nicegirl512

I was thinking of getting an AmEx TravelFunds card so that I can get access to their generally highly regarded customer service in the event I lose my passport, etc. You purchase the card for a certain amount of money, and though it appears and acts like a credit card it's more of a "gift certificate" type thing. If it is lost or stolen it's replaced within 24 hours.

My other credit card is with MBNA, which I have not had great customer service from (I called to let them know I was going to Italy and spent 20 minutes on the phone repeatedly turning down various "great offers" before the representative would give me any actual service) and my debit card is with my tiny local credit union that does not have the resources to provide comprehensive overseas services.

I have a couple of questions.
-Has anyone ever used this service and can you offer me an opinion?
-It's $14.95 and $2 per ATM withdrawal plus AmEx's higher 3% conversion rate (you can buy it in Euro or dollars, but if you buy it in Euros from within the US you're charged the 3%, so there's no way to get around it). I would use it primarily for getting cash. It has a $400 daily limit and my debit card has a $300 daily limit, heaven forbid I need cash for some ungodly reason and not be able to get it so I'd like to have two means of getting cash and MBNA of courses charges outrageous cash advance fees to use the credit card at an ATM. Does this sound like an OK deal?

http://www10.americanexpress.com/sif...1,18622,00.asp

platzman

I've never used this card and so I honestly cannot give you first hand knowledge of its value or customer service.
From learning about it on the AMEX website, I honestly don't see what big advantage it has over your existing bank debit/atm card.
And if you do a search on this forum, you will discover mostly negative comments from travellers.
The biggest problem seems to be the fee to buy it, then the fee to use the ATM, then the 3% loss on the exchange rate. Keep in mind that this is YOUR money you are accessing!
My Visa Check card has NO fee for foreign ATM use, and a 1% loss on the exchange rate charged by VISA.
I think that is as reasonable as it gets. And for backup, I can always bring another ATM card from a different bank, plus credit cards as a last resort for cash advances in emergencies.

Robert2533

It's a sucker deal, a way to generate some extra revenue from the inexperienced traveler. It's an extension of their AmEx travelers checks, which have never been a good deal and are even less now because of the access you have to VISA in Europe. AmEx stopped giving service to all but their best customers several years ago. The only one who can help you if you loose your passport is the US Consulate in what ever country you happen to be in when it happens. AmEx has no pull with the US Government.

I know of one gentleman who lost his passport last year on his way to Madrid and, even though he is married to the daughter of a powerful (retired) US Senator, he still had to jump through the hoops and wait until they issued him temporary papers to get back home. The Spanish government didn't seem to worry too much about it since he still had his drivers license and was free to travel anywhere in the EU while he waited for things to happen.

AmEx is fine for a lot of things, but we no longer use the card when traveling. Their exchange rates are lower and their service fee is much higher than Bank of America or MBNA's credit card charges. Bank of America will even drop the non-Bank ATM charges ($2.00 a use) if you are a regular customer. You have to ask because it is not automatic.

Regarding your daily limit on both your credit card and debit cards. Contact your bank and have them raise the daily limit. They will raise it according to you credit rating, but again, you'll have to ask since the normal daily limits for debit cards is around $300/day and the same with certain credit cards. It all depends on your standing with a particular bank.

Christina

It seems like a lot of money to pay for nothing except that you think they will help you somehow if you lose your passport.

I don't worry about that too much myself, but if I did lose mine, I guess I'd go to the nearest American embassy or consulate, as I think that's what you are supposed to do.

I don't know how paying American Express is going to help that process, but I generally don't pay fees for services like that I can do myself.

platzman

So to summarize: AmEx needs YOUR money more than you need their help. Their ads try to convince you otherwise.

ira

Hi ng,

As noted, you are paying AMEX for the privilege of accessing your own money.

I suggest that you get an AMEX card. It can be used as an ATM card (with a PIN) or as a charge card.

The advantage over a debit card is that if it is stolen, you don't have to worry about thieves accessing your bank account.

Before I am flamed:
Yes, you will get your money back, but it is more hassle.

PLMN

As anyone on this board can tell you I have been obsessive about investigating things for my trip.

One of the areas I have been researching is travel finances. My investigation has shown that the Travel Funds Card from Amex could be viewed as a big rip off. The costs associated with the card don't seem to be worth it. Under certain circumstances it might be of value to someone,(like youngsters you don't want to give a debit or charge card,) but for the most part if you have other resources available, use them.

I apologize ahead of time if anyone disagrees.

Travelnut

I don't see any need to apologize if anyone disagrees.

nicegirl512

Thanks for the opinions! Sounds like the consensus is it's not worth it. Robert, it never even occurred to me to ask to have my daily ATM limit raised! Duh! That is probably the best solution, I have excellent credit and the advantage of belonging to a small credit union is that they are quite familiar with my creditworthiness. Thanks for the suggestions, everyone.