Using Travellers Cheques in Orlando

Hi tiggerlees. I'm really sorry but I can't answer your query effectively because I've never noticed any excessive charges or fees on my credit card statement when it comes in.

Normally it just lists the US$ amount for the item I purchased. Then it states the current exchange rate and then finally the amount 'due' in sterling £. There's no mention of charges or fees relating to the transaction. I've usually got an exchange rate which I work on whilst I'm away, and by the time I come home my purchases normally fall within that rate by a few cents - up or down depending how the exchange rates altered whilst I was away.

I never use my debit card in the US but my daughter has once or twice at an ATM and for 'cash-back' in a supermarket. She was charged about £3.00 each time per transaction.

I've always been quite happy with the exchange rates I get from Lloyds TSB Mastercard on my purchases and my VA Amer.Express card offered even better rates this April. Hope that helps. Hev

OK, I1ve taken all the information on board and have organised a Lloyds TSB mastercard Credit Card. Now the next question, as I use online banking - I will get the Credit Card registered to use online, couldn`t I load extra cash into the credit card account before we go, therefore creating in effect a prepaid card. We`ll be away for 3 weeks and sods law says it will need to be paid off before we arrive back in UK therefore incurring the mega charges we were worried about in the first place. Has anyone else ever done this, will we actually need to do this or am I worrying about nothing? ?|

Hi Tiggerless.

If you're doing on-line banking you'll know in advance the date when the end of your statement is due. Also you can pay your statement off anytime via interent banking.

Yes I've actually paid well over my required 'amount due' a couple of times in the past but like I said you can get into your a/c whilst you're away to pay it up, so no need to panic.
If you feel happy to load it, thus making it like a pre-paid card - Lloyds TSB are not going to complain!!!

As you're got a new card, make sure you let Mastercard know in advance you are off to the States otherwise you might find your card if either declined or frozen and that's hastle.

Hev.

OK, I1ve taken all the information on board and have organised a Lloyds TSB mastercard Credit Card. Now the next question, as I use online banking - I will get the Credit Card registered to use online, couldn`t I load extra cash into the credit card account before we go, therefore creating in effect a prepaid card. We`ll be away for 3 weeks and sods law says it will need to be paid off before we arrive back in UK therefore incurring the mega charges we were worried about in the first place. Has anyone else ever done this, will we actually need to do this or am I worrying about nothing? ?|

I know some banks / CC providers don't like their cards being used this way but what can they do? I usually round up my CC bill so will always have a small credit at the start of the statement period.

It can be useful if you know you have a big purchase that is more than your limit so ineffect boosting it.

I have "loaded" credit cards prior to trips to U.S with enough to buy a car (yes, seriously) on more than one occassion. All I had to do was to call the card issuer before I travelled and let them know I was abroad...never an issue, even with MBNA/Amex and Lloyds TSB Dual Amex/Mastercards...you will be fine.Call thenm a couple of days before you go. Take the U.K. contact number with you just in case.
You can do a transfer charge/collect call if you need to.

Another idea is to set up an payment instruction with the card issuer to take the full balance on the statement on the payment due date by direct debit. Then you will have no concerns about missing a payment and it will save you "loading " the card in advance.
Another benefit of doing it this way is, if anything happens to your card(s) there is no risk of your pre-loaded card being abused before you realise there is a problem..but if you are careful and diligent with their use and storage in your wallet/purse/bumbag/old sock... there won't be!

Hope this helps

OK, I1ve taken all the information on board and have organised a Lloyds TSB mastercard Credit Card. Now the next question, as I use online banking - I will get the Credit Card registered to use online, couldn`t I load extra cash into the credit card account before we go, therefore creating in effect a prepaid card. We`ll be away for 3 weeks and sods law says it will need to be paid off before we arrive back in UK therefore incurring the mega charges we were worried about in the first place. Has anyone else ever done this, will we actually need to do this or am I worrying about nothing? ?|

I know some banks / CC providers don't like their cards being used this way but what can they do?

They can close your account.

But really thats only if someone routinely places their account into a credit-balance (for reasonably siginificant amounts - most card issuers won't care about small credit balances here and there)

Another alternative when in Orlando:

http://www.disneydollars.net/

y)

Have used travellers cheques for many years and never had any problems, as someone else pointed out its a bit of a bind having to countersign them all when you initally purchase.
The last 2 years we have used the Thomas Cook prepaid currency card.Have just returned from California and had problems with my wifes when it would not recognise the PIN although it worked fine last year.No problems using it shops/resturants etc but big problems when trying to withdraw cash from an ATM, sometimes they would work other times not.
One of the big downfalls of these cards is you have to keep a running balance of what you have spent,unless you go online to check..

Thanks again for all your help and information. Mastercrad credit card has now arrived, and our date to settle is 8th of each month (I think that`s what it means) We travel out on 28th and back on 18th, so just as I thought it will be slap bang in the middle of our time away! So have decided to take cash, travellers cheques and credit card. We have a hole in the wall debit card from Lloyds too, we pay for shopping etc using this in UK, am I correct in thinking this can be used overseas too? Just as a back-up if we need it. I`d hate to be away from home with a credit card and find it refused when it`s our only form of money, so I suppose variation is the key.

I recommend (to repeat what another member said) that you arrange for your Credit Card bill to be repaid in full by Direct Debit from your bank account. And, of course, ensure your bank account has enough funds in it to cover what you've spent. That way there is no risk of your encountering interest charges. Unless you have an unusually low credit limit there is nothing to be gained by pre-loading the card, and some institutions WILL refuse to allow this.

You can use a Debit Card overseas as long as it bears (as most do) an international scheme logo (like Visa Debit). Credit Card acceptability is generally a bit greater, though. In particular, when you check in to an hotel, they take a pre-authorisation swipe to guarantee incidentals such as phone charges. Far better to have this done against a Credit Card than against your own money!

As for those 2.99% fees - I guess it's too late now, but there are many card issuers out there that charge less - nil in some cases - see here: http://www.moneysupermarket.com/credit- ... -spending/

Just because you bank with a given bank, does not mean you are tied to them for other services.