traveler's cheque question.

[rchua]

ok my friend and i have resorted to using traveler's cheque to pay for our hostels. now our questions are is it ok if our traveler's cheque is in US$ or does it have to be in euros? also, if it is in US$ can i cash and convert them at a local bank? this might sound stupid but i'm becoming paranoid since the trip is almost upon us. this always happens to me when i have something inportant to do or happens. thanks guys!!

[Eagle]

rchua, I haven't used Traveller's Cheques in a long time, but I suspect it would be better to use Euro T.C. for use in Euro countries. While US$ will no doubt be accepted, you might pay a hefty conversion fee? From what I've heard, it's getting more difficult to cash T.C.'s these days, so this is not a method I would be using.

I assume you'll also be taking one or more ATM / Debit Cards? Credit Cards are also a good idea, to cover "emergencies" or unexpected expenses.

Good luck and happy travels!!!

[Jules80]

my understanding is also that you'll have a difficult time cashing them in most places as they are pretty much becoming obsolete.

Jules

[euroman2006]

I used them on my trip 2 summers ago. But I'm definatelly not taking many this time (only emergency). At that time, you could exchange them at a bank depot or somesuch and also at a store if you buy something. However, you will get different exchange rates. Alot of times these exchange rates are definatelly not favorable, but at the banks they have them listed outside alot of time IIRC.

Another thing is that it is extremely inconvienent to use TC. First, you have to either go to a store (as I said) or wait in line at a bank or exchange depot. Also you need to make sure (or try to make sure) that the places you go to aren't going to short change you and give you horrible rates. Of course last time I went, we had a guide to tell us where were good places to go and where not to go. Generally we got cheaper rates here than the people who didn't listen and went to any old 'exchange' hole-in-the-wall.

[dougj]

get them in euros. you'll still have to find somewhere to cash them (not hard, there are money exchanges all over.). whatever you do, when cashing them look for the lowest rate, which you will not get at the train station.

I'd generally use atms and have 1 or 2 cheques tucked away just in case.

[rchua]

hey guys! thanks for your advice. well my friend did go to the bank and got traveler's cheque. but they're in US$. can't do much now. i just hope that we won't have difficulty cahing them out. wish us luck!!

[WillTravel]

You don't have to use the travelers cheques. When you return home, just cash them back to USD. That way you won't lose on the exchange and commission rates, and they'll be available in an emergency while you are traveling.