Traveler's Cheques

The first response is that travel checks are really old fashion but don't say that in front of your parents. Just tell that there has been enormous problems with fraud so local merchants absolutely do not want them and bank will cash them but charge very high fees because they are trying discourage the use of TCs. Second issue is convenience. You have to find a bank that is open and that can be inconvenient. Let them take a few for emergency but I don't that is the best either. Because, if you do have an emergency, then you still have to find someone to cash the d... things.

When I traveled with my parents several years ago, I convinced my dad that it was time for the ATM card. Once he realized the financial advantage and the convenience he was sold on it. I think he still doesn't use it at home, but he's ready for travel. Pam

the other issue is that we found on our first trip that it was difficult to use them. Even some banks did not want to take them. The best bet for cashing them in places we went to were post offices.
But since that trip we have never used them again.

We travelled with UK Sterling travellers cheques last year and none of the banks we used charged us any fees for cashing them in. No problems cashing them as long as we produced a passport. The only fee involved is a small 6 dollar fee when we bought the cheques, and that was 6 bucks per thousand. Considering what a bank may charge for accessing your account from overseas, I thought this was pretty reasonable. I have never in 27 years of travelling had a problem with travellers cheques, I have used them in the USA and all over Europe.
Nevertheless, a bank card is alot easier to carry around than something the size of a cheque book!!
Pete

Often people fear they'll lose all their money in their account with a debit card. In reality, if all transactions, credit or debit, were with PIN's, we'd have less card fraud, not more. But I digress, so I'll climb off my soapbox. Have them open up a separate checking account that they'll just use for their trip. Their bank will not think they're crazy-banks do this all the time. They should each have a card for it, and of course, notify the bank of their travels.

My mother-in-law has an ATM card she has never used. When we travel she takes cash! She has really gotten upset lately when some local places will not take her personal checks . . . they don't take checks period or they will take a check and give her back the check because it is treated like a debit card.

Here is a couple of options to consider:

1. Have your parents open up a special travel account and use the ATM card just for that account. Each should have a card or you could be the caretaker of the card and do the withdrawals for them if it would traveling easier. One less thing for them to worry about will make your trip enjoyable for all.

2. They could order all their travel funds (Euros, pounds, whatever) from their bank and just take cash. Be sure to keep it separated between their money belts. I have a friend who does this as she doesn't have a credit or ATM card. She only deals in cash.

I will bet, Pete, that the banks buried their fees in the exchange rate. That is the common practice. It is well that you didn't have any problems but there have been many postings on this site and others of people who have had problems and have been charged outrageous exchange rates. Consider yourself very lucky but it may not apply to others especially using US dollars. Problems with ATMS are very minimal.

Thanks to all of you who have voiced your opinion or shared advice! I will encourage Mom and Dad to open a separate "travel account" with an ATM so they will worry less and have much more flexibility in getting cash.

Lise
My parents are old school and still use TC's. They didn't want to "learn" how to use an ATM.

In our last trip to Italy, I brought my ATM card from a different bank account for my parents. I did the ATM transactions for them, and gave them the money to spend.

They still refuse to use an ATM but the fact I did the steps for them saved us so much time and headaches.

It helped save time in finding a bank/ money change place. And, As Rick said... the TC's came back home with them.