Travellers Cheques and AIB

Don't forget that you may be charged a fee when cashing travellers cheques. And if they are in a currency other than € or the host country's one then you will also be charged a forex margin on purchase and/or encashment. I doubt that they will be more cost effective than alternative ways of accessing cash abroad even with the purchase charges waived. But there are also other issues (e.g. security etc.) to be considered.
 
I got some of those from AIB when I was a student.

I remember they were no use when I needed them once most as no place would take any over 100 dollars cheque when someone had been passing around counterfeit ones at the time but apart from that risk they are extremely secure. Just record the numbers elsewhere and your money is safe.
 


They are almost a thing of the past. Beware, that you might not be able to cash them easly in a lot of countries and you will get bad exchange rates.
 
They stopped selling them on the 1st of Jan 07, they will still buy them though.
 
What I do is:

I have a second credit card which I keep a zero balance on.
When you load your cc with cash and withdraw from an atm, you only incur charges if you have a debit balance on the card. I lived like this for several months. You do have the extra stamp duty for the year but if you're going to be away that long, you will save money on changing travellers' cheques or withdraw with your atm card.
 
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