US travel checks in Europe

[daring]

How much of a pain is it to use US travel checks in Spain/Malta/ Italy or does it matter other than having to do conversions?

[CintiPam]

It is a big, big pain. Very few places except a bank and your cruise ship will accept them (and you will pay for the conversion into Euros). Since the widespread adoption of the Euro in the past 10 years, the Euro has displaced the US dollar as the lingua franca there. Also, since the advent of the ATM machine, traveller's checks have gone the way of the dodo.

 

However, if you want the security of traveller's checks, get them in Euro denominations, not US dollars. I know that some private tour companies, such as Italy's romeinlimo, highly-praised on these boards, will accept them.

[English_in_Spain]

I would not bother with travellers cheques in Spain. It is not always easy to find somewhere to change them. A lot of banks refuse to change them if you do not have an account with them and the 'exchange' offices give a very poor rate of exchange.

 

If you are on a cruise you will probably find that the ship will exchange TCs but you will probably not get a good exchange rate.

 

You will probably do better to use ATMs and just draw as much and as when you need.

[daring]

It is a big, big pain. Very few places except a bank and your cruise ship will accept them (and you will pay for the conversion into Euros). Since the widespread adoption of the Euro in the past 10 years, the Euro has displaced the US dollar as the lingua franca there. Also, since the advent of the ATM machine, traveller's checks have gone the way of the dodo.

 

However, if you want the security of traveller's checks, get them in Euro denominations, not US dollars. I know that some private tour companies, such as Italy's romeinlimo, highly-praised on these boards, will accept them.

 

Thank-you,

 

I didn't think the little girl at the bank who sold them to me knew what she was talking about. Glad I didn't spend a lot.

[Fblack]

Even if the cruise line charges a fee and poor exchange rates, travelers checks are still a safe way to have extra cash. My ATM card has a $300 a day limit and I don't feel like carrying several thousand Euros on me. You can get Euro travelers checks and American Express offices will cash U.S. travels checks as will the ship.

[thinfool]

Thank-you,

 

I didn't think the little girl at the bank who sold them to me knew what she was talking about. Glad I didn't spend a lot.

 

There are a ton of posts here on CC about this issue and, hands down, the ATM machine comes out on top for convenience and "best" conversion rate.

 

Said that...some like having a few euros in their pocket when they land in a foreign country. Your local bank may be able to arrange that for you before you leave. (expensive!)

 

Personally, I find that I can claim my luggage, clear customs and slide my ATM card thru a machine before I leave the airport, having enough local currency for anything that I choose.

 

As with anything, count the cost. Inquire as to conversion fees and how foreign ATM transactions are handled by your bank. Some banks will rebate the fees and have low conversion rates....others, not so much.

[ab0si]

If you are carrying travelers' checks on a cruise, I would suggest (contrary to what another poster recommends), carrying one denominated in U.S. Dollars. that assumes the ship you are taking uses $US as the on-board currency (which all the U.S. based line do -- to my limited knowledge).

 

Cashing TC on land varies from difficult to very difficult, so you will most likely be cashing them on-board. If you get them in euros, you will likely be paying a fee (or a exchange rate less than wonderful) to convert the euros (travelers' checks) to dollars on-board and then another fee to convert to euros.

 

Prior to my retirement (my best career move according to my ex-boss), I travelled extensively internationally. For years I carried $2,000 in US denominated TC for emergencies. I finally gave up this practice in the mid-90s as, while I had several emergencies, there was never any need for them. Since then when traveling to strange and wondrous places I carry emergency cash in whatever is the "best" currency for the locale (which might be the local currency, US$, euro, whatever). Some in a money belt, some hidden elsewhere. I had to use this stash once (trekking in Borneo).

 

Assuming you have a debit/bank card, using the local ATMs is almost always the best way to get local currency -- assuming you need no more than $300-$500 per day. even with the associated fees, it is still usually the best deal and certainly the easiest. Note: using a credit card in ATMs is expensive since it is treated as cash advance for which there are unholy fees and interest rates.

 

Two other points, if I may:

1) If you are going to take Travelers' Checks, I suggest Amex ones. Since you are cruising, the chances are that post ports at which you stop are likely to have an American Express office. If you can get to this office during open hours, you will know they will cash them for you.

 

2) The cruise lines I have used cash personal checks ($1000 max) so for the cruising portion of my trips, access to money even if all the ATMs are off-line due to a Martian invasion or whatever, I can still get cash. I have no idea how wide spread this service is.

[CintiPam]

If you are carrying travelers' checks on a cruise, I would suggest (contrary to what another poster recommends), carrying one denominated in U.S. Dollars. that assumes the ship you are taking uses $US as the on-board currency (which all the U.S. based line do -- to my limited knowledge).

 

Cashing TC on land varies from difficult to very difficult, so you will most likely be cashing them on-board. If you get them in euros, you will likely be paying a fee (or a exchange rate less than wonderful) to convert the euros (travelers' checks) to dollars on-board and then another fee to convert to euros.

 

Prior to my retirement (my best career move according to my ex-boss), I travelled extensively internationally. For years I carried $2,000 in US denominated TC for emergencies. I finally gave up this practice in the mid-90s as, while I had several emergencies, there was never any need for them. Since then when traveling to strange and wondrous places I carry emergency cash in whatever is the "best" currency for the locale (which might be the local currency, US$, euro, whatever). Some in a money belt, some hidden elsewhere. I had to use this stash once (trekking in Borneo).

 

Assuming you have a debit/bank card, using the local ATMs is almost always the best way to get local currency -- assuming you need no more than $300-$500 per day. even with the associated fees, it is still usually the best deal and certainly the easiest. Note: using a credit card in ATMs is expensive since it is treated as cash advance for which there are unholy fees and interest rates.

 

Two other points, if I may:

1) If you are going to take Travelers' Checks, I suggest Amex ones. Since you are cruising, the chances are that post ports at which you stop are likely to have an American Express office. If you can get to this office during open hours, you will know they will cash them for you.

 

2) The cruise lines I have used cash personal checks ($1000 max) so for the cruising portion of my trips, access to money even if all the ATMs are off-line due to a Martian invasion or whatever, I can still get cash. I have no idea how wide spread this service is.

 

1. Very good point that a US cruise line only will accept US dollar traveler's checks. But on land, the Euro traveler's check is best. I do not use either, preferrring the convenience of the ATM.

 

2. Also many cruise lines, like ours, do not accept or cash personal checks.

[California Native]

BIG BIG BIG PITA

I would save the travelers check for here or use them on a ship.

but before you use them on the ship (assuming the currency onboard is USD) call the main number several times and ask if there is a fee and the exchange rate.

We use ATMS from 2 seperate accounts at 2 seperate banks. If for some reason one bank is down the other will (fingers crossed) work.

We also purchase some currency before we leave.

(that is a whole other thread that people have their prefered way of doing that and at times has gotten just as nasty as a dress code thread)

[jlijny]

Remember, if you are booking private tours, most of them do not accept credit cards. You must pay in euros or euro travelers checks. Since I have booked several private tours, amd I do not want to carry 2500 euros with me, and I certainly can't withdraw 500 euros from my atm card, I have not alternative than to purchase euro travelers checks. I plan to get the euro T/C to pay for my tours only.

[California Native]

Remember, if you are booking private tours, most of them do not accept credit cards. You must pay in euros or euro travelers checks. Since I have booked several private tours, amd I do not want to carry 2500 euros with me, and I certainly can't withdraw 500 euros from my atm card, I have not alternative than to purchase euro travelers checks. I plan to get the euro T/C to pay for my tours only.

 

did you get in writing that they won't charge you an additional surcharge to use the travelers checks?

if so, I would print it out and carry with you on the day of the tour, Ive heard of tour companies having selective memory in the past about this...

[texancruzer]

Well here is a vote to take some.

 

We always take American Express travelers checks in US $ .

 

The ships will cash them. Then you can buy euros. We were not charged a fee to cash them and found the conversion fee this last trip was really pretty good. We try not to use them opting instead to exchange cash or ATM's. However -sometimes it is just plain easier to do the above.

 

Again, you can up your limit on your ATM w/d by calling your bank, but be aware that the ATM ITSELF HAS LIMITS ON HOW MUCH YOU CAN GET. So if you need a big chunk of change for a pricey tour......you will be running around to more than one ATM in order to pull enough cash (euros) out to pay for it.

 

We take US cash, travelers checks (usually left in safe for emergencies), our debit card, and usually 4 credit cards (Amex gold, plantinum, MC and Visa) Don't bother with Discover card - no one takes it !!!!

[CintiPam]

 

Again, you can up your limit on your ATM w/d by calling your bank, but be aware that the ATM ITSELF HAS LIMITS ON HOW MUCH YOU CAN GET. So if you need a big chunk of change for a pricey tour......you will be running around to more than one ATM in order to pull enough cash (euros) out to pay for it.

 

That's true, but with two cards, yours and that of your significant other, that's at least 500 Euros from one ATM machine stop. If you're paying more than that for two people for a day tour, you are getting ripped off. Besides, any private tour operator would be more than happy to take you to a safe, reliable ATM machine if you are low on Euros. They like to get paid!

[Hlitner]

I always take some AMEX travelers checks. In fact, I have been taking those same TCs for about the past 10 years and never used any of them. We just returned from Europe today (been away 2 months) and got all of our Euros via ATMs. In one case we did try to use a TC and it was refused!

 

Hank

[texancruzer]

That's true, but with two cards, yours and that of your significant other, that's at least 500 Euros from one ATM machine stop. If you're paying more than that for two people for a day tour, you are getting ripped off. Besides, any private tour operator would be more than happy to take you to a safe, reliable ATM machine if you are low on Euros. They like to get paid!

 

We did use ATM's mostly. Out of the $2000.00 in travelers checks we took - I came home with $1500. Put it back in my account and promptly paid the American Express bill off with it (our seapass bill was $1230.00) so I also kind of use it as a "even steven" kind of stash. Almost every cruise I come out even and do this. But I also like the safety net especially now when you read about all the credit card companies cancelling cards for no reason and without notice.....would hate to be stuck in Europe on a marvelous vacation and have credit card problems :eek:

[CintiPam]

We did use ATM's mostly. Out of the $2000.00 in travelers checks we took - I came home with $1500. Put it back in my account and promptly paid the American Express bill off with it (our seapass bill was $1230.00) so I also kind of use it as a "even steven" kind of stash. Almost every cruise I come out even and do this. But I also like the safety net especially now when you read about all the credit card companies cancelling cards for no reason and without notice.....would hate to be stuck in Europe on a marvelous vacation and have credit card problems :eek:

 

I understand that many people like a safety net; piece of mind indeed is priceless. But remember that when we are talking about ATM usage, we are not talking about credit cards, but withdrawals from your checking account at your local bank. Using a credit card in an ATM is very costly and should be avoided when possible.

 

Even if all my credit cards are cancelled during my two to three weeks in Europe, my local bank is not about to eliminate my checking account!:D

[texancruzer]

Ahh... there is where we differ. We used our BOA mastercard...... very cost effective to pull $ out of an ATM. Great exchange rate and if using a Deutschbank - no fees whatsoever. Had plenty of money in checking account but have had problems before using debit card so it was there if we needed it.....but will pull off of BOA first.

[BurBunny]

Ahh... there is where we differ. We used our BOA mastercard...... very cost effective to pull $ out of an ATM. Great exchange rate and if using a Deutschbank - no fees whatsoever. Had plenty of money in checking account but have had problems before using debit card so it was there if we needed it.....but will pull off of BOA first.

 

You might want to double check that using a true credit card that way won't incur "cash advance" fees, which can be up to 29% (maybe more now) and which accrue interest from day one.

[CintiPam]

Ahh... there is where we differ. We used our BOA mastercard...... very cost effective to pull $ out of an ATM. Great exchange rate and if using a Deutschbank - no fees whatsoever. Had plenty of money in checking account but have had problems before using debit card so it was there if we needed it.....but will pull off of BOA first.

 

Are you certain? I am not aware of any credit card company that will not charge cash advance fees for ATM withdrawals. I never use a credit card at an ATM.

[KHDTravel25]

Oh and yes if you get cash off of a regular credit card you will be charged normally 29% plus the international currency fee. Visa/MC Debit cards only the bank atm/international curency fees.

[BigGuy25]

We have cars and drivers scheduled in 4 different ports on our upcoming Mediterranean cruise so we'll need to either carry or obtain a LOT of Euros to pay the fees. I was hoping to avoid the cash issue by getting "Euro Travellers Checks" to cover that big expense. However, I'm having a real problem here in Northeast Ohio finding anyone who offers them. Even the banks who offer American Express US checks don't offer those in Euros. Any advice on where to obtain them?

[whogo]

What prepaid debit card do you recommend? Every prepaid card that I have investigated has outrageously high fees. Here is one example with a 7% foreign exchange markup. http://www.travelex.com/us/personal/CP_feeslimitscharges.asp?content=cp

[texancruzer]

Are you certain? I am not aware of any credit card company that will not charge cash advance fees for ATM withdrawals. I never use a credit card at an ATM.

 

Yep. Checked the statement and no fees. When we went our first trip (Nov. 07) we had a terrible euro to dollar exchange rate (about $1.50 to 1 euro) So we just decided not to worry about fees, small differences in exchange rate etc...... it would have driven us nuts to run around trying to find " a slightly better deal". We had read that Deutschbank and BOA MC had a user relationship so when in Rome we found one near the Trevi I believe and used it...... were surprised when statement came.

 

Believe me - we were NOT charged 29 % anything !

 

Big guy: just carry Amex travellers checks and cash them onboard - then buy euros on the ship. We found the exchange rate to be good. HOWEVER - if you go to sell them back you will get poor rate ! So don't buy more than you will need.

[whogo]

What prepaid debit card do you recommend? Every prepaid card that I have investigated has outrageously high fees. Here is one example with a 7% foreign exchange markup. http://www.travelex.com/us/personal/CP_feeslimitscharges.asp?content=cp

 

"Last edited by Host Karen; Today at 07:15 AM."

 

The thread I quoted has disappeared, making my reply unnecessary. Ignore.

[jms2362]

How much of a pain is it to use US travel checks in Spain/Malta/ Italy or does it matter other than having to do conversions?

Many places won't take them. Just use AtM in the countries (you get their currency) or use the ATM on the ship. We have then gotten Euros, etc from purser office. You can cash travelers checks on the ship with purser. It is less expensive to get money in each country in an ATM