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My point in noting the exchange rate to GBP is not that Travelers Checks are such a great deal. It's that we need 490 GBP for our B&B stays and we don't want to carry that much in cash.

We also think it will be difficult to withdraw enough to cover the lodging plus other day-to-day expenses, etc. So we are going to do a combination of Travler's Cheques & cash (we can order foreign currency through our bank) to get us started, then use our ATMs & credit cards.

Does anyone worry about having their credit card info floating around all over the place (fraud)? Seems like that might be a bigger risk than bringing the cash with us. It does concern me.

<i>Does anyone worry about having their credit card info floating around all over the place (fraud)?</i>

If you're concerned about that, never buy a dinner using your credit card. They can take the credit card and bring it back to you after they've copied down all of the numbers and information. So, if you're concerned about credit cards, you're best off not having them.

Besides, no matter how much money is pilfered when someone uses your credit card illegally, my understanding is that the most any American bank will hold you responsible for is $50 per card.

dbaker: You have more to worry about an any trip than someone getting your credit card info. It is MUCH safer using a credit card than having a lot of cash on you. Just think about it -- a cc is protected/insured against fraudulent use. Cash is simply free for the taking and there are no safeguards from loss or theft.

&quot;The first to B&amp;Bs we are staying in require payment in cash or Sterling Cheques. So we are getting American Express Travlers Cheques in British Pound currency before we go.&quot;

You are not expecting the B&amp;B will take a travellers cheque as payment are you? Chances are they won't. when they say a sterling cheque, they mean a cheque you write yourself from your checking account, not a travellers cheque. Travellers cheques are not intended for use as direct payments. You'd better clarify it with them before you go.

nona is correct. I thought about mentioning that - but the &quot;logic&quot; about spending even more to get travelers checks because the exchange rate is lousy sort of threw me.

travelinsue: Please don't expect the B&amp;B owner to take your TCs. They would have to pay the same fees to cash them as you would in a bank. It will end up costing them quite a bit - and IF I were them I would increase your room rate if you foisted the TCs on me.

A &quot;Sterling cheque&quot; is a personal (or business) check drawn on a UK bank account. Your Sterling Travelers Cheques will have to be cashed at a bank (or post office) before you pay the B&amp;B - thereby costing you even MORE.

Please take our advice and use your ATM cards. If you have a low daily limit simply have your bank increase it. You can make it a temporary increase if that makes you feel better

and i forgot to mention the poor woman in florence who asked me directions to the american express office because there was no where to cash her travelers checks.and thi was in a large city.use ATMs

Why couldn't the B&amp;B owners just deposit the GBP travelers checks in their checking account?

I deposit USD travelers checks in my US checking account from time to time and it's just like depositing any other check. There's no fee to do so. Your account gets credited with the face value of the check. Does it not work that way in the UK?

There are 2 issues when exchanging money: the exchange rate and any fees. And, if buying on Ebay, shipping expense. All have to be taken into account when computing the cost of the exchange.

For those whose credit card charges 3%, get another credit card to use abroad. My credit union card charges the standard 1%. (Note the American Express CC is not accepted many places.)

Likewise I've never been charged a fee on ATM withdrawals using my credit union ATM card. Plus it's a good exhange rate.

BillT, when you leave a second CC in your hotel, where do you leave it? Hidden in your room? In the room safe? In the hotel safe, hopefully?

So, the good news is that both of our B&amp;Bs in the UK will accept Travelers Cheques in GBP through American Express.

We will also get some British Pounds from our bank prior to our trip, so we will have $1000 US Dollars worth of Travelers Cheques in GBP to pay for our lodgings the first 8 nights of our trip, with an additional 300GBP on hand so we don't have to worry about finding an ATM the minute we step off the plane (although I am sure there will be one sitting there in plain view). We also won't have to convert currency at an Exchange Kiosk (rip-off booth).

Yes, we will have our ATM cards &amp; Visa card at the ready for the rest of our trip (also doing a week in London).

Last year we traveled to Germany, Austria &amp; Switzerland using our ATM cards with only one hitch. We arrived in Salzburg &amp; needed some Euros. Again, we were staying at a small B&amp;B that only took cash. We attempted to make a withdrawal from the ATM machine and it wouldn't let us. We tried several machines affiliated with different banks. No dice. We thought about the time difference &amp; realized that our bank was probably doing regular maintenance to their system, so we sat in Mirabell park eating ice cream (it was a hot spring day). After a couple of hours we tried the machine again and successfully got some Euros. Phew!!!

ATM cards are the best way to get cash, but don't let your supply get too low...

I often take out the equivalent of $300 from ATMs. I'll only put $20-$50 in my wallet or pocket with the balance in a neck pouch. Why carry so much? Because my bank charges $3.50 for each withdrawl, so I don't want 15 separate transactions during a 3 week trip.

If I have a hotel safe I may put some of the extra cash in there.

Lessons Learned:
Every trip has a lesson that we can take away from it. This trip's lesson is to not bother with Traveler's Checks. We thought we had ordered them from American Express, only to never receive them (our cc was never charged either, thank God!). I ended up writing a letter to AmEx telling them that their purchasing system was completely messed up. I was polite, but let them know I was disappointed in their services.

We purchased some GBPs from our bank, but we probably won't purchase too much in the future. They simply charge too much. The ATM fees are less.

For our future travels our plan is to buy some of the local currency through our bank, enough to get through a day or two so we don't have to worry about finding an ATM right away. But we will use our ATM cards and credit cards for our trips from now on.

Thank you all for the lively debate. I am looking forward to being a seasoned and wise traveler with your assistance.

To answer the originally posted question...I carry about 350 pounds when going to England...mainly to have for tipping, short sidewalk meals, tube passes. I wear it in a pouch under my shirt. I have 2 credit cards. I feel okay with this setup...

As for the unbelievable number of posts on 1% v. 3% v. hidden fees, v. ATM, travelers cheques...I can't believe how ridiculous this all is. I'm on the conservative side and spend about 5k on a family vacation...everything included...we'll blow the charge y'all are haggling about on a taxi ride for convenience. I know many of you have higher budgets than I do...but is it really necessary to get into an in depth discussion over saving a few quid or arguing which option is better? Let everyone offer up the options and pick their own plan that fits them...don't see the need to quibble.

Tara

My wife and I are in a bit of a Quandry. We are leaving for Spain in about 5 weeks. We will spend about 3-5 days in the Barcelona/Costa Bravo area and then traverse the Pyrenees to the San Sebastion area. Our quandry is cash or travelers checks or would we find ample ATM's during our trek of the Pyrenees.
BS

Hello ma23peas,
I agree...I was a salesman for years. I learned that most people are well aware of the value of $5 but never of $500. Many will question a $1.50 charge but not a $500 one.

I take euros and credit cards with me. I will take an ATM card, but have never used it..and really don't plan to use it! I prefer the convenience of having the funds before leaving. So what if I pay a bit more. I prefer the convenience. As far as safety...I have been travelling for a very long time without a problem. I am not careless...someone could knock me down here as well as in Europe and steal from me. That would be the only way.

Everyone has their own preferred way of taking funds. There are many options. I don't know why these discussions come up so often..really seems unnecessary, at least to me.

If your credit card is stolen (or lost) as long as you report it missing as soon as you know it is missing, you are only liable for $50 of the fraudulent charges (maximum.). Also, the fraud alert and security departments that work to safe-guard your credit card are pretty sophisticated now...because they don't want to have to pay for fraudulent charges! Therefore they have caught the problem the few times when someone did try to fraudently use our credit card, because they are trained to follow your usual pattern of purchasing and to question it when there is a change in the pattern...certain situations trigger a call from them...I am very impressed with how on-the-ball they are! Of course that is why you must tell them when you plan to travel and where you plan to go.

Also, if there is a charge on your credit card which you know you didn't cause...you dispute the charges with the credit card company. They will then look into it, contact the persons involved, and they always successfully figure out if it's fraud or if it's something you just goofed and you did buy (they have your legitimate signature if it's real and they can show it to you if necessary.)

Nevertheless, even though we know we are protected, we are also very careful. I don't even leave credit card receipts on restaurant tables any more...I make sure they go directly to the waitress.

One of the reasons this discussion may come up so much is because of my unfortunate story. I spent a month in Tuscany this past May and had what can only be described as a horrific experience with an ATM transaction. I'm still not over the shock and disappointment. Hopefully, by reading this, others will not be victimized the way I was.

We spoke no English. My friend had opted to bring all her Euros with her from America to avoid the very thing I experienced. I spent most of the time trying to find ATM's that would take my STAR network card. They were very few and far between. Finally I found an obscure bank in Florence that took it. I made the transaction and was putting my card back in my wallet. As I did this, I watched as the ATM machine sucked my money back inside of it. The bank was closed for lunch. The machine took $250 Euros from me for no apparent reason. It spit out a receipt saying it had dispensed this amount to me.

We waited an hour for the bank to reopen. Not a soul in the bank spoke English and it was a comedy of errors trying to communicate what my problem was. The bank officials told me finally that they understood my problem but that it would be impossible for them to give me the money as the bank had very strict rules about such matters. They basically dismissed me by saying I was out of luck. I was in tears and could not find a soul in the place who spoke English. They said the matter would be resolved in 15 days. They never took any identifying information from me and I suspected I was being scammed! I have been back since June and to date, my account has not been credited with the money, which was $350 American dollars. That really hurt financially as I am not rich and had to save a long time for that trip.

Those people at that bank must have had a fun night out with my money, while I was hopelessly vivtimized in a foreign country where I did not speak the language. I would say this experience just about ruined my vacation which I had been looking forward to all my life.

In most of the countries of Europe, and I say most because I don't have first hand experience in some, if your ATM card takes a dump, you can go inside the bank and have a teller assist you. You can then get money from your account just like the ATM and there's no fee either.

Which ATM cards do you find have the lowest fees- American Express/Mastercard/VISA? Which banks have the best offers? What advantages do debit cards have over ATM's?

Ceili

lily, I am confused. 2nd paragraph starts out with &quot;We spoke no English&quot;. What did you mean? Did you mean that you spoke no Italian? Just trying to figure out your post.

agile do you read the posts completely ,, the post by Lily is TWO years old,, and it is also obviously just a typo as she explains later about not speaking Italian so don't split hairs, most of us can figure out what she meant.

We were warned that in Romania many places are cash only. While we never had a problem getting money from an ATM, unless you plan well ahead, you never know when there will be an ATM. We experienced many places that would take only cash, even in a large city where you wouldn't expect that to occur.