Travelers Checks

[kikc69 45]

I am leaving in two days and went to my credit union to get some travelers checks which I always have used while in LOS> The teller said that many places and countries do not accept them now due to some fraud issues. I still got the checks. Today I went to Wells Fargo and they do not even carry travelers checks anymore. They also said many places will not accept them do to fraud. Any Americans in LOS at this time have first hand knowledge of cashing American Express travelers checks? Any problems encountered by anyone? Thanks for any info.

[Jack Scagnetti 488]

I was there in August and never had a problem using American Express.

[kikc69 45]

Thanks for info Jack. I was there in September and also did not have any problems. Just concerned that this is something new.

[N3RGT 118]

I am leaving in two days and went to my credit union to get some travelers checks which I always have used while in LOS> The teller said that many places and countries do not accept them now due to some fraud issues. I still got the checks. Today I went to Wells Fargo and they do not even carry travelers checks anymore. They also said many places will not accept them do to fraud. Any Americans in LOS at this time have first hand knowledge of cashing American Express travelers checks? Any problems encountered by anyone? Thanks for any info.

 

I used American Express Traveller Cheques in Thailand on my last trip in Jan/Feb this year at various outlets, dependent on which bank was giving the best rate. No problems whatsoever, other than what seems a very comprehensive validity check, which I would expect, and welcome, anyway.

Edited March 30, 2010 by N3RGT

[biggles 509]

I was there one week ago and deposited AE cheques into my thai bank account. I do this regularly now for about five years and no problems. I did have some stolen once and the service from AE was very good.

[midlifecrisis 4,030]

5 trips to LOS and no problems!

[baht_miser 9]

American Express is the kind to get, they are known world-wide. I have never had a problem with them.

[lovedog100 1,372]

You will actually get a better exchange rate with travelers checks in Thailand. I have had to sign them 3 or 4 times because the lady thought that my signature looked different. She cashed them though, and it was only at one place that I had that problem. I read a trip report on PI yesterday and it said that they had a hard time cashing them there.

[Scottie 5]

Hi

Used AE cheques last week and had no problems

Scottie

[kikc69 45]

Thanks to everyone. You all took away a few worries I had.

[biggles 509]

lovedog100, its not just that it can be hard to cash them (most hotels and banks will do this) its that they charge a huge commission. 8-10% is common. I remember on fields ave about eight months ago money changers were quoting 31 pesos to the aussie dollar while TC were 26. I didnt cash mine, just hung on to them and used cash.

[bvthunder 3]

The place I go to takes ONLY American Express -- no other brands.

[pokey 0]

lovedog100, its not just that it can be hard to cash them (most hotels and banks will do this) its that they charge a huge commission. 8-10% is common. I remember on fields ave about eight months ago money changers were quoting 31 pesos to the aussie dollar while TC were 26. I didnt cash mine, just hung on to them and used cash.

 

Don't know what you are referring too mate. Was in town in Feb/Mar 2010 the only commission charged was a 30 Baht commission/admin charge per transaction. Further to the above my TC's were getting a half a point more than cash. To the original poster, no worries bring Amex TC's.

[biggles 509]

Don't know what you are referring too mate. Was in town in Feb/Mar 2010 the only commission charged was a 30 Baht commission/admin charge per transaction.

 

Pokey, I was answering lovedogs comment about cashing cheques in philippines. "I read a trip report on PI yesterday and it said that they had a hard time cashing them there. " Thats why I was quoting the pesos exchange rate not baht which I would have used if I had been talking about thailand. You are correct that they charge 30 baht a cheque in thailand but this is not what I was referring to.

[jimmac 66]

Why waste your time with travelers cheques? Use an ATM machine.

[biggles 509]

jimmac, Its a matter of cost. If I use an atm with my foreign atm card the thai banks charge me $5, the australian bank charges me $5 plus they charge me 1% of the amount I withdraw and give me a shitty exchange rate. this is on every withdrawl.

I only use the travellers cheques to deposit australian money into my thai bank account, one visit only. I then use my thai ATM to withdraw baht with no charge. It makes sense to me but if you have lots of money to spend it might be too much trouble for you. lucky you!!

[jacko 8,762]

jimmac, Its a matter of cost. If I use an atm with my foreign atm card the thai banks charge me $5, the australian bank charges me $5 plus they charge me 1% of the amount I withdraw and give me a shitty exchange rate. this is on every withdrawl.

I only use the travellers cheques to deposit australian money into my thai bank account, one visit only. I then use my thai ATM to withdraw baht with no charge. It makes sense to me but if you have lots of money to spend it might be too much trouble for you. lucky you!!

Why not just make an International transfer to your Thai account prior to your trip.

Better exchange rate, you avoid the TC commission and also the 33 baht fee and tax per TC. You do of course have to pay for the transfer, and there will be a charge when received but for me it is more convenient and works out better.

[biggles 509]

You might be right but I dont pay a commission to buy TC, and the wire transfer fee from aus to los is usually higher than the fee to cash the tc cheques in los, not much but its higher. also I can cash the TC when I want to (exchange rate change) and if I dont need all the money I can keep the cheques for later. the transfer is probably easier in many ways but TC suit me at the moment.