How can you change pounds into a foreign currency and..?

Question

and what are traveller's cheques and how do they work?

Answer 1

Best Answer - Chosen by Voters

Banks, building societies, the Post Office and travel agents all sell foreign currency. You can usually get dollars and euros over the counter, other currencies you may have to order.

They will charge commission so it is worthwhile shopping around for the best deal.

Traveller's cheques are issued in either sterling or your preferred foreign currency. You can change them for cash in hotels,banks and aglios abroad. They have the advantage that they are issued to you personally and require identification before they are cashed so they are safer than cash and can be replaced if stolen. If you do not use your traveller's cheques you can cash them in when you return. Again watch out for the commission charges.

Answer 2

Travellers cheques are cheques bought in your own currency and valid in another. You have to sign them (and usually show your passport) to exchange for currency notes, so they are more secure than cash. But they do usually cost more in commission. Good news is if you don't use them you can usually exchange them without penalty on your return.
You can buy foreign currency at most banks and building societies and if it is a common currency you usually don't have to wait. BUT - It is often better just to take your cash card abroad with you and get cash as you need it or pay by card. See my article on foreign exchange and the best deals at http://www.helium.com/items/1165485-fore…