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GBP HARD CURRENCY VS US Dollar travellers cheques in Korea

 
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slideaway77



Joined: 16 Jul 2007

PostPosted: Sun Sep 16, 2007 11:19 am    Post subject: GBP HARD CURRENCY VS US Dollar travellers cheques in Korea Reply with quote

Hello

I am flying over from the UK to Korea for three weeks next month. Be based mostly in Seoul. Obviously I want my money to go as far as possible..
The dollar is weak at the moment so I am reluctant to change my GBP �s into Dollars and get charged commission on top of that.
Do Banks or Exchange Bureas over in Korea exchange Won for hard British Pounds �� or GBP/Euro Travellers Cheques ??
Or will I have to bite the bullet and exchange my pounds for US Travellers Cheques and potentially lose money?
Also, would changing my money into Yen/Japanese Travellers Cheques be an option in Korea and give me a better exchange?
Appreciate your thoughts on this one.

Ta Steve Very Happy
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dogshed



Joined: 28 Apr 2006

PostPosted: Sun Sep 16, 2007 12:48 pm    Post subject: Reply with quote

Pounds should be OK. Check out the KEB website.
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Matman



Joined: 02 Jun 2006

PostPosted: Sun Sep 16, 2007 1:04 pm    Post subject: Reply with quote

GBP is accepted at practically any currency exchange in the world. No problem at all. Why would you change your money into USD? Every time you exchange money you lose as much as 5% in commissions (even if they don't call it a commission - they just give you a bad exchange rate and take your money that way). The best thing to do though is leave your money in a UK current account and bring your debit card with you. Nationwide is the best because every time you use your debit card there are no foreign usage charges or transaction charges. It genuinely is commission-free (unlike all the other "commission-free" offers you see in the UK). Use paper-free online banking and they never contact you but make sure they have a UK address on their records (ask a parent or friend).
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