More about money

Neil Patton · Post by **Neil Patton** » Thu Jan 27, 2005 5:43 pm

After spending hours browsing all the guide books in Waterstones, since I 'm not as sad as take a laptop on holiday even if I could browse the site, we finally bought the The Rough Guide since it seemed by far the best for Tobago.
Now the question
It states that you get a much better rate, between 5 & 10% , when changing money locally and I was wondering if this actually was the case.
Can any recent returnees help

Thanks

Neil

Julia C. · Post by **Julia C.** » Thu Jan 27, 2005 6:42 pm

We returned in September 04 and definitely got a better exchange rate at a bank in Scarborough than we did in the UK. I can't remember how much better, but it was better. There's some good information on "Currency and Exchange" here: http://www.mytobago.info/currency.php

Marko C · Post by **Marko C** » Thu Jan 27, 2005 8:25 pm

Dear friends

Pls be so kind and inform us if is possible to exchange money directly on the airport and where(when we are landing).We take U$ curency.What you suggest, change we all money on the airport or not(better in bank)

Thx

Marko C · Post by **Marko C** » Fri Jan 28, 2005 10:21 am

No answer nobody was on airport in Crown Point

Brian Taylor · Post by **Brian Taylor** » Fri Jan 28, 2005 1:50 pm

sorry that we did not drive one hour to the airport and back to find out the rate

be sure it is better in tobago and even much better in the bank (than in the airport)...
if you arrive on a day when the banks are closed you cen get a smaller amount from the machine (credit card or EC card) and go to the bank later. many places take credit cards these days... that should bring you over the first days....
a piece of advice: don't worry about every penny too much...ENJOY!
it is your holiday.... safe again afterwards....

have a great holiday

Marko C · Post by **Marko C** » Fri Jan 28, 2005 2:16 pm

thanks Brian
Dont worry wi will enjoy with or without pennys.I look to find you and take a tour for snorkling and drink beer OK

just 12 hours and Tobago we come

Marco · Post by **Marco** » Fri Jan 28, 2005 3:41 pm

If you're in the UK, best place I've found is http://www.travelex.co.uk where you preorder your currency and get a better rate than other places (even the turn up and go travelex counter at the airport). Get to the airport and collect it before you go through security.

I also use my cashpoint card - when I was there early December I got 11.85 TT$ - 1 GBP. There is a bank with a convenient Internet cafe in Crown Point (and you can do your washing at the same time!).

Beware credit cards who then convert your TT$ bill into USD like happened at the Hilton. Didn't know they were allowed to do that - especially as my receipt showed the total in TT$.

David Watkins · Post by **David Watkins** » Fri Jan 28, 2005 7:54 pm

Marco,if your CC receipt was issued to you in TT$ you should have been charged by your card supplier in TT$ and nothing else.I am not 100% certain but I believe most Uk card issuers will only accept bills in the currency of the country where the card was USED.So you cannot spend US$ on your card in UK,therefure you cannot do it in Tobago!!I should get in touch with your card issuer and create hell!!Coco Reef and a few other(US?)foriegn owned outfits try this regularly,so beware!
David

Marko C · Post by **Marko C** » Fri Jan 28, 2005 8:00 pm

Thanks for warnning

Steve Fifield · Post by **Steve Fifield** » Fri Jan 28, 2005 8:38 pm

I have found that at certain times of the year (Christmas, New Year) the banks can be very busy. So busy in fact that you might regret spending over an hour in a queue at RBTT or Crown Point banks.

After an unexpectedly long delay on one Holiday, I also now use Travelex for the bulk of my currency as the difference in exchange rates is not worth the risk of wasted holiday time at the bank.

The rates for the Blue Machine are also very good (cash withdrawals) and my Credit Card rate was also very good. Basically the only thing that I would not advise is getting TT at a UK bank or travel agent - they won't come close to Travelex, local rates on CC, or the Blue Machine.

I agree that we should all vito the US currency fiaso. That is enough to put me off ever going to Coco Reef Restaurant, as it just sounds dishonest.

Steve F.

Cornelia Montgomery · Post by **Cornelia Montgomery** » Fri Jan 28, 2005 9:12 pm

It would be interesting to know what the rules are on currencies and credit cards. A few years ago, I remember reading about a similar problem encountered by some people on St. Barth's. I don't remember all the details, but they ordered from a restaurant menu with the prices in francs or Euros (I don't remember). Then when they were presented with the credit card receipt, the francs had been changed to U.S. dollars at a very bad exchange rate.
I know that the problem some of you are talking about is more complicated, in that TT$ were changed to US$ and then to pounds.
I would think that you'd be billed in the currency of the country where you incur the charges, but it seems as though it's more complicated than that. Anybody know the rules?

Cornelia Montgomery · Post by **Cornelia Montgomery** » Fri Jan 28, 2005 9:13 pm

It would be interesting to know what the rules are on currencies and credit cards. A few years ago, I remember reading about a similar problem encountered by some people on St. Barth's. I don't remember all the details, but they ordered from a restaurant menu with the prices in francs or Euros (I don't remember). Then when they were presented with the credit card receipt, the francs had been changed to U.S. dollars at a very bad exchange rate.
I know that the problem some of you are talking about is more complicated, in that TT$ were changed to US$ and then to pounds.
I would think that you'd be billed in the currency of the country where you incur the charges, but it seems as though it's more complicated than that. Anybody know the rules?

Pamela Sutcliffe · Post by **Pamela Sutcliffe** » Sun Jan 30, 2005 2:13 pm

Hi
I suggest you look at the posts on the CoCo Reef page under Credit Card Conversion Rate.

Steve Fifield · Post by **Steve Fifield** » Sun Jan 30, 2005 3:04 pm

Hi Pam,

Which page do you mean? On the Forum, on the CoCo Reef's own Website, or in the general pages under accommadation. I've had a look and can't see where you mean?

Does this page give an answer to the legal or moral aspect of these transactions involving 2 or more exchange rates?

Steve F.