Post: #1

I have never used them before but some people are telling me I should get them for my upcomming trip. Anyone know if they are widely accepted in Colombia (Caribbean Coast)?

Post: #2

(03-31-2011 11:34 AM)Dash Global Wrote:  I have never used them before but some people are telling me I should get them for my upcomming trip. Anyone know if they are widely accepted in Colombia (Caribbean Coast)?

They may be accepted but I always thought and read that they have almost gone the way of the dinosaur. Is there a particular reason you would like to use them opposed to credit/debit card?

Post: #3

I think im just gonna use my debit card. Hopefully I dont get it stolen lol Prob bring 200 in Traverlers checks just in case of emergency.

Post: #4

Quote:but some people are telling me I should get them for my upcomming trip

Did they also tell you to sew silver coins in the lining of your jackets for when you run out of currency? Or maybe to hide money in your CDROM Discman?

All kidding aside, with the advent of plastic, there is no use for travelers checks.

Post: #5

No one uses them any more and you'll find it a hassle to cash them. Just have a second bank card or credit card you can use if your debit card gets lost or stolen. I always carry around $100 stashed away in my wallet for emergencies as well. Not great if you get mugged but been a life saver a few times in South America when my debit card wouldn't work or when someone cloned my card....three times!

Post: #6

Go with Capital One Debit or Credit Card...They don't charge any foreign transaction fees which can rack up pretty quickly! I use it all the time since I'm traveling abroad so much!

Post: #7

(03-31-2011 01:42 PM)InternationalSwagger Wrote:  Go with Capital One Debit or Credit Card...They don't charge any foreign transaction fees which can rack up pretty quickly! I use it all the time since I'm traveling abroad so much!

Do you just have an online account bc there is no branches in NC or GA. Do you use another debit card while in GA or is free transactions at other ATMS here as well as abroad?

Post: #8

Citibank looks like a good option. Branches all over the world. Might just open an account with them.

Post: #9

You may want to use a debit card from a bank account that is not your "main" account. Therefore, you don't have multiple credit/debit card numbers floating all over the place. Your main card or AMEX card can either be at the safe (in your room) or on you in a hidden stash wallet.

One of my boys use those pre-paid debits on trips. It's linked to his "bigger" accounts so he just transfers money to that as needed. If the debit is stolen, he knows he won't lose a lot.

Post: #10

Dash-

"I think im just gonna use my debit card"

Bring multiple in case you lose one.

And don't forget to call them to let you know you are going to be in Colombia.

The last thing you want are those corporate monkeys to freeze your accounts.

------

Roosh's silver coin idea actually isn't half bad.

You can also bring a bag full of diamonds.

Post: #11

Prepaid credit cards are another option. Use a $500 limit and just add money as needed. If someone jacks your card it'll minimize the damage than say using your main bank accounts. Orchard has "platinum" cards that'll make you look like a big baller, plus they report to the credit agencies if you need to build credit in the meantime. The last time I used travelers checks was '94.

Post: #12

(03-31-2011 11:34 AM)Dash Global Wrote:  I have never used them before but some people are telling me I should get them for my upcomming trip.

You should not. If they get stolen with all your belongings (like your passport), they will get cashed - unless you keep the serials, and promptly (which means within minutes!) report them. Which, let's admit, doesn't happen often. Combine it with the hassle of cashing the checks (carrying passport, going to one of few banks who do that, sometime paying a fee) and you'll see no reasons for ever carrying them.

Post: #13

(03-31-2011 02:23 PM)Dash Global Wrote:  Citibank looks like a good option. Branches all over the world. Might just open an account with them.

I can wholeheartedly recommend Charles Schwab. I have a checking and savings account with them. They refund all ATM fees. I've used them in the US, Central America and Colombia with no problems. Here's a link to their checking account sign-up:

http://content.schwab.com/m/q310/schwab_...7C-02.html

Post: #14

Travelers checks, Dash? Yo, don't forget your cell phone...
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Post: #15

(03-31-2011 07:14 PM)emh Wrote:  

(03-31-2011 02:23 PM)Dash Global Wrote:  Citibank looks like a good option. Branches all over the world. Might just open an account with them.

I can wholeheartedly recommend Charles Schwab. I have a checking and savings account with them. They refund all ATM fees. I've used them in the US, Central America and Colombia with no problems. Here's a link to their checking account sign-up:

http://content.schwab.com/m/q310/schwab_...7C-02.html

Seems like a good deal if you dont pay any atm fees ANYWHERE!

I need to figure which bank (checking/saving) is the best for international use as well as at home.

Charles Schwab is looking like thr front runner.....

Post: #16

So it looks like these are the best banks for online banking with no fees for international withdraw.

IGN Direct
CapitalOne
Charles Schwab
ETrade

Citibank has branches in every major city abroad so its a good option also.

Post: #17

(03-31-2011 09:38 PM)Dash Global Wrote:  

(03-31-2011 07:14 PM)emh Wrote:  

(03-31-2011 02:23 PM)Dash Global Wrote:  Citibank looks like a good option. Branches all over the world. Might just open an account with them.

I can wholeheartedly recommend Charles Schwab. I have a checking and savings account with them. They refund all ATM fees. I've used them in the US, Central America and Colombia with no problems. Here's a link to their checking account sign-up:

http://content.schwab.com/m/q310/schwab_...7C-02.html

Seems like a good deal if you dont pay any atm fees ANYWHERE!

I need to figure which bank (checking/saving) is the best for international use as well as at home.

Charles Schwab is looking like thr front runner.....

Yeah I've been pleased with them. Very helpful customer service. They do make you open a brokerage account in order to get the checking account though you don't have to use the brokerage account. You can also open a savings account which will give you a 2nd ATM card to use and you can transfer money between the savings and checking accounts.

BTW, you do actually pay the fees, but they refund them at the end of the month.

Post: #18

(03-31-2011 10:24 PM)Dash Global Wrote:  So it looks like these are the best banks for online banking with no fees for international withdraw.

IGN Direct
CapitalOne
Charles Schwab
ETrade

Citibank has branches in every major city abroad so its a good option also.

One thing to keep in mind is that both Capital One and Charles Schwab give you paper checks along with your checking account. I don't write checks often but every once in a while they're useful/necessary. Neither ING or ETrade give you paper checks.

I do like Capital One for my credit card (haven't used their checking account), particularly for foreign credit card transactions. They're generally known as the best credit card for travelers. (Unfortunately I'm in Colombia right now and my card expired a few months ago).

Post: #19

(03-31-2011 10:24 PM)Dash Global Wrote:  So it looks like these are the best banks for online banking with no fees for international withdraw.

IGN Direct
CapitalOne
Charles Schwab
ETrade

Citibank has branches in every major city abroad so its a good option also.

Don't use Citibank. Although they have branches all over, they charge A LOT. Lots of banks charge $3 per transaction plus 3%, plus you'll likely get hit by the atm itself, just like in the U.S. So taking out $1000 can total over $50 in atm fees!!!

You'll still get hit by some charges with Capital One or other cards, but it won't cost you $15 to take out $300!!

Check out this link, although i don't know how up to date it is:
http://www.flyerguide.com/wiki/index.php...n_Exchange

You may need traveler's check in some situations. Here's a few reasons why:

1. Lots of foreign atms run out of money, particularly on weekends.
2. Power outages are quite common in the northeast of brazil and can occur regularly even in Sao Paulo and Rio.
3. If you go backpacking, sometimes you'll can end up in the middle of nowhere= no atms
4. Risk of getting your atm card stolen= good to have a few hundred in traveler's check as back up.
5. If the atm doesn't accept your card, or doesn't work for some reason and you're with a DTF chick with no cash!!

International credit cards also charge very high fees too. BTW, Capital One charges $2 per atm withdrawal, but no other additional charges, but this is actually very low.

For example: $300 with Bank of America= $17
3%= $9
$5 transaction fee
$3 atm fee

Post: #20

(03-31-2011 10:24 PM)Dash Global Wrote:  So it looks like these are the best banks for online banking with no fees for international withdraw.

IGN Direct
CapitalOne
Charles Schwab
ETrade

Citibank has branches in every major city abroad so its a good option also.

Don't use Citibank. Although they have branches all over, they charge A LOT. Lots of banks charge $3 per transaction plus 3%, plus you'll likely get hit by the atm itself, just like in the U.S. So taking out $1000 can total over $50 in atm fees!!!

You'll still get hit by some charges with Capital One or other cards, but it won't cost you $15 to take out $300!!

Check out this link, although i don't know how up to date it is:
http://www.flyerguide.com/wiki/index.php...n_Exchange

You may need traveler's check in some situations. Here's a few reasons why:

1. Lots of foreign atms run out of money, particularly on weekends.
2. Power outages are quite common in the northeast of brazil and can occur regularly even in Sao Paulo and Rio.
3. If you go backpacking, sometimes you'll can end up in the middle of nowhere= no atms
4. Risk of getting your atm card stolen= good to have a few hundred in traveler's check as back up.
5. If the atm doesn't accept your card, or doesn't work for some reason and you're with a DTF chick with no cash!!

International credit cards also charge very high fees too. BTW, Capital One actually charges $2 per atm withdrawal, but that is still very reasonable. For example Bank of America charges $5!! And lots of banks charge a fee plus 3%!!

Post: #21

(03-31-2011 11:39 PM)whosyourdaddy Wrote:  

(03-31-2011 10:24 PM)Dash Global Wrote:  So it looks like these are the best banks for online banking with no fees for international withdraw.

IGN Direct
CapitalOne
Charles Schwab
ETrade

Citibank has branches in every major city abroad so its a good option also.

Don't use Citibank. Although they have branches all over, they charge A LOT. Lots of banks charge $3 per transaction plus 3%, plus you'll likely get hit by the atm itself, just like in the U.S. So taking out $1000 can total over $50 in atm fees!!!

You'll still get hit by some charges with Capital One or other cards, but it won't cost you $15 to take out $300!!

Check out this link, although i don't know how up to date it is:
http://www.flyerguide.com/wiki/index.php...n_Exchange

You may need traveler's check in some situations. Here's a few reasons why:

1. Lots of foreign atms run out of money, particularly on weekends.
2. Power outages are quite common in the northeast of brazil and can occur regularly even in Sao Paulo and Rio.
3. If you go backpacking, sometimes you'll can end up in the middle of nowhere= no atms
4. Risk of getting your atm card stolen= good to have a few hundred in traveler's check as back up.
5. If the atm doesn't accept your card, or doesn't work for some reason and you're with a DTF chick with no cash!!

International credit cards also charge very high fees too. BTW, Capital One charges $2 per atm withdrawal, but no other additional charges, but this is actually very low.

For example: $300 with Bank of America= $17
3%= $9
$5 transaction fee
$3 atm fee

You make some valid points in 1-5. Other things that can happen include forgetting your PIN number (happened to me in the Philippines) and a temporary connection problem between the local banks and your US bank (happened to me in Colombia).

That being said, I still prefer bringing US cash for emergencies. I've only met two people who brought travelers checks on their travels and neither were happy with the experience.

Post: #22

(03-31-2011 11:39 PM)whosyourdaddy Wrote:  

(03-31-2011 10:24 PM)Dash Global Wrote:  So it looks like these are the best banks for online banking with no fees for international withdraw.

IGN Direct
CapitalOne
Charles Schwab
ETrade

Citibank has branches in every major city abroad so its a good option also.

Don't use Citibank. Although they have branches all over, they charge A LOT. Lots of banks charge $3 per transaction plus 3%, plus you'll likely get hit by the atm itself, just like in the U.S. So taking out $1000 can total over $50 in atm fees!!!

You'll still get hit by some charges with Capital One or other cards, but it won't cost you $15 to take out $300!!

Check out this link, although i don't know how up to date it is:
http://www.flyerguide.com/wiki/index.php...n_Exchange

You may need traveler's check in some situations. Here's a few reasons why:

1. Lots of foreign atms run out of money, particularly on weekends.
2. Power outages are quite common in the northeast of brazil and can occur regularly even in Sao Paulo and Rio.
3. If you go backpacking, sometimes you'll can end up in the middle of nowhere= no atms
4. Risk of getting your atm card stolen= good to have a few hundred in traveler's check as back up.
5. If the atm doesn't accept your card, or doesn't work for some reason and you're with a DTF chick with no cash!!

International credit cards also charge very high fees too. BTW, Capital One charges $2 per atm withdrawal, but no other additional charges, but this is actually very low.

For example: $300 with Bank of America= $17
3%= $9
$5 transaction fee
$3 atm fee

Citibank charges to use THEIR OWN atm machines?!?

Post: #23

Quote:You may need traveler's check in some situations. Here's a few reasons why:

1. Lots of foreign atms run out of money, particularly on weekends.
2. Power outages are quite common in the northeast of brazil and can occur regularly even in Sao Paulo and Rio.
3. If you go backpacking, sometimes you'll can end up in the middle of nowhere= no atms
4. Risk of getting your atm card stolen= good to have a few hundred in traveler's check as back up.
5. If the atm doesn't accept your card, or doesn't work for some reason and you're with a DTF chick with no cash!!p

If it's the weekend then the banks will be closed so you won't be able to cash your travellers cheques. If your in the middle of nowhere and there's no atms you aren't likely to find a bank that will change your traveller cheques. You can have cash as back up instead of cheques and just hide it somewhere or stash it in your wallet and only use as an emergency. If you've picked up a chick, the last thing you want to be doing is hunting round the city looking for those rare places that still cash travellers cheques because she'll get bored, again having some emergency cash solves this problem or second card.

Post: #24

(03-31-2011 11:39 PM)whosyourdaddy Wrote:  Don't use Citibank. Although they have branches all over, they charge A LOT. Lots of banks charge $3 per transaction plus 3%, plus you'll likely get hit by the atm itself, just like in the U.S. So taking out $1000 can total over $50 in atm fees!!!

Are you talking about DEBET cards? The 3% number look more like cash advance from a credit card.

Quote:1. Lots of foreign atms run out of money, particularly on weekends.

Never seen that. Maybe something like late Sat night, but then it is irrelevant as you cannot exchange traveler checks at that time anyway.

Quote:2. Power outages are quite common in the northeast of brazil and can occur regularly even in Sao Paulo and Rio.

I doubt they'll exchange your traveler checks without checking them in the computer. Too many fakes around.

Quote:3. If you go backpacking, sometimes you'll can end up in the middle of nowhere= no atms

From my experience if it is such a shithole that there is no ATMs or banks around (you can withdraw money in a bank by teller, ATM is not required), you won't be able to cash the traveler check either.

Quote:4. Risk of getting your atm card stolen= good to have a few hundred in traveler's check as back up.

Have more than one ATM card, and have CASH as back up.

Quote:5. If the atm doesn't accept your card, or doesn't work for some reason and you're with a DTF chick with no cash!!

As I said, from my experience the requirements for ATM withdrawal are significantly lower than for cashing the traveler check, and typically if you cannot withdraw money from ATM, or get them from bank, you won't be able to cash the traveler check either.

Quote:International credit cards also charge very high fees too. BTW, Capital One charges $2 per atm withdrawal, but no other additional charges, but this is actually very low.

Generally you should not use credit cards for any purchase outside the USA unless your expenses are reimbursed. Use a debit card, there you will only lose on conversion rate, but not too much.

Quote:For example: $300 with Bank of America= $17

For a DEBET card? I always only paid $5, which is ATM fee. There are NO fees for cash withdrawal, only for purchases. However $5 is not charged for purchases.

Post: #25

gringoed recommended getting a Schwab Brokerage account for an ATM card that comes with no finance charges or fees. I've been using it for 3 months and it works fine. I also have two backup ATM cards just in case, one with Everbank, which charges a 2% foreign fee, and Capital One, which charges 3%.

I used a traveler check once in 2001 when I went on spring break to miami.