Travellers cheque mixup

[david small]

I am going to India very soon and asked my bank for �200 worth of traveller's cheques. They gave it to me in dollars, cost me �202 or near it. My question, exchange rate is 1.85 to the pound I paid 1.77 to the pound. Have I lost out? Considering I will be using rupee's why the hassle of converting from dollars to rupee's  to Pounds, to find out what I'm spending. Why didn't they  just give me sterling cheques? Incidentally, I do not even know what traveller's cheques look like, or how to spend them.

[Ammy]

Different places give different exchange rates. So even though there is an offical rate at any one time of day, that doesn't mean its the rate that you will get. ie the Post Office offers a differnt rate to Natwest as will Going Places.

If you ask for sterling they would give it to you, its sounds like you didnt specify which one you wanted. If you did specify then you should get a refund from them. Plus dollars are the most useful currency when travelling. It is sometimes easier to change those rather than sterling.

Travellers cheques vary in excat appearence, but they are kinda like a much thicker version of money, but not (if that makes any sense at all!).

Normally you would take them to a bank or bureau de change in India and change up the cheques into cash as and when you need it. You need your passport to do this. You can actually use them in some shops as is, though this mainly in the US.

 

[david small]

Thank you ammy