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cashing travelers checks vs. Using credit/ATM cards?

In cooperation with: Visit Mexico
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New York City, New...
posts: 109
reviews: 4
cashing travelers checks vs. Using credit/ATM cards?

How easy is it to cash travelers checks at the hotel and in the town, and is the rate pretty good...

I read a some reports of credit card numbers being lifted and PIN numbers being stolen, would rather make the chance zero and use only travelers checks if it is not a problem to cash and the rate it ok, and save the credit card for the hotel deposit only to charge drinks on.....

Any thoughts.

Puerto Vallarta...
Destination Expert
for Puerto Vallarta
posts: 21,790
reviews: 5
1. Re: cashing travelers checks vs. Using credit/ATM cards?

In town, at banks you'll need a passport to cash traveler's checks.

Hotels are notorious for low exchange rates, except when paying your bill.

The ATM machines give a very good rate, 4 digit PIN only.

Vancouver, WA
posts: 168
2. Re: cashing travelers checks vs. Using credit/ATM cards?

Skip the travelers checks - they're a pain and the exchange is poor. I've read some reports about people having their travelers checks ripped off too, but like the credit card issue, they're rare.

Plus, you get fraud protection with your credit card.

Burnaby, Canada
posts: 11,467
reviews: 116
3. Re: cashing travelers checks vs. Using credit/ATM cards?

Traveller's cheques, for us as well, have been more of a bother, than a convenient and "safer" way to carry money to Vallarta.

We thought they were the way to go when we took our first trip a few years ago, but we've 'learned' from experience, and have not taken them on (our several) subsequent trips.

We prefer to keep passports, and other such ID's, in our room's safe, or hotel's safe, when we're out and about. One can carry a little currency (US, Can, Euro, or whatever), and convert it when necessary. And that's easily done just about anywhere (but as it's been said, better rates of exchange are usually found at 'some' of the banks).