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Money abroad in Cyprus

Discussion in 'General Chat' started by Geordie Jester, Aug 22, 2005.

  1. Geordie Jester

    Geordie Jester
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    Hi people,

    Just wondering if someone could advise on what's best to do about taking/spending money abroad.

    Our honeymoon week on wednesday in Cyprus. Thinking of taking some Cypriot pounds with us,

    but just been speaking to the bank and they say that only costs £1.50 to withdraw from an ATM out there. What exchange rate would be used from there ? Does it depend on the bank ?

    For payments in shops/restaurants then there would be no charge

    Or what about travellers cheques etc ? Or are they old-hat now ?

    Any advice would be great.


    Thanks ! :hiya:
     
  2. Cable Monkey

    Cable Monkey
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    Debit/credit cards make purchases abroad a lot easier than in the past, but though they say it is cheap/free I think you will find yourself stiffed on the exchange rate. Having just returned from a Greek island, we bought sufficient cash to live off (depositing surplus cash in the hotel safe) and made non routine (duty free) purchases by card. Cards do provide you with protection/security though and might be considered worthwhile for that reason alone.
     
  3. Geordie Jester

    Geordie Jester
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    hmm.... I guess it does bring me back to the 'exchange rate'. What will set that when I use an ATM..... the local bank ?
     
  4. SanPedro

    SanPedro
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    On my recent holiday I got charged £1.50 every time I used my debit card - even on purchases. Hadn't realised they charged on purchases as well as cash withdrawals. A very expensive option on this holiday - added near £40 to my bill !!!.

    Average exchange rate on the Euro never seemed to vary much - around the €1.40 mark. Credit cards don't charge you a flat fee to use your card, but charge you commission on your exchange rate.

    I'd use your credit acrd where you can and take out cash in reasonable sized chunks so your charges are lower.

    Or switch banks to Nationwide who don't charge a flat fee on cash withdrawals and debit card purchases anywhere.

    That's what I'm going to do. :D
     
  5. Geordie Jester

    Geordie Jester
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    yeah Ive heard a lot about Nationwide not charging anything.

    I have been told I won't get charged on purchases, but £1.50 every withdrawl.

    Might take 100 quid local currency and then some travellers cheques, then the rest I could withdraw.

    tricky stuff !
     

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