US dollars - currency card or cash/travellers cheques?

[Zyp]

Have a trip to the US coming up in two weeks time but a bit unsure wether to have a currency card or the usual (to me) cash and travellers cheques.

Are the cards as easy as the issuers say they are, or am I going to come unstuck at an ATM and the machine swallow my card?!

Any experiences/recommendations greatly accepted, as I need to sort one out pretty soon.

Thanks.
(Specifically looking at the ICE card)

[Matt..]

I usually do a few hundred £ in dollars and then just use my credit card.
Visa exchange rates are usually quite good (better than the prepaid cards) (though obviously be aware that your card probably charges a percentage on top).
http://www.visaeurope.com/en/cardholders/exchange_...

I have never used travellers cheques, and really dont see any reason to ever use them in the US.

Edited by Matt.. on Monday 13th May 18:12

[Zyp]

Do they charge for using an ATM?

[Matt..]

Zyp said:

Do they charge for using an ATM?

http://www.moneysavingexpert.com/travel/cheap-travel-money

[Zyp]

Thanks

Looks like my current Post Office card is one of the best for spending on, but still a 2.5% or £3 ATM charge.

[steveo3002]

travelers cheques are a bind unless its a mega touristy area

why not take some cash and get cash back at supermarkets and from the atm

[Zyp]

Was planning to take $700 - $1k cash and $1k cheques.

Don't fancy using my cc to get cash out the ATM - so do the shops give cash back as freely as ours do here?

[Mr Trophy]

Zyp said:

Have a trip to the US coming up in two weeks time but a bit unsure wether to have a currency card or the usual (to me) cash and travellers cheques.

Are the cards as easy as the issuers say they are, or am I going to come unstuck at an ATM and the machine swallow my card?!

Any experiences/recommendations greatly accepted, as I need to sort one out pretty soon.

Thanks.
(Specifically looking at the ICE card)

Hello,

I am off on June the 3rd and have been looking very closely to the exchange rate (falling). I went on Saturday and got mine at ICE.

Do you work from home or office based?

[Zyp]

Home based.

Have used ICE before and found the rate very good.

Does this card look decent value?

https://www.iceplc.com/cgi-bin/live/ecommerce.pl?s...

[Matt..]

Zyp said:

Was planning to take $700 - $1k cash and $1k cheques.

Don't fancy using my cc to get cash out the ATM - so do the shops give cash back as freely as ours do here?

Why so much cash?
Can't you just use your credit card for the vast majority of purchases?

[Super Slo Mo]

Zyp said:

Was planning to take $700 - $1k cash and $1k cheques.

Don't fancy using my cc to get cash out the ATM - so do the shops give cash back as freely as ours do here?

I haven't used traveller's cheques since the 90's, I'd forgotten they even exist.

Can't you use your debit card to get cash from an ATM? That's what we do, and have never had an issue. The only time I've had cards declined was in a petrol station in a dodgy area on the outskirts of Vegas.

Cashback's a bit odd in the US, their system seems to be different than ours, in that one card can be either credit or 'chequing', and I've never been able to make it work.

Personally I'd take $500 - $700 and pay for stuff on the fly (meals/fuel) with a debit/credit card, whichever has the lowest fees for international stuff.

[Zyp]

It's been four years since I last went to the US and always paid everything in cash (plus having two kids means pocket money!)

Just feels odd going there with only a bit of cash on me.
I also don't want to get short of cash and then get stuck for charges from an ATM, but also don't want to be vulnerable carrying loads of cash around.

I guess $500-700 cash would suffice.

My debit card (Lloyds) levy a 2.99% + £1 load on purchases, not sure about ATM charges.

Edited by Zyp on Monday 13th May 19:35

[Mr Trophy]

What rate are you getting?

I am away for two weeks and I am taking $2250 (all cash)

Travel Premier have a current rate of 1.517.50

[Matt..]

Mr Trophy said:

What rate are you getting?

I am away for two weeks and I am taking $2250 (all cash)

Travel Premier have a current rate of 1.517.50

Over $2k in cash?
I've never really understood why people take so much cash. Visa exchange rates are good, and you can get credit cards with no charges. Why not just take minimal amounts of cash and use cards? Surely it's somewhat less risky than carrying all that money? Would you go around with all that cash in this country?

[davepoth]

I just use my debit card - I frankly can't be arsed with having too much cash in hand. The exchange rate wasn't noticeably worse - I think I would have lost about $50 total in ATM fees and exchange rate losses against a $1500 spend. I just tip a bit less at restaurants.

[Zyp]

Matt.. said:

Over $2k in cash?
I've never really understood why people take so much cash. Visa exchange rates are good, and you can get credit cards with no charges. Why not just take minimal amounts of cash and use cards? Surely it's somewhat less risky than carrying all that money? Would you go around with all that cash in this country?

That's a valid point about carrying so much cash.

I think I'm swaying more to using the cc for most stuff.
And as I said, my Post Office card doesn't charge for purchases so its really a no brainer.

At the moment the MasterCard exchange rate is about $1.53

[Mr Trophy]

Matt.. said:

Over $2k in cash?
I've never really understood why people take so much cash. Visa exchange rates are good, and you can get credit cards with no charges. Why not just take minimal amounts of cash and use cards? Surely it's somewhat less risky than carrying all that money? Would you go around with all that cash in this country?

Understand the line you're coming from. I've never owned a credit card and do not intend to do so. My debit card uses the current exchange rate plus (I believe) plus £1.50 charge per transaction so it would certainly add up. Personally, having the cash I can see how much I am spending.

[Super Slo Mo]

I'd keep the cash for small transactions, and use a debit/credit card for bigger stuff like meals and entry to attractions, that way the fee doesn't have such a big effect.

Anyway, my Nationwide cards (credit/debit) even with the fee were still cheaper (better exchange rate) than my main bank's card or the rate they gave me for cash.

Either way, on a holiday that's cost a few thousand quid, a few doses of £1.50 is not all that much really.

[S 8 GRN]

Zyp said:

Matt.. said:

Over $2k in cash?
I've never really understood why people take so much cash. Visa exchange rates are good, and you can get credit cards with no charges. Why not just take minimal amounts of cash and use cards? Surely it's somewhat less risky than carrying all that money? Would you go around with all that cash in this country?

That's a valid point about carrying so much cash.

I think I'm swaying more to using the cc for most stuff.
And as I said, my Post Office card doesn't charge for purchases so its really a no brainer.

At the moment the MasterCard exchange rate is about $1.53

I'm heading over in a couple of days and taking £1500 cash plus a post office card. I guess for me cash is a legacy from my folks who always only ever took cash on holiday. I've got $100 bills so takes up little space and I've always found it an easy way to budget rather than keeping a log of all my spending.

[Matt..]

£1,500 in cash?
You people are crazy!