Travelers Checks

They are accepted by most everyone...

Thanks Marty, I'm doing my PMV and I'll feel safer carrying travelers checks since they're refundable if lost or stolen. I wanted to be sure they can be used everywhere and not just resorts and tourist spots. Loading up my cart at Cost U Less and finding out at the register they don't accept them probably wouldn't go over too well. Thanks Again, GL:-)
P.S. I'm not all there either.

As easy as they are, it's even cheaper to just bring your ATM card and hit the machine when you need cash..

I had trouble cashing Traveler's checks at a bank here on Stt when I first moved here. Only allowed to cash a certain amount. And this is the bank that I just opened an account in.

I didn't want to carry lots of cash either while traveling from the states to here.

Better to use your debit card with a Visa or Mastercard logo for purchases at stores, like Cost-u-Less and Kmart. And then use the ATM when you need cash or use at stores that will let draw cash when you make purchases.

You can bring some Traveler's checks to use to open a bank account or maybe deposits on WAPA, rent, etc.

I agree that travelers checks may be a waste of your time and money.

As a merchant, I did not know this about them ...

http://www212.americanexpress.com/dsmlive/dsm/int/lac_idc/lac_en/merchants/aboutamericanexpress/travelerscheques/howtoaccepttravelerscheques.do?vgnextoid=07160b9d5e851210VgnVCM100000defaad94RCRD

... but, again as a merchant, "handling fee" scares me a bit. As far as my bank goes, if they can get away with charging me a fee for it, they generally will charge me a fee for it.

Also, be forewarned that you won't endear yourself to the average USVI small business owner if you pay for $20 worth of stuff with a $100 travelers check. There are a number of reasons for this, and I'll leave it at that. 🙂

Seems to me that travelers checks are kind of a throw back to the days when ATMs were not as prolific as they are now and credit cards were not as widely accepted.

Because we are USVI, you don't have to worry about any international transaction fees on your ATM, credit or debit transactions. On STX, ATM machines are fairly conveniently located across the island. Fees are competitive to what you would find in the states if you were using an ATM that was not operated by your bank. Of course, there is no fee when using a debit card with pin, or a check card/credit card. Probably the only thing to be aware of is that many businesses do not accept American Express (large places like CUL, Plaza, KMart, Home Depot etc do), and you'll find a handful of businesses (smaller bars and restaurants mainly) that are cash only. Still, there is no reason you should need to travel here with a large amount of cash, nor carry a large amount of cash with you while you're here _ no different than at home.