At one time, you’d never leave home – or the US – without traveler’s checks because, unlike cash, they can be replaced if lost or stolen. You could cash a traveler’s check at a foreign bank to put local currency in your pocket, or you could use them to pay for hotels and meals. But as ATMs have become more common around the world, some think the paper vouchers have become outdated.
In fact, many European establishments no longer accept traveler’s checks and foreign banks can make it difficult to cash them. But having a few traveler’s checks is still a good idea because they are computer proof, so you have cash if the ATM is down…or if your card disappears into an ATM.