[Idyllchat] Switzerland - American Express Traveler Checks

[Jyares@aol.com]

Ed:

Pete is right--don't do travelers checks, most particularly 
foreign-currency-denominated checks.  Pete's advice to go ATM is 100 percent 
correct.

First off, you'll most likely pay a fee to buy the checks.

Then, the conversion rate from $US to SwFrs with be at the retail rate, 
probably costing you three dollars for every $US 100 you buy.  Then, when you 
try to spend them, you may be charged another fee--a friend told me that on a 
recent trip, he went to Amex to cash some Amex trav chex and was charged a 
transaction fee.  And then, any unused checks must be converted back into 
$US, and by the time you have the money back in your checking account, you 
could have paid 7 to 10 percent round trip conversion premium.

As Pete indicates, far better to use your ATM card.  They are everywhere!  
All you need is your card and a four numeric digit PIN--I have yet to see an 
alpha keypad.  You will get your money instantly, 7/24, and the only cost to 
you will be the normal wholesale bank-to-bank conversion fee (about one 
percent) and whatever access fee your bank charges you for using another 
bank's ATM.  On our last trip, I figure that we paid about one percent for 
conversion and our local bank charged us a buck per draw.  Much, much better.

Draw your cash from an ATM as you need it, and KEEP IT IN YOUR MONEY BELT.  

Nonetheless, I would also take with me a thou or so of US$ no-cost trav 
checks from AAA , just in case.  You can get two-party checks, which means 
that either you or your significant other can cash them.  What you don't use 
goes back into your checking account at no net cost.  Meanwhile, I don't 
remember the town's name, but I'll never forget looking on as the guy in 
front of me had his ATM card eaten by the machine.  It was not a pretty 
sight. 

Regards from Jerry