2
Traveller's cheques
Pros: If lost or stolen, they can usually be
replaced within 24 hours.
Cons: Not as widely accepted or secure as
they once were. Some retailers in foreign
countries will not accept them, or will charge
ser vice fees as high as 15 per cent of the
cheque's value.
3
Pre-paid money cards
Pros: More secure than traveller 's
cheques. Pre-paid money cards, such as
MasterCard Cash Passport, come pre-loaded
with a limited amount of cash, and there's no
link to your personal details. If the card is sto-
len, the only thing lost is the balance on the
card – and there's no impact on your credit his-
tory or rating. They're available in multiple
currencies, and you can reload them 24-7 and
lock in the exchange rate at the time of pur-
chase. Another great feature, especially for
parents, is the ability to monitor spending of
the card online.
Cons: Small fees for activation and reloading.
4
Credit cards and debit cards
Pros: Secure, quick payment. Not every
countr y has implemented Canada's
extra-secure chip-and-pin technology. Your
card will default to the magnetic stripe if chip
technology isn't available – just pop by your
bank and confirm that the stripe is working
before you leave. Also be sure to call your
credit card company and give them your travel
dates, so they don't lock your card, thinking a
purchase made overseas is fraud.
Cons: Some smaller businesses are still cash-
only, especially in remote locations. W
The best way to make your
travels hassle-free is to
make sure you know the
currency options for your
trip. AMAtravel.ca/Currency
