I'm looking for lowest service charge and also prevention of loss or theft. I know actual Swedish Kronas would be best but is it better to use traveler's cheques or credit ot atm card?Thanks
Bring your card (visa, mastercard) you can pay pretty much everywhere with card there.
The best method is your bank ATM card. It has the lowest fees and the correct exchange rate. With your ATM card, here is no fee for converting you money. No other method of getting local money does that, which is a huge savings. All the rest of them will charge you to convert your money. Your bank will charge you about $1-1.5 for using a ATM, the bank you are getting the money from won't charge you anything. You can't beat that deal with a stick, anything else will cost you more money. Travelers checks are very old school, I'm surprise they even make them anymore. Many stores and restaurants don't want to take them as they don't want to spend the effort to deal with them. Not only do you have to spend money to buy them, but they have to be converted to local money at some point. When that happens you get screwed on the exchange rate anywhere from 5-10%. That is a lot of money right out of your pocket. Credit cards are good too, but you company will charge you a transaction fee of 2-3% of the amount spent to convert the money. Whatever you do, do not get cash with a credit card unless you need too. Not only is there that same fee but they start charging you interest right away. They don't give you a grace period like other charges.
I always use my ATM debit card at ATMs to withdraw cash and then I use cash for most purchases. You get a better exchange rate that way, plus your bank will charge you a conversion fee every single time you use your debit card from home instead of one fee for withdrawing 1000 SEK, for example. Sweden is really safe and theft isn't terribly common. If you're worried, you can wear a money belt under your clothes and keep your card and large sums of cash in there. I'm assuming you're a foreigner traveling to Sweden, but maybe I'm wrong.
