Hello ~ were on our way to Greece next week ~ yeah!! Can you please advise as to if we should be bringing a bunch of Amex Travelers Checks to exchange into Euros, vs. using our ATM at most places. I heard conflicting advice and just want to get the best exchange rate possible, of course! thanks a bunch!!
Travelers Checks are dinosaurs, best to use ATM machines. Check out this video for details:
Forget TCs, the exchange process is annoying and you won't get a good rate. ATMs are everywhere now, in the airport, in Athens and on the islands. The locals use them too. Just bring a few TCs for emergencies. More than likely you'll never need to touch them.
And be sure to call your banks customer service number before you leave home to advise them when and where you will be travelling to. Do this for both your CC and Debit card; otherwise, they will likely put a hold on your account.
There is a huge fraud problem with TCs or, I should say, there has been a major problem. But no more, it is nearly impossible to find someone who will accept them other than some banks who then tack on a service fee. I am interested in knowing where or from whom you have been receiving conflicting advice. I don't know of a single guidebook or experienced traveler that would advise anyone to carry travel checks. And I don't think TCs are appropriate for backup or emergencies as some might suggest. If you have emergency need for cash, you need cash not the problem of find someone who will cash your TCs. Put a hundred bill in your sock and you will be fine.
Thanks all for your great advice !!
I think you have enough info on traveler's checks...but one additional thing is that Greek banks close early on Saturday and take siesta breaks, so if you only us TCs you can easily get stuck using an exchange booth that will take a HUGE commission. Definitely use your ATM--just make sure to clear it with your bank before you go!