Eurocheque - together with the Eurocheque card - can be usуd throughout Europe - at location identified by the red and blue EC symbol. You can use them:
• in banks - to obtain foreign currency
• in retails outlets (hotels, shops, restaurants) to pay for goods and services
How it works
• You obtain your Eurocheque Card plus Eurocheques you need from your bank. (No charge is made for the Eurocheque)
• A fee is charged for your card (which la usually valid for three years).
• Each Eurocheque is valid / guaranteed for a maximum of 100 pounds when presented with a Eurocheque Card.
• You write out each Eurocheque in the local currency.
• Each transaction you make using Eurocheques will be debited to current/personal account - and will show up on your statement converted into pound sterling.
You can use a credit card abroad in just the same way as here in the UK.
All outlets displaying the Eurocard, "Mastercard or "Visa" symbol will accept any credit cards you have obtained through your bank.
When you use a credit card, the sales voucher you sign is made out in the local currency. It is converted to pounds when the credit card company gets its copy of the sales voucher.
Cards for cash - Counter transactions and through machines
Some Eurocheque Cards and all credit cards can be used to obtain local currency (cash) in most countries. As well as over-the-country transactions, some cards can also be used to operate cash dispenser machines in .some countries.
Rate of exchange
What your pounds will buy abroad depends very much on the exchange rate at the time between the pound and the foreign currency of the country where you are on holiday. You can find details of the current exchange rate from newspapers, travel agents or banks before you set off, but remember by the time you arrive at your destination the rate could have changed.
Changing your money
You can find money-changing facilities in places such as: Ports, Airports, Banks, Bureaux de Change, Hotels, Camp sites, Department stores
Getting the best rate of exchange
Whenever money is changed from one currency to another, the organization providing the services charges a fee (this should be a small percentage of the sum being changed)
This fee is deducted from the amount of foreign currency each of your pound would buy at the official exchange rate.
So the higher the exchange rate you are offered abroad, the more foreign currency your pound buys.
Not every organization makes the same charge for this service. Some charge commission rates are lower than others. So it is worth shopping around for the best rate you can find.
Banks provide many types of Insurance cover, such as:
• cancellation of holiday and delays
• theft or loss of personal property and cash
• sudden illness
• car breakdown