`Traveler's Checks' Go PlasticRussell Mitchell
Visa International wants you to think of it as a traveler's check that looks like a credit card. Feed the new TravelMoney card into any of 200,000 Visa/Plus automated teller machines worldwide and get cash back in local currency. You say you can do that with your credit card or bank ATM card? That's true. But TravelMoney has some features other cards lack. Known as a "stored-value" card, it is purchased from a bank at a set amount, with a service fee of about 2%--twice that for most traveler's checks. The ATM deducts value from the card as it dispenses cash, at near-wholesale currency-translation rates. When the card is depleted, you throw it out.
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