Ok this is going to be a long question...I am going to London in April and I am wondering 1. Should I take travelers checks? 2. I keep hearing use the ATM's to exchange currency are these like american ATM's? 3. Will my debit check card work over there if so is that not the easiest way? Any info is appreciated. Thanks.

Traveler's checks are a dinosaur. You'll spend a bunch of vacation time figuring out where and how to cash them and paying a hefty commission when you do.
ATM machines are the same the world over. Yes, they have them ALL over London, and you get the best exchange rate that way. Yes, your debit card will work "over there." Yes, it's the easiest way.
That wasn't a long question.

If you're "a UK panda" how come you don't know about London ATMs?

It was the best thing I could come up with at the time, it is a running joke with my friends so I figured when I am there I will be a uk panda...its cheesy I know. Thanks for the help on hte ATM's that is what I was hoping so I can just take my card and not worry. :0)

This topic has been covered ad nauseum on this forum.
Yes, London has joined the rest of the civilized world and has installed ATMs. Shocking. And they even have running water in most places!
You really should do a search for some old posts on this subject.
The only problem could be with the number of digits in your PIN. And keep in mind that you may only be able to access your chequing account, not your savings.

I have two ATM debit check cards. One's a VISA with a 4-digit pin, and the other a Mastercard with a 6-digit pin (Fleet/Bank of America). I left the 6-digit pin card at home. I can't remember anybody on this board validating the 6-digit pin would work. Some say it won't work. I personally haven't tried it.

I agree, traveler's checks are a dinosaur. The only reason I would take them would be in case of emergency.

I did attempt to do a forum search but was unable to pull anything that helped me. I am thinking though that it is user error (ha ha). I know that London is civilized but was unsure how it works overseas since I assumed (my bad) that they would be a bit different. So all in all good new can take debit card no worries about money, that's always good.

In a steamer trunk.
Kruggerands, boullion, whatever.

I think the real answer is you leave your money at home in bank. Then, use an aTM when you need paper money to spend.

London has quite a few of them. My first use of an ATM this summer was at Gatwick Airport near a manned exchange booth. I took one look at the posted rates and just about lost a tooth filling. The loss would have been close to 10% had a I forked over greenbacks or a traveler's check.

I use my credit card as much as possible to reduce the need of carrying currency.

To show you how useful traveler;s checks are, I have some still that have crossed the Atlantic with me 4 times. I wish they got frequent flier miles, too.

In 7 trips to Europe, I have used two checks. Once in the Zürich when the ATM machine was not working but the bank window had a person on duty, and once when I was in a little Swiss town and the only bank handy was a Cirrus only establishment, and my ATM was Plus.

I have not run into that difficulty since that one instance. That same bank now takes both Plus and Cirrus based cards.

The only other times I have used my checks involved not cashing them.
Once, in Paris the waiter at a little restaurant came back waving my credit card and swinging his arms wildly saying something about "No card." When my wife rose from the table to go to an ATM on the corner, he sounded like a tea kettle about to whistle.

I showed him some of my traveler's checks and his blood pressure went down about 50 points. (TCs are not usually known for their intrinsic therapeutic value, but they provided some relief this time.)

The other time was on 9/12, the day after 9/11!! Who knew when we could get home? Or whether or not the banks would function? The feeling of those checks in my passport case at least provided psychological warmth. But that was all they were called upon to do! I never needed to use one of them!!!

Thank you bob, tht was very helpful and entertaining all at the same time. Question though since my card is out of a credit union should I move the money to my wellsfargo card just to be safe since that is a bigger back than the local credit union?

BANK ment bank not back...sorry

Has anyone ever had a problem with ATM's . I am always too insecure to leave all my cash at home and just depend on atm's. What happens if they won't take your card? I usually take a debit card, credit card, and some a good bit of cash. I guess I am just paranoid.

panda: Your Credit Union card is just fine -- as long as it is a CHECKING account. Most ATMs in Europe will not let you withdraw funds from a savings account. The size of the institution really makes no difference - it is the networks it belongs to (star, cirrus, plus, etc) tha matters.

In fact your credit union is probably better -- my CU has lower atm fees than Wells Fargo.

summersquash: Sure, there can be problems w/ ATM machines just like back home. but that isn't a big problem -- especially if you have a credit card for backup. I never take large amounts of cash - and sometimes leave the States with no cash at all (when I didn't have time to go to the bank or some such). If you want to, you can take $100 or $200 in US currency or US$ travelers checks just for a tiny bit of insurance -- but you would never need more than that.

If you ever read the musings of the Flyertalk.com crowd, you will see that many travel internationally on a weekly basis and they carry very little cash, if any. What they do carry is plastic, and backup plastic (ie 2 check cards and 2 or more credit cards of the Visa/MC/AE variety). Using these cards is safer, more convenient, and less expensive and time-consuming than exchanging cash and checks.
There are many people arriving in London with as little as $20, and they head straight for the airport ATM/cashpoint.
I'm personally not that brave and would rather have about $100 on arrival in the event of ATM issues.

Hi Panda,

My personal opinions:

Do not use our ATM card as if it were a credit card. Thieves can wipe out our bank account in seconds.

You will get the money back, but it is much more trouble than if they still your credit card number.

Bring 2 ATM cards and 2 credit cards. Sometimes a card won't work in a particular machine.

Charge everything chargeable, and get cash from ATMs when needed.

Find out from your bank how much they charge for "out of network" transacations.

Likewise, for how much they add to the 1% that VISA and MC charge for international CC transactions.

I usually bring about $100 worth of Euro with me. You can get the money at your departure airport for a few dollars more than doing it in Europe, but you will not be jetlagged and disoriented at the time.

Enjoy your trip.

Here's my methods:
1) ATM card with a 4 digit numberical (not letters) pin, has a Cirrus or Visa logo on the back, and the money is in your checking account (not savings). ATM machines are basically the same the world over. If the ATM is the only method you are using to obtain cash while traveling, you might also want to carry a spare card.

2) I also take some U.S. cash that I could exchange.

3) I take a credit card but only use it for large expenses like a hotel bill.

4) Travelers checks only on extended trips or for an emergency, and plan to go to a bank to cash them, not spend them directly in a shop or restaurant.

Hope that helps!

To sum up what others have said: Use a credit card for major purchases and get cash from ATMs for everything else. Be sure your ATM card has a 4-digit PIN. Check with your bank or credit union to verify that your card will work in Europe and notify them when you'll be out of the country so that some computer doesn't "freeze" your card for what it thinks is unauthorized use. You may wish to increase your daily withdrawal limit before you go. Here's the URL for a very helpful article: www.ricksteves.com/plan/tips/moneytip.htm.

Just for the hell of it, I thought I'd add that not only has London 'joined the civilised world' by installing ATMs, but we had the world's first, opened by Barclays Bank in 1967. So there.

For me, the bottom line is never to put all the eggs in a single basket...

I take about $100-200 in cash.

I take some trav. checks for emergency use. And yes, I agree with the poster that the way to use them is to cash at a bank or AMEX office to convert to cash. Never use them piecemeal to try to pay for meals or "stuff."

I also take an AMEX card and either a Visa or MC with 4-digit pin.

Haven't yet tried travelling with a debit card, but if I did, I would limit the amount in the account it accessed so a thief's damage would be relatively limited.

Theft or downright loss can occur while you travel. ATM machines can malfunction or you could reach your limit on a given day. A credit card may not work or be accepted in a particular place. S**t happens. Never rely on only one method when a lot is at stake.

Don't forget to notify your credit card people of your travel dates & the country you'll be in....no fun to have a hold put on your account because they spot an "unusual" activity on your card. You can't easily fix this till you get home.

Kate -
Now if you could just arrange for electricity and indoor plumbing
then you'll be all set.