Where can I change sterling or euros travelers cheques in Laos?
Do they charge a commission on each cheque or a percentage of the total? Is it better to change them into bath beforehand while in Thailand?
Is it also possible to change my kipps back into other currency when I leave laos?
Thanks
Any bank should be able to exchange your money.
They charge you a fee when you buy the cheques. It's usually 1%. The fee is, ostensibly, insurance against replacing them if they are lost or stolen, but should you lose them...good LUCK getting your money back!
They charge you a fee for exchanging the money, so, if you are exchanging YOUR money into one of those currencies, they will charge you (up to about 3 or 4%) for doing that.
They will charge you a fee for exchanging the money when you do it in Laos. So, another up to 3 or 4% of your money.
The fewer currency exchanges you do, the less it costs you.
I don't know about Asia, but in Europe, you can't even find ANYONE to cash your traveler's checks. Better to have them in the currency of the location, I guess, depending on the strength of YOUR home currency...US dollars are good...I'm sure, either Euros or Sterling will be simple enough to find places to change for you. Traveling in Europe, your best bet is to use your debit card. Credit cards cost money to withdraw cash, as that is taking out a loan, but they seem to get the best exchange rates, (credit and debit cards) and the exchange rates can be as low as 1%. Check with your accounts, and use the one that costs the least.
ATMs are EVERYWHERE in Europe...check on the accessibilty in Laos, before you decide to go this route. And make sure you know how much (if any) your home bank will charge you for using a foreign ATM.
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