Which will offer the best exchange rate: banks, bureaux de change, shops or hotels?
This can vary. Shop around for the best deal. Why can’t I just cash my own cheque abroad? Many banks abroad, particularly in the more popular tourist areas, will cash your own cheque if it is supported by a valid cheque guarantee card. You may however be charged a higher commission by the bank cashing it. Check with your bank before you go, but we would recommend that you take currency, travellers cheques or a credit or debit card as well. What about Eurocheques? These have now been withdrawn. The exchange rate I’m offered when I buy (or sell) foreign currency isn’t the same as the one published in the daily press. Why? Exchange rates are continually fluctuating according to wholesale market movements. There is no ‘official’ rate of exchange for any particular currency and different organisations will offer different rates for handling travellers cheques and currency. Make sure you check on the total cost of the transaction though – you may find that an attractive exchange rate is offs
