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Ant99
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03-08-2008 12:55 AM
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Joined: 14 Aug 2006
Posts: 4
| Can some one please confirm if you can still use cyp pounds ? Also what would people suggest as best /cheapest way of taking spending money.Travellers chqs , cash or Plastic.Is it best to change euro T cheques in the shop or bank.
Such a minefield these days not really sure what to do!!!
Any tips greatly appreciated.Ta
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shaz2
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03-08-2008 01:18 AM
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Joined: 03 Aug 2008
Posts: 2
| Hi We visited in April and it was Euros, we always take sterling travellers cheques ( OLD SCHOOL)but always feel safer with these. Sterling TC seem to get the best rate, if you have a Nationwide account then they don't charge commission when withdrawing cash abroad,only problem is just recently heard of quite alot of people having cards cloned so beware!!
Shaz
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tsuser
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03-08-2008 04:28 PM
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Joined: 28 Apr 2008
Posts: 111
My Profile
| According to one site I have looked at the Cyprus pound can't be used in shops etc. They must be changed at banks.
You don't say where you live, but assuming the UK I don't see any sense in taking Euro travellers cheques. My reasoning is that you will probably be charged by your bank for issuing them and will certainly get a poorer rate than the purchase rate if you decide to pay any surplus back into the bank on your return. If you do take t/cs then take Sterling as you will probably get a better exchange rate in resort than from a bank or bureau de change in the UK.
If you have time before you travel consider applying for a Nationwide Flexaccount. They don't charge any commission on foreign currency transactions. When I used it in Turkey the exchange rate was almost identical to the inter-bank rate which is better than the normal tourist rate.
What I generally do is take enough cash in the currency of the country I'm visiting to last me through the first few days, a couple of hundred in Sterling t/cs just in case there are card problems and then get the rest from the hole in the wall.
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Ant99
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03-08-2008 09:52 PM
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Joined: 14 Aug 2006
Posts: 4
| Thanks for the tips.Mucho graciarse!
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cyp
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04-08-2008 08:16 PM
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Joined: 04 Aug 2008
Posts: 1
| Hi. Just got back from Cyprus and although the prices are in Cyp£ and also Euro, you can't use Cyp£. Its just an indication of the Euro to Cyp£ value for the Cypriots mainly. My tip, use Sterling travellers cheques. We were advised to use Euro cheques by Thomsons. Ended up losing 98 euro on £1000. The rate in Cyprus high street is about 1.25 against average of 1.16 in Britain high street.
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