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Viewing Travelers Checks versus Debit CardsTravelers Checks versus Debit Cards
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An important advantage credit and debit cards have over travelers checks, is that when you need the local currency, you will usually get a better exchange rate with your cards. There are also other advantages, explained in this article. By Gaurav Walia On my first time overseas, I had to exchange cash for $200 of travelers' checks to pay a mountaineering guide who had not 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) will not 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 will not have access to your account until the matter is sorted out. Of course, on longer trips it is a hassle to pay the credit card bill on time, which is not a problem with debit cards. Carry both, and on longer trips you can wait until you are a few weeks from home to use the credit card. That way you will 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 will usually get a better exchange rate with your cards. In addition, the cash you get from the local ATM will truly be accepted everywhere, something even American Express Travelers Checks cannot promise. I have nothing against American Express. Once, when I was robbed in Mexico, they quickly replaced my stolen traveler's checks. In addition, 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; do not leave home with them. You can take an American Express credit card instead. About the Author: For more free resources visit www.tours-guide.com. Article source: 111 Travel Directory: Triple1.com (triple one dot com) More free articles: 1st Rate Articles - 1stRateArticles.com |
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