AAA has AMEX TC's in € and £ denominations. The discount rate is very small. Under 2%, and sometimes close to 1%.

There is no charge for the TC's, and they can be redeamed at AMEX locations for no charge. I have also redeamed them in hotels and department stores for no charge, and have paid for expensive meals with no charge.

Interesting.

The American Automobile Association (AAA) recently switched from American Express traveler's cheques to Visa traveler's cheques.

I would prefer having traveler's cheques in € denominations over using my ATM card in a European ATM machine, especially if it results in a better exchange rate and lower fees.

A representative at the local AAA office near where I reside told me that people have had a tough time using their Visa traveler's cheques in € denominations in Europe, even at establishments which accept the Visa card! This has resulted in people returning with unused traveler's cheques.

Can anyone confirm whether or not this is true?

I am also curious to know about the travelers cheque situation.

Should I have the cheques issued in Euro currency, or US currency? is there an advantage to either?

Also, do i just go to a bank in europe to cash them in? how does it work? any caveats with the visa travelers cheques?

Do not know about the Visa TC's. The Visa site is here.

http://www.usa.visa.com/personal/sho...h2_/index.html

Before the ATM, and the euro, I would buy AMEX TC's in denomonation of the country I was visiting.(no ITalian Lira) for about a 1% premium, and could cash them at any AMEX office for no charge. Expensive restaurants took them. Department store would cash them. I had the same results with City Bank TC's.

The fine print on that website has a number to call for:
The Center is multilingual and may arrange refunds using a network of over 380,000 locations in more than 300 countries

Years ago I opened a citibank account so that I could have an ATM that didn't charge if used at another banks ATM. Also, citibank is an international bank so that many countries have branches. My former bank charged $3 per transaction. Most banks in Europe do not charge a fee, at least that has been my experience in England, Spain, Belgium and Italy. My brother has used one in Argentina and Israel without a fee. So you might need to shop around in Europe to see which ATM's do not charge a fee. Without fees at each end, the ATM is by far the best rates. I bring TC also just in case, but rarely use them. Also bring some cash. Buying the local currency in advance forces you to use them up, whereas buying US $ at least if you don't use them you can bring them home and use them. Also Britain is not on the EURO and I am not sure what other countries are not. If you are not near a citibank, you might want to shop around your local banks to see which has an ATM that doesn't charge a fee. It could be worth opening a travel account.

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Ms.DtG

ATM card by far is the best...The biggest
rip off I ever saw was changing money at Logan Airport in BOS.

In Germany the SECOND best is the German Post Office.

ATM cards are the best. I carry an English and US ATM card and had no problems so far. The exchange rates are the best and the cards I carry do not charge for ATM transactions.