Traveler’s Checks

Pro:
Security: The great advantage of traveler’s checks is that they are refundable if lost or stolen; but with the widespread use of credit cards, traveler’s checks have no real advantage over plastic.

Cons:
Not universally accepted: If you’re in a third-world country, or even slightly more developed nations, you may have to cash them.

Also, some smaller hotels may not accept them, or put additional restrictions on using them.

More Cons to follow…