Am coming to NZ in a few weeks from the UK
Can someone help me clear up a debate - I am getting travellers cheques, and am in a dilemma as to the correct currency to get them in!
The woman in the bank assured me it is Sterling - is this right?!
Feeling very stupid - hope someone can help!
Hi . . . . it is quite normal to buy travellers cheques in sterling, since it makes it easier for you to cash in any unused ones on your return. Are you aware that you will probably be charged commission when you cash them in whether back in the UK or in NZ?
I am aware that cccasionally you are advised to buy them in US dollars, particularly for places like South America. However you should be fine in NZ with sterling ones, but you could always check with Thomas Cook . . . .
Not sure I have really answered your question, but hope this is a little bit of reassurance!
It doesn't matter whether you get your traveller's cheques in pounds or NZ dollars, as banks in NZ will cash either. Also, financially there is little difference as either way you will lose a fraction in conversion. If you get them in NZ dollars you lose slightly when you buy them and they convert from pounds to NZ dollars, or if you get them in pounds you lose slightly when you cash them and they convert to NZ dollars.
For convenience I would recommend also taking a cashcard that uses Cirrus (pretty much most current accounts nowadays) as virtually every ATM in NZ accepts Cirrus cards. Also, when the withdrawal shows up on your statement you get the 'true' conversion rate, as opposed to the 'we buy/we sell' conversion rate. However, you still get charged a two or three pounds withdrawal fee, but it's well worth it for the convenience.