On my last trip to Europe, London, Paris, Rome, I took a combination of cash and American Express travelers checks. I did my extanges in Banks with no real problems. What do most of you do? Are banks my best bet? Are American Express travelers checks the best to use? Regards,
Jon
Posted by
Tresana, Highlands Ranch, CO, USA
23460 posts
Your last trip must have been a while back. Without question, the cheapest and most convenient way to obtain local currency is a debit card at a bank ATM in Europe. Just like the US, ATMs are everywhere. The probability of finding someone who would take a TC and not charge an arm plus the rights to your first born is very low if not impossible. TCs have not been a useful way to obtain cash for over a decade. Too much fraud.
Posted by
Long Beach, CA, USA
359 posts
nobody uses travelers checks anymore it's most common to use ATM to get cash use credit cards for major purchases, preferably cards without foreign transaction fees (like Capitol One...)
I believe RS covers this information in his books
Posted by
Laflin, PA, USA
70 posts
Hi John. I agree. Outside of taking Euros with you (which is what I plan to do this summer), using ATMs is a safe and affordable way to go. Also look into a credit card with 0% Foreign transaction fees.
Posted by
Vernon, Canada
32253 posts
Jon, As the others have pointed out, Traveller's Cheques are an antiquated relic of the past, and very few people use them anymore. These days it's difficult to find anywhere to even cash them. As Rick frequently says "I've cashed my last Traveller's Cheque". You might enjoy watching This Short Video. ATM's are the easiest and quickest way to obtain cash. Travel funds must usually be in a chequing account with a four number PIN. I would highly recommend taking two ATM cards, in case there are any problems with the primary card. I've had that happen so that recommendation is coming from personal experience. At least one credit card is also a good idea. Of course, DON'T forget to notify your financial institutions and credit card firms prior to your trip. When they detect card activity in Europe, they may "freeze" the cards if you haven't notified them. Cheers!
Posted by
OP
CA, USA
20 posts
Thank you to all for the responses. Actually my last trip was 2 years ago, and although I did have to drive some here in the US to get the American Express TC, once in Europe I didn't have any realy problems cashing them. Never the less, I will take the advice of the good people here and explore the zero transaction fee debit cards and zero transition fee credit cards. Thanks again, Jon
Posted by
Toledo
653 posts
You may also want to ask your bank to raise your daily withdrawal limit on your debit card.