Markku Grönroos wrote:
> "Miguel Cruz" wrote:
>> For the unfortunate people of Finland perhaps. The OP was posting from the
>> USA, where things work differently.
>
> No it doesn't: cheques are cashed in Mexico and the rate is defined there
> by any individual bank so USA has nothing to do with this. US card holders
> buy money by about the same rate rate than anyone by cheques (unless one
> necessarily wants to bargain by 1:5 rates). Not Finland nor USA has
> nothing to do with this. Economy is not decisive. Reasonable decisions
> between the two media have different parameters (safety, replacement
> policy in particular in which cheques typically beat cards hands down;
> complexity of exchange prosess in which cards are by far better than
> cheques (typically)). Rates for Finnish cards are not anyhow inferior to
> US cards.
In that case, Finnish people are getting travelers checks for below face
value.
Because for US-based travelers, ATM is about 3-5% cheaper than using TCs.
Anyway, that's as far as I'll go on this. Markku and I have gone back and
forth on this in the past, and he's always been the only one to take his
factually unsupported position, and anyone who wants to read through it can
search google groups.
miguel
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