After seeing a post about travelers checks, I wondered: Why does anyone bother with them? With the availability of credit cards, bank cards, ATMs, etc., what purpose do TCs serve? I've traveled to a dozen countries in the last 20 years and always brought about $100 worth of local currency and my cards, and I've never had a problem. So, am I missing something about the need for TCs?

I'm with you Jim, but I think some old habits die hard. And I can see how those Amex adds with the woman pleading into a phone that she just lost her purse with $1,000 cash in it may scare some people. What kind of dummy carries around $1,000 cash? Drug dealers and pimps I guess. <BR> <BR>Joking aside, if it gives some people peace of mind, then it's probably worth the hassle to them.

I haven't bothered with travellers cheques for a few years now, but we did run into some problems on the Mediterranean coast of Turkey last September. Our ATM card is on the Plus system and in 2 towns, we couldn't get any cash from the machines because the banks weren't on that system. In the third town, we went to several different banks before we found one that would give us cash. I did have some American $ with me and was able to exchange them. It wouldn't have been a problem if Visa was accepted everywhere, but we were staying in a pension which was cash only. We plan to go back to Turkey next year and I'm not sure what I'll do. Travellers cheques are inconvenient, but it's more inconvenient if you have no cash on you!

Jim, <BR>My husband takes some TCs to avoid what <BR>happened to Susan. <BR> <BR>Michele

I'm with Susan - I bought a minimal amount (free from AAA) a couple of years ago and just take them with me for the "just in case" aspect of it. There are some places that will only deal with cash - this just makes things easier all the way around. I do agree though - with ATMs there really isn't a huge incentive here.

I've seen advice in this forum that if you take traveler's checks, buy them in U.S. $$ and exchange for that country's currency at your destination. My question (since I'll be going to Italy in 2 months): if I do buy traveler's checks, wouldn't it be best to get them in Italian Lira to take with me -- instead of buying them in U.S. $$ and having to exchange in Italy??

No. You will receive a poor exchange rate when you buy them in Lira (if you can even buy Lira TCs) and then if you have to convert them back (any unused TCs), you'll receive a poor rate again. When I say "poor", I mean relative to ATM or CC exchange rates. <BR> <BR>If you're using them as a fallback, definitely get them in US dollars.

Whatever you do, don't get travelers' check from Thomas Cook. A friend made that mistake. When he and his wife were traveling, their travelers' checks were stolen. Thomas Cook refused to issue them new checks, saying that they "didn't take the proper precautions to protect the checks". I thought that was the whole point of travelers checks.

I was of the mind that travelers checks were becoming obsolete for me. Over the years I've found myself bringing smaller and smaller dollar amounts in TC and mainly using my ATM card for cash (which I agree is SOOOOO much easier). But, then I went to Spain. While ATMs were plentiful finding one that my ATM card, or my husband's or my friend who we traveled with would work on was a different story altogether. It wasn't a question of the cards not working because of the wrong system or us not having a four-digit PIN (we all did). It was simply much more random than that -- our cards just didn't seem to work in about half the ATMs we encountered. In small towns that only had a few ATMs we often couldn't find one that our cards would work in at all. So, having a few hundred dollars in travelers checks was definitely necessary. After that trip I promised myself I'd still mainly rely ATMs, but bring some TC for emergencies.

I can think of at least 3 reasons to get traveler's checks. 1st, concern that ATM won't take card. 2nd, according to the news reports I have heard, ATM fees supposedly keep going up, making them less cost effective. Trav checks can be had for free for some of us. 3rd, using ATM can screw up your bank balance until the charges (conversion amounts and fees) pass through on your account statement. A bonus point/Question: Can you get an ATM card replaced while in Europe.

10 Misconceptions: <BR> <BR>1) ATMs never break. <BR>2) ATMs never swallow cards. <BR>3) ATMs never run out of cash. <BR>4) The bank never screws up your computerized line of credit. <BR>5) Every shop, hotel and restaurant and in Europe (the world) takes credit cards (especially the ones you carry). <BR>6) The phone circuits used by ATMs never go bad. <BR>7) ATM central computer systems never fail. <BR>8) When any of these impossible events happens it only occurs during banking hours in a city with plenty of other banks and ATMS that are working perfectly. <BR>9) When number 8 fails there's always someone on duty, on the spot, 7X24 to fix the problem. <BR>10) Cash card and credit card usage ALWAYS incur lower exchange charges than cash or travelers' checks. (Ah for the good old days!) <BR> <BR>In truth, none of the above happens very often, including number 10 which is rapidly disappearing due to bank greed. <BR> <BR>But what happens to your vacation when one of the first nine does happen? How much cash will you have on hand? Can you afford to lose that amount of cash? <BR> <BR>Why bother? <BR>

A suggestion for ATM users.We requested from our Credit Union a couple of additional ATM cards to take with us on vacation.We store them seperately from other cards,cash,etc.in the event of loss or theft.

A question: When using an ATM overseas, does the machine recognize that your card will be drawing on a non-domestic account, and proceed to display the exact exchange rate, and fee, that will be applied to your transaction? Does it do this BEFORE you finalize the transaction? Or must you wait until you get home to find out exactly how much that 50 pound (franc, whatever) withdrawal cost you in your home currency? <BR> <BR>I know that with TC, one can establish the terms of the transaction with the bank teller before cashing the cheque...or not, if one doesn't like the terms....

Budget, no, no and yes.

Ed covered most of the bases. What if your ATM card is misplaced or stolen? I'm one who always takes travelers checks because I like to be prepared for all contingencies. If I have them in the foreign denomination, I use them toward the hotel bill if I don't need them. Otherwise, I just deposit them in my account when I get home. Just because you haven't had a problem so far doesn't mean you never will.

In my hotel in Italy a fellow American had American Express Travelers checks and an American Express Card, both of which no one in two town would cash for some reason. She had to travel to another bank in Milan to cash what travelers check that she had. It definitely isn't a mistake to take a few but don't I wouldn't depend on them completely. Everywhere we went this last vacation the ATM's were accurate, fastest, best exchange and I didn't have any mistakes or eaten cards.

Take enough in T's cheques to buy a ticket home and stash them someplace really secure. Use the ATM machines but be aware that a)if one grabs your card for some reason, you may never see it again -- negotiations to reclaim it are almost hopeless in some foreign banks and b)some banks (happened to me in Spain) may not be well synchronized with your US account, and if you are really unlucky will try to extract funds from accounts other than your main checking account. You may not find this out 'til the transaction shows up, and again you might find out because it would go to an account without enough funds and swallow your card. <BR> <BR>Because you'll need a passport to cash the T's cheque in some cases, it can get cumbersome, but I'd never leave home without enough to bail me out of an emergency.

Hello all, I was thinking of getting t.c. in British pounds, is that feasible? The idea of extra ATM cards is super. Our card is also a visa. We will also get some currrency. J

I would like to correct Ed on one of his Misconceptions....ATMs can swallow cards...it happened to a friend of mine in Spain...FYI

And it happened after banking hours, I might add...luckily, it was within her last week and she had Traveler's Checks as a back up... <BR> <BR>One more reason why they aren't obsolete yet...