Cash/Atm/Travellers Checks? in Italy

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elsewhere on this web site - lots and lots of opinions and information.

Travelers checks are dinosaurs:

After you've watched the video, read Money 101.

General rule of thumb: Use credit cards for major purchases and get cash from ATMs for everything else. If you take any travelers checks, consider them an emergency resource and plan to bring them home unspent.

Rather than taking euros with me, I get some at an airport ATM after I arrive in Europe. On the very slim chance that I can't find an ATM that will accept my card, I carry a few hundred US dollars in my money belt. Because of the high fees for doing so, I'll use an exchange bureau only in an emergency and I'll hand over just enough of my dollars to get by until I can find another ATM. (I've never had to do this.)

I know it is often recommended to use TC as emergency back up, but I really think the recommendation is flawed. First, if you truly have an emergency and need cash in a hurry, TCs are not the way to do it. First problem is that it is going to be difficult to find someone who wants to cash them especially on a weekend. Second, even if someone is willing to cash them the fee will be terrible. I bury a couple $50 bills but would go to a cash advance on a credit card if I really had an emergency. We take two debit cards on two different accounts, three credit cards, and two $50 bills. In 15 years have never had to go beyond the first debit card.

Ilene,

The method I use is to travel with a small amount of cash (perhaps €100) for expenses until I get settled (meals, taxi, etc.). After that I use ATM's to obtain whatever cash I need.

I definitely agree with Rick on the subject of Traveller's Cheques - I've cashed my last one!

As Tim mentioned, credit cards are great for large purchases (Hotel rooms, car rentals), but I use cash for all other purchases. Note that some Hotels will take reservations using a credit card, but the bill must be paid in cash. Some of the Hotels that will accept credit cards will offer a discount for paying cash.

With ATM's note that your travel funds must be in a chequing account with a four-number PIN. It's a good idea to take two ATM cards on different accounts, in the event there's a problem with one of the cards (which happened to me in June, so I can attest to the value of packing at least one extra card).

Cheers!

Yeah, this question gets asked in one form or another several times a week on this forum.