Sign in to follow this  
Followers 0

Travellers' Cheques

5 posts in this topic

My two brothers and my sister-in-law will be coming to visit me in a few months and are wondering about which the form in which they should bring their pocket money.

Should they use travellers' cheques? Which ones? - AMEX? Other? And who accepts them in Germany (My Sparkasse and the Postbank don't. They told me.)

My Sparkasse told me that my bros/SIL could even use their NZ bank cards, which I find a bit far-fetched. Is this correct?

Do travellers' cheques still even exist in this age of credit cards? (I admit to not being up with the latest on this subject.)

My bros/SIL all have CCs but as we all know, it is notoriously difficult to use these in Germany.

Advice/assistance much appreciated. Thank you.

0

Share this post


Link to post
Share on other sites

ATMs accept foreign bank cards.  They should ask their bank in NZ about this, and also tell the bank when they are going to  be in Germany so the card use is not flagged as suspicious.

 

0

Share this post


Link to post
Share on other sites

Generally the cheapest way to get foreign currency is to withdraw it at an ATM.  

 

Check the bank charges, but it if often something like x.x% with a minimum charge of y.  Generally, if you withdraw enough to go over the minimum then that is the best value.  This might mean withdrawing 100 - 200 Euros at a time.

 

Otherwise, use credit/debit card is also cheap as long as you pay in your own currency (don't accept the currency conversion offered when you pay, as it is always a worse rate) .

 

Don't forget to tell them that in Germany it is best to always have some cash available.

 

 

1

Share this post


Link to post
Share on other sites

Why not simply get them to transfer you the money by Transferwise or Giroxx or some other transport service... then give them cash from your ATM ... 

2

Share this post


Link to post
Share on other sites

Have them get euros out of an ATM. If for some strange reason their NZ card is not good in Germany (or has very high fees) have them get a Transferwise Borderless Account, which is multicurrency and has very low fees. I have one and it's great.

 

https://transferwise.com/au/blog/launching-borderless-new-zealand

 

The can load euros onto the card from their NZ account and then spend them in Germany or withdraw them from an ATM. The card is free. The first 250 euros you withdraw from an ATM each month is also free. After that there's a 2% charge. Currency conversions are not free but the rates are very reasonable.

 

 

Like dj jay smith said, remind your family that in Germany you always need cash in your pocket as many businesses only take cash.

0

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!


Register a new account

Sign in

Already have an account? Sign in here.


Sign In Now
Sign in to follow this  
Followers 0