Traveller's Checks - Anybody Using Them?

[maxingout]

Are long distance cruisers still using traveller's checks?

We always had a few thousand dollars of traveller's checks on board Exit Only, and banks always cashed them in countries around the world. They were a convenient way to carry cash equivalents on board.

We also carried a few hundred dollars in small denominations. People always seemed happy to get US Dollars.

What is the situation now around the world? Do people use traveller's checks or are they a thing of the past?

[Jim Cate]

DAve, we used to do the same thing, so we had a few hundred bucks worth of them hidden away for years. One day it occurred to us that this was pretty silly, so we tried to cash them. Turned out that no merchants we encountered would touch them,and the bank we finally tried was pretty confused about the operation. Had to get a senior staff person to sort it out (this was in Oz).

Now we pretty much depend on small amounts of cash, obtained in local currency, usually from ATMs, and the ubiquitous plastic. Works most places we've been in the last decade or so.

Jim

[maxingout]

This past year, Donna was going through a closet and cleaning things out and throwing stuff away, and she came upon more the $3000 worth of travelers checks that were over ten years old. Nice surprise, and I told her to keep looking for more.

We took those travelers checks to Navy Federal Credit Union where we bank, and they cashed them without blinking an eye, but I don't think the cashier had ever done it before as she was a very young person.

So it looks like the days of traveller's checks are over.

It was an inexpensive way to carry cash equivalents. So it looks like we will have to use the ATM one arm bandits and pay to play.

Globalization has changed the rules of the game worldwide. I have not decided whether it's for the better or the worse.

[Triumphant]

Travellers cheques and banking in Guatemala.

We have always carried US$ Travellers cheques as our “get out of jail/emergency” money

Last year, when the British pound tanked by 20% against the Dollar after Brexit, we thought, no problem, cash some cheques

Well I can tell you in Guatemala, only 1 of the banks in the whole country (BAM) will accept them AND ONLY $200 per person can be changed every 8 days, they track it on their computer so you cannot skid into another branch and try again. The Amex web site showed multiple different banks in Guatemala City that would change the cheques but when we arrived at the bank, they all said “Cash only”

So traveller’s cheques not longer of any use in an emergency and we have cashed them in where we bought them

If you want to exchange US Dollars cash in Guatemala, it is not easy either as the bank clerk examines every note and will reject any which are not perfect, there is also a limit on the amount of cash per person per week unless you have an account a the relevant bank.

And, this is the one I really like, if you have a Guatemalan US dollar account, there is a limit of about $17,000 that you can have in the account, once you reach the limit, the bank will refuse to accept a deposit as the bank is account is “full”

[Vasco]

Gave up on travellers checks more than fifteen years ago. I was in FL, went to a bank and signed two $100 checks. They would only cash one. They said too much fraud in travellers checks. Never bought any again.

[Kenomac]

It's been 20 years since we've used a travelers check. ATM Bankomats etc everywhere, even more here in Europe than the USA, I'd say 3x as common. We carry very little cash usually less than €50, because some restaurants don't accept credit cards, but even then a cash machine is always just around the corner.

[Nicor]

Originally Posted by Kenomac

It's been 20 years since we've used a travelers check. ATM Bankomats etc everywhere, even more here in Europe than the USA, I'd say 3x as common. We carry very little cash usually less than €50, because some restaurants don't accept credit cards, but even then a cash machine is always just around the corner.

Is there any left in Europe that do not use the chip n pin card ?

One travel site i went to stated Swedish ATM no longer accept the ones that are not chip n pin. No where to be found in Sweden for the swipe cards.

[Kenomac]

Last year, using a non-chip card wasn't a problem. This year we only used chip cards.

Bring a chip card.