Travellers Cheques and AIB

[lil'm]

Do

 

[ClubMan]

Don't forget that you may be charged a fee when cashing travellers cheques. And if they are in a currency other than € or the host country's one then you will also be charged a forex margin on purchase and/or encashment. I doubt that they will be more cost effective than alternative ways of accessing cash abroad even with the purchase charges waived. But there are also other issues (e.g. security etc.) to be considered.

 

[z108]

I got some of those from AIB when I was a student.

I remember they were no use when I needed them once most as no place would take any over 100 dollars cheque when someone had been passing around counterfeit ones at the time but apart from that risk they are extremely secure. Just record the numbers elsewhere and your money is safe.

 

[lil'm]

o.maybe

 

[Towger]

Do AIB still sell travellers cheques?
Im a student so I get comission free travellers cheques with them.
This seems to be a better option tfor travelling in Aisa this ummer for 11 weeks,than pre loading my MBNA credit card or using my ATM card due to all the high charges.

They are almost a thing of the past. Beware, that you might not be able to cash them easly in a lot of countries and you will get bad exchange rates.

 

[Guest120]

They stopped selling them on the 1st of Jan 07, they will still buy them though.

Friday, 13 October 2006
AIB says it will no longer sell travellers' cheques from January 1 because of falling demand. The bank will, however, continue to buy travellers' cheques from customers after this date.
AIB has seen sales of such cheques fall by 95% between 1998 and 2005, while sales this year are down 50% on the same period last year.
The bank said people were increasingly using electronic means to manage their money while abroad. It said credit card use abroad had risen by 40% between 2002 and 2005, while use of AIB debit cards abroad had doubled in the past year.
Advertisement

AIB said the introduction of the euro has also been a factor, while the bank's main provider of travellers' cheques was now withdrawing its service.

 

[purpeller]

What I do is:

I have a second credit card which I keep a zero balance on.
When you load your cc with cash and withdraw from an atm, you only incur charges if you have a debit balance on the card. I lived like this for several months. You do have the extra stamp duty for the year but if you're going to be away that long, you will save money on changing travellers' cheques or withdraw with your atm card.