Visa: Travelers opting out of cash

Call me old-fashioned, if you want, but I always like to have the safety net of cash in my back pocket (or wherever it seems safest). There have been many situations where I have had to rely on that - and it often gives you a better chance of striking a bargain.

On my last two trips to Europe I took cash, but used very little, except.for street vendors. As for the ATM, I changed money at my bank in the U.S. because ATM fees and exchange rates are just awful.

Like ProfessorAbe, I still carry some cash, although in my last two trips to Europe, totaling about 6 weeks, I spent only about €150 in cash.

But for that cash, I'm going to disagree on buying Euros from a U.S. bank; that's generally one of the worst rates and annoying fees. ATMs in Europe (bank ATMs, not ones run by currency exchanges) use an exchange rate a tiny fraction above the interbank rate. The exception is if you allow 'dynamic currency conversion,' meaning that you agree to have your account debited in dollars rather than Euros.

Also: Charles Schwab, the brokerage and bank company, allows you to open a no fee, no minimum balance checking account that has no ATM fees, no foreign transaction fees and repays any ATM fees charged by other banks.