Traveler's Checks vs. Cash
Jul 12th, 2004, 05:32 AM
#3
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Hi vk,
ATM machines are better.
TC's aren't always accepted, and there is often a charge for cashing them.
Also, you get a poorer exchange rate when you purchase them.
You will usually be charged a fee to buy them.
ATM machines are better.
TC's aren't always accepted, and there is often a charge for cashing them.
Also, you get a poorer exchange rate when you purchase them.
You will usually be charged a fee to buy them.
Jul 12th, 2004, 05:36 AM
#4
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Hi
Most people (not all) pay a fee to purchase the TCs, and most will pay a fee to cash them, in whatever currency they are in. Some of us travel with a few TCs (for Americans, perhaps $200 worth) just in case of emergency (one's debit or credit cards are stolen or lost). You can always deposit them back into your account at home if you don't use them.
You will find ATMs all over Italy. Your bank at home may charge you an overseas transaction fee each time, so you might want to inquire if that is a concern.
Most people (not all) pay a fee to purchase the TCs, and most will pay a fee to cash them, in whatever currency they are in. Some of us travel with a few TCs (for Americans, perhaps $200 worth) just in case of emergency (one's debit or credit cards are stolen or lost). You can always deposit them back into your account at home if you don't use them.
You will find ATMs all over Italy. Your bank at home may charge you an overseas transaction fee each time, so you might want to inquire if that is a concern.
Jul 12th, 2004, 05:43 AM
#5
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Do NOT take travelers checks. We just returned from 12 days in Europe and no one would take them. Even the American Express office charged to cash them if the currencies were different. We felt we paid charges on both ends, the ATM charges cannot be worse than that.
Jul 12th, 2004, 06:46 AM
#6
Travelers checks are fine for emergencies - just realize you should go to a bank to cash them... don't expect shops and restaurants to take them from you directly. Depends where you purchase them if there's a fee or not.
Jul 12th, 2004, 06:54 AM
#7
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We just returned from 2 weeks in Italy and relied on our ATM card for cash and used our credit card for meals and large purchases. We had no problems with the ATM. We did take a Visa moneycard (preloaded)in case we had problems with our ATM card instead of Travelers Checks. Never needed to use it though.
Jul 12th, 2004, 07:18 AM
#9
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Most times you will pay at least twice to use Travelers checks - first a fee when you buy them - and second a fee (hidden in a bad exchange rate) when you cash them in at a bank.
They are also much less convenient - very few places are willng to change them vs the number of places with ATMs - from which you can pull cash as the interbank (best) excahnage rate - with minimal or no fee.
They are also much less convenient - very few places are willng to change them vs the number of places with ATMs - from which you can pull cash as the interbank (best) excahnage rate - with minimal or no fee.
