Travelers Checks yes or no?

Anna, No on the travelers checks. There are fewer places that accept traveler's checks than credit cards. The ATM is the best way to pay cash. There are many threads on this site that talk about banking and money. Check them out! Linda

Thanks Linda, good to know!

I agree w/Kim & Linda. I've made numerous trips to Europe and always use the ATMs. Have never had a problem.

But, I always take a minimum stash of travelers checks just in case. Have never had to use them but you never know!

Linda what is a minimal amount of travelers checks in your opinion? $50, $100, $200????

Keep in mind I'm 24 and will be more on a budget than splurging etc.

Thanks!

woops sorry, I meant Gail :)

Anna, I'm the same age as you and will also be traveling on a budget, and I am going to use strictly ATMs. I'm going to get 50 pounds and 50 euros from the bank, just to have upon arrival to make sure I can get to my hotel no matter what, but the rest will be ATMs only. I have a WaMu card (Which I have read may have some usage problems) and I just opened a B of A account - they are both pretty much the same - a few dollars per transaction plus 1%. That is a WAY WAY better rate than you get with travelers checks, plus ATMs are everywhere. I remember taking travelers checks to London when I went with a high school trip and even 8 years ago it was a complete pain in the butt.

Use ATMs. They are everywhere, even in little towns. I was in a village on Lake Como and other than a post office and 2 shops there was nothing, but there was an ATM. I have found the exchange rate to be very competitive. Travellers cheques are just a pain. If your worried about the machine eating your card or similar then try and take a second one as an emergency.

I agree with Helen. You said "we" so I assume you will have 2 of everything. If you lose everything you're in more trouble than just traveler's checks. Make sure each of you has a way to access money and read up on the ATM scams / problems that can happen. There are a couple described in detail on this site.

Yes my boyfriend and I are traveling together...
-2 wallets
-2 credit cards
-2 debit cards
-and I guess now 2 sets of a very small amount of travelers checks just in case. We can always use them at home if we don't over there.

thanks everyone!

Take the advice of all those other travelers and use your ATM card.

Travelers checks are costly to buy and difficult to cash. Finding an office to cash them is ALWAYS hard.
Sometimes you have to go clear across town to do it.
Why bother when you can find an ATM machine in stores, service stations, post offices, malls, air terminals, RR stations and ferry terminals.

The PER-CHECK fees and poor commissions on traveler's checks can eat up to 20% of your money right at the teller window. And all this garbage the sellers of traveler's checks put out about how well they're accepted for payment really steams me.
For punishment, we ought to send those people on a trip to Europe with JUST traveler's checks and see how they like it.

Actually at AAA if you are a member they are free :)

Hi Anna,
We take travellers checks (in U.S. Dollars) as a back up, actually as a last resort. We take a credit card each and we each have an ATM card (each linked to our individual checking accounts). I belong to AAA so the travellers checks are free and when we get home, I cash them at my bank (also free). We haven't needed them yet. ATM's are everywhere.

Paul

Anna,
Traveler checks are free to get at AAA but they charge you fees when you cash them. You are better off with an ATM and credit card.
BTW, has anyone heard about these visa travel cards AAA is offering now? Any thoughts on them? I just got a flier in the mail last week about them, but I couldn't find much info.

Yes, you might be able to purchase the traveler's checks for free in the US, but the shocker comes when you cash in the checks for euros. You will find that many banks charge a fee per check, regardless of its denomination. Austrian banks several years ago were charging the equivalent of $8 per check. Considering the additional cost of a poorer exchange rate compared to ATMs, you would lose 50% of your money on a $20 traveler's check!

Obviously, I don't like traveler's checks. But if you insist on having them, bring 2 or 3 just for a last resort emergency. And only bring $100 denominations, so at least you'll pay fewer fees.

I used to take euros and travelers checks.Now I just take the ATM card and several hundred US dollars.They are good anywhere in an emergency but I mostly take them home unused.

Never use traveler's checks! Get a Captial One card and charge everything. the exchange rate is good, and you only pay 1%. Using money from the ATM is good too..make sure you use one attached to the bank, or in the airport is OK

Anna, traveler's checks are a relic of the past. Because they are so rarely used these days, many merchants are confused by them. ATMs are everywhere. Use your debit card at the ATMs, but you can also use your credit card in a pinch to get cash (and pay the cash advance fee). We've had advance warning that we would need to withdraw large amounts of cash from ATMs to pay cash. For example, gîtes in France and agriturismos in Italy often don't accept credit cards. Make sure you call your bank before you leave on your trip and inform them when you are leaving and returning and that they should not be alarmed by cash withdrawals in foreign countries. Call your credit card company similarly. They are very alert for fraud these days and a number of withdrawals in successive days in a foreign country when there has been no pattern of this before makes them nervous.

A warning: Using your credit card for a cash advance will trigger immediate interest charges on the entire outstanding balance (not just on the amount of the advance) in addition to fees. So, be careful!

I agree with Neil that you can't rely strictly on a credit card. Many restaurants and historic sites (in Italy, anyway) won't take them. It's best to get a few euros before you leave home and then plan on using a combination of ATMs and credit cards. Have a few Travellers Checks only if you really want the extra security.

Anna:

Do not bring Travelers Checks! Bring your ATM card and withdraw money as you would here in the States. Lots of places won't take travelers checks anymore and the exchange houses will charge you too much to cash them. With the ATM machines the banks back here will only charge you 1% of what you take out. This is the best deal!!! The ATM machines work just as they work here. You select Engligh language and follow the instructions and you will receive your Euros!!! Happy travels!!