My friends are coming to visit from America. How can they get travellers cheques in pounds?

[Mongolia]

I have been googling to find an answer about how to get travellers cheques in pounds when you are departing from the US.

Also wondering how much do they cost, exchange rates, etc. And how can they cash them here (if they want cash rather than paying for services)

Which are better, American Express ones or Visa?

Etc. Etc.

Yet, I have not found a website that can explain this to me (apart of 100s of webpages explaining what to do if they loose them!)

Could anybody please throw some light over the matter?

Many thanks

Why do they want to use travellers' cheques?

They are coming for a long stay, I believe they want them because it would cost less in interests than putting it all in their credit cards. In other words, just a way to bring some cash without the risk of actual cash.

good guide here
we always use pre paid cards

Thanks. I have had a look and those prepaid cards sound very good, now I need to find a way on how they can get them from the USA (it seems that those displayed were only available to UK residents)

I will be googling for more info but if anybody have more suggestions in the mean time, please keep them coming

If their normal bank card is a member of a major network, eg Cirrus, then they should be able to use it in the UK.

YEs, they have been doig that in the past, but as this is a long trip, they are talking of several thousand pounds.

If they have the money they can use their credit/debit cards to buy things/take out cash (in that order!). The exchange rate with banks is often better than what you would get for travellers cheques, and it's a lot less hassle.

If they have internet banking they can pay off each month's credit card bill while still here, so they won't rack up interest.

I would bring some initial cash in us dollars and change it at a post office or marks and spencer. And then use a debit or credit card for the rest. The fee works out to less than the hassle (and sometimes fee too) of travelers checks.

I agree, Sofia. I don't know anyone who has used travellers' cheques for years, and then only people of a certain age.

If they want to bring a lot of money to the UK, they are far more prudent to keep it in their Money Market account and use a debit card in UK bank machines.

Thank you.

What is a Money Market account?

Travellers cheques are old hat now and have not really been used extensively for years because of the excessive charges levied against them.

Your US friends are better off determining which bank has UK associations (e.g Bank of America has ties with Barclays). If they are making a long trip to the UK they should certainly discuss this with their bank beforehand so their credit and debit cards can be used in the UK without problems. Also I would think the UK has restrictions on how much actual cash can be brought in woithout having to declare it at UK customs.

My mom comes to visit from California at least once a year and always brings traveller checks, then uses credit card. Traveller checks are good as more secure method of travelling with cash.

Not sure if it's just my mom or her bank, but check to see whether your friends have chip and pin cards as my mom's didn't, and it was such a hassle doing the signature thing.