I actually just found some travelers checks from about 10 years ago! I wonder if I can still use them (and if I can use them here in the States)...

Posted By jen on March 17, 2011, 12:55 PM

Hi Jen,
You should be able to still use them if they're from American Express.
Cheers,
Sean

Posted By Sean O' on March 17, 2011, 1:23 PM

We haven't used them in years. But if banks put limits on Debit card purchases (not everyone has credit cards), I don't see an alternative.

See: Debit cards: $50 spending limit coming?

http://money.cnn.com/2011/03/10/pf/debit_cards_limit/index.htm

Banks are considering a $50 or $100 limit on debit card purchases, as issuers look for ways to offset lost revenue under the Fed's proposed interchange fee cap.

If this happens - well, it doesn't bode well for many ..............

Posted By CMM on March 18, 2011, 3:12 PM

We like them but increasingly restaurants and stores don't know what to do with them, even here in the US. On our last family trip we used our debit cards and kept track of our expenses. We came home to find the bank had erroneously charged us 7 $35 over-draft fees.

Posted By Laura on March 19, 2011, 7:16 PM

My daughter was studying abroad in Europe last year and I got her travelers checks in dollars. This turned out to be the biggest hassle to get them cashed since the banks aren't open evenings or weekends. Plus she needed her passport and had to pay exhorbitant fees. She ended up using the ATM and we cashed the travelers checks when she returned to the US. Will never use them again.

Posted By Sue on March 21, 2011, 10:34 AM

We stopped using them years ago because no one will take them. They all want plastic and who can blame them? They get that money immediately.

Posted By Ducklady on March 21, 2011, 10:34 AM

I remember hearing from a friend a few years ago that Amex had a travelers check card which basically works like a debit card. I probably should have looked into it before commenting. I stopped using travelers checks after bank cards came out. I do run into problems with debit cards tho, particularly in Canada because of the whole interac system. I find it exasperating.

Posted By Ameli on March 21, 2011, 1:46 PM

i took travelers checks to paris in 2005, it was a hassel to get them cash. if you dont have cc look into getting capital one card. they dont charge forign trans fees. which most cc do 3%. also notify your cc that you will be using your cc that no problems later down the rd.

Posted By irene on March 21, 2011, 2:32 PM

I usually take some travel checks with me as a B plan if I lost my credit cards or ATMs are not avaiable (pretty common in some areas of Europe or Middle East). I'd favor Amex cards because you can always count with their offices abroad.

Posted By Jax on March 21, 2011, 2:37 PM

When my wife and I traveled through Belize and Guatemala two years ago, we used travelers' checks. We would go to a bank and cash them for local currency. So many places did not accept credit or debit cards.
If I were traveling through Europe, I would use credit cards

Posted By Phil on March 21, 2011, 2:55 PM

We are going on a 30 day cruise to nine countries in Central and South America and the cruise line said we could just get cash advances on the ship as we go and pay at end of trip with a credit card. Did not tell me but found in the fine print of info provided that they charge 3 percent on cash advances.
Called and confirmed they will cash traveler's checks at no charge. Plan to use them and save the 3 percent, getting the TC for free from AAA. Anyone else done this? How did it work?

Posted By Glade on March 21, 2011, 2:57 PM

While living in Mexico City a friend came to visit and needed to cash her travelers check. Luckily I had a local account otherwise no one would cash the travelers check, I had to cash it and give her the money. Had I not had a local account she would not have been able to cash the check at a local bank.

Posted By Lisa Ceddia on March 21, 2011, 3:02 PM

As a transatlantic couple (my husband is from Scotland and I'm American--we live in the U.S.) we travel often to the U.K. and other countries. We are lucky to have bank accounts and credit cards in both our native lands, so whenever possible, we avoid currency conversion fees in our two home countries by using local currency.
We still have occasion to use travelers checks and have gotten the best U.S. deal by buying them in our local AAA (American Automobile Association) office--membership is a great value for drivers who want the assurance of road assistance and many tourist/travel services. We buy checks in pounds sterling if we're going to Britain. (I'm not sure AAA still sells them in foreign currencies; it's worth checking.) That way you pay the conversion fee just once--here--on the whole set of checks. If you cash them in banks abroad, there might be a handling fee but not the conversion fee. (We find fees of any kind higher in Europe than in the U.S.) Using banks for cashing is becoming more necessary, since it's true that businesses such as restaurants and hotels aren't accepting travelers checks as readily as they once did.
Sometimes to bring funds home, we buy dollar travelers checks in Britain--but not at our bank. A reasonable deal in exchange rates and service fees can be found at the department store Marks & Spencer, on any high street throughout the U.K. Many American travelers aren't aware that M & S offers financial services, including American Express travelers checks. Some M & S stores post their daily exchange rates in the windows for passersby on the streets. Using an American Express office abroad might also save some fees.
If you're planning your overseas trip way ahead and want to buy travelers checks in the currency you'll be using, keep checking daily conversion rates, easily available online. Buy checks when our dollar is at its strongest in relation to your destination's currency. The rate on the day you buy your checks becomes the rate you'll pay for your whole trip. Of course rates will keep fluctuating while you're abroad, so it's a gamble. You win some, you lose some.
American students living abroad might find it worthwhile to open their own bank account in the country where they are studying, for better financial services of all kinds. If American parents need to send large amounts of money to their child in a university, overseas wire transfers still work from bank to bank. One must allow time for the funds to appear--transfers are NOT instantaneous. (It can take a week or more; we notice that since banks on both sides of the pond have been coping with uncertain financial markets, transfers take longer. In early 2009, a transfer from the U.K. took more than two weeks to show up in our U.S. bank, and bank officials on neither end could (or would) explain why.
Perhaps these tips can offer alternatives to travelers.

Posted By Cathi on March 21, 2011, 3:10 PM

I have rented three different apartments in Paris and had to get Euro Travelers checks for the deposit. That is a bit of a hassle in L.A. When everything was ok the landlord returned them to me. I had to travel back to U.S. with these "signed" traveler's checks (that's not safe!) then I had to take them back to American Express Office to get my money.

This is the ONLY reason I have used travelers checks in about 10 years. ATM's are so much MORE convenient and so much cheaper!

Posted By Jan H. on March 21, 2011, 3:21 PM

I last got traveler's checks for a trip to Vietnam about four years ago. Nobody would take them. Once I got to Saigon, which was at the end of my trip, I had to go to a Citibank, which was the only bank that would convert them to cash, in order to cash them. Never again will I bother to get traveler's checks. Honestly, American cash is easier to use most places in the world.

Posted By Diana B on March 21, 2011, 3:30 PM

I have not used traveler's checks in over a decade. In Europe, ATMs are easy to find - and my bank's conversion rate is fair, with no fees. The biggest risk is getting out too much cash, so one has a pile of unspent foreign money that either has to be re-converted to some other currency (with significant fees), or held onto (not bearing any interest and possibly eroding through inflation) until the next trip.

Posted By Michael Stein on March 21, 2011, 3:52 PM

I go to South America a lot and usually rent an apartment while I am there. All of them require sizable cash payments (both rent and deposit) payable when you get there. ATMs in Argentina will only dispense a few hundred dollars per day to foreigners, making it impossible to just get the money when you get there. I usually just have to carry hundreds of dollars in cash with me in a pouch (like the one described) but it's not ideal. A few years ago, I made a stop in Mexico on the way down. I didn't want that kind of money for running around Mexico City, and was incredibly thankful to have travelers' checks that I cashed once in Argentina to then pay the cash rent. Yes, they are not necessarily easy to cash, but in some situations they are the only answer. And with some pre-planning, totally workable. Debit cards and credit cards get stolen and used, and sometimes do not work in other countries as they do here. Travelers' checks are a great backup. For a short vacation in hotels, I wouldn't need travelers' checks, but for longer stays in places with fewer banking options, they are extremely important. I wish more banks offered them.

Posted By Mollie on March 21, 2011, 3:55 PM

I sometimes bring a few to Europe jut in case. But they have become superfluous with ATM card acceptance in Europe. You don't have to worry about having a card with the "chip" in it.

We once tried the Amex Trav Checks for 2 when ATMs were uncommmon. In theory only one of us had to sign but every place required that we both sign.

Posted By Rich on March 21, 2011, 4:04 PM

I hope they don't go away, I think they serve their purpose well in many cases.

I have carried them when going on long (months or a year) trips as you never know what is going to happen. I've had ATMs refuse both debit cards in Prague, good thing I had my emergency travelers checks! Yes, I used them in Europe. I cashed them at a bank with no issues.

When I went to Cambodia back in 2003 the only option for cash was to either have US dollars or use travelers checks, there weren't any ATMS that anyone I talked to knew about.

I used my emergency checks in Bali when my ATM card was skimmed (I only brought one card with me, usually I bring 2 from 2 different banks). The account was emptied and I was traveling on my own. I got my money back but it took about a week.

I used them just last month in Tanzania paying for a safari. All safari payments (and climb payments and some higher end hotels) have to be in US Dollars or travelers checks.

My options were to carry $1500 in cash (no thanks!), get the money out slowly over many days from the ATM then get it converted from Shillings into Dollars, or get checks ($1 for every $100 at my credit union). The other options were just silly once I found out I could pay with travelers checks.

Would I count on travelers checks solely to get cash? No, ATMs are a better deal. The fact remains though that there are issues with ATMs and the majority of the world isn't Europe or the US and travelers checks are handy and safe.

Posted By Karen P on March 21, 2011, 4:15 PM

Having lived in Europe for many years, but still having my U.S. bank account, I am still buying AMEX TCs on a regular basis. If you are an ADAC (German auto club) member, you can order your TCs online, with free next-day delivery to you at home and no service charge (if ordering for a minimum of €750). I then take the dollar TCs with me to the U.S. to deposit in my U.S. account. Works well for me and no carrying of cash on an international flight.

Posted By Sharon on March 21, 2011, 4:18 PM

I've used tc's extensively for travel in Central
America. Have had zero problems nor was I charged for the exchange. I do not use the ATMs as some outside of banks have been rigged to keep your card. I've also used them on vacations to FL USA.

Posted By Joan on March 21, 2011, 4:58 PM

The last time I used travelers checks was in Germany, before the Euro. I had them in Deusch Marks, but the Post Office wanted a 50 percent fee to cash them. After much wrangling, I got one pension to accept them at the end of my stay. The owner couldn't understand that they could be deposited like any other check.
I wound up going to the American Express Office in Frankfort and cashing them in for local currency.

Posted By Bob on March 21, 2011, 5:29 PM

I've traveled the world, and the only place I've been where traveler's checks were necessary was Japan, where you get the best exchange rate at the airport if you exchange travelers checks for yen. The airport website even has the current exchange rates listed for those in doubt. It's cheaper than pulling money out of an atm or converting cash. So, at least in Japan, they're a great tool. Everywhere else, I just take and ATM card but try to charge as much as I can to my Hyatt Visa Signature card, which has no foreign transaction fee.

Posted By Jen on March 21, 2011, 5:55 PM

When my son's wallet with credit,ATM cards and cash were stolen in Hong Kong a few hours before he was to take a flight back to China,he was saved by having had some traveler's checks kept in his backpack, which was not stolen. It took some time to get a replacement ATM & credit card, so the traveler's checks were invaluable.

Posted By Jeanne on March 21, 2011, 6:08 PM

Never use traveler's checks anymore. On group trips I end up cashing others traveler's checks for them. Last summer in Italy my sister-in-law cashed a traveler's check & they only gave her about half the value of the money. After that I used my debit card at ATMs & got her money & took her traveler's checks. Did the same for others throughout Britain a few years ago.

Posted By Dean on March 21, 2011, 6:34 PM

As Karen and others mentioned, if your trip is long, travelers' cheques should be part of your mix. Buy them at places that don't charge fees, such as AAA (may have to order them) or your own banks. We get half in each name, cash them at airports and banks and put most currency back in the money belts. Debit cards have daily limits and hazards like theft. Unlike credit cards, someone can wipe out your account and it will take time to restore the funds. You could keep just a little in that checking account and transfer money online each day but that is a hassle and could cause other problems. Other money-saving and safety tips in my books. Add dot com to my name.

Posted By Barbara DesChamps on March 21, 2011, 7:18 PM

Interesting discussion. We used travelers checks in Paris, cashing some in at an American Express location when we were low on Euros.NO problem. Last year in Rome, we tried to cash some at two banks near our hotel. Neither could /would do so. One referred me to the exchange Bureau...it was a very expensive trade!! I suppose if we had gone the distance to the American Express office, which was not on our travel plans for the day, we may have done better. Credit cards are fine if the location takes them. Many smaller businesses are cash only so credit cards are NOT the answer. Agree that a combination of credit/debit, foreign currency and "some" travelers checks is probably the best option.

Posted By Morgan on March 21, 2011, 8:34 PM

We are "cash and plastic" travellers. Haven't used TCs in close to 20 years. ATMs have always been there for us - China, Bali, Mexico and Europe.

The only special thing we do is carry multiple cards in different places, eg my wallet, her backpack, my belt... so a theft won't wipe us out. We also go to a local bank and get destination currency before we leave. It's great to step off the plane and have the cash you need in your pocket.

Posted By Michael R on March 21, 2011, 8:53 PM

I've traveled to China several times since 2000 and used traveler’s checks (TS’s) each time. AAA, depends on the office and state issuing them, used to sell them without charges to members and so did the credit union I used. In California they now charge for them and would rather issue a cash card which has a lot of fees for purchasing, adding money to the card and using. Not a good deal. I would go to a branch of Bank of China to exchange the TC’s. A lot of paper work, but best rate and the staff have always been helpful and pleasant. A side note, Capital One does not charge currency exchange fee when using their card outside the USA. I will keep their card for that reason. Other cards charge 2-4% exchange fees. If you’re having trouble using TC's in the USA, just deposit them at the bank or credit union you have an account with, regardless of age (depends on the issuer, I think).

Posted By Ric Carrico on March 21, 2011, 10:24 PM

Have not used T/Cs for years until last week when we made a short humanitarian trip to Cuba.

Currency conversion results in 9% less "CUC" than when T/Cs are used.

Posted By Eric Bloch on March 21, 2011, 10:24 PM

I travel at least once a year to the U.K. I used to buy travelers' checks in pounds at the AAA office. American Express checks were cashed at full value (no fees) at American Express offices. Barkley's Bank cashed VISA checks at full value.

Now the AAA no longer offers this service, and now I am unable to buy travelers' checks in foreign currencies. This is a great inconvenience when trans-Atlantic payments must be made.

An ATM card is fine to get cash after arriving in the U.K.

Posted By Thirza Sloan on March 21, 2011, 10:43 PM

I travelled through the U.S. in 2001 on a camping holiday with my family. I am living in Australia and made the mistake of buying Thomas Cook cheques. Banks were the only places we could exchange them and that was after a great deal of explanation and of course passport waving. It was definitely not worth the effort. I would only take a card or cash in future.

Posted By Michael Hilt on March 21, 2011, 10:56 PM

I had my purse stolen years ago while in the Philippines and that event made me forever cautious. When I travel, I typically carry two prepaid visa debit cards separated. I like the idea of only loading the money I need for the trip and not using my credit card with a large limit. Normally I just use the debit cards to acquire enough cash for a day or two from ATM’s. I also bring some cash (again separated out and hidden in several locations) and finally traveler’s cheques. I might have cashed some checks in Ethiopia, but can’t recall the last time I did. Otherwise they only serve as my security blanket. While I am sure it is a hassle to cash or replace them, it is a comfort to know I CAN do so in an emergency.

Posted By CrystlGib on March 27, 2011, 9:30 PM

Traveler's checks? They can be used the same places you buy 8 track catridges & typewriters.

Posted By da Frog on March 27, 2011, 11:07 PM

I got traveler's checks before I went to study abroad in Australia in the fall of 2006. Nobody would accept them. I had to go exchange the money yet again. It was a total waste of time for me to put that money into those checks. I do know that when we went to Hungary in 1995 though they were invaluable. Perhaps it's growing out of popularity as this article suggests. I'm guessing the location might have made a difference too.

Posted By Heather on March 28, 2011, 12:06 PM

I still take them on cruises. You can cash them, fee-free, at the Purser's office on the ship.

I have yet to find a ship that doesn't cash them.

Posted By Cheryl on March 29, 2011, 6:06 PM

Some places in Mexico still take them as they would prefer cash/travellers' checks over plastic, OR they just don't take plastic. That is the only time I have used travellers' checks in 15 years.

In Cancun @ the Presidente Intercontinental Hotel, they wouldn't take my travellers' checks for payment, even though I signed the checks in front of the desk clerk. He said my signature did not match. My signature is sort of messy, so it's NEVER going to look the exactly same twice, but the general characteristics are the same. So I now had signed (unsafe) travellers' checks that the silly man would not accept. Be careful with your signatures! Other places (Tulum) were not so fussy as this hotel.

They're still a good option if you have no cash or lose your cards, but they're a hassle mostly. I usually take them as backup if I'm going to Mexico & then use ATM's where possible & then deposit the travellers' checks in my bank account when I get back if I don't use them.

Posted By Christine Nimitz on April 5, 2011, 1:07 PM

Watching American Bandstand,then Soul Train on Saturday mornings and dancing like happy epileptics would be a great way to start the weekend. It was always after having a slumber party with a friend or cousin's house. Aretha Franklin singing "Rock Steady" could be the first one I remember-I was ready five and would hula-hoop like Alvin on speed. Does anyone remember "the Bump"? The Afro-Sheen commercials were so fly. Even if Don Cornelius's funeral is totally private,I expect you will see a memorial/tribute show for him. Singers must be those who can perform with dignity.It would be best to have people who appeared on Soul Train during its peak years. Any ideas,hussies?

Posted By Orville Pomiecko on February 3, 2012, 9:34 PM

that just sucks. I thought the Soul Train LIne was the do-not-ever-miss section of the show 'cos the chicks were sexy with giving the impression of the hootchies today and the guys were always stylin'.

Posted By Willis Layssard on February 3, 2012, 10:11 PM

When I was we were young, Saturday didn't BEGIN until "Soul Train" came for the air! I am not sure what personal hell drove one to take your individual life, Brother Don, but are aware that you were--and always will be--loved and revered during my house FOREVER! Love, Peace, and SOUL!

Posted By Archie Mavraganis on February 4, 2012, 12:37 PM

Genius Blog-Post, kann ich nur sagen!

Posted By wypadek samochodowy on March 8, 2012, 1:01 AM

non-sequitur illogical!

How did we get from taking money to foreign destinations to American Bandstand and Soul Train?

Posted By Thirza on April 21, 2012, 6:28 PM

Traveler checkes are a great thing. I am always surprised to know some people don't like (or they don't really understand how to use them). Here is the thing, I've used traveler cheques for about 15 years in Europe, Asia, and in North and Sudamerica; always free of troubles and painless. You can cash TC in many banks or big hotels. In some countries TC have even a better rate when you cash them in the bank. I even used TC to buy groceries in a supermarket in Sudamerica. It is true that in some places you have to pay a small fee to buy TC, but I think of this fee as insurance in case I lose the checks. If you happen to spend months aboard, TC are a great option to save money if you buy TC in a strong currency, in case that the local currency is not very strong. TC is like cash that only you can use, so they are very safe.

Posted By Peter Edwin on May 15, 2012, 11:41 PM