Quote Originally Posted by buckaroo2
I get free traveler's checks with my US bank account but am always charged a per check fee when depositing them in my Thai bank account. As the exchange rate is presently quite favorable I decided to make a large deposit in my Thai bank account to use for future trips. A requested large demonination AMEX traveler's checks from my bank and they ordered and supplied me with traveler's checks in the $1,000 denominations - I won't have to pay so many check fees and I will not have to stand and sign my name at the bank dozens of times.
Many banks offer free travelers for seniors. Check with your bank re age requirements. (They were free to Auto Club members but that may have changed.)
As buckaroo2 said, the per-check fee is same for large-denominination checks as for small, sign your name fewer times--And you need make fewer trips to the currency exchange, fewer times carrying your passport. But make sure your bank keeps the large denominations in stock; if they do not stock them, allow enough time for them to order them: about five working days but allow ten.
If you aren't convinced; also check with your bank re ATM exchange-rates and transaction fees. Many (quietly) increased transaction fees recently and changed the way they handle exchange rates. Transaction fees may be same rate as a cash advance: 3 to 5% with a minimum charge but no maximum cap; the exchange rate you receive may not be the same as was in effect at the time you hit the ATM. Customers were informed via one of those little--Changes to your accont agreement--leaflets we toss, unread. Generally speaking, it's more expensive now--And T'ck's, especially if you can get them free; are a better deal than ever.
And some card companies...I said 'some'... will freeze your card if it is used in a foreign country, unless you notify them where you will be & when.
Banks, and AmEx, charge a lot for those silly tip packs. The exch. rate at the airport is as good as at the bank, in town.
After saying all that, my advice: bring both--And a couple large, new bills: most currency exchanges won't accept small denominations or old bills: without the see-through thingie.