When travelling overseas is it better to bring traveller's checks or just use ATM's?
Answers
419 points
TeachMeMore answered one year ago …
I guess it depends on where overseas - third world countries, with very limited American ATM's and NO standard credit card network, I'd go for the travellers checks.
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312 points
mjrenn answered one year ago …
Definately depends on where you are going. We assume travellers checks are easily accepted everywhere but incredibly, I have had them refused in Tokyo more than once and forget about t/checks in the smaller Japanese cities. In Hong Kong, Japan, Thailand finding an ATM is not as easy one would think. No worries in Singapore. I only ever carry Amex and Visa these days as well as a minimal amount of the local currency. As yet I haven't been in any third world countries yet so cannot comment on them.
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1130 points
sundarkambam answered one year ago …
Different people have given their experience in the link
http://ask.metafilter.com/19335/Overseas-money
Speaking of India, ATM's are not an issue.
India's biggest bank ,State Bank of India ,has a huge ATM network followed by ICICI Bank.
699 points
7million7years answered one year ago …
Yes, my guru's guru (guroovy!) used to be the President of the Bank of India ... they are not 3rd world, though.
I have been around the world perhaps 20 or 30 times and haven't carried anything other than cash'n'cards in years, if that helps.
139 points
Redsky answered one year ago …
I can answer for Egypt: ATMs are no problem at all. There are branches for American banks, European banks and Asian banks; as far as the cash network - like cirrus or 123; they're all over.
Actually I think one would have more trouble cashing a traveller's check than locating an ATM he can use.
Another tip:
Conventional wisdom tells me that this the case - or better - all over the middle east + say, southern Europe.
Not sure about central Africa though.
Cheers
102 points
cutpasta answered one year ago …
I think its better to use ATM
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hyper answered one year ago …
there were no atms before so we had no choice then but to bring travellers checks whenever i travel. but now you are much better off using atms over travellers checks as you get your cash anywhere like a vending machine.
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391 points
slick answered one year ago …
There's almost always an American Express office in every major or semi-major city. Their rates are OK - but fee + commission - even if you're an AMEX member.
But if you have a WAMU gold ATM card, they don't charge commission - just a flat $4 fee. Almost all the other banks will charge you a fee and a commission.
103 points
Carlos answered one year ago …
I am from Botswana, Southern Africa.Its always better to use ATMs. In my country for instance,. our ATMs accept AMEX, VISA.VISA ELECTRON,etc Debit/Credit cards. Our Commercial banks have a global ATM network for most U.S and E.U banks .
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269 points
stocktraderdan answered one year ago …
I traveled to Thailand, Australia, Canada, Mexico and 5 countries in South America. The only place I had a problem with ATMs was in South America. But I carried two ATM cards from 2 different banks, both with Cirrus, but sometimes one would work but not the other. I suggest using ATMs and always having $200 in traveler checks, but only use the checks in absolute emergencies.
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damnITall7488 answered one year ago …
I can attest for Pakistan that the high end shops accept any major credit cards
Medium size shops are starting to accept Visa and Mastercard
As far as ATM cards, to withdraw cash, your best bet would be Citibank seeing as how there are quite a few of them there.
I found interesting that over there, the locals citibank atm debit card has a visa logo on it while in NYC ours generally have a mastercard logo.
And its always good to carry some local currencies because just like street vendors here, street vendors there don't take credit cards and traveler's checks are harder to cash.
113 points
damnITall7488 answered one year ago …
I'd also like to add that Chase, HSBC and Habib American bank branches are there in the city of Karachi.
I'm not sure about other areas.
