I stopped using traveler's checks years ago when it became such a hassle to try and change them into local currency. You get the best exchange rate by using your ATM card at a local bank. You may incur a charge of something like $3 per transaction but that will be FAR less than using a bank or a cambio to change TC's or US dollars. There are always ATMs in the airline terminals.

Just make sure you call your local bank and tell them that you are traveling abroad and will be using your ATM card overseas (they will probably ask you when you are leaving/returning and what countries you will be visiting) so you don't get "cut off" after a few days (they may assume your card has been stolen). Also be sure and call your credit card company and let them know you will be charging things abroad so the same thing doesn't happen.

I always make a photocopy of the information page of our passports and write down the account numbers as well as the 800 numbers or "call collect if overseas" numbers of the credit cards we will be carrying, just in case.

Two years ago my wallet was stolen from my purse 5 minutes after I claimed my suitcase at the Paris airport precruise. By the time I reached my hotel 40 minutes later I learned from the credit card companies that over $3000 had been ATTEMPTED to be charged on each of my cards. Of course the cash I was carrying to pay my private guide is Saint Petersburg was history. Not a great way to begin a holiday...