Cash is one alternative to traveler's cheques. The advantage of cash is that it can be withdrawn from a bank account, either in person or via ATM, in large amounts. Those amounts of cash can then be carried on domestic or international trips. Cash can also be exchanged easily for foreign currency either in airports or in local money-changing businesses. The disadvantage to carrying large amounts of cash on trips is that it is easy to lose cash. Cash can also be stolen, as theft is common in many places around the world. Cash, if lost or stolen, will not be replaced by a bank.
Credit cards are another alternative to traveler's cheques. Credit cards are easy to use because all of you to do is swipe them at the vendors of your choice and you are done. Credit cards are also easy to carry, since they fit in a wallet. Traveler's cheques come in multiple books and travelers often have to find convenient places to carry them. When planning on using a credit card anywhere within more than a few hours of home, always notify your bank, credit union or credit card company that you are traveling. Otherwise, the card may be declined. Credit cards are subject to the same theft problems as cash; however, if the card is stolen and used fraudulently, you can call your provider and have those charges canceled.
Before you leave, check your destination to see if there is a Western Union branch within walking distance of your hotel. If so, a relative can wire you money at regular intervals throughout your trip. That way, you will only be carrying what you need at any time and will be less likely to lose large amounts of cash or credit cards. When your relatives makes the money transfer, simply go to the Western Union branch and receive it.
Some credit card companies allow customers to purchase prepaid debit cards. These are almost like gift cards, in that they are not attached to a bank account and you can add money to them when you need. Since no bank account is required, if your reloadable debit card is stolen, a stranger will not have access to your account.
