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My first time overseas, I had to exchange cash in $200 of travelers
checks to pay a mountaineering guide who hadn't heard of American
Express. The bank charged me $8. During the same trip, I used
my debit card at an ATM to get $200 from my checking account.
Once home, I saw that the charge for this was one dollar, and
that was the last time I used traveler's checks.
Debit And Credit Cards When Traveling
I usually carry a debit card and a credit card when I travel
now. I keep them well-hidden in two separate places. If they
are stolen, which has never happened yet, they have either zero
liability, or a fifty dollar liability limit for any unauthorized
charges. Ask your bank or credit card company about this.
When an Automated Teller Machine (ATM) won't take one of the
cards for some reason - and this will happen - I use the other
card, which usually works fine. Credit cards may be less trouble
than debit cards. Your liability could be zero on your stolen
debit card, but you probably won't have access to your account
until the matter is sorted out.
Of course, on longer trips it's a hassle to pay the credit
card bill on time, which isn't a problem with debit cards. Carry
both, and on longer trips you can wait until you're a few weeks
from home to use the credit card. That way you'll get there
before the bill does.
An important advantage credit and debit cards have over travelers
checks, is that when you need the local currency, you'll almost
always get a better exchange rate with your cards. Also, the
cash you get from the local ATM will truly be accepted everywhere,
something even American Express Travelers Checks can't promise.
I have nothing against American Express. Once, when I was robbed
in Mexico, they quickly and curtiously replaced my stolen traveler's
checks. Also, at times it is appropriate to carry money in several
forms, including theirs. However, times change and ATMs are
everywhere now, so my policy is : Travelers checks; don't leave
home with them. You can take an American Express credit card
instead.
About The Author
Steve Gillman hit the road at sixteen, and traveled the U.S.
and Mexico alone at 17. Now 40, he travels with his wife Ana,
whom he met in Ecuador. To read their stories, tips and travel
information, visit: http://www.EverythingAboutTravel.com.
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