ATM or travellers cheques

[Guymartin]

I am going to Paphos for two weeks holiday, I have a bank account with the Halifax PLC, can I use ATm machines in Paphos or do I need to take Travellers cheques?

[WoWo]

Depends if its part of a recognised network, i.e. Visa/Master Card. I think link is a UK only standard but I could be wrong. Best check with the Halifax.

[becks]

Electron's don't usually work abroad, and be careful there was a thing in the papers this week abour people getting stung by their banks with hidden charges for withdrawing cash abroad. Travellers' cheques are the best bet.

[Sylday]

If you have a Visa or Mastercard credit card, you can draw out money on those, and the charges are usually not too bad. Bear in mind that TCs are themselves quite dear, and can be a nuisance - there's never a bank around or open when you need it. My own favourite form of money when abroad is good old cash, preferably in a money belt under your clothes.

[pinus]

If you use a CREDIT card to draw cash from an ATM, you'll be charged interest from the date of the withdrawal, in addition to the standard transaction charges. It is often the case that the rate of exchange for card transactions is better than that for currency exchange, so it's not easy to make a direct comparison. Less convenient or more convenient; one set of charges or another: it's six and two threes

[jUKEjOINT65]

I used ATM's (I'm with A&L) in Paphos no problem. There are small charges, but no more than TC's which I find totally dated these days.

[BenDToy]

In my experience, despite publicity this week, lifting cash from ATMs is way cheaper, safer, and more convenient than TCs. Especially if you have a Nationwide Visa card. None of the dreaded foreign currency charges.

[Fish the Mod]

This was asked by a radio 2 listener to money expert Martin Lewis. He says the Liverpool Victoria credit card did not charge for exchanges and no interest. He has an excellent website which you may get the address via Radio 2 website