travellers cheques in spain

[cfckp1]

I'm travelling to Spain (Barcelona) shortly and have been advised that when travellers cheques are cashed for Euros a charge of 7% per travellers cheque is charged. Can anyone confirm that this is true?

[mushroom25]

unless you really want to, there isn't much need to use traveller's cheques in europe today. change a few quid at the post office before you go for incidentals when you arrive (beer, coffee, bus, etc) then get what you need from atms with your debit card.

[cfckp1]

thanks, contacted debit card provider today and they advised me a charge of 3.75% would be made on ATM transaction, although excahange rate seems good. Was weighing up this rate against travellers cheque charges, seems you're right and I 'll stick to my plastic. Wish I'd thought earlier about applying for Nat West Card where no charges are applied

[dzug]

It's nationwide, not Natwest, that don't charge.

Note that you will pay roughly 5% to buy TCs (hidden in the exchange rate), plus any fees charged in Spain (can neither confirm nor deny that there will be any), so your ATM charge isn't too bad by comparison.

It's better to take out large amounts on your debit card to minimise the effects of fixed charges - taking out a few euros at a time can be costly.