In Reply to: Travellers cheques posted by bigpete on Thursday, 8. September 2005 at 08:22 Bali Time:
The rate for travellers checks was 200 rupiah different from cash...about. When you get 9000 or 10,000 rupiah for $1.00 US, 200 rupiah isn't very much at all.
We never had any trouble cashing them anywhere. Nowhere we used had commission either. We also bring credit cards, and use them to pay for the hotel. The rate on your credit card is often the best rate of all since the credit card company gets close to market rates.
Checks are safer. If they are lost or stolen, provided you have the check numbers you get your money back. If cash is lost or stolen...it's gone forever. Note that some travel insurance covers cash...to a point...the restrictions on amount are very low, and you are generally only covered if it is stolen/lost when it is on your person so if it disappears from your hotel safe/lock box you aren't covered. If you are taking cash under the assumption that it's insured, check your policy very carefully...I haven't seen one that has even barely adequate coverage.
You could use your ATM card...of course, check with your bank first about fees and exchange rate, as often they really get you.