Pay no international transaction fees or foreign currency conversion charges with travel credit cards. Credit cards have become their only financial tool by default.

No doubt, they do serve their purpose because carrying just one card against a bundle of currency notes is safer and more convenient. However, there is another financial tool that offers you as much, if not more than the benefits of a credit card - Travellers Cheques.

You will change your perception about credit cards after reading the following comparison of travellers cheques vs credit cards.

Travellers cheques v Pre paid card - Orlando Forum - TripAdvisor

Travellers cheques have a major advantage as they require an ID to cash them in. Picture this, even if someone succeeds in stealing your traveller's cheques, the thief won't possibly cash them without the appropriate identification? It's almost impossible for the thief to come up with a duplicate ID in such a short time. Credit cards on the other hand do not require any identification. In fact, credit card companies advise their staff not to ask for your identification when you give them your card to swipe.

Of course, these companies are just trying to make it quicker and easier for you to transact money but when the card falls into the wrong hands this comfort can prove a disaster.

The next question that might come to your mind is, what if I lose my travellers cheques while travelling? There is an immediate solution to this situation.

Inform your company about your missing travellers cheques and you will receive replacement cheques within 24 hours of your request. Don't worry, with travellers cheques you will not get financially stranded because of this guarantee. Credit cards, on the other hand, pose more risk.

Yes, you get a replacement card, but generally speaking, you will have to wait a long time before you get one. These replacement services are usually accompanied with delays and various setbacks. And when you're travelling, this can quickly become a nuisance, especially if you are due on a flight. Another huge advantage of travellers cheques is that you can convert them into many currencies and denominations and there are no transaction charges.

The charge is paid when you apply for the cheques. When you begin your journey, your travellers cheques are automatically converted into the currency of your destination, thereby saving you considerable transaction charges.

Credit cards don't offer this feature and as a result they can prove quite costly. When you try to get cash through your card in a foreign country, you have to pay transaction charges. Foreign transaction fees can eat up a lot of your credit balance.

And when you're travelling on a limited budget, it can sting you really nasty. Overall, travellers cheques are a little cheaper to use than credit cards. Whether you travel with a card or cheques is really your choice. Some people prefer one of the two. As long as you keep the costs of cards in mind and some of the limitations of cheques, you will make the right choice for your needs. When seeking travel money options, it's smart to review which credit or debit cards don't charge foreign transaction fees.

You can purchase a prepaid travel money card before you leave and load it up with the currency of the country you'll be visiting.

Read our responses to common credit cards and travel money questions. This will give you the information you need if you have the same question in mind. Credit cards with baggage, money and documentation cover can be very handy for travellers.

Whether you travel frequently or only take a trip once in a blue moon, having a credit card that offers this kind of cover can give you peace of mind when you do decide to venture travel.

There is nothing more convenient than having a credit card. One of the nice things is that you will never have to carry bundles of cash again. However, there are some pitfalls that you should look out for so you do not get stuck in a credit card mess.

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By signing up, you agree to the finder. Things You Need to Know About Using Travellers Cheques Versus Credit Cards When Travelling 23 December Tourists and travellers generally can't think of an alternative to a credit card when they travel.

ID Requirement Travellers cheques have a major advantage as they require an ID to cash them in. Replacement The next question that might come to your mind is, what if I lose my travellers cheques while travelling?

Flexibility Another huge advantage of travellers cheques is that you can convert them into many currencies and denominations and there are no transaction charges. Back to top You might also be interested in. Was this content helpful to you? Which Airlines Are a Part of the Velocity Rewards Program? Related Posts How to avoid foreign currency exchange fees when travelling When seeking travel money options, it's smart to review which credit or debit cards don't charge foreign transaction fees.

What to look for when shopping for a credit card Here are few things you need to consider when choosing the right credit card for you. Need Answers for your Credit Card and Travel Money Questions?

Credit cards with baggage, money and documentation cover Credit cards with baggage, money and documentation cover can be very handy for travellers. Credit Card Offers Learn about our information service. American Express Velocity Platinum Card Interest rate ANZ Platinum Credit Card - Exclusive Offer Interest rate Virgin Australia Velocity Flyer Card - Exclusive Offer Interest rate George Vertigo Platinum Interest rate Ask a Question Click here to cancel reply.

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