Saturday, August 22, 2009

Think Twice before Doing Travelers Checks

Travelers Checks was a good way to bring a large amount of money with you overseas without the risk of your money being lost or stolen. The key word is “was”. Nowadays, atm/debit/credit cards offers the same safety & convenience but with better acceptability. Just look for the sign like Cirrus, Mastercard, Visa or Plus for example at the ATM (auto teller machines) where your card is accepted & you can easily withdraw your cash overseas. Travelers Checks is a thing of the past.

In some countries you would be considered lucky to find banks or money exchangers who would want to accept the Travelers checks. There is one story where a woman bought some Travelers checks from a particular bank in New York & went to vacation overseas. Unfortunately, all the money exchangers & banks she went to did not accept Travelers checks. She then even went to the same bank franchise in the country of destination but she received the same response. Think twice before changing your money into Travelers Checks.

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