Travelers Checks, what has replaced them besides Gift Cards?

[Doug_FL]

In the past, I have used TCs (Travelers Checks) and credit cards, when traveling or RVing. Many places no longer accept TCs,
the trend seems to be headed toward GCs (Gift Cards).

American Exp, Visa, Master Card and retailers like Walmart issue these cards. There's a lot of fine print in their agreements.
In the past, I would take a lot more than I was planning to spend and then just put it back in my bank after the trip. That can't
be done with GCs. It doesn't seem that simple any more.

Does anyone have any ideas on the pro and cons of these new ways of paying for things while away from home? GC can't get you
cash in a hurry like TC can.

What has American Express created as a product, that is most like TC? I guess desktop publishing has killed TC. Along with bank ckecks
and maybe other things, I don't know about.

 

[SeilerBird]

Walmart and many other places sell refillable VISA cards.

http://usa.visa.com/personal/cards/prepaid/prepaid-card.html

 

[Jeff]

Credit cards and debit (ATM) cards have met our needs where ever we have traveled.

 

[warsw]

I haven't done a lot of traveling but have been all over the western states as far East as Colorado and have never had any trouble just using my Visa. Has this changed sense last summer? We are heading out of state in January and was planning to use the Visa again.

 

[taoshum]

Credit Union ATM cards have low fees and will allow you to get up to $200 and sometimes as much as $400 cash every day.

 

[eliallen]

No more TC for me. CC the way to go, more secure than debit cards. Just pay the full balance each months.

 

[BruceinFL]

We have run across a very few places that are cash only...mostly restaurants. Used to take TCs but hardly ever used them. Now it's credit cards and ATMs when cash needed.

 

[Tom]

I've used credit cards for both domestic and international travel for 40 years.; For a long time, they provided the lowest currency exchange rates. The only time I've needed to use traveler's checks was when I needed cash at my destination; I'd usually cash them at a bank, or occasionally at an airport on arrival, although this wasn't always the cheapest option. I still have unused (uncashed) traveler's checks from 30+ years ago (they never expire), but maybe I should cash them  ???

 

[John From Detroit]

The "Traveler's check' Of the Visa/Master Card age is the Debit card

These come in two by several types.. The several is the brand name (I do not care for Amrican Express, different rules but far as I know the others are all "Same old same old"

Type 1: True debit card, tied to your bank account,  Same as a check but it's plastic not paper, You swipe, the store treats it like a credit card,  The bank like a check.

Type 2: Gift card or pre-paid card... Same as above but it has it's own special bank account.  The store however treats it the same as type 1.

They do still issue Traveler's checks, but it's getting hard to cash them as more and more people look at them and say "What is this?"

 

[braindead]

No more TC for me. CC the way to go, more secure than debit cards. Just pay the full balance each months.

Credit Cards are not really more secure, your fraud liability is limited though.  PIN/Debit cards have no fraud protections (although maybe some banks do?) if someone gets your debit card info and PIN they can take your money and you will likely have no recourse.

I would strongly recommend against using PIN/Debit anywhere except an ATM and then you must still be careful.  There are a lot of new tricks the thieves are using to get your ATM information.

And watch the details in prepaid credit cards, some have really high per transaction fees.

I could go on..and on.. about this as I write card payment processing software (among other things), however the discussion would quickly get off track ;-)

 

[4ducksrus]

When traveling to Mexico a few months ago my bank representative recommended getting a second "ATM" card just for travel.  I was able to put what I thought I'd That way if for some reason you lose it, or someone hacks it, they'd only be able to get into those funds.  I was also able to go online and transfer funds if I needed more on the card.  Worked for me!  Just my opinion...Mikie

 

[eliallen]

Credit Cards are not really more secure, your fraud liability is limited though.  PIN/Debit cards have no fraud protections (although maybe some banks do?) if someone gets your debit card info and PIN they can take your money and you will likely have no recourse.

You are right, I just feel more secure with the fraud liability .

 

[NY_Dutch]

Most banks now supply similar protections for their debit cards, usually issued by one of the major CC companies, as with their credit cards.

 

[braindead]

Most banks now supply similar protections for their debit cards, usually issued by one of the major CC companies, as with their credit cards.

Debit cards that support being used as a CC have the same federally mandated fraud protection when used as a credit card only.  HOWEVER, if you use it as a PIN/Debit card a completely different set of rules apply.  Make sure to read the fine print.

 

[odie1234]

Most banks now supply similar protections for their debit cards, usually issued by one of the major CC companies, as with their credit cards.

True, the problem comes from the administrative steps taken to replace the stolen funds. We had a debit card compromised (we never used it and still the pin, etc was stolen). It was tied to a small balance account that was quickly drained on a weekend. We were notified Monday am by the bank, and they started to replace the funds without question. It took until Wednesday afternoon until the money was available.  Not a big deal for us as we have other fund sources, but if the card was tied to a main account it could be a problem for many people. Compromised credit cards typically take less than 24 hours for replacements.

DW does a lot of foreign and domestic travel for her work. She tells me that most places will not accept traveler's checks today and, in larger cities, some places frown on cash. We typically use cc for expenses, except we use cash at restaurants.

 

[Jeff]

spent in a month paid for a few lobsters!

 

[braindead]

True, the problem comes from the administrative steps taken to replace the stolen funds. We had a debit card compromised (we never used it and still the pin, etc was stolen). It was tied to a small balance account that was quickly drained on a weekend. We were notified Monday am by the bank, and they started to replace the funds without question. It took until Wednesday afternoon until the money was available.  Not a big deal for us as we have other fund sources, but if the card was tied to a main account it could be a problem for many people. Compromised credit cards typically take less than 24 hours for replacements.

DW does a lot of foreign and domestic travel for her work. She tells me that most places will not accept traveler's checks today and, in larger cities, some places frown on cash. We typically use cc for expenses, except we use cash at restaurants.

Your the first person I've heard of who actually got the money back on a compromised debit card.  However it's been years since I've been involved in that..

Good call on your part for using cash at restaurants.  Any time your card has to be taken somewhere else to charge it, there is HUGE opportunity for someone to get your information.  And there is very little risk as people who actually get the card numbers sell them to another party who sells them to someone else who will actually use the card.  Makes it really hard to actually track down and prosecute..

Also a good call on having a debit card linked to an account without much in it.

 

[Steve & Linda]

Thankfully, I assume, most of you don't live or file your taxes in SC where residents are learning their SS #s and bank account #s were hacked. To make matters worse, if you had Nationwide insurance in the state of SC that information was also hacked. This was a double whammy foe us and we have been working with our bank to 'fix' what we can after learning one of our accounts was hit while we were traveling East Coast this Fall b4 we were told by state we'd been compromised. You can be sure I watch our account like a hawk on prey.  So far everything we lost has been replaced by the bank, and once they started looking identified 2 incidents I'd missed.

 

[Lady Fitzgerald]

Debit cards that support being used as a CC have the same federally mandated fraud protection when used as a credit card only.  HOWEVER, if you use it as a PIN/Debit card a completely different set of rules apply.  Make sure to read the fine print.

Depends on the financial institution. Mine provides the same protections for all debit card transactions as they do for credit cards. Larger credit uinions are the most like to extend the full protections to debit cards. As you said, though, read the fine print.

I personally prefer devbit cards because they show up in my account sooner and I don't have to remember to pay them off.

 

[braindead]

Thankfully, I assume, most of you don't live or file your taxes in SC where residents are learning their SS #s and bank account #s were hacked. To make matters worse, if you had Nationwide insurance in the state of SC that information was also hacked. This was a double whammy foe us and we have been working with our bank to 'fix' what we can after learning one of our accounts was hit while we were traveling East Coast this Fall b4 we were told by state we'd been compromised. You can be sure I watch our account like a hawk on prey.  So far everything we lost has been replaced by the bank, and once they started looking identified 2 incidents I'd missed.

That's terrible.  I hope you get things straightened out. 

Sadly their will be no consequences for the people who failed to protect your information, so things will not likely get any better anytime soon.