My wife and her female friends are planning trips abroad and asking all sorts of questions and they expect me to know everything. They are now asking about travelers’ checks, if they still exist, and how much they cost.
Although traveler’s checks are not as common as they once were, they are still accessible. You might find them available for purchase at select banks, credit unions, and travel-related service providers.
Travelers’ checks are a secure way to carry money because they can be refunded if lost or stolen. American Express and Visa are two major companies that still issue travelers’ checks denominated in foreign currencies. The fees to purchase them are usually 1-2% of the total amount. For example, $500 worth of Euro travelers’ checks from American Express might cost around $505.