Travellers Cheques or Card?

rossyl · 16 Feb 2006 at 18:29

Hi,

I'll be off travelling soon.

I've opened a nationwide account, so i get free withdrawls abroad. However, I was wondering about travellers cheques as well.

Apparently American Express do a travellers cheques card, that is meant to be less hassle and easier and more safe?

Anyone enlighten me, as to the advantages and disadvantages of both?

Thanks

Ross

shimy182 · 16 Feb 2006 at 19:33

i personally say a bit of boths...
travellers check will be wise but a lot to do ( signing it) and even if you loose it its insured so im sure you can claim them back from banks.. i may be wrong

Loki · 16 Feb 2006 at 19:36

I used the American Express travellers cheque card in America last year. Pretty good actually and you can link a debit card to it so if you run out you can ring em up and they will top your card up. I think there is a set up free of £5.00 though

whitecrook · 16 Feb 2006 at 19:41

Yes I would take some traveller cheques and your card. (what's a traveller cheque card?)

Check where you are going that there is an Am.Express Bureau otherwise you may be charged to change your checque into money. (i think it varies around 5%)

If there is a risk that where you are travelling you may be robbed traveller cheques can be very handy.

Traveller cheques have many advantages over other kinds of currency, but they can be inconvenient.

The_blue · 16 Feb 2006 at 19:58

even 3rd world have card now

never take TC's

50/50 · 16 Feb 2006 at 20:03

Travellers cheques are pointless nowdays. Just stick with the nationwide account and make all your purchases on that. The Amex TC card may sound like a good idea, but nationwides VISA debit is much better as more places around the world accept it.

TBH,

Burbleflop · 16 Feb 2006 at 20:04

I never both with travellers cheques, it's too much faffing about when you want to change them into cash. Cards are much easier and no need to carry your passport around all the time when you want to use them.

The thing I don't like about travellers cheques is that say you buy $1000 of them for £600 (for example) and the exchange rate drops. If you try to change your $1000 worth of travellers cheques back into £s then you'll lose money if the exchange rate has gone down. Conversely you may get more of course.

I've only bothered once with travellers cheques once (in South Africa) and it was too damned inconvenient to get them changed into Rand. There is the thing that travellers cheques can be replaced within 24 hours if they get lost or stolen but meh, that doesn't bother me. I always have more than 1 credit card with me and at least 1 lives with my passport.