which is better to take when traveling to canda? credit cards or traveller's cheques?

Question

i'm going to study a short term course in toronto soon. which is more practical and useful? a traveller's cheque or credit card?

Answer 1

Don't use traveller's cheques!


Credit cards are the best and the majority of credit cards do not charge per transaction you just get charged an exchange rate (I found that my exchange rate was always very fair). Make sure you check was your credit card's policies are.


Traveller's cheques are a pain! You get charged the exchanged and charged for buying them, most places don't accept them and if you want to convert them into cash you get charged again.

Answer 2

Credit cards are universally accepted. Traveller's cheques aren't -- especially in small towns or by small stores. If you're going to be here for a while (I don't know how long a short term course is) you can get a traveller's cheque for whatever you figure it will cost you to stay, then use it to start a bank account once you get to Toronto.Having a local bank account makes life much easier, and you can use personal touch banking (there are bank machines everywhere) to withdraw cash as you need it. A credit card for backup means you won't have to worry.

Answer 3

Well.... it depends. Yes, you won't have transaction fees if you use Traveler's checks,but not everyplace will accept them. If you use credit cards, I HIGHLY suggest you check with the issuing company to determine exactly what fees are involved. You will want to know how they calculate exchange rates, what fees they charge for converting your charges back to your home country currency and what other charges they may add on. You may discover that one or more of your cards charge significantly higher fees, so it is VERY good to compare before you go. If you don't have complete documentation for your cards, call the issuing company and ask about the fees.

Also know that there may be ADDITIONAL fees charged by ATM machines if you choose that method for obtaining cash. In those cases, you not only need to know the charges from your own bank or issuing organization but ALSO the charges from the bank or service you are using in Canada.

The short answer is check out your options BEFORE you leave. It is no fun to discover AFTER the fact that an extra 10 percent or so of your funds have "disappeared" through bank fees.

Answer 4

More places take credit cards I think. Both are insured, traceable, and replaceable. Traveller's cheques might be a tad more secure. Be sure to catch The Lord of the Rings musical while you're in TO!

Answer 5

Its better if you can bring some cash and international credit cards. It is most likely that almost all establishments in Singapore, Malaysia and Philippines do accept credit cards especially in hotels, malls, bars and restaurants. Im just really not sure in Sri Langka. But if your main purpose in going to these countries is to shop at bargain markets then you should bring more cash as to these shops dont normally have credit card facilities.

Answer 6

credit card, as you can usually get a better exchange rate, than trying to cash a travellers cheque

Answer 7

it's better to take a credit card, if you run out of travelers cheques then your screwed, no more money, but if you have your plastic, at least if it's an emergency you'll have it!

Answer 8

travelers checks, sometimes credit card companies charge you fees for processing outside the country

Answer 9

Credit cards are widely accepted and welcome. Use your bank ATM card to withdraw cash from your home checking account in Canadian currency at the best exchange rate.

Check with your bank to find out which system they link to (Cirrus, Plus) so you'll know what to look for when you're here.

Lots to see and do: http://www.toronto.com/attractions...

Photos on my blog: http://thetravelzine-torontosc.spaces.msn.com/

Enjoy our city!

Answer 10

Credit cards for your main expenses because the will adjust the US/Canadian dollar rate on a daily basis (at least AMEX did for me).