash and some travellers checks. I stopped my cards but was unable to get replacements until I got home. I had to make the cash and travellers cheques I had left back in the safe last me until the end of the holiday. I was very grateful for the fact that I could get the stolen travellers cheques replaced at a local bank, those few extra dollars made all the difference to the last week of our holiday. The only reason I don't use them now is because I have a US bank account so have access to cash.

[pieman790]

I think Julie's story points out why you should take other alternatives to your debt/credit cards.

[Katys Grandad]

<blockquote id="quote" class="ffs">quote:Originally posted by pieman790
I think Julie's story points out why you should take other alternatives to your debt/credit cards.


[/quote]

Yes - cash.[msnwink]

Seriously, if people feel that they need the perceived security of travellers cheques, then they have that choice. My point is that, in reality, you are pretty unlikely to need it.

From a pure financial and value perspective, TC's are vastly inferior to cash and plastic. I travel to the US frequently and haven't used TC's for many years. I can honestly say I have never felt that I needed them or regretted not having them with me.

[Robert5988]

<blockquote id="quote" class="ffs">quote:The one advantage the travellers cheques have is that if they are stolen they can be replaced providing you keep a record of the cheque number seperate from the cheques themselves. I once had my purse stolen on holiday it contained my credit cards, some cash and some travellers checks. I stopped my cards but was unable to get replacements until I got home.[/quote]

In the unlikely event of all your cards being stolen(and your partner's cards) your Bank or credit card company will make arrangements for you to collect money from a local bank(if they can't get replacement cards to you)

You can either use your cheque book, or the local bank will get you to sign for the money.

[florida4sun]

If you are a frequent traveller it is worth while getting an Amex card. We have twice lost ana amex once in the bahamas and once in france. The Amex overnighted a new card to the hotel each time, the service is 1st class. The premium amex cards also got us some good discounts and upgrades, most of all it got us into the private lounges where available. Even if you do not use it it is well worth having for travel.

<blockquote id="quote" class="ffs">quote:Originally posted by Jules
I now tend to use a Nationwide credit card, my US debit card or cash although in the past I have used travellers cheques.
The one advantage the travellers cheques have is that if they are stolen they can be replaced providing you keep a record of the cheque number seperate from the cheques themselves. I once had my purse stolen on holiday it contained my credit cards, some cash and some travellers checks. I stopped my cards but was unable to get replacements until I got home. I had to make the cash and travellers cheques I had left back in the safe last me until the end of the holiday. I was very grateful for the fact that I could get the stolen travellers cheques replaced at a local bank, those few extra dollars made all the difference to the last week of our holiday. The only reason I don't use them now is because I have a US bank account so have access to cash.
[/quote]

[millie]

Got my $2 for £1 travellers cheques today! I asked about the exchange rate as there was no posters or any other info and she asked me if I had seen the promotion - I said yes and then she told me about the offer. They had run out but I paid in full and have to collect them on Thursday. Really pleased.

I also got 1.93 for my notes. (girls wanted to change the money in their banks!).

All the more the spend when we get there.
Only 53 weeks to go!

[christhear]

<span style="color:red">All the more the spend when we get there.
Only 53 weeks to go!</span id="red">

Wow, you are getting the money whilst the rate is good. I'm sure the kids will have a bit more saved up by the time you go

[Jules]

<blockquote id="quote" class="ffs">quote:Originally posted by Robert5988
<blockquote id="quote" class="ffs">quote:The one advantage the travellers cheques have is that if they are stolen they can be replaced providing you keep a record of the cheque number seperate from the cheques themselves. I once had my purse stolen on holiday it contained my credit cards, some cash and some travellers checks. I stopped my cards but was unable to get replacements until I got home.[/quote]

In the unlikely event of all your cards being stolen(and your partner's cards) your Bank or credit card company will make arrangements for you to collect money from a local bank(if they can't get replacement cards to you)

You can either use your cheque book, or the local bank will get you to sign for the money.


[/quote]

Unfortunately Robert this was about 4 years ago and at the time I only had 2 credit cards which were the same as my husbands, so we were "cardless" for the remainder of our holiday.

The credit card companies were less than helpful despite several long phone calls. The best they either or them could come up with was replacements to our home address or for relatives to send us money via Western Union. I asked about replacement cards being delivered to us in the US and they said they needed a minimum of 7 working days to arrange that by which time we would be back home!

They never offered to make any arrangements for us to get cash from a local bank and to be honest their attitude when we explained how little money we had for the rest of the holiday was "tough".

One thing it did teach us was how to holiday on a shoe string.

[millie]

<blockquote id="quote" class="ffs">quote:Originally posted by christhear
<span style="color:red">All the more the spend when we get there.
Only 53 weeks to go!</span id="red">

Wow, you are getting the money whilst the rate is good. I'm sure the kids will have a bit more saved up by the time you go
[/quote]

I know. I'm an early planner. We thought the rate was too good to pass up. Its better than just sitting there and then maybe not getting such a good deal.

53 weeks isn't that long. We started at 150!
L

[Robert5988]

Jules,
Agreed you had a bad experience but, with respect, it is not as if losing all your cards is an every day experience; and it is hardly justification for spending a stack more on TCs.

You can.
Only carry one card, leaving the other in villa/hotel.

If accompanied split the cards between you.

Take a UK cheque book - most US banks will honour the cheque after consulting your bank.

Most(all) UK banks will wire money to a USA bank. Only takes a telephone call.

Friends/relatives will wire money etc.

Losing TCs means a lot of trouble as well - obtain police report, all numbers of spent cheques to be detailed etc.

[derek birchenough]

Many thanks to Pubmaster for highlighting this special offer, picked ours yesterday from Thomas Cook, having ordered and paid for them on Monday.

Gave us extra spending money for our forth coming trip.

Thanks Pubmaster[clap]

Derek