I think your last sentence answers your own question really. Personally, I would be wary of taking large sums of cash on holiday and then have the worry of keeping it safe during the holiday. You obviously need some Euros in cash for use in the first few days of your holiday but for me the few pounds commission for exchanging traveller's cheques or withdrawals at ATMs is the price I'm prepared to pay for peace of mind.

i have took cash only on our last 4 holidays probb because we were only going for a week and have had no probbs. if it was for two weeks i would deff take travel cheques going to menorca for a week in may and just takeing cash. but i suppose it is up you if you are worried take cheques

hope i have helepd the fatboy

I always take cash and use my debit card at the numerous ATM's.You will be charged for each transaction but I have always found the exchange rate is about 4 euros better than when changing travellers cheques.

We never paid commission in Menorca, our hotel was offering a commision free exchange. Some places have offers. If you open an account with Nationwide you will not be charged for withdrawing cash abroad!