Traveler’s Cheques
Most people arm themselves with at least a few travelers cheques before going on an overseas vaction.
It’s a secure and smart way to transport money with you and if you lose them you can be reimbursed. Most of the time, they’re also pretty easy to change and you can get a *reasonable* rate of exchange into the local currency.
One thing to remember though is to research where the best place to change them will be at your destination.
While traveler’s cheques are accepted at most banks, you might be in for a nasty surprise depending on which one you go to.
Some banks will charge up to a 20% fee to change traveler’s cheques! That’s damn expensive.
Remember to find out where you should change you cheques for the best rate and the lowest commission or you could end up losing a lot of the value of your cheque.
Usually, that’s just a matter of calling the company who issued your traveler’s cheques and asking where they recommend you change them at your destination.
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