Money matters

Patrick Dankou · Post by **Patrick Dankou** » Sun Aug 06, 2006 3:28 pm

Hello Henry,

Scotiabank will open a 3rd branch in the new mall in Lowlands soon.

Gill M · Post by **Gill M** » Sun Aug 06, 2006 3:33 pm

Hi Steve

Yes, I usually pay most things with my Nationwide cards - its' a blessing that, just once a month, I can go on line and pay off my debts so that I don't incur interest charges. Nationwide don't charge for using their card worldwide and give excellent exchange rates too. However, I do need to pay my accomodation rental on arrival (cards not accepted) and, looking at the best and worst exchange rates for 4 August, I could save myself £120 so I think it worthwhile to use the bank on this occasion but the ATM card for day to day use.

Gill M · Post by **Gill M** » Sun Aug 06, 2006 3:37 pm

Hi David

Thanks for that info David. Lloyds UK issue Amex Sterling T/C's commission free to customers but are they treated like the plague as in American Express Credit Cards???

Gill M

Patrick Dankou · Post by **Patrick Dankou** » Sun Aug 06, 2006 3:41 pm

Don't worry Gill,
all T/C's are treated equally, the issuing company does not matter T/C's .
Hust make sure you put the second signature in the right place and only when you cash them or pay with them.

Gill M · Post by **Gill M** » Sun Aug 06, 2006 3:44 pm

Hi Stephanie

That's not a bad rate for using the ATM which I shall be using BUT I still will need to join that queue at least once initially which isn't too much of a hardship.

All the best with your building and a cam would be great - especially for those who haven't visited Tobago before!

Must say that there are some brilliant photographs on MyTobago and many thanks to those who submitted them.

Gill M

Gill M · Post by **Gill M** » Sun Aug 06, 2006 3:55 pm

Hello Henry

Yes, I discovered the Nationwide Card a few years ago and, at the moment, my view is that it's the best for rates and no charges.

I did check out the Scotiabank site and, as of last Friday, it was giving the best rate - thank you Henry. The difference between the best and worst rates would save me around £120 for my accomodation which is payable on arrival as cards are not accepted. Likewise, it's also worthwhile checking out UK banks too!!!

Have a great Christmas - I shall be following in January!

Gill M

Brian Taylor · Post by **Brian Taylor** » Sun Aug 06, 2006 10:22 pm

yeah, it there are some nice pics and the good thing is, that they are taken from people who have benn here and not like some pictures on some websites that show other islands or the other end of the island as if it was the view from your window. makes us sick that!

we work on the cam and we even have a roof to cover it already

can't wait to move to the beach and enjoy, what our guests have already!

I always take a book to the bank or watch the other people in line. the patient locals (grandma with curlers etc.) and the foot tapping tourists (thats the fresh ones who are not as laid back as they will be yet).

enjoy your holidays you all!

STEPHANIE

Chris Cross · Post by **Chris Cross** » Mon Aug 07, 2006 10:12 am

...Bank... esp. on Fridays

)))))

Gill M · Post by **Gill M** » Mon Aug 07, 2006 12:26 pm

]Don't worry Gill,
all T/C's are treated equally, the issuing company does not matter T/C's .
Hust make sure you put the second signature in the right place and only when you cash them or pay with them.[/quote]

Thanks for that information Patrick. Do the Tobago banks make a charge for cashing T/C's?

Can't you tell this is my first visit to Tobago? But really looking forward to it

Gill M

Gill M · Post by **Gill M** » Mon Aug 07, 2006 12:29 pm

]Don't worry Gill,
all T/C's are treated equally, the issuing company does not matter T/C's .
Hust make sure you put the second signature in the right place and only when you cash them or pay with them.[/quote]

Thanks for that information Patrick. Do the Tobago banks make a charge for cashing T/C's?

Can't you tell this is my first visit to Tobago? But really looking forward to it

Gill M

Patrick Dankou · Post by **Patrick Dankou** » Mon Aug 07, 2006 1:06 pm

Hello Gill,
good question...
Just phoned all the banks and this is the result:

Service charge for cashing T/C's :

Scotiabank: 6 TT exept for AMEX T/C's
First Citizens Bank: 10 TT
Republic Bank: 10 TT
RBTT: 6 TT exept for AMEX T/C's
Hope this helps.

Post by **Steve Wooler** » Mon Aug 07, 2006 1:11 pm

Hi Patrick

Thanks for that useful information. Nobody can complain at those charges - 50p to 90p

One question: You twice say "except for AMEX". Does that mean that they don't accept AMEX T/Cs or that there is no charge or a different charge for AMEX?

Patrick Dankou · Post by **Patrick Dankou** » Mon Aug 07, 2006 1:37 pm

Hello Steve,

All the banks take AMEX T/C's but there is no charge if you cash them at Scotiabank or RBTT

Gill M · Post by **Gill M** » Mon Aug 07, 2006 6:32 pm

Patrick Dankou wrote:Hello Gill,
good question...
Just phoned all the banks and this is the result:

Service charge for cashing T/C's :

Scotiabank: 6 TT exept for AMEX T/C's
First Citizens Bank: 10 TT
Republic Bank: 10 TT
RBTT: 6 TT exept for AMEX T/C's
Hope this helps.

Hello Patrick

Many, many thanks for taking the time to give me that information as it is really most helpful and appreciated.

Gill M

R Shah · Post by **R Shah** » Tue Aug 08, 2006 9:19 pm

Thought this list might be useful (its my personal fav for holiday money). Note it applies to those who live in the UK mainly:

1. Nationwide Debit Card for ATM withdrawals from destination country / Nationwide Credit Card or the Audi credit card for purchases in destination country (but watch out for Dynamic Currency Conversion).

2. Any other debit card for ATM withdrawals from destination country / any other credit card for purchases in destination country (but for both CHECK T&C's to see exact charges).

3. Thomas Exchange Global in central London.

4. Travelex online (remember Travelex will price match any other exchange service, i.e. the one above)

5. Marks and Spencer

6. Thomson Travel (they seem to use Amex as their travel money provider).

7. Co-op Travel (they use Curreny Express / Exchange and offer free delivery for orders over £300).

8. Online FX (their rates probably look higher than the others, but do watch, as they charge £4.95 for delivering the currency).

9. Post Office

With 3 - 9, if you are paying with debit / credit card check your T&C's as many providers charge for the priviledge of using money exchange services.

Gill M · Post by **Gill M** » Wed Sep 20, 2006 7:55 pm

Just wanted your advise as to whether it is advisable/normal to pay in Full for our accomodation and car hire in cash on arrival as we are staying for two months? Apartment doesn't take cards and car hire will cost an extra 5% paying by card????? Have no idea what the "norm" is.

Patrick Dankou · Post by **Patrick Dankou** » Wed Sep 20, 2006 8:06 pm

Hi Gill,
any decent car rental company will not charge you extra if you pay with card. If your guest house/hotel does not accept cards you should be able to pay them with T/C that's safer than carrying 2 month's rent in cash.

Gill M · Post by **Gill M** » Wed Sep 20, 2006 9:23 pm

Thanks for your advise Patrick - as always very helpful

Patty Hess · Post by **Patty Hess** » Fri Sep 22, 2006 1:50 pm

Hi,
We will be staying in Castara for 16 days this coming winter and I would like to know more about what kind of money we should take from an American’s point of view. Most of the advise on the forum pertains to British travelers and it’s hard to tell if it’s best for us coming from the US. Can any Americans help me out? Are US travelers checks accepted at most places in Castara or would we need to go to a bank and change them once we arrive? What about ATMs – is the rate better than with travelers Checks?
Patty

D. Gould · Post by **D. Gould** » Sat Sep 23, 2006 12:52 am

when i travel, i carry american express traveler's checks. you can change them at the bank and you get a higher rate than when you change cash. i would not change them at the exchange in crown point airport, they did not give the same as the bank. it is just a few cents difference, but depending on how much you change, the difference is nice.

i would change your checks and then use tt$ in castara. i change them in increments, not all at once.

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