Are Travelers Checks Still Around?

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1

Are they still ‘a thing’? Do people still use them for trips abroad?

I found a couple of AmEx Travelers Checks ($100 value) that had been tucked away in a keepsake box along with mementos from a family trip. (It’s a bit scary since they’re probably 18-20 years old!) Haven’t used TCs in many years and I’m not even sure they’re still around. Is it possible to cash them in at a local bank?

2

You should be able to, although they may have to send them in to make sure they are still valid and weren’t cancelled. There should be a date on them.

Yes, you can still get traveler’s checks but with ATMs and credit cards, there is little need for them any more. I took a trip about 10 years ago and still used them (to China) and honestly they were a pain to cash in at hotels or banks. Much easier to use an ATM or a prepaid Visa card.

3

https://www.americanexpress.com/us/travel/travelers-cheques/index.html

4

I have a Bank of America 20 British Pound travelers check that I must have purchased in 1986. I have been unable to cash this check. I have tried several avenues. I guess I should frame it and hang it on my wall.

5

We went on some trip a long while ago…probably also in the 80’s or 90’s and got travelers checks. We found that a LOT of places didn’t take them even then. We brought back a bunch of them, and couldn’t use them here either.

I actually went to my bank to cash them in…because supposedly they are as good as cash.

When traveling now, I believe most currency exchanges prefer USD…in $20 bills or something like that. Or just use your credit card or ATM in the other country.

6

Thanks @rutgersmamma for starting this thread, and @doschicos for the link. I’ve had one tucked in the back of my wallet for decades, just in case. Turns out I can take it in to my local Bank of America and cash or deposit it.

7

Finding “free” money is always fun. :slight_smile:

8

Travelers check is not really used and you will have problems to cash it overseas, even if you can, the exchange rate and fees could be very high. Better yet, get a no-fee Debit card(we use Charles Schwab, there are few others), you can get local currency any time at a foreign ATM without a banking fee or foreign transaction fee and the exchange rate is excellent.