"Miguel Cruz" wrote in message
news:htjNa.20713$n%5.17899@nwrddc02.gnilink.net...
>
> You generally pay 1% over interbank rate, which is substantially better
than
> you get when changing cash or travelers checks (3% over in efficient
> countries, up to 10% or more over elsewhere).
>
Typically travellers cheques are about as good as plastic cards. The margins
are highly different from one developed country to another. For instance for
Finnish card holders (assuming that they use Finnish cards which are all
administered by a company called Luottokunta) ATM withdrawals are not more
economical over cheques (at least not so that it is relevant anyhow). We
must pay 2% for the capital PLUS 2,5 euros outside the EU for every
transaction. Doesn't sound cheaper than cheques to me. Naturally, the rate
can be 1-5% more or less favourable in the following day or than today for
any legal tender. You never know.
Those who keep all their money in form of cash are not too clever. This
money (at least outside most primitive fiscal structures) is most expensive
and least secure. Actually it isn't secured anyhow. Naturally those (like
me) who are accustomed in using cheques must follow some disciplines in
order to claim fresh notes to replace the lost ones. Receipts must be stored
and they should tell where and when cheques have been cashed and with what
serial numbers. This information is typically printed on receipts and when
it isn't, traveller should add it there. Plastic cards can be a bit of a
nuisance because the replacement procedure can be time consuming and
expensive.
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