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Eurocheques

You can use Eurocheques in the same way as you would use a normal cheque: you write out cheques in your local currency and the money is converted into sterling and taken off your current account.

The eurocheque card guarantees cheques up to the equivalent of £100; you may also be able to use the card for getting cash from cash machines. You can have eurocheques only if you have a current account but they are an expensive option because you pay an annual fee for the card, a handling fee each time you write a cheque as well as foreign exchange commission and a loading charge.

Most banks issue eurocheques but you can only use them in Europe and they are not widely accepted. Some banks are phasing them out.

Holiday Money

For more information and tips on holiday money click here: Holiday Money

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