myTobago – your questions, review and comment about Tobago

Off to Tobago for the first time at the end of February and I was wondering if any of you kind people could give me some advice about money.
Firstly whats the best way to take it bearing in mind I am exiled in Ireland at the moment so Euros is the thing, is it better to take cash, in T&T dollars or US dollars or travellers cheques in US dollars.
We are staying in Porridges Place in Casatra so I imagine opportunitys to cash Travellers cheques will be limited.
Next question is leaving out accommodation & hire car charges whats a ball park figure for daily expenses £25 £50 £75.
Just courious as I have no idea of prices for meals ect.
Any advice would be gratefully recieved

Thanks

Neil

Hi Neil,
We went in to Crown Point area in December and took T&T Dollars and our cash cards.
There aren't many places to change traveller's cheques on the island, so I think you are best taking cash and cards for back up. We left our cards in the hotel safe deposit box during the day.

Average price of a 2/3 course meal for 2 people is about £25-£30. But obviously depends where you eat and what you eat.

We took £500 for the week and came back with £100, so we spent about £200.00 each for the full week.

Regards

Neil,Take 2000tt$ and your credit cards.The Cascreole bar restaurant now accepts CC's and does do a cash back service although I think they charge 5% for the service.There were some ROI staying while I was there and they couldn't find anyone willing to take thier Euros in Castara.
David
PS,make sure if you are billed in TT$ the CC is debitted in TT$ NOT US$!!!!

Dear Neil--

We will be in Castara in February (Naturalist Beach). It seems the closest cash machine is near Scarboro. If you have a car, that would be no problem to stock up every few days. The Naturalist will take redit card for the accommodation, but I suspect a small operator like Porridge probibly can't. Check with him. All the restaurants definitely will only take cash. We've reserved a car through Yes Tourism, so we'll be able to use credit card for that. Don't convert to US$! You're just going to lose money changing from Euros to dollars to TTdollars. If you need to bring traveller's checks, they may as well be in Euros, and you can go into the bank every few days and cash some. Good luck!

Thanks for that.
Looks like T&T dollars cash is the wat to go.
Reason I thought abot US dollars was really good exchange rate with euro but like you say that would probably be eaten up with charges.

Thanks

Neil

Hi Neil

The TT dollar is linked to the US dollar - so if the exchange rate with the euro is good for one, it's good for the other too. So don't worry about getting TT dollars - your rate will be better than it has been for some time!

Jane

I wonder.

Going to take cash and about to transfer money into credit card accounts for that option.

Then thought ... my 'debit' card has a VISA sign on it and I have never tried using it in Tobago before.

Can anyone confirm if it is possible to use a debit card? ... not that I would rely on that option alone. of course.

Regards

Hi Paul,
Good question,i've not used my visa debit card in Tobago before either but i'm sure it'll be ok,i s'pose the funds would just come straight out of your bank account rather than going through a card company.

As for how to take funds into Tobago i found that the best way is to take US$ travellers cheques and then change them into TT$ in the bank in Tobago as you get a much better rate of exchange,something like 10TT$ to the pound!

Andy D wrote:Hi Paul,
Good question,i've not used my visa debit card in Tobago before either but i'm sure it'll be ok,i s'pose the funds would just come straight out of your bank account rather than going through a card company.

As for how to take funds into Tobago i found that the best way is to take US$ travellers cheques and then change them into TT$ in the bank in Tobago as you get a much better rate of exchange,something like 10TT$ to the pound!

Just had a quick look and you can get 11.25 TT$ to the pound from Travelex.

I wouldn't advise taking money out on the credit card as you get charged a comission and interest as soon as you withdraw it.

I took some TT$ and US$ (for the places that quoted me in US$) and then topped up from the cashpoint a couple of times. Worked great.

Sorry ... I should clarify.

I use the credit card to pay big bills like food and accommodation.

I take cash separately.

I was just wondering about using my debit card instead of a credit card ... if not I have to transfer money into the credit card.

Cheers

ATMS will normally pay out on a debit or credit card, as long as it is either backed by VISA or Mastercard. There are a couple of card types that are only used with accounts in credit such as Solo and Electron ,which will not generally work abroad. Also remember that British banks make a 1.5% charge on all international currency transactions that are not purchased through the supplying bank even on a debit card. This despite the fact that it is our own money we are using!

Paul

On my recent visit I used my normal bank debit card with the Maestro sign at the Pleasant Prospect (Next to Pizza Boys) hole in the wall.

It was just like using it to withdraw money in the UK. It did remind you that the money would be given in local currency.

It took 5 days to appear on my bank statement and I got an exchange rate over 11T&T to the £. So the 1000T&T converted to just over £90 and that included the 1.5% handling charge added by my bank.

It will even give you a balance!!!!

Paul,

Visa Debit works the exact same way as a Visa Credit card, the only difference is that the money comes from your bank account and not from a seperate credit card account. The transactions are handled by your bank but the profits go to VISA.

Neil,

I don't know if you have tried getting T&T Dollars in Ireland yet, we couldn't get them when we tried through the Bank of Ireland last year. We were offered US Dollars. We managed to get T&T dollars thru friends who were coming to our wedding from Scotland

If you have a Laser card with a Maestro symbol on the back you should be able to withdraw money from the cash points at the banks.

Hope this advice doesn't come too late!!

Joe

P.S. What part of the emerald isle are you 'exiled' in??

Thanks Joe
I had no trouble getting T&T dollars fron Ulster Bank although their charges for travellers cheques made my eyes water, however its only money.

We are exiled in the depths of wildest Kildare not far from Kilcillen & Newbridge, my good lady got a job offer she couldnt refuse in Dublin so I had to follow her. Ironicaly we moved here from Fife stayed in a little cottage between Leven & Cupar.

Neil

Thanks Joe

Debit Card it is then.

Cheers


Pauk

Good decision re debit card Paul. Use has never been a problem.

Just to for info. that best cash machine on island is at RBTT by Clothes Wash Cafe next to Coco Reef. Will give you up to 3,000 TTs at one hit.

Regards,

Bob.

Well Neil,

We didn't come from Kildare, we came from Galway...

But freaky as it may seem... we live in Ceres just now, and my wife is originally from Cupar!!

So when are ye off to Paradise??

Joe