Obtaining TTD while in Tobago

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Sujata14
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Obtaining TTD while in Tobago

Post by Sujata14 » Mon Nov 24, 2014 11:53 pm

Hi all,

I've browsed through the forum to research my best options for obtaining TTD while in Tobago, but couldn't find the answer to my specific question. I live in Canada which is essentially Fleeceville when it comes to the transaction fees that banks charge for foreign currency transactions, whether we use a credit card for foreign purchases or we use our bank debit card at a foreign ATM. We get charged a 2.5% transaction fee plus a $5 flat fee per transaction. Getting a large amount of TTD by buying it here in Canada from one of the 5 banks is also expensive - the rates aren't very good. Plus I don't want to carry a ton of cash with me, So, my plan is to buy a small amount of TTD here (say TTD 2000), and for the rest I intend to use Western Union online money transfer which charges a much lower fee ($9 + 1% per transaction). These would be instantaneous transactions ie I could make the transaction online and just collect the cash at an agent. I can send upto CAD 999 per transaction. I believe there are about 7 Western Union agents in Tobago (going by their website). In theory, it sounds pretty easy. Does the reality match up?

Does anyone have any experience sending money to themselves via Western Union and collecting it hassle-free (ish) from one the agents in Tobago?

Many thanks!
Sujata

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Re: Obtaining TTD while in Tobago

Post by Ronald » Thu Nov 27, 2014 9:20 am

Hi Sujata

I´ve been using WU sometimes to transfer to my lady but I´ve never made a transfer to myself.
I think that you should ask Western Union in Canada before you try to do that, one of their real office and not a small exchange agency dealing with W.U., they should be able to tell you if you can do so or not.

Have a nice stay in Tobago
Ronald

Sujata14
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Re: Obtaining TTD while in Tobago

Post by Sujata14 » Thu Nov 27, 2014 11:49 am

Hi Ronald,

Thanks for your reply! I'll check with WU today. I also discovered (too late for this trip, sadly) that there is one credit card in Canada that offers a 0% foreign currency transaction fee (both for purchases and ATM cash withdrawals) - it is from Chase bank. So I need to get that card. Well, it's good to know for the next time I'm traveling. As long as I use it as a "debit card" (ie keep the daily cash advance balance at 0, there would be no interest charges, so that would really be the best and lowest cost option). Just thought I'd share this here in case future Canadians happen to be browsing for info!

Sujata

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Chris Runciman
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Re: Obtaining TTD while in Tobago

Post by Chris Runciman » Thu Nov 27, 2014 2:33 pm

Always advise your card company / bank, of where you will be traveling to so that your card transactions do not "flag up" as unusual !!

Sujata14
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Re: Obtaining TTD while in Tobago

Post by Sujata14 » Thu Nov 27, 2014 4:22 pm

Done! Thanks!

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