22 — North Shore News - Sunday, June 18, 2000 HIGH TECH Balancing travellers’ cheques, credit, cash NEWS photo Julie tverson Web wish granted SEVEN-YEAR-OLD Heidi Scoten beams as she test-drives the new Compag com- puter and Lexmark printer she received from the Sunshine Foundation, a charity that grants the wishes of sick children. Electronic customer support key From page 15 along with top-notch cus- tomer service — in a cost-effi- cient manner will stand to gain a great deal. Margins on such services will not be high, but there lies potential for ’ huge volumes of transactions to make up for this fact. @ECRM .. . Electronic customer rela- tionship management stands to change the way customers are = Supported, before, during long after a sale. The companies that enable online customer self-service, which will co-exist with call centers and other traditional forms of customer service, will win big. @ online business exchanges “Whether it’s a metals mar- ket, a cattle auction or a dia- mond exchange, the compa- nies that help enable and develop online _ business exchanges are. well positioned to provide strong shareholder value and build strong futures. In part two of this series, we look at which companies are currently pioneerin these sectors, while high- lighting the other five sectors to watch. — West Vancouver resident Geof Wheelwright is Chief Operating Officer = at . Wheelwright bas more than 18 years of experience in working with technology companies, newspapers, magazines, book publishers, television and radio programs, DON’T be foreign to exchange rates when you plan a trip outside Canada. Make a few phone calls just Gefore you head out to buy travellers’ cheques in the foreign currency. You could save quite a bi, depending on how much you are convert- ing. Keep it simple. Ask: “How much will it cost me in Canadian funds to buy (the amount of the foreign currency travellers’ cheques)?” Most places include their profit when they give you a quote, but just in case, also ask “Are there any service charges or is that my toral cost?” (Use this same approach when you buy a money order or bank draft in a foreign curren- cy. In this case, unless you have a banking package, you usually do also pay a service charge.) Phone the place(s) where you do your banking and similar institutions, but also check forcign exchange dealers. Using ATMs and a credit card while abroad allows you to skip the above steps. But buying travellers’ cheques in the foreign currency lets you lock in your costs. You can’t predict which way the Canadian dollar will move. Depending on how long you phn to be away, you might like to hedge your ets: Buy about half the money you expect to spend in the foreign currency travellers’ cheques and spend the rest through your credit card and ATMs. If veu are travelling ro remote areas, you might want to buy some foreign ‘bank notes, too — you should always have some on hand anyway to deal with incidentals on vour arrival in the country. And US. dollars never go out of style, although unless vou are buying them with funds from a U.S. dollar account, you will pay an extra conversion rate (Canadian to U.S., then U.S. to the foreign currency). Read up ahead of time (in a travel guide like Lonely Planet or through the Internet) or ask after you arrive about the costs of cashing travellers’ cheques or otherwise buying, foreign currency. Sometimes hotels give very competitive rates, at other times you are better to deal with a bank or a forcign exchange dealer. Again, ask or work out how much you will actually receive for your §100-worth of t travellers? cheque after commissions or other service charges. Finally, always keep a cough conversion fac- tor in your head (or noted down somewhere handy) so you know how much the item or service is costing you in Canadian funds. This is particularly important when you are paying by credit card; otherwise you won’ be hit with the expense until after you get home and see your statement. Mike Grenty is a columnist and independent personal financial adviser; he'll answer questions tn this column as space allows but cannot reply personally — contact him at mike@grenby.com and see previous columns at . www.nshews.com Explore the unique talents of local Native artists showcasing their work atop Grouse Mountain daily from . 11:00 am - 4:00 pm Wednesday, June 21 until Sunday, June 25, The exhibition kicks off on Wednesday, June 21, with artist demonstrations, Native walking tours, and a traditional Salmon Barbeque over an open fire. Join us for the unveiling of a beautifully hand-carved Native Mask generously donated by Squamish Nation Manager Glen Newman to raise funds for the Squamish Nation Youth Centre through a silent auction. Native Art Exhibition Open Daily from 11:00 am - 4:00 pm. Entry is complimentary with Skyride admission and easily accessible Located on the Plaza area in front of the Peak Chalet Featuring over 15 local artists; from carving, jewelry, prints, pottery, masks, and much more. “@ Take a scheduled walking tour to the hfwus feasthouse and learn about the rich history of First Nations people along the way to this authentic longhouse atop Grouse Mountain. ' © Enjoy talking with the artists and watching demonstrations. National Aboriginal Day Celebration Wednesday, June 21st In Support of the Squamish Nation Youth Centre Join us to kick off the five day Exhibition on June 21. Savour the flavours of a traditional Native BBQ featuring salmon filets cocked over an open fire, served with Bannock bread for $8.95. Proceeds from the BBQ go to the Squamish Nation Youth Centre. Join us for the unveiling of “the Wild Man” hand-carved mask valued at $1,500. All proceeds from the Silent Auction go to the Squamish Nation Youth Centre. The highest bidder will be determined at the close of the exhibition, Sunday, June 25. We hope you will join us on National Aboriginal Day and celebrate the unique heritage of our First Nations People! For more information contact Grouse Mountain Guest Services at 380-9311 ih WUS