hi Debra…i dont like travellers cheques
i use a cashcard.ask ur travel agent about one..its a card where u ahve deposited ur money but u can use it at atms everywhere ( it has nothing on this card..no name or signature or number so thief proof) but u can use it in a shop or restaurant
my mate got stuck with lots of travellers cheques in europe…he was always running round and getting disappointed with the rate hotels etc offered him

get a credit card if u can ..use it as much as possible and use small amounts of cash when u can..pay it all out on ur return and keep an eye on when u need to make payments ir ur trip is longer..

smaller places in europe want cash …around greece and southern italy for eg..sure they will take ur debit card/credit but only if u buy up big

u will be paying quite a bit to use ur debit card..ring ur bank and ask exactly what happens…
withdraw no more than u could afford to lose is my suggestion
a friend withdrew 400 euros to pay an artist for a painting… on his way to get the painting he was robbed by some kids pretending to be drunk and joshing him round….
on the other hand frequent withdrawals will cost u quite a bit
good luck Debra!

1. Traveler’s cheques are not that great in Europe and I wouldn’t count on a specific place accepting them. However, cheques in euros are going to be a whole lot more usable than cheques in US or Canadian dollars. I don’t bother with traveler’s cheques, but a couple of hundred euros in travelers cheques would be an OK way to carry your emergency money.

2. Fees vary with the ATM and with your issuing bank. I use the ATM card from my credit union as it has low fees. $25 a month sounds like a pretty high fee, although it might not be a bad deal for a trip when you might be making a withdrawal every couple of days. Just like at home, some ATMs charge a fee and others don’t. In the course of your trip, you’re almost sure to pay fees.

How much is TD charging now per non TD ATM withdrawal? Will you use an ATM enough for 25/month fee?
The ATM operated by the major banks do not charge a fee in europe for using their machines.

I never had problem with carrying around a lot of money. I put it in my money belt before I walk away from the ATM.

Haven’t used traveller cheques in ages. I think alot of clerks at stores will NOT know how to deal with them. Hell they had problem figuring out how to use a credit card with only a magnetic strip at one store. Alot of small hotels give discounts for cash payment.

I carry 200 USD for emergency money.

If you are a student, ask TD about their student plans, which includes certain amount of "free" withdrawals at non TD ATM. But I think you are better off opening an ING account, actual interest rates, no fee ATM usage (I think the reimburse you if the ATM charges a fee too).

Canadians have another option. Put travel money on your credit card before you leave, such that you have positive balance on it (US credit cards don’t allow this). Get a pin for your credit card. Use the credit card to get cash at ATMs. It’s not consider a cash advance because you are not borrowing, so you don’t get any of the associated cash advance fees. You need to ask your credit card’s bank if you can do this. I did this on a TD Bank VISA and a BoM Mastercard back in 2000 and 2002.

quote:Canadians have another option. Put travel money on your credit card before you leave, such that you have positive balance on it (US credit cards don’t allow this).

You can do this with US credit card companies, you just end up paying a cash advance fee to use your own money.

quote:
You can do this with US credit card companies, you just end up paying a cash advance fee to use your own money.

Really? I think I tried with American Express & Citibank Mastercard, they both say I couldn’t put money into it beforehand (but that was awhile ago, back in 2002). It might vary depending on the card.

American Express markets a travel card that you put money on in advance. I’m not sure how the fees work for it, though.

I’ve never officially checked, but I ended up with a major credit on my MC, so I carried a positive balance until I’d spent it. I assumed you could accomplish the same thing by overpaying your bill, but maybe not.

DebraB, last summer I travelled using my TD-CT account. If you are comfortable using a moneybelt and withdrawing your maximum amount of money, (I usually took out between 200-300 euro each time), paying the PLUS fee each time is not too bad, especially if your trip is on the shorter side – mine wasn’t, but last year the fee was only $3 per transaction.

None of the european ATMs I used charged a fee on their end, but each time you withdraw from the TD account, PLUS will charge the $5 foreign ATM fee.

Many hostels take credit cards, I don’t think you’d be able to use travellers cheques.

Whichever bank you use, find out what your daily and weekly withdrawal amount limits are, if applicable to your account.

Thanks everyone… I think I’ll use my debit card or look into paying money onto my Mastercard to use there.. great ideas and many thanks

There are some Atm’s that hit you with fee’s but they are few and far between (Biggest offenders are nationwide and other building foundation atm’s in the UK).However TD will change you a fee to withdraw
cheers
howie
turok46368@aol.com

In general you will not get a decent exchange rate, no matter where you do this. Go the CC route. If you worry about every $3-$5 you spend, your trip will be very rough on you emotionally, as things are generally more expensive over here (but getting better). Does a small glass of coke cola cost $4-$5 in a US restaurant? Beer is actually cheaper here in most places.