I was wondering whether it is best to take Travellers cheques or cash?

Question

We're going to Canada on the 29th May for just over a week. We'll probably take about £1,200. Do most places still take Traveller's cheques or are we best just sticking to cash? I'm worried about taking that much cash with us

Answer 1

Take about £100 in cash and draw money from an ATM as and when you need. The exchanges rate on these transactions are very good and more than makes up for the transaction fee.

Answer 2

You need to take some cash and then use an ATM (cashpoint) machine. You will find that withdrawing local currency from an ATM is much cheaper and more convenient than travellers cheques, and probably safer too.

I have travelled extensively and used to use travellers cheques a lot, but the hastle of cashing them in and the cost of commission just got too much. Now I use and ATM and sometimes don't even carry local currency on me, just use the ATM in the airport on arrival.

Answer 3

As a regular independant (as opposed to tour groups) traveler, I will normally leave with a mixture of both cash and traveler's checks. In your case, go to your local bank and exchange 100 quid for Canadian dollars. Keep the rest in travellers checks. I would have the cash, so when you arrive at the airport in Canada, you don't have to fuss about getting your hands on some local currency. You'll be able to buy dinner or get a taxi to your hotel. Travellers checks are a good idea, because many banks charge less to exchange them than hard currency. The reason for this is that they can redeem their value electronically, thereby saving money. Remember too, that electronic tellers are ubiqudious and if you have either a debit card or credit card you are never far away from a fresh supply of currency.
--Enjoy your trip---
Ragnar

Answer 4

Good question! Travelers checks are less commonly used these days in the USA, and you'll find cash a lot more convenient. Casinos' cashier cages will exchange travelers checks, no problem. But smaller business and shops may not. Whether to exchange euros or UK pounds into dollars depends on the going exchange rate. What you might want to do instead is withdraw cash from ATMs directly in Las Vegas, since ATMs usually offer pretty good exchange rate with reduced extra fees. Just remember to NOT use the ATMs in casino hotels and resorts, as their transaction surcharges are usually exhorbitant. Better to use ATMs at the airport upon arrival and/or at local banks in Vegas (off-Strip).

Answer 5

It's always better to take both. Some places such as street vendors or mom and pop stores don't take travelers cheques, so its good to have cash. Use travelers cheques or credit card for restaurants and major purchases. Also remember to bring small bills, you have a better chance of having exact change, and helps so you don't get local currency back.

Answer 6

Take a bit in cash and then the rest in travellers cheques.

Answer 7

I would take a small amount of cash and your Switch card, which you can use in a local ATM to withdraw funds as you need. I always do this - it's more convenient than taking travellers cheques, and safer than carrying large amounts of money.

Answer 8

I haven't used travellers checks in years. Bring some cash and your credit cards. If you're worried about theft, consider using one of the prepaid cash cards. Visa has them (http://corporate.visa.com/pd/consumer_products/consumer_prepaid.jsp) and so does American Express. AE's is called "The Travelers Cheque Card". It's got the same anti-theft benefits as the paper checks, but it works like a debit or credit card (it's prepaid to the amount you want) and it's reloadable. I used one in China last year and it worked very well. Went to an ATM, put in the amount in yuan that I wanted, and got out the funds. The American Express card can be see at http://www10.americanexpress.com/sif/cda/page/0,1641,18622,00.asp

Answer 9

Most travel agents would recommend you take two thirds of your money as travellers cheques and the rest in cash, most of them do American express travellers cheques that can be cashed anywhere, you are given pin numbers in case they are stolen so you can have them replaces asp.

Answer 10

I usually take cash, £'s are good just now, and bank cards. I hate having to pay commission when I buy and sell TC's. I know there's a risk, but I try to be very careful and always rent a deposit box at the hotel. £1,200 is not a lot of cash nowadays. The dollarC and the rate is pretty good. You could take half Stirling half dollars.