Traveler's Checks

[k9kris]

What's the best way to spend money at WDW? I had thought about traveler's checks, for security reasons, but are they really neccessary? I also thought about using my debit card or a credit card. What about the ATMs accross the parks and resorts? How much do they charge for withdawls and is it a good idea to carry a lot of cash with you?

What do you guys think I should do? Thanks! :wave:

 

[tiggerlover1971]

I use travelers checks and each week I change cash that I have left over from the week into disney dollars at a local disney store so I have extra money to spend.It also makes me feel like I got something for free because I used the disney dollars that I saved up througout the year I also bring some cash with me not alot though for tolls since I live three hrs away and drive.

 

[Worldphile]

Originally posted by k9kris
What's the best way to spend money at WDW? I had thought about traveler's checks, for security reasons, but are they really neccessary? I also thought about using my debit card or a credit card. What about the ATMs accross the parks and resorts? How much do they charge for withdawls and is it a good idea to carry a lot of cash with you?

What do you guys think I should do? Thanks! :wave:

If you are staying on property, you can charge to your room, which is what we always do. That way, I just pay with a credit card on checkout. Alternatively, you can pay with a credit card at all of the shops and restaurants.

When I was there last Dec., there were ATMs in all the parks operated by SunTrust bank. I'm not sure what they charged, but I don't think it was terribly exorbinant. Somewhere in the $1.50-$2.50 range (not including what your bank may charge you for using a "foreign" ATM.)

If your are converting other currency (like British pounds or Canadian dollars) into US dollars, the ATM and credit card will give you the best exchange rate.

 

[Jodigrl328]

I always use travelers checks. They are very wideley accepted and if lost it is very very easy to get a refund.

Using your room key to charge is also a good idea, but I don't use credit cards much anymore so it doesnt work for me.

Each paycheck I buy some travelers checks. It has worked really well for me. And if you are an AAA member you can get your Travelers checks at no additional cost (most banks charge a fee).

 

[CAPTAIN HOOK]

Re: Re: Traveler's Checks

Originally posted by Worldphile
If your are converting other currency (like British pounds or Canadian dollars) into US dollars, the ATM and credit card will give you the best exchange rate.

I would disagree with that. When using a "British banks" credit card in the US you are charged at the exchange rate which applies on the day the transaction is debited to your account. You are ALSO charged a % handling charge - this makes the transaction very expensive.
We always use $ travellers cheques as they have already been purchased at an agreed exchange rate.

 

[Worldphile]

Re: Re: Re: Traveler's Checks

Originally posted by CAPTAIN HOOK

I would disagree with that. When using a "British banks" credit card in the US you are charged at the exchange rate which applies on the day the transaction is debited to your account. You are ALSO charged a % handling charge - this makes the transaction very expensive.
We always use $ travellers cheques as they have already been purchased at an agreed exchange rate.

Wow. I stand corrected. I've used my ATM card in England, Ireland and Canada and never been charged an additional fee. I thought the reverse would be true as well, but I guess not.

That is really kind of a screw job. I hope American banks don't learn about that fee. :lookaroun

 

[Juggler]

We always use Travellers Cheques. If I have a few cheques stolen while out in the parks they may get a couple of hundred dollars, which I would be upset about, but not as upset as I would be if my credit card been stolen! In the wrong hands just think of the damage they could do.

That is unless my wife had already blown the credit limit on it again! :lol:

 

[Worldphile]

Originally posted by Juggler
We always use Travellers Cheques. If I have a few cheques stolen while out in the parks they may get a couple of hundred dollars, which I would be upset about, but not as upset as I would be if my credit card been stolen! In the wrong hands just think of the damage they could do.

That is unless my wife had already blown the credit limit on it again! :lol:

In the US, you are only liable for the first $50.00 charged if your credit card is lost or stolen (and if you complain loud enough, you can get that waived as well). Debit cards have different limits, but I'm not sure what they are.

I guess my order of preference would be to use a credit card/debit card first, then traveller's checks, and then carry a big wad of cash as a last resort.

WDW is pretty safe, but lost/stolen cash can never be recovered, so that would be my last choice when vacationing.

 

[HauntedPirate]

My wife and I typically bring traveller's checks, but we try to put most of our purchases on our room card. We bring some traveller's checks, so we can get food outside WDW, and for things like laundry, snack carts, etc. I've never used an ATM at WDW, and probably never will.

We don't usually go to the parks with anything but our room cards and sometimes traveller's checks/small amt. of cash. Less to carry, less to get lost/stolen.

 

[Pumbas Nakasak]

Re: Re: Re: Traveler's Checks

Originally posted by CAPTAIN HOOK

I would disagree with that. When using a "British banks" credit card in the US you are charged at the exchange rate which applies on the day the transaction is debited to your account. You are ALSO charged a % handling charge - this makes the transaction very expensive.
We always use $ travellers cheques as they have already been purchased at an agreed exchange rate.

Ive only ever had this happen on my debit card and the additional fee was not far short of 20%.
Ive never had any fees with a credit card but ive had a few bum exchange rates though. Did not too bad with my Disney bookings this month as it appears i got the buisness exchange rate as opposed to the tourist,

 

[Piglet]

Re: Re: Re: Re: Traveler's Checks

Originally posted by happy snapper

Ive only ever had this happen on my debit card and the additional fee was not far short of 20%.
Ive never had any fees with a credit card but ive had a few bum exchange rates though. Did not too bad with my Disney bookings this month as it appears i got the buisness exchange rate as opposed to the tourist,

This is because some credit card companies do not show a "fee" as such, but give you a worse exchange rate than the current one. This is probably so you don't realise that you are being charged!

 

[Pumbas Nakasak]

Re: Re: Re: Re: Re: Traveler's Checks

Originally posted by Piglet


This is because some credit card companies do not show a "fee" as such, but give you a worse exchange rate than the current one. This is probably so you don't realise that you are being charged!

No i got $1.52 when the best High St was $1.50 but last year i got stiffed, it was really crap. Itll be intersting to see next months cause the rates gone down and ive just bought tickets.

 

[cymbaldiva]

DH and I use traveler's checks - great for those of us who don't use credit cards - no interest to pay off!

 

[jmarc63]

Re: Re: Re: Re: Traveler's Checks

Originally posted by Worldphile


Wow. I stand corrected. I've used my ATM card in England, Ireland and Canada and never been charged an additional fee. I thought the reverse would be true as well, but I guess not.

That is really kind of a screw job. I hope American banks don't learn about that fee. :lookaroun

Banks charge you fee for everything these days unless your a customer of that bank. I needed cash for an emergency and didn't have enough in my checking account to cash my paycheck, So I went to the banK of my employers Payroll account and was charged a $5.00 fee to cash my paycheck. I wasn't happy, I have done it in years past in a pinch but you cant do it anymore.

 

[Talsonic]

Originally posted by cymbaldiva
DH and I use traveler's checks - great for those of us who don't use credit cards - no interest to pay off!

There is no interest to pay on a credit card if you pay your debt in full before the end of the grace period. I have used a Mastercard for over 25 years and have never paid a fee to them. As a matter of fact, they pay me to use the card! I got a $200.00 credit from Mastercard last month. I think they call it "The Rewards Program".

 

[cymbaldiva]

Nice in theory, but I generally don't have enough $$ to pay off a charged WDW trip in one fell swoop! Guess all that Disney food has left me cash-poor! :lol:

 

[Talsonic]

Even WDW is not worth over extended debt.

Originally posted by cymbaldiva
Nice in theory, but I generally don't have enough $$ to pay off a charged WDW trip in one fell swoop! Guess all that Disney food has left me cash-poor! :lol:

It's just like going to a casino. Never bet more money than you can afford to lose. Or to quote a famous cowboy, "A man's got to know his limitations".:lol:

 

[Pioneer Hall]

We bring Travelers cheques with us because they can be replaced if stolen. It is like having cash, with the reassurance that it can be replaced if stolen or lost.

 

[cymbaldiva]

Re: Even WDW is not worth over extended debt.

Originally posted by Talsonic


It's just like going to a casino. Never bet more money than you can afford to lose. Or to quote a famous cowboy, "A man's got to know his limitations".:lol:

Well no kidding! That's why we use traveler's checks!