Currency of Travellers Cheques (Checks) - Canada OK? Or US?

[Grandpollo 366]

Since I live here, the CAD is stronger and I'd lose 2 or 3% to buy US is it OK to change CAD dollar cheques at the change bureaux or banks?

 

I pay no commission to buy them so just the cashing fee would be the only cost of using them, less than an ATM. And I should get 1% or more than for USD.

 

My previous travels in Central America were US$ only, cash only (the banks will sell the cheques then spend an hour cashing one for 5% commission). No CAD, no GBP, no Euros. No money from the neigbouring countries either now that I think of it. Darn helpful.

Edited February 6, 2011 by ricktoronto

[jacko 8,820]

Since I live here, the CAD is stronger and I'd lose 2 or 3% to buy US is it OK to change CAD dollar cheques at the change bureaux or banks?

 

I pay no commission to buy them so just the cashing fee would be the only cost of using them, less than an ATM. And I should get 1% or more than for USD.

 

My previous travels in Central America were US$ only, cash only (the banks will sell the cheques then spend an hour cashing one for 5% commission). No CAD, no GBP, no Euros. No money from the neigbouring countries either now that I think of it. Darn helpful.

Since an exchange rate for $CAD Tchqs is listed on the Bangkok Bank and SCB web pages I believe you will be able to exchange them.

[gaijin 146]

Fuck, it's a sad day when the CAD is worth more than the USD.

[jacko 8,820]

Fuck, it's a sad day when the CAD is worth more than the USD.

So is the Oz dollar... it's a third rate currency these days.

[Grandpollo 366]

Since an exchange rate for $CAD Tchqs is listed on the Bangkok Bank and SCB web pages I believe you will be able to exchange them.

 

Good to know and thank you.

[Grandpollo 366]

Fuck, it's a sad day when the CAD is worth more than the USD.

When the Hong Kong dollar gets there you will have a really dire situation.

[jacko 8,820]

Good to know and thank you.

Be sure to tell them these are Canadian, not those cheap ass tumbling down yank things!

[Grandpollo 366]

I'll say "I need to change some travellers cheques, eh?"

[symmer 1]

As long as you stick to American Travellers Cheques and high denominations you will be fine. I only bought $500.00 ones, as each one costs to cash in. You probably will get a bit better exchange at the banks but its not likely going to be a lot. Well good luck on your trip.

[roorsoldja 325]

I brought cash with me and it works fine but i did notice the 50's and 100's usd get about the same as the canadian dollar but no point in exchanging.

never used a travllers cheque so i can't help you there.

[exwannabe 1]

For TCs they change these at the "real" exchange rate plus a fee per check. So regardless of currency bring the highest denomination you can get.

 

On cash, they charge a vig off the interbank rate to cover the cost. The Canadian dollar will not do well on this because they will need to send these back to Canada whereas the can sell the US $100 locally.

 

Many confuse the exchange rate with the transaction cost.

[JohnnyK 28]

I always use Amex TCs in $CDN. No worries at all rick.

[maipenrai 476]

Rick, I would advise getting traveller's cheques in $500 denominations, but don't wait until the last minute to do it as many banks don't carry them in their inventory and may have to order them - I was lucky in that the Royal Bank I deal with in my home town just happened to have enough for me. As for cashing them, some places are easy and some seem to take forever; I cashed a $500 cheque yesterday and had to go to four different places to accomplish it, as two said their "system" was not working, another was out for lunch, etc.....also for some reason in Pattaya they insist on knowing where you are staying whereas in Bangkok last week it was not an issue and the whole process was quicker and easier there.