Travelers Checks
 

I am going to London and Paris next week. Although I plan to charge as much as posible to my credit cards and make use of my ATM card I am thinking of bringing some travelers checks as a safety net in case my ATM card gets ruined.

What are the best trvelers checks to get the Visa or American express? any comments?

Thank you

Luis

Get TCs in dollars, especially since you can get them free from AAA. THen, sine you probably won't need to use them, you can just re-deposit them when you get home and you won't have paid any conversion fees. Yes, I know that AAA doesn't officially charge fees for their foreign-currency TCs, but you do lose in the exchange rate.

I'd say Amex, because you can cash them fee-free at Amex offices, which are easy to find in both London and Paris.

If they are a "safety net" then you should keep them in the safe in the room or at the front desk or in your moneybelt...if you do all that, why not bring cash..UNLESS you are planning to get your TCs IN EUROs..otherwise when you convert you'll still be subject to a poor exchange rate...in any event I wouldn't pay for any vs. taking some cash along.

Just remember two points: practically no-one, apart from banks, accepts travellers' cheques in Europe. A spare credit or debit card, or cash, is an infinitely more useful safety net.
Second, Euros in any form are foreign money in London. Try using them and you'll pay for another exchange transaction, even if that cost is cunningly hidden

Luis, I'd just get whichever ones you can get for free from your bank or credit union.

Hi Luis,

Iagree with Sue. You only want them for emergencies, and will probably bring them back.

Brussels, Belgium.....6 months ago. Went with American Express from AAA travelers checks, hotel wouldn't cash them, 2 banks in Brussels told me they deal with Thomas Cook only, information office in Grand Place told me there was no American Express office in Brussels, and telephone directory bore that out.

Last time I travel with travelers checks.

Hi Luis:

Don't forget, you pay in advance for travelers cheques, so an 'expensive' safty net considering they are not generally used any more with the ABMs & credit cards so widely accepted.

I stopped taking travelers cheques a few years ago and what I started doing is taking the money I would have bought travelers sceques with to 'prepay' the credit card I'm going to use, with the credit card enabled to use ABMs but 'not' linked to my bank accounts.

That way I have my ABM & credit cards cards for their intended use, have the 'prepayed' money on my credit card as a backup to my ABM card - if I do need it then I don't pay the outragous 'cash advance' rate from the credit card, if I don't need it then when I get the credit card bill the next month some of it is already paid off ... and my bank indicated that the credit card shouldn't be linked to my accounts since if something went wrong with my ABM card (lost/stolen) then my credit card would unlikely/not be able to access the accounts either (for security not a technical issue). I also keep a 2nd credit card for backup to the others.

FYI - and the credit card I use for this is a 'classic' (re: free) card from my bank that I only use for international travel. It has a much lower credit limit than my 'home use' cards. That way if something goes wrong with the credit card (a scam where the # is 'stolen') my credit exposure is much less (and my 'home use' cards are the backup).

Just my opinion though.

Z

For an emergency take dollars and keep them in a moneybelt. They can be converted to local currency at any moneychange booth or bank instead of searching for an AMEX, Cook, etc. office.

For those who are concerned about excessive charges from fraudulent use of credit cards, your liability is limited to $50 and not even that if you report the loss immediately.

I agree, trav. checks are a waste of time. Yhe last time I brought them I could not even use them. Bring 4 or 5 crisp $100 bills and stick them in a money belt and only use them in an emergency.

Thank you all very much for your information.

Luis

I agree--have not used TC on my last 5 trips, but I do take $200 cash.