Travelers Checks Versus Credit Card

AnthroAndStargate

Golden Member
Oct 7, 2005
1,350
0
0
ATOTers who have traveled,

Would you recommends using all travelers checks (to convert to local currency) or limited travelers checks and a Visa credit card (for all places that take credit card).

I ask this because I am not sure if Visa still charges a "currency conversion fee" and an "international fee" for using a credit card.
 

jagec

Lifer
Apr 30, 2004
24,442
6
81
There's a fee, but frankly, I find that traveling with cash + ATM card + CC to be easiest and most convenient. Traveler's checks have fees too, and they're not nearly as universally accepted as cash or plastic.

Does you bank have any partners in the area? I was able to make no-fee withdrawals from BoA in a number of countries.
 

Bill Brasky

Diamond Member
May 18, 2006
4,345
1
0
I found that visa gave the best conversion rates when I traveled last summer. There were minor international fees of ~.50C, which is why I mainly used atms and dealt with cash.
 

HombrePequeno

Diamond Member
Mar 7, 2001
4,657
0
0
Well if you're going to Europe, don't plan on using your credit card too often. A lot of places there simply don't accept them.
 

wiredspider

Diamond Member
Jun 3, 2001
5,239
0
0
Where are you going?

The fee depends on your CC issuer, like capone has no fees on FOREX. I would try to go with a debit card that you can use overseas for little or no fees and withdraw in local currency. HSBC use to be 1%, but it's 3% now :/.
 

runzwithsizorz

Diamond Member
Jan 24, 2002
3,500
14
76
Originally posted by: HombrePequeno
Well if you're going to Europe, don't plan on using your credit card too often. A lot of places there simply don't accept them.


Its not that they don't accept them, its cuz they lack the ablity, but most larger businesses do.
On my recent trip, I exchanged $500 US for Euros,(=aprox. 350, yikes), before leaving, for taxi's,tips,etc. A debit type card is a must! Travelers checks are a thing of the past.
 

KeithTalent

Elite Member | Administrator | No Lifer
Administrator
Nov 30, 2005
50,235
117
116
Credit Card and ATM are the only way to go.

Traveler's Checks are a waste of time and money and in fact a lot of places do not even accept them anymore.

As long as you are in a reasonably urban area, you will not have any problems.

KT
 

zinfamous

No Lifer
Jul 12, 2006
110,512
29,099
146
Traveler's Cheques are a terrible idea, esp considering the plunging value of the dollar. They've been obsolete for at least two decades now.
 

wiredspider

Diamond Member
Jun 3, 2001
5,239
0
0
I went to China this summer, lots of ATMs in the populated areas. Discover card works like their UnionPay card, which is like the MC/V of China, but be warned it might be difficult to get them to accept an "american" card.
 

AnthroAndStargate

Golden Member
Oct 7, 2005
1,350
0
0
Originally posted by: wiredspider
I went to China this summer, lots of ATMs in the populated areas. Discover card works like their UnionPay card, which is like the MC/V of China, but be warned it might be difficult to get them to accept an "american" card.

I'll be in Suzhou - an hour outside of Shanghai - from what I remember there werent many ATMs. My Visa worked fine in tourist areas but I will be needing hard currency this time as I am going to be doing research things and needing to pay for things via RMB.

Do debit cards (like Bank of America's visa debit card) work in China? I am assuming they charge a lot of ridiculous fees as opposed to travelers checks.

Also why are travelers checks bad in relation to the USD plunging? Wouldn't it be the same for cc/debit?
 

Babbles

Diamond Member
Jan 4, 2001
8,253
14
81
Travlers Checks are just about 100% pointless. A debit and credit card is all you need. From my experience any larger place or place that caters to tourists will accept credit cards, but ATMS can be found all over Europe, at least, and that is the way to go.
 

AnthroAndStargate

Golden Member
Oct 7, 2005
1,350
0
0
Originally posted by: Babbles
Travlers Checks are just about 100% pointless. A debit and credit card is all you need. From my experience any larger place or place that caters to tourists will accept credit cards, but ATMS can be found all over Europe, at least, and that is the way to go.

Why are they pointless? aren't they the same thing as a debit card in terms of cost/currency conversion
 

runzwithsizorz

Diamond Member
Jan 24, 2002
3,500
14
76
Originally posted by: AnthroAndStargate
Originally posted by: Babbles
Travlers Checks are just about 100% pointless. A debit and credit card is all you need. From my experience any larger place or place that caters to tourists will accept credit cards, but ATMS can be found all over Europe, at least, and that is the way to go.

Why are they pointless? aren't they the same thing as a debit card in terms of cost/currency conversion


Sure, the airline, hotel, large grocery stores, and car rental agents all take credit cards, but after that, who are you going to be doing business with on a daily basis? For me, it was; street venders, bars, merchants, buses, restaurants, taxi's, event, and museum tickets, all of whom want cash. They do not want your piece of paper to put in their cash drawer, and then give you change back in cash, which will deplete the amount of cash they have on hand to conduct business, and to make change for all of their other customers who have brought with them, and rightfully so, --- CASH !!!
How would you say,"stupid tourist", in Chinese?
 

LS21

Banned
Nov 27, 2007
3,746
1
0
capital one visa = widely accepted, and no conversion fees
also use debits in place that dont accept CC. a dollar or 2 fee..no big deal