How are travellers cheques cashed once i leave my country with one?

Question

I usually hear of these types of cheques. Incase my bank offers me one but its a local bank, with no international branches, how will i be helped

Answer 1

I always travel with traveler's cheques....but never with the intention of using them. I live in Jordan and there is a stiff fee for cashing one, even though they are supposed to be treated just like cash. I've found that most local businesses don't accept them, but you can take them to any cash advance or wire transfer place like Western Union to get them cashed. I haven't had a problem in Amman, but I'm sure I'd be stranded if I lost my cash in a smaller village. Just be sure you keep the receipt copies in a secure place NOT with the checks themselves. In case your checks are stolen, you'll have to be able to show them the copies as proof. The other thing to think about is the fact that in many countries, forgery is probably not as difficult a task to accomplish as it might be in the U.S., so someone might easily be able to sign the check and get it close enough for the clerk to accept (which sometimes isn't all that close). Bottom line is, yes, it's good to have traveler's cheques as a back-up currency (I usually go with about $150 in traveler's cheques--however much you think you'll need to get you by for a few days until someone can wire you more if you find you're without access to cash--and the bank you get them from doesn't really matter if they're issued by American Express), but it might be easier to carry a back-up emergency credit card or a bank card you can use with an ATM.

Answer 2

Travellers Cheques are issued by a Bank or on behalf of one. If the cheque is issued with the intention of being encashed in the country of origin only, it will be clear on the front of the document. If it is, I doubt it is genuine. Call at any Bank and ask the question and save your worries.

Answer 3

As long as the place you're going to accepts them, they're treated just like cash. In the US, they're usually in $20 increments, so it would be like handing over a $20. You'll get change. I'd go with American Express traveler's cheques for most places overseas, but it kind of depends on where you're going and what you'll be doing.

Answer 4

With a Drunken Duncan

Answer 5

With great difficulty