Which way should I go? Any advice on fees, exchange rates, accessability or other factors influencing this decision?

<BR>In both London and Paris I had trouble using my bank ATM card. The problem forced me to use a cash advance on my credit card. I returned to very high transaction fees and upfront interest charges. A working bank ATM card woud have been a cheaper route, but I'd have given my kingdom (whatever is left) for a few travelers checks. It may be a good idea to take about half your cash in travelers checks.

I just returned from Russia, and while I had heard horror stories about using my ATM card there, it was a complete breeze. Actually I was irritated I had so many TCs, though it is a good idea to have some for an emergency. My credit union doesn't charge fees for overseas transactions, so I saved a bit versus cash and checks. I would suggest making sure you have a common card type such as Cirrus or Plus, then you should have no trouble. I ran into no problems using mine in London either, it was really nice to not mess around with changing money, and machines are everywhere! Call your bank and see what if any fees they charge for overseas use. Good Luck! <BR>

Justin, <BR>Get a nominal sum in travelers' checks, then plan to use your ATM card (its PIN must be numeric and four digits in length). Contact the bank that issued your card and advise it of your travel plans so the bank will recognize that the card has not been stolen. Use your American Express card rather than Visa or MasterCharge (though the latter are more popular in Europe). With American Express, you'll incur no interest on your expenditures if paid upon receipt of your statement. Expect two to three months for all charges to hit your credit card statement. Certain AMEX cards also offer insurance in the event purchased goods are damaged or lost. Exchange rates can be captured by checking the website: www.oanda.com where you can also print out "cheat sheets" converting dollars to foreign currency and vice versa.

Check out the Visa Travel Money card. <BR> <BR>It's similar to a Visa card except that it gives you direct access to your money (money that you have deposited with Visa)and can be only used at an ATM for a withdrawal of cash. It has a PIN security, and if lost it becomes a small piece of worthless plastic. Replacement cards are readily available. Of course there are some charges, but unlike travellers cheques, they are a set fee per withdrawal. <BR> <BR>Check it out at www.visa.com

<BR>Dear Justin, <BR> <BR>I prefer charging everything to my Charles Schwab debit card if possible (I always ask the establishment of course if the have extra charge for using a card). <BR> <BR>What I found many times already (in Canada, Great Britain, Philippines, Japan, Korea) that the "official exchange rate" plus the fee charged through my debit card is more favorable for me than using a travellers check or exchanges in other countries. During my last trip to London (and other cities in UK), for example, I found the exchange rate so varied in UK, depending on the bank or the exchange bureau. <BR> <BR>Of course, I used my debit card only in reputable establishments (to avoid fraud) -- I had that happen to me in New Orleans a long time ago. I was suspicious when the waiter took my card twice -- claiming the first past he did not go through. True enough, when I came back, I had two charges for one meal. Except for that incident, I never had any other bad experience. <BR> <BR>If I need cash, I prefer to go to the bank (only the famous ones) than using an ATM (the lines are never long). In London, they do not charge extra while everytime you use an ATM, there is an extra charge -- $1.50-3.00. <BR> <BR>CGC.

Justin--I had no problem using my ATM card in London and Paris this summer, but it is compatible with Cirrus and Plus. Had no problems with American Express. Some smaller establishments in London weren't equipped to handle a U.S. issued Mastercard--the ones who had to make an actual phone call for approval were problematic, those connected by computer were not a problem.

Do you really need to notify the bank that issues your card that you will be going overseas?

Pam: I was checking with our bank on the Visa to ensure that they did not hike any fees on to the exchange rate when they brought up notification. It seems that on occasion if they notice batches of unusal foreign charges they may be concerned about theft and try to contact you. Obviously, you will not be home if you are traveling but they can put a freeze on to force a call. If you have it flagged in advance, they expect the charges and avoid any potential hassels.

On my trip to Europe, I took both. Travelers Cheques as a backup and two ATM cards. Everything worked quite well. footloosetravel.com has a nice article on this topic.

<BR> ATMs are better-you get a better rate. I just got back from Italy and a bank charged me close to $40.00 to cash only $200.00 in travellers cheques. I would bring some ONLY as a back-up. And, If you cash them in make sure you go to a popular commercial bank, not a private one. The private banks usually charge more commission per cheque cashed-

Assume you are going to Italy since your message was under that topic. Have been the last two years and used ATMs for cash, and Visa card to charge things. Never had a problem. Took small amount of traveller's checks first year but never used them. Didn't take any the second year. I would just check with your bank to make sure your ATM card can be used in Italy. Most of them can. Good luck and enjoy! <BR>

In Italy ATMs ( or Bancomats as they are called here ) are everywhere. Plus and Interac systems handle get me money from my Canadian Royal Bank Card without a glitch - some banks up to 500,000 lire at a time.

A few years ago, I used the American Express travel offices, and I don't think I was charged for converting traveler's checks into francs. Do they still have the same policy? How does their exchange rate compare?

On the credit card notification thing - if you purchased your airline tickets and booked your hotel with the same credit card you're traveling with, wouldn't they be able to figure out you went on a trip once you started charging over there?

Pc- I wouldn't count on the credit card companies being able to figure anything out. I was living in Germany bought a ticket to go to Greece, arrived in Greece and started charging on my credit card. Two days into the trip they let someone charge a Deutsche-Bahn ticket from Munich to Berlin on the same card. Had to explain that one! I vote credit card over travler cheques!

Just wanted to relate my "unusual charge" experience. Had no trouble with using credit card for 3 weeks in Europe, posting thousands of dollars to it. Not so much as a phone call from credit card company. But, a few months later, received monthly phone calls to verify the "unusual activity" of buying $15 worth of gas and $5 at Wendy's in my hometown. I would love to know what triggers these phone calls...

Ha Ha Kim, the bank employee couldn't believe that a regular European traveller would go to a Wendys.