Cashing Travel Checks
 

I'm going to the UK and understand it's less expensive to cash traveler's checks and use debit cards at a bank where I'm currently doing business. What U.S. banks have branches in the UK? Thanks!

You should check with your own bank for which banks in the UK are their partner banks--the banks may not have the same name. And no bank, not even your own, will give a very good rate to cash travelers checks, since you pay fees to buy them and then pay fees to cash them.

Travelers checks have gone the way of the land line.

Call your bank and credit card companies and see what their fees are and if the bank has branches in the UK and use their ATM's.

Be sure to get a four digit pin.

"<i>I'm going to the UK and understand it's less expensive to <strike>cash traveler's checks</strike> use debit cards at a bank where I'm currently doing business. . . .</i>"

Do NOT bring travelers checks. They are next to useless and will be very expensive to cash - IF you can even find a place that will cash them.

The main partnership is BofA w/ Barclays. But no matter which bank you are with, using your ATM is the best way to get cash.

As Janis pointed out BofA uses Barclay's, Chase partners with Nationwide Building Society, And Citibank has a branch at St Paul's , Hanover Square and 2 at Canary Wharf. You might check your bank website for their international partner banks if you don't bank with any we've listed

As said above, the travelers check has gone the way of the dodo bird. Put cash in your checking account, get a 4 digit pin, raise your daily limit to at least 1,000,( I do 1500) and get cash when you need it. ATM's are everywhere-except Doolin, Ir. Take credit cards for large purchases-hotels, car rental, plane tickets, emergencies, etc. I would take about 300 pounds every two or three days so if pickpocketed, you do not loose everything.

Who the heck told you that traveler's checks are a good idea? Anyone who says that has not been to Europe in at least 15 years.

Years ago the AmEx company did a very good job of marketing and made it sound like their TC's are as good as cash everywhere in the world but it's just not true. Even if you buy TC's in the local currency such as £ or €'s it's still expensive and difficult to cash them.

Follow the good advice above and use your debit card to get cash and your credit card for large purchases.

Excellent advice! Thanks to you all (and boy, do I feel stupid that I didn't know how extinct Traveler's Checks have become!)!
:)

Don't feel stupid... it just that you likely
haven't traveled abroad in some time.

You were SMART enough to check here first and\save yourself both money and a big hassle.

Have a great trip!

Thanks foro the kind words, ParisAmsterdam. It's so nice to have resources like your to count on for good advice!

Another piece of advice--you might want to have cards tied to two different accounts for debit card/atm use. Not every ATM is on the same network, and if your card doesn't use that network (like Cirrus, for example) then you have to look around for another ATM. And they are ubiquitous in cities, but still, if you have two cards from different accounts, you run a better chance of being able to use any ATM (if the two cards use different networks, of course--it they're just alike, then there's no real reason--unless for some reason one card won't "work" some time). Also if you have time you might check into getting a credit card, if you want to use one, from a provider that doesn't charge extra fee for overseas use. There aren't many; we have a Capital One card that we use only for overseas purchases and avoid the extra percentage charged by our "regular" credit card.

I'm sorry if I made you feel stupid. I think you were very smart to post this question instead of just taking TC's and finding out too late it wasn't a good idea. Have a great trip.

You will find it practically imposible to change travelers checks - and if you can find a place(even most banks won;t)the rate of excahnge will be truly awful.

The only thinking tht makes sense is to charge asuch as possible on CCs and pull cash from your checking account with a debit card at the nearest ATM. The very small fees charged for doing this are only about 25% of what it would cost to change either trav checks or cash.

P_M and all ... you didn't make me feel stupid; I know I'm naive about foreign travel, but thanks to all of you, I'm a whole lot smarter than I was when I started planning this trip. What a great resource you all are! Again, thanks!

Travelers checks are still OK some places (Mexico, Jamaica are two I know) just not Western Europe.

ATM at a bank machine is the best way to get local currency in pretty much all situations.

You have a great attitude, happy planning!!!

Thanks, suze! :)

There is a difference between a debit card and an ATM card, and it is worth knowing the difference. My bank (BofA) constantly tries to get us to use a debit card. We will not use a debit card. If you don't understand the difference, it will do you more good to Google it than for me to tell you.

I'll check it out ... thanks!

Ackislander, please be advised there are some places where <b>only</b> the debit card will work so I must recommend the OP should get a debit card. A few posters to this board, myself included, discovered too late the regular ATM card does not work in Belgium, it is imperative to have a debit card for ATM withdrawals. Thankfully I had enough cash to get by until the last day, that's when I took $70 US and exchanged it for €'s. Since then I have only used a debit card for ATM withdrawals when traveling and I've had no problems with that.

We-ell-- We have an ATM card and were able to withdraw money in Belgium quite easily. Not one hitch ever.

I think there is some confusion over what is an ATM card, which is actually designed as a debit card anyway, and an ATM/credit card type.

A plain-ol ATM card takes money AWAY from a designated account at your bank. An ATM/credit card can be a debit card AND can be used as a CC with some associated CC company--Visa, MasterCard, AE. We only carry the DEBIT version--no CC association with it--when abroad.

Our version is actually pretty darn hard to get from your bank anymore. We were persistent. We won.

Please check with your bank for specifics.