Re: "Traveler's Checks: Going South?" (Sept. 29): We just returned from a trip to Southeast Asia--to Hong Kong, Bangkok, Malaysia and Singapore. We didn't follow the advice of the article and took lots of traveler's checks and cash.
In Hong Kong we converted a $50 traveler's check to Hong Kong currency at a bank and were charged $6 U.S. money--we received back only $44.
Fortunately, we did take one charge card with us. We found out there is no fee charge, and you get the exchange rate of the day. In Singapore, one of the stores even gave us a 10% discount for using the credit card.
Serves us right for not listening to you!
We read with interest the ongoing discussion of traveler's checks vs. credit cards vs. cash. We recently returned from a tour in Turkey, which is experiencing an incredible inflation rate. In preparation for our visit, we had collected all three of the means of exchange: traveler's checks, cash and credit cards.