In article , kurkku@kolumbus.fi
says...
> Typically travellers cheques are about as good as plastic cards. The margins
> are highly different from one developed country to another. For instance for
> Finnish card holders (assuming that they use Finnish cards which are all
> administered by a company called Luottokunta) ATM withdrawals are not more
> economical over cheques (at least not so that it is relevant anyhow). We
> must pay 2% for the capital PLUS 2,5 euros outside the EU for every
> transaction.
That's a rip-off. In Germany there is a flat fee of 3,7 Euro per
Maestro ATM withdrawal anywhere in the world. If I withdraw cash from a
Citibank ATM - anywhere in the world - there are no fees (my card is
Citibank). In Malaysia for instance I usually go to the Citibank branch
near KLCC to withdraw money. I even avoid using the credit card, as an
ATM withdrawal is cheaper.
> Doesn't sound cheaper than cheques to me. Naturally, the rate
> can be 1-5% more or less favourable in the following day or than today for
> any legal tender. You never know.
To obtain traveller cheques I would have to go to a place where they sell
them and pay cash to buy these traveller cheques, i.e. carry the
equivalent of $3000 cash with me to purchase $3000 of traveller cheques.
That's inconvenient and inflexible, as I have to plan in advance how much
money I will spend. With an ATM card, when you run out of cash, you
simply get to the next ATM. Granted it won't work in a country like Laos
or Cambodia, but many other countries such as for instance Malaysia,
Thailand, Singapore, Indonesia - just to name a few - have a very dense
network of ATMs.
> Those who keep all their money in form of cash are not too clever. This
> money (at least outside most primitive fiscal structures) is most expensive
> and least secure. Actually it isn't secured anyhow.
Just carry the cash you need with you and when you need more go to the
next ATM.
--
Alfred Molon
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