Should I get travelers checks?

[PowerMacG5]

I am going to Europe (London and Paris to be specific) for the first time, and my mom wants me to get travelers checks. The friend I am going with is just bringing cash.

I know that travelers checks offer security (if they are stolen, you get your money back), but are they accepted everywhere? If not, how do I use them?

I want to find out if I should get them, or not, so if you have pros and cons, please list them, thanks.

 

[Pepsei]

are you getting travelers checks for that country's currency? or in US dollar?

 

[alien42]

yes you should get travelers cheques. you may exchange them for local cash at any bank or forex and they are insured. i bank with bank of america and get travelers cheques for free so you might want to check into that with your bank. atms are often more convenient so i tend to use both.

 

[PowerMacG5]

Originally posted by: Pepsei
are you getting travelers checks for that country's currency? or in US dollar?

I didnt know that you got them in different currencies, but considering I am going to two countries, I guess US dollars.

 

[PowerMacG5]

Originally posted by: alien42
yes you should get travelers cheques. you may exchange them for local cash at any bank or forex and they are insured. i bank with bank of america and get travelers cheques for free so you might want to check into that with your bank. atms are often more convenient so i tend to use both.

What kind of charge is there to use my debit card in a foreign country?

 

[DeviousTrap]

Originally posted by: PowerMacG5

Originally posted by: alien42
yes you should get travelers cheques. you may exchange them for local cash at any bank or forex and they are insured. i bank with bank of america and get travelers cheques for free so you might want to check into that with your bank. atms are often more convenient so i tend to use both.

What kind of charge is there to use my debit card in a foreign country?

Shouldn't be any charges,

 

[alien42]

Originally posted by: PowerMacG5

Originally posted by: alien42
yes you should get travelers cheques. you may exchange them for local cash at any bank or forex and they are insured. i bank with bank of america and get travelers cheques for free so you might want to check into that with your bank. atms are often more convenient so i tend to use both.

What kind of charge is there to use my debit card in a foreign country?

from my experience it was negligible and rather difficult to figure out the exact amount since the money is also being converted to local currency at a varying exchange rate.

 

[Pepsei]

i got robbed by the money changer at the airport in washington d.c, i got 5000 yen from them at 107 yens per dollar, PLUS fees.

when i got to osaka airport, they were doing 110 yens per dollar and no fees.

at anyrate, if you can get travelers checks for free from your bank, why not?

 

[PowerMacG5]

Alright, so I think I will get travelers checks. Are they different for different countries, or you just make them out in that currency?

Also, does this mean I now have to find a bank when I get there, or do stores, pubs, etc... accept travelers checks?

 

[realsup]

Originally posted by: Pepsei
i got robbed by the money changer at the airport in washington d.c, i got 5000 yen from them at 107 yens per dollar, PLUS fees.

when i got to osaka airport, they were doing 110 yens per dollar and no fees.

at anyrate, if you can get travelers checks for free from your bank, why not?

Where the hell is Jesus to set those people straight?

 

[Pepsei]

Originally posted by: PowerMacG5
Alright, so I think I will get travelers checks. Are they different for different countries, or you just make them out in that currency?

Also, does this mean I now have to find a bank when I get there, or do stores, pubs, etc... accept travelers checks?

the thing is, if you have travelers checks in US dollars, you still need to convert to local currencies. stores and pubs would accept trvelers checks in their own currency.

 

[TheWart]

I do not recommend traveller's cheques. They were kind of a hassle for my bro's trip to London.

During my semester in France/europe (just got back), I relied solely on my debit card. Euro ATM's don't have a fee yet, and my bank gave me 5 free non-my-ban atm withdrawals a month, so it worked out find.

I didn't have to carry lots of cash/cheques on me, and I had access to cash pretty much everywhere (since there are tons of atms). It's the way to go for sure.

Have fun!

 

[DeviousTrap]

I'll second the suggestion for forgetting cash and travelers checks and just relying on debit/credit cards. Visa and Mastercard are accepted everywhere in Europe, just like they are here. You should also keep in mind that you will get a better exchange rate when you pay with them as the rate is determined by your bank here (which will favor US dollars).