Travelers cheques or ATM?
 

I'm debating relying on my ATM card(s) vs. taking a lump of currency in travelers cheques. Going through middle east (I know I need cash in Iran), to Pakistan/India/Nepal. It's been a few years since I was "out there" in the rest of the world. It seems there are a lot of ATM's everywhere.. enough to satisfy the need? Just throwing the question out there. I'll take a few K in US$ cheques as a backup.

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Kevin

http://www.nohorizons.net

Have 2-3 ATM cards in case a machine gets the munchies.

Amex Travelers Checks can be easy or impossible to chash depending on where you are. But, they are real and will provide cash... eventually. Also, their value can be recovered if lost or stolen.

Stash some big bucks (US $) on the bike where it's so hidden that only you could ever find it. Real emergency stash.

Most travelers that depend on ATMs for cash wait until they they're broke or close to broke before 'hoping' that their card will set them free..again.

I used to think travellers cheques were obsolete, until this trip. We have been in several places in Asia where there are no ATMs, but US travellers cheques ARE accepted.

Best way to deal with money: US dollars cash, ATM cards (both a visa and mastercard), travellers cheques and a credit card. This should cover you everywhere on the planet.

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Dave
www.mototrekker.com

One more note on ATMs...be aware of the fee that the ATM and your bank charge for each ATM withdrawal. Some ATMs have a maximum amount you can withdraw and it may be as low as $100 or less in countries that have non-convertable currencies. Paying a $5 or $7 fee to take out $100 isn't going to be too cost effective. This is one example of how traveller's cheques can be better than ATMs.

Again, a combination of money is best. And don't forget that when it comes to cash, the US dollar is still king in Asia. Euros can be tough to cash at times, but the dollar is accepted anywhere that exchanges money.

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Dave
www.mototrekker.com

Thanks David. I guess that makes sense. I'll take a mix of things. Good point on the $5 charge (on the Canadian side only). Probably more charges on the other end too.

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Kevin

http://www.nohorizons.net

Cant comment on that area, but a general comment based on South America, worth having not only a debit card through Visa, but also Maestro. In some places only Maestro ATMs

I went through the middle east recently. ATM for me turned out to be the best choice. And ususally you get pretty reasonable exchange rates on doing so. I am talking about countries like Turkey, Syria, Jordan, and Egypt (whereby in Syria you might face some difficultiers finding an ATM).

I am on my way to India (right now in Sudan) and will likely cross through Iran, Pakistan... I do not know how the ATM situation is over there (there are none in Sudan), however in India it should not be a problem nowadays. I have been there three years ago, and did not find any ATM. However it was never difficult to get cash in advance on your credit care in banks.

Hope this helps.

Take care

Mick

Amex now has a prepaid card that is like a modern travelers check, you might consider. T checks will probably be taken in any bank in the world and are secure but don't have the convenience of a ATM.