Going to the bank or AAA to pick up traveler’s checks, for me, is a lost pleasure. I loved announcing “I’m going on vacation” to perfect strangers without actually saying anything! The purchase said it all. Plus it was always a conversation starter – When/where are you going? Who are you going with? How long?
OK – I know what you’re thinking: Do traveler’s checks even exist anymore? Well, actually yes they do. But, we now have much more convenient ways to get cash and make purchases on the road.
Debit cards are an excellent way to get cash. ATM machines are open 24/7, they issue money in local currency, and the exchange rates are close to wholesale, much better than hotel, airport, and even local bank rates. Call your bank before you leave to notify them of your travels and ensure your PIN number will work outside the country. Also, get the phone number to call from outside the US if your card is lost or stolen. Find out your daily limits and don’t wait until you are out of cash to go to an ATM. They run out of money and break down in other countries, also!
For larger purchases, hotel charges, etc. consider a credit card. This cuts down on the amount of cash you’ll need and there are some purchase protections offered with some cards. If you plan to use a credit card, notify the card issuer before you travel so they will be aware that you will be making charges from another country. You can also use a credit card to get cash, but beware of surcharges. I suggest VISA or MasterCard, as they are the most accepted. AMEX sometimes has challenges – especially with small local merchants. And Discover is not internationally accepted.
My personal MO is to take a debit card for cash and a major credit card for everything else. I hit an ATM at the airport upon arrival to for local currency. If there isn’t an ATM at the airport, I buy a minimal amount of currency at the exchange booth and find an ATM or bank later to supplement, as needed.
What’s in YOUR wallet when you travel?