"NEW money" arrived in Bolton when the first batch of euro travellers' cheques hit town. St Andrew's Travel believes it is the first local travel agent to be able to offer its customers the ability to use the new currency in this form. It will be three years before coins and notes become available in the euro denominations, but from the beginning of this year people have been able to pay for goods and services in euros at outlets which will accept them by using credit cards or cheques.

St Andrew's Travel, based in St Andrew's Court, have acquired a stock of 50, 100 and 200 euro denomination American Express travellers' cheques.

Managing Director Andrew Dickson believes the new cheques will initially appeal mainly to people travelling to several continental countries.

"Travellers within the Euro-zone, initially made up of 11 countries, will find the product extremely convenient because it allows them to travel with only one currency travellers' cheque, saving on the cost of changing money between various foreign currencies," he said.

Despite Britain not yet joining European Monetary Union Mr Dickson says customers are already asking for quotes in euros.

"A lot of our business accounts are already asking if we can quote in dual currency," said Mr Dickson.

Although he is not expecting a rush of people clamouring for the new euro travellers' cheques Mr Dickson believes they will grow in popularity, particularly when the notes and coins become available and the euro becomes the only legal currency in participating countries on June 30, 2002.

Mr Dickson believes that Britain will eventually have to join the single European currency and give up the pound in favour of the euro.

"It is a foregone conclusion that we will, sooner or later, have to join," he said.

"I think it is a shame that we haven't already."

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