Traveller checks in Euro? Worth getting or will it be a hassle to cash them?
 

I know from experience years ago that it was difficult to cash American express traveller checks in Francs in France. I am wondering that may if the dollar weakens further, it might be a good idea to buy checks in euro. Maybe more people would have them so it might be easier to cash or pay for hotels.<BR>I have noticed that people are so critical of others who complain about the weakening dollar. Is everyone a multi-millionaire on this board and a pathetic dollar makes no difference to them? Its very discouraging when each day you see your money devaluate futher and further. I am sorry but when a trip cost 10-15% more than you expect you can expect people to jump for joy!!

Sorry, I meant to say you CANT expect people to jump for joy!

What is the point with traveller´s checks? ATM is better these days, or?

Atm amy be better BBUT not if the dolar continues due drop as it has!

I am sorry for these mistakes that I have been making. I live and work here in the USA but English is not my mother tongue.

I'm not a professional economist, but it seems to me that the ATM route is still far superior!

You will pay to convert dollar to the euro when you buy and then pay again to convert the unused checks back to dollars. Take some traveller checks in dollars as a backup. Take some euros wtih you so you don't have to find an ATM as soon as you get there. Then use your ATM card to get cash there after.

Just returned from Italy. We took Traveller's checks in Euros as a back up along with cash and our ATM card. When we tried to use them we were charged a fee - making our good exchange not so good! Only once did we convert a small amount of USD - rates not great. Use your ATM card and credit cards. Not much you can do but enjoy your trip.

My credit card co., Citibank Visa charges a 2% exchange rate. On top of this, for ATM, there is a % charge.<BR>Is this rather high?

David, if your bank charges a % on ATM withdrawals, I'd recommend changing banks!

My husband and I are leaving this week for Italy. Before going we wanted to make sure we do the right thing regarding ATM's, cash, or possibly travellers cheques. We were just told that the ATM's in Italy are charging $5.00 per transaction. It is not our banks here (Canada) but rather the italian banks are adding the charge. Two years ago we used only ATM's it was wonderful and convenient. Can anyone out there shed some light on the matter.<BR>Judy

We had 5 weeks in Italy this year and took some travellers cheques in Euros, mainly as a back-up. We had trouble exchanging them in shops and restaurants, in the end we had to exchange them in banks which was a pain in the neck (the Italian banks do not exactly work at a fast pace and sometimes they would only exchange 2 cheques at a time). We decided we would not take travellers cheques again to Europe.<BR>We used our Visa credit card for purchases and our bank (Australian) charged for every transaction to convert the foreign exchange - anything from 2 to 11 dollars depending on the amount of the transaction. It's disgraceful but that's banks for you.<BR>We also withdrew cash from ATMs using a debit card and that worked well.<BR>Kay

Just returned from 4 weeks in Europe and I took a combination of ATM cards, travellers cheques in Euros & small amount of cash. I had no trouble cashing my Thomas Cook travellers cheques. There was no commission if exchanged at a Thomas Cook office which are not hard to find in major cities. However, I did get hit with a fee once when using another exchange company. An advantage of taking travellers cheques in Euros is you know what exchange rate you're getting at the outset. I also found I could use the travellers cheques to pay for inter-city train tickets and for some accommodation.

Janine, that has been very exceptional. Usually only banks exchange traveller checks.

Judy, unless things in Italy have changed dramatically in the past year, what you heard about the $5 bank charge is untrue.

Do a search for my post called "A real ATM Story." I just returned from two weeks and Italy and imagine my surprise when I tried to use my VISA ATM card and it never would work anyplace in Italy. This despite many advance phone calls to both VISA and my bank making sure it would work before I left, discussion of 4 digit PINS, etc. I am glad I had a reserve of TC's plus 500 EURO purchased before I left. I will repeat what I have said in the past, don't go so far away counting on just one method of obtaining cash. I fianlly hd to resort to using my credit cards to get cash advances from cambios.

Jim,<BR><BR>I too had the same problem with my ATM card in both Greece and Italy, despite my bank's assurances...blah, blah, blah. I wasn't too happy when I got back and they suggested I up the daily limit. LO and behold, it worked on the last trip...<BR><BR>BTW The Cr&eacute;dit Lyonnais Bank in Cannes cashed our AMEX trav cheques without a fee while the Banque nationale de Pris in Monaco did...so go figure...Next trip, I'm taking a list of the local AMEX ofices with me....LOL...

Yes, it will be a hassle. We made this mistake the first time we went to France. Now, we only use ATM and arrive with about $100 euros just to get us started. We charge our major expenses whenever possible on our American Express but use ATMs for our cash. Don't bring Traveller's checks they're a waste and difficult to cash. Nancy

We just got back and took travelers checks to pay hotels. Many offered a cash discount. We only had 1 hotel that wanted to charge 2% for the travelers checks, but then when we said we would charge instead and they would have to pay more than that, they did what all of the other hotels did and that was take the travelers checks. For spending money we used the ATMall over Italy. I had a charge of $1.50 from the banks there, but nonoe from my own bank. Take enough that makes the charge OK. When we got there and rented the car and took off, we were very glad the toll boths take credit cards because we forgot to have any euros in our pocket.<BR><BR>Debby

In addition to the fees/commissions sometimes charged just to cash a traveler's check, you also generally get a a really terrible exchange rate, especially at hotels, stores, etc. Credit cards and ATMs make the most sense.