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"TRAVELER'S CHECKS" Page 1, 2 What kind of traveler's checks to buy
Where to buy traveler's cheques Banks and credit unions sell traveler's checks, as do the AAA, the CAA, and many other national automobile associations. The traditional purchase fee for travellers cheques is 1%, although some agencies charge more. Shop around before buying; your bank or credit union may offer free check purchases with certain types of accounts, and members of automobile associations are usually exempt from purchase fees. Caution: Avoid the new prepaid travel debit cards, which are like a debit-card version of traveler's checks, unless you're willing to tolerate mind-boggling currency-exchange fees. See my American Express Traveler's Cheque Card and Visa TravelMoney Card article for details. Security considerations Traveler's checks are advertised as being "safer than cash," because the issuers promise to replace them if they're lost or stolen. However, the reality is often more harsh: If the issuer decides that you've been negligent, it may refuse to pay up. In practical terms, this means you should handle travellers cheques as if they were cash. You should also keep copies of your receipt and transaction record in two or more places, to be sure of having a record if you need to claim a refund. Related Web links Europe Travel
Planner: Money/Currency
europeforvisitors.com >> Page 1, 2
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