In Reply to: Six of one half dozen of the other posted by katmc on Thursday, 4. August 2005 at 07:37 Bali Time:
You don't need your passport to exchange TCs...a copy is fine...it was fine every single time we exchanged TCs.
The difference in rates for cash and TCs is very small. TCs get less, but nominally so. It was about a 1% difference between the two. Nominal.
Money exchangers make money on cash and TCs...makes no difference to them what you have. I didn't see any money changers who charged a commission, and their rates for cash and TCs are always posted. We had no trouble at all with TCs anywhere (and they were Japanese yen checks at that), and we figured that in the end, they cost us less than $30.00 total in the fee to get them and the slight difference in exchange. Certainly worth it for us to avoid worrying about losing cash.
ATMs have a fee too.
Cash stored in a room safe or deposit box at the hotel is not covered by travel insurance as far as I can tell. If you think it is, check your policy again, and would you please post what insurance you've got as I'm sure others would like to know.