22 May 2005
Bowing to the inevitable
When's the last time you schlepped along a book full of traveler's checks?
Right. Same here. So American Express, which used to make a ton of money off them, has come up with Plan B: the Travelers Cheque Card, a reloadable debit card that's available in multiple currencies (dollars, euros, sterling) and has the traditional Amex within-24-hours replaceability. The initial load is $300 ($14.95 fee); you can store up to $2750 on the Card, and reloading ($100 minimum, $5 fee) can be done through a standard Amex card or a debit Visa or MasterCard over the phone. And if it is stolen, the thief won't have any access to your bank or credit-card accounts, a distinct advantage.Posted at 8:30 PM to Common Cents