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  • travellers cheques

    oh god, this is going to sound really stupid, but where can i get travellers checks? i have always used cash when i travel

    alternatively, has anyone used their UOB credit card to withdraw money from overseas before? i've surfed the UOB website but there isnt anything useful there. i'm holding a lady's card and also a visa mini. i have no idea if i can use the ATM machines in canada or if i can just go to the bank and withdraw money. anyone has any idea what the charges are like? :huh:

    any help is greatly appreciated

  • #2
    Yes, you should be able to use your Visa to withdraw money from ATM overseas provided you have the pin and the ATM has the function (most do). Not too sure about the charges but it's a percentage i think. As for travellers check, i usually get American Express ones.

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    • #3
      Lumos, not a stupid question at all.

      You should be able to do that. I've withdrawn money successfully with my card in mostly asian countries, like M'sia, Thailand, Taiwan and HK. I've never bothered checking the rates so I can't help in that question.

      For traveller's cheques, get from American Express as it's widely used. There's a American Express office at The Concourse.

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      • #4
        Re: travellers checks

        Hey lumos,

        From what I was told, the visa mini isn't accepted anywhere else in the world. So, the UOB lady's card would be a safer bet.

        Beware of the high charges from credit card companies when you make these withdrawals. Alternatively, if you have a ready credit account, put some money into that account first before you leave. When you draw money from this account without leaving a negative balance, you will not be charged interest. You'll only be paying the exchange rate of the bank. You still earn interest from the balance.

        As for traveller's cheques, there's also Thomas Cook.

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        • #5
          oh i dont have a ready credit account. so its better to get traveller's cheques? where can i get thomas cook? i'm such a kuku when it comes to this...

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          • #6
            hmmm, one thing about traveller's cheques is that it might be a hassle to change (ie you have to queue up at the bank, sign stuff and things like that) while with Visa you can essentially withdraw your money anywhere and use it as a normal debit card during transactions.
            I heard that the handling costs of Visa is high though, and that their currency conversion rate isnt all that great either, so you might want to check that out.
            You can get traveller's cheques at your bank branches

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            • #7
              use your atm card if you can

              you can use your atm card - no charge, withdraw from your bank account in singapore, exchange rate applies. please ask the bank, i am quite sure.

              avoid using your credit card. charges i believe are by day..

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              • #8
                Traveller's Cheques

                Traveller's Cheques! Has anyone used them? Care to share your experiences?

                I don't like to carry large sums of money when I travel and am also hesitant to use the plastic... so if anyone has any experience with them, I'd be glad to hear from ya!

                My main concerns are where to get them and how to use them. Are they easy to use?

                TIA!

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                • #9
                  I used to carry traveller's cheques, it is troublesome compared to credit cards. You need to pay commission when you exchange to cash, unless you go to an Amex office which is not easy to find.

                  Credit card is the most convenient to travel. Why are you hesitant to use it ? I have lost cards while travelling in Los Angeles, I made collect calls to banks in Singapore, and they sent the card to my hotel the next day. You can also dispute any transactions, so long as you never sign on the receipt. Except internet transactions which can be tricky. But using credit cards for travelling is very safe.

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                  • #10
                    Do you need to pay any handling charges when you purchase traveler's cheques? or do you just pay the bank's exchange rate?
                    if there is a handling charge do you have any idea how much it is, approximately?
                    i'm going to a place where credit cards aren't widely used, most transactions will be done in cash and so i'll need to purchase tcheques for safety reasons...

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                    • #11
                      Hi,

                      You gave to pay singapore currency when you buy the traveller's cheque. (Not usd) There is usually a 1% charge when you buy it and when you encash it. Note that the free encashment sites listed in Amex does not always work. I have experienced charges though I informed them that they were listed as commission free.

                      Only amex travel office, certain singpost branch and dbs branch sells amex tc.

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                      • #12
                        Travel Money

                        Does anyone know where to get traveller's cheques?
                        if get now can take advantage of the weak EUR not?
                        what banks are providing this service? i checked hsbc, but they said they don't issue traveller's cheques any more, and dbs' site has no mention of it.
                        anyone knows, how much commission is charged?

                        i'm going to europe for 5 weeks, spending bout 8000 EUR (two of us). Should we get a multi currency account or sth (since we're going to canada for 4 months after that), or just draw and pay the transaction charge each time? i looked at lloyd's, hsbc uk and the charge seems to be 5-10 pounds/eur a month so it looks more worth it to do that that keep drawing (which dbs will charge 5 sing for each time). I dont really think it solves the problem if we draw a lot each time we do, since the whole point is we want to travel with as little cash as possible!

                        if we should, what banks should we go for? we're going to london, paris, madrid, barcelona, florence, venice and rome. it'd defeat the purpose if we get a foreign account but in the end still have to pay transaction charge when we draw money. i dont really know where to start looking.

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                        • #13
                          i think there's a charge to withdraw the money from the recipient's end right?

                          and does traveller's cheque come in fixed denomination or can we send the exact amount over to the receipient?

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