Cash ? Travellers checks? Credit cards?

[hihilo]

I am re-thinking the issues of taking cash ( US dollars ) vs. travellers checks, vs. the new credit card(s) with the embedded chips.

On recent cruises, I/we mostly took cash, and had no problems.

Does anyone even use travellers checks anymore? Or is this a 1980's concept.?? :-)

Next 2 cruises are northern Europe, The Med. and Turkey.

Thanks in advance for the good suggestions that I know will be offered

on this forum.

[CHEZMARYLOU]

We still have travelers checks from several cruises ago. We've never had a problem cashing them on the ship. The checks are US$ and we received US$. I don't know how it would work with Euros or other foreign currency.

 

Mary Lou

[Sloop-JohnB]

Plastic has come a long way in the last 10 years when it comes to International travel / banking. It is now our first choice.

 

The convenience of ATMs, chip protection, low currency purchase fees (on top of exchange) etc

 

And we always carry 2 cards... I case one goes haywire or becomes compromised some how... Cause the last thing you want on vacation is to be cashless

 

That said, Travellers Cheques although harder to find & use (lots of people today under 30 haven't even heard of them let alone seen one) do I believe have their place for the well seasoned traveller.

 

For they remain the only form of REFUNDABLE currency if lost or stolen (keep your registered numbers separate... And a copy left with some one back home you can reach 24/7 even by collect call if necessary)

 

Plastic takes time to replace if lost or stolen (days typically)... Whereas Travellers Cheques can be got in 24 hours or less

 

If you lose it all in some unfortunate circumstance... That time difference can make or break a holiday...

 

We tend to carry enough to keep us afloat therefore for about 1 to 2 day's expenses.

 

Hope this helps,

 

Cheers!

Edited August 6, 2014 by Sloop-JohnB

[Fouremco]

I gave up on travellers' cheques years ago as fewer and fewer commercial establishments accepted them. The advantage of replacement if stolen was outweighed by the inconvenience of using them.

 

We currently use two different types of chip and pin cards from two different banks. A few years ago, we spent two weeks in Bonaire, and when checking out, our TD Visa card had been frozen. We had used it at a North America-wide chain store that had been hacked, and TD took the step of freezing the cards of all holders who had used their card at any of the chain's stores. Fortunately, the owners of the establishment were both understanding and very trusting, and we were able to provide them with a new number a week later.

 

Our new primary card offers the benefit of no transaction charge on currency exchanges, and the exchange rate is better than I can get at any bank or currency exchange shop. The second is a USD card that I may drop the new primary card really negates the need for a USD card. In this case, I'll carry another card for backup.

 

We always carry a good amount of cash too, but go ashore with very little unless we've booked a private shore excursion requiring cash, quite common in the Caribbean.

[Phxazzcruisers]

The only place you will be able to cash Travelers Check would be on the ship. They are dinosaurs and will soon disappear completely.

[ghstudio]

Travelers checks are one of the best/safest ways to get cash on-board for the casino which only takes cash.

[karena1]

I am re-thinking the issues of taking cash ( US dollars ) vs. travellers checks, vs. the new credit card(s) with the embedded chips.

On recent cruises, I/we mostly took cash, and had no problems.

Does anyone even use travellers checks anymore? Or is this a 1980's concept.?? :-)

Next 2 cruises are northern Europe, The Med. and Turkey.

Thanks in advance for the good suggestions that I know will be offered

on this forum.

 

Never use Travelers Checks. I just take cash. Put it in the safe on the ship and take out what I need for the day. I also do not use my Credit Card in any non-us place. I take it in case of an emergency, but otherwise I just use cash.

 

That being said, I have never traveled to Europe. With the cost of some of the stuff there, I would probably break down and take some Traveler's Checks so I could take them off the ship with me in case I needed them.

[Fouremco]

Never use Travelers Checks. I just take cash. Put it in the safe on the ship and take out what I need for the day. I also do not use my Credit Card in any non-us place. I take it in case of an emergency, but otherwise I just use cash.

 

That being said, I have never traveled to Europe. With the cost of some of the stuff there, I would probably break down and take some Traveler's Checks so I could take them off the ship with me in case I needed them.

Just curious as to why you wouldn't use a credit card outside the US? Security issues?

[Christine Frances]

On our Baltic cruise we brought both USD and Euro Traveler Cheques. Worked perfectly as there was no problem cashing them as needed (with no charge) at Guest Relations. We watched the exchange rates and bought both currency's over the 18 months prior to our cruise. Good thing we did as our dollar took a hit just before we sailed. I would have been in sticker shock if I would have had to use the ATM's or Credit Card during the cruise:eek:

 

Don't try and cash Traveler Cheques off the ship. I don't know anywhere else that takes them.

 

We have accounts at Scotiabank in both currency's so anything left over haha can go right back into the bank account.

Edited August 6, 2014 by Christine Frances

[fleckle]

I am re-thinking the issues of taking cash ( US dollars ) vs. travellers checks, vs. the new credit card(s) with the embedded chips.

On recent cruises, I/we mostly took cash, and had no problems.

Does anyone even use travellers checks anymore? Or is this a 1980's concept.?? :-)

Next 2 cruises are northern Europe, The Med. and Turkey.

Thanks in advance for the good suggestions that I know will be offered

on this forum.

We find it easiest and most cost efficient to use credit cards that do not charge a fee for foreign currency conversion, especially on European trips where a number of different foreign currencies are involved.

 

No hassles needing to exchange money, carrying around and keeping track of multiple bulky foreign bills and coins, then getting stuck with exchanging back whatever is left over.

 

Credit cards are certainly as safe as traveler's checks, but definitely much more convenient and widely accepted.

We have not used traveler's checks in several decades.

 

A nice extra bonus of using a credit card is getting cash back, or miles, or whichever perk you prefer.

 

As previously mentioned, if you only carry one credit card around with you and leave the others locked up in the safe, there are no concerns about time restraints in obtaining a replacement, should it become necessary.

 

From overseas it only takes one collect phone call to cancel the card, and then you still have your other cards to use while awaiting the replacement.

 

We bring a small amount of cash to use for tips and miscellaneous small purchases from street vendors, but try to minimize the amount of cash we carry around.

 

Besides, we know that we can always get more cash from an ATM at just about any port along the way, should the need occur.

[rebeccalouiseagain]

All you need is an ATM card. That's what everyone uses for cash. The rest of the time use your credit card. Must call your credit card companies before you leave to let them know that you are going to be in Europe- otherwise they may deny the purchases in Europe. Always have two credit cards with you.

Edited August 6, 2014 by rebeccalouiseagain

[richard1s]

LOL - I thought I was one of the last holdouts for travelers cheques and I used them up until our most recent July cruise. You can buy them at an Amex Travel Agency and the charge is 1% if exchanging cash (US currency) and you have an Amex card. I'm not sure how that even covers their cost.

 

But they are an inconvenience when you factor in the time it takes to go get them, fill out and sign the little required document and also sign each cheque. And I have actually been called down to Guest Services by the ship's purser (forget what line) after cashing one because my signature when I cashed it was a little different than the signature when I purchased it.

 

Last time we just took cash and things were significantly easier. I imagine that these won't be around too much longer.

[WpgCruise]

Travellers Cheques remain a viable option, you can buy them in any currency you want, but as mentioned the places to cash them are fewer and fewer. The Customer Service desk on the ship is the best option to cash them.

 

While Credit Cards and ATM's are popular, far too many times there are issues, machines are down, out of funds, card is "damaged" and kept by the machine, If you are at home and the card won't work, no big deal. If you're out of the country, all of a sudden, it is a big deal.

 

I much prefer either good old cash, or something I can convert to cash, like a Travellers Cheque.

[Christine Frances]

Travellers Cheques remain a viable option, you can buy them in any currency you want, but as mentioned the places to cash them are fewer and fewer. The Customer Service desk on the ship is the best option to cash them.

 

While Credit Cards and ATM's are popular, far too many times there are issues, machines are down, out of funds, card is "damaged" and kept by the machine, If you are at home and the card won't work, no big deal. If you're out of the country, all of a sudden, it is a big deal.

 

I much prefer either good old cash, or something I can convert to cash, like a Travellers Cheque.

 

Totally agree:)

[Project_gal]

Never use Travelers Checks. I just take cash. Put it in the safe on the ship and take out what I need for the day. I also do not use my Credit Card in any non-us place. I take it in case of an emergency, but otherwise I just use cash.

 

That being said, I have never traveled to Europe. With the cost of some of the stuff there, I would probably break down and take some Traveler's Checks so I could take them off the ship with me in case I needed them.

 

This is basically our strategy. We purchase FX when the exchange rates are good. In addition, not being from the US, we also purchase OBC when the rate offered is good. We take two credit cards and a debit card as backup but these also stay in the safe more of the time.

 

We stopped using travellers cheques very many years ago for trips anywhere but the USA as that was the only place they were easy to exchange. About 2005, it even started getting difficult to use TCs in the US. I would neve consider buying TCs anymore.

[coldweathergirl]

We take cash, credit cards and debit cards. Make sure you notify your bank of where you will be traveling so your cards are less likely to get shut down.

 

When we were in Turkey several years ago they would only take local currency or CC for entry fees to local attractions.

[davekathy]

Always take our Credit Card for on the ship account. Always take travelers Checks for cash. I just go down to guest relations on the morning of our port and cash the amount of Travelers Check I need for cash. Simple.

[Hlitner]

Never use Travelers Checks. I just take cash. Put it in the safe on the ship and take out what I need for the day. I also do not use my Credit Card in any non-us place. I take it in case of an emergency, but otherwise I just use cash.

 

That being said, I have never traveled to Europe. With the cost of some of the stuff there, I would probably break down and take some Traveler's Checks so I could take them off the ship with me in case I needed them.

 

Ok, so you could take plenty of Travelers Checks off any ship in Europe :). And they would be good for papering the walls in a rest room stall. It has become very difficult to impossible to cash a travelers check anywhere in Europe. In fact, many younger adults have never even heard of Travelers Checks.

 

And you have my interest when you say you just use cash. We just returned from a couple of months in Europe where our expenditures were many thousands of Euros (not dollars). And we also had rental cars which are impossible to obtain without a credit card. So how does one do these things with cash? Oh, and most hotels now insist on a major credit card at check-in (they will say for "incidentals) for their own protection.

 

Hank

[Christine Frances]

Always take our Credit Card for on the ship account. Always take travelers Checks for cash. I just go down to guest relations on the morning of our port and cash the amount of Travelers Check I need for cash. Simple.

 

Like!! DH hates running around looking for ATM's and holding our tour group up. If I need money, ie different currencies, we exchange $20-$40 USD at Guest Services for local currency to use for lunch etc. We are not charged for TC's at our bank or on the ship and it is a great (and safe) way to take funds for our cruise. Don't even try to cash them ashore though. As long as AMEX sells them we will use them for the convenience.

[varoo]

Ok, so you could take plenty of Travelers Checks off any ship in Europe :). And they would be good for papering the walls in a rest room stall. It has become very difficult to impossible to cash a travelers check anywhere in Europe. In fact, many younger adults have never even heard of Travelers Checks.

Very wise and sensible advice!

You appear to be a knowledgeable, experienced traveler.

 

Even back in the days when we still used travelers checks, one thing I always disliked about them was needing to buy predetermined denominations and then getting stuck with all that change in different foreign currencies.

 

That doesn't happen with a credit card as you pay the exact amount needed each time.

You also avoid paying any currency exchange fees (as long as you use a card that does not charge them).

 

Additionally, on a few occasions when I experienced a problem with a purchase I was very happy and grateful to have the protection of the credit card company.

 

When you pay with cash and there is a problem, you are out of luck and have no protection at all.

Your cash is immediately gone.

 

With a credit card, you are not actually paying anything up front so you have plenty of time to review your purchases before you need to pay for them in the following billing cycle.

If you have a valid dispute, you never pay anything at all.

That protection alone makes it worth using a credit card to me, aside from the other benefits.

And you have my interest when you say you just use cash. We just returned from a couple of months in Europe where our expenditures were many thousands of Euros (not dollars). And we also had rental cars which are impossible to obtain without a credit card. So how does one do these things with cash? Oh, and most hotels now insist on a major credit card at check-in (they will say for "incidentals) for their own protection.

I cannot imagine trying to rent a car or book a hotel room, or even a cruise without using a credit card.

I limit the amount of cash I will carry around to as little as absolutely necessary, knowing of too many travelers who have lost their money that way.

 

Just talk to a friend or relative who works in law enforcement in any major tourist area and you will get an earful about naive, unsuspecting tourists who lost large amounts of cash they were carrying around.

It happened to people we know personally who thought they were safe by carrying their cash around in a money belt. The money belt was the first thing the robbers looked for.

 

Edited August 7, 2014 by varoo

[Christine Frances]

Very wise and sensible advice!

You appear to be a knowledgeable, experienced traveler.

 

Even back in the days when we still used travelers checks, one thing I always disliked about them was needing to buy predetermined denominations and then getting stuck with all that change in different foreign currencies.

 

That doesn't happen with a credit card as you pay the exact amount needed each time.

 

Additionally, on a few occasions when I experienced a problem with a purchase I was very happy and grateful to have the protection of the credit card company.

 

When you pay with cash and there is a problem, you are out of luck and have no protection at all.

Your cash is immediately gone.

 

With a credit card, you are not actually paying anything up front so you have plenty of time to review your purchases before you need to pay for them in the following billing cycle.

If you have a valid dispute, you do not pay anything at all.

That protection alone makes it worth using a credit card to me, aside from the other benefits.

I cannot imagine trying to rent a car or book a hotel room, or even a cruise without using a credit card.

I limit the amount of cash I will carry around to as little as absolutely necessary, knowing of too many travelers who have lost their money that way.

 

Just talk to a friend or relative who works in law enforcement in any major tourist area and you will get an earful about naive, unsuspecting tourists who lost large amounts of cash they were carrying around.

It happened to people we know personally who thought they were safe by carrying their cash around in a money belt. The money belt was the first thing the robbers looked for.

 

 

I guess you travel differently than us. Usually only take a small amount of local currency ashore. When we want a gelato we pay in local currency, a 2 Euro souvenier again local currency, a small local lunch and wine, again local currency. We travel with 2 Visa's - one with a large limit that will get us out of any problem/trouble which stays in the cabin safe and a low limit one that we take ashore. The low limit CC with no for ex transaction fees is for if i see bag (lol) that I just have to have. I am a retired banker and I do not expose any of my/our cards unless necessary plus we get better rates pre buying USD.EUROS/GBP than by charging at the time of our cruise. We do not travel with large sums of "cash" only TC's which we exchange at par at Guest Services.

 

I always get the willies when I see pax on our tours etc loading up on cash at ATM's and carrying it around for the rest of the day. What a target!! But everyone on CC tells them to use local ATM's:eek: Not us!!

[Sloop-JohnB]

I guess you travel differently than us. Usually only take a small amount of local currency ashore. When we want a gelato we pay in local currency, a 2 Euro souvenier again local currency, a small local lunch and wine, again local currency. We travel with 2 Visa's - one with a large limit that will get us out of any problem/trouble which stays in the cabin safe and a low limit one that we take ashore. The low limit CC with no for ex transaction fees is for if i see bag (lol) that I just have to have. I am a retired banker and I do not expose any of my/our cards unless necessary plus we get better rates pre buying USD.EUROS/GBP than by charging at the time of our cruise. We do not travel with large sums of "cash" only TC's which we exchange at par at Guest Services.

 

I always get the willies when I see pax on our tours etc loading up on cash at ATM's and carrying it around for the rest of the day. What a target!! But everyone on CC tells them to use local ATM's:eek: Not us!!

 

You are not alone CHRISTINE FRANCES

 

When we cruise we too travel with more than one CC, and take similar precautions as to their use and limits.

 

We also travel a lot by other means as well than just cruising, where it becomes even more imperative to have a well thought out plan. We use the divide and conquer rule there too (don't keep all your valuables / CCs etc in one spot)

 

Additionally, TCs are only one part of our Emergency Financial Plan when traveling (always amazed when people don't plan for the unexpected / worse case scenario be it Travel Ins, Medical Ins or an Emergency Plan)

 

Being well prepared can soooo make the difference from an "interesting story" on an otherwise great vacation vs a Horrible Holiday that can change one's life circumstances

 

Cheers!

Edited August 7, 2014 by Sloop-JohnB

[Project_gal]

I guess you travel differently than us. Usually only take a small amount of local currency ashore. When we want a gelato we pay in local currency, a 2 Euro souvenier again local currency, a small local lunch and wine, again local currency. We travel with 2 Visa's - one with a large limit that will get us out of any problem/trouble which stays in the cabin safe and a low limit one that we take ashore. The low limit CC with no for ex transaction fees is for if i see bag (lol) that I just have to have. I am a retired banker and I do not expose any of my/our cards unless necessary plus we get better rates pre buying USD.EUROS/GBP than by charging at the time of our cruise. We do not travel with large sums of "cash" only TC's which we exchange at par at Guest Services.

 

I always get the willies when I see pax on our tours etc loading up on cash at ATM's and carrying it around for the rest of the day. What a target!! But everyone on CC tells them to use local ATM's:eek: Not us!!

 

A few comments:

 

I agree that I find it hard to understand why people need huge sums of money ashore when on a cruise. I cannot understand making any major purchase [even a handbag - sorry] in the circumstances. I also have no desire to hire a car. That is one of the reasons I cruise to avoid having to do that.

 

I also do not wish to used an ATM in an area of which I have no knowledge.

 

The protection provided by a credit card is great but, if you are depending on it for your spending money for the rest of your cruise and it is lost/stolen, you at the very least have a few stressful days. The loss of small amounts of local currency stashed away safely in the privacy of your stateroom causes much less distress.

[johncandt]

We use pre paid currency cards which are available in most currencies, you simply load them before you leave (no charge) as they are all linked to Visa never a problem using them in shops , bars , restaurants etc, you can also withdraw cash from ATM with them however there is a small charge for this, in Europe they are very common now but we have also got them in US dollars and S/African rand, losing your card is not a problem they promise to replace within 24 hrs..

[Sloop-JohnB]

We use pre paid currency cards which are available in most currencies, you simply load them before you leave (no charge) as they are all linked to Visa never a problem using them in shops , bars , restaurants etc, you can also withdraw cash from ATM with them however there is a small charge for this, in Europe they are very common now but we have also got them in US dollars and S/African rand, losing your card is not a problem they promise to replace within 24 hrs..

 

Sounds a lot like the pre-loaded Credit Cards we have here in North America (many folks use them to make Internet purchases) but those tend to have high load & maintenance fees as I recall. And I don't remember reading that any unused balance was refundable if the card was lost or stolen

 

Thanks for your post tho... It means I need to go off and do some more research for newer products and their availability worldwide

 

Cheers!