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Travellers Cheques

NZ
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139 posts
27 reviews
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Travellers Cheques

I am comming from NZ and want to avoid all the additional charges if i use my credit card - are travelers cheques easy to get cashed in San Fran? what sort of additional fees/charges am I likely to incur for this ? - thanks ;)

Santa Cruz...
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for Santa Cruz
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1. Re: Travellers Cheques

Traveler checks are not really in favor anymore. Some places will not accept them.

When we travel nowadays we either get cash from ATM's or use our credit card. I think you would lose on the exchange rate by using traveler's checks, as opposed to the above, even though you may be charged a small percentage fee for the credit card and ATM, since it is not your bank.

Down Under
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for San Francisco
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2. Re: Travellers Cheques

I still use Travellers cheques and never have a problem.

Cash them at restaurants, shops .

Don't cash at banks as they will charge you a fee and obviously small hole in the wall shops and restaurants will not cash them ____these sort of places are usually cash only but generally you will not have a problem.

Caerphilly, United...
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3. Re: Travellers Cheques

We were changed $3.00 in SF and $2.50 in San Diego each time we used an ATM no matter what amount we drew out, and received the full banking exchange rate on that day not the tourist rate.

As on average we took out $300 each time this only meant a 0.8 - 1% charge from the US bank (less whe we withdrew more), luckily we have a UK bank account that doesn't charge us for withdrawals abroad, but even if we wer charged a small fee (from July 09 we will be changed 1% outside of Europe) I still think using an ATM or creit card and getting the full banking exchange rate is the best option.

As an example, when we were in New York a few years ago and the pound sterling was at its highest we exchanged cash in an AMEX office and received $1.92 to the pound, when I received my credit card statement on my return I saw was getting $2.02 on the purchases I made on that.

Down Under
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for San Francisco
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4. Re: Travellers Cheques

Most banks in Australia and New Zealand have excessively high fees and will charge a fee each time you use the card and also a percentage foreign currency exchange fee as well for each transaction.

They push the use of ATM cards simply because they can make more from it.

Obviously buying at the right time for travellers cheques is important and that has become harder to do in this economic climate.

NORTH CAROLINA
Destination Expert
for Oahu
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7,278 posts
16 reviews
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5. Re: Travellers Cheques

Don't know where you are staying but most bigger or chain hotels will cash your travellers checks up to a certain amount per day if you need some cash. I think most places will still accept travelers checks.

San Diego...
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2,225 posts
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6. Re: Travellers Cheques

Hi, I also posted on your Las Vegas question. I wanted to add that VISA and MasterCard credit cards are widely accepted even for small purchases.

Check with your bank, but for foreign use, we are charged the bank exchange rate plus 1% . Also as indicated by another poster, ATM fees are generally a fixed $3 + whatever your bank charges, but even at a total fee of $6, this is only 2% for $300.

I think you will find travelers cheques inconvenient, although they do provide good safety and I think still easy to cash at Las Vegas casino cashiers.

Mill Valley/Marin...
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7. Re: Travellers Cheques

Personally, I find that travellers cheques are becoming obsolete. Don't be surprised if you go to an independent shop or restaurant and they don't take them. I am sure most large institutions still take them, but small businesses probably prefer to not.

San Francisco
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26 reviews
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8. Re: Travellers Cheques

I too, think Travelers Checques are going the way of the do-do bird. First of all, you have to pony up your money in advance to buy them. While if you're using a credit or ATM card, your money remains yours for a lot longer.

Futher, as others have said, they aren't as widely accepted as they once were.

Finally, I can remember having TC's in French Francs hanging around from one trip to another ... tell me I didn't lose out on that!

Much better, not to mention more convenient to use a credit or ATM card. Even if the charge is more than a TC, the convenience factor should be considered.

9. Re: Travellers Cheques

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