This article is from the Europe FAQ, by Yves Bellefeuille email@example.com with help from Martin Rich M.G.Rich@city.ac.uk.
You'll usually get a worse exchange rate if you use traveller's cheques
rather than any of the cards mentioned above. Still, some travellers
like to have them as a backup in case they can't use their bank machine
card or credit card. If you carry traveller's cheques, ask the issuing
company for the addresses of its offices or of affiliated companies
which will cash the cheques without charge.
Some users of the newsgroup have expressed dissatisfaction with the way
Thomas Cook handled reports of lost or stolen traveller's cheques and
have recommended getting cheques from American Express or another
You should get traveller's cheques in your own currency, to avoid having
to pay for the exchange of any cheques left over.