US Dollar Travellers Cheques

[pacman9a]

Hi

I've just been chatting with my local friendly bank manager about taking currency abroad and he suggested that taking American Express US Dollar travellers cheques rather than cash is safer and convenient. The point I wanted to check with all you good people out there is:

He said that you could use the travellers cheques as currency in shops or restaurants, say you buy something for $75 and hand over a $100 cheque, the shop or restaurant will hand you $25 change in cash. Is this true in your experience? How widely are they accepted, is it all shops and restaurants or just a few?

I would have the security of replacement cheques being issued in 24hrs if they were lost or stolen but cash is accepted everywhere!

TIA

 

[minimandymouse]

all is true they are accepted everywhere but you must produce picture id
i.e passport

 

[wayneg]

$US TC are accepted just about anywhere, just use as cash. You need to carry ID as sometimes you are asked for it. Only places I know with problems are Golden Corral they stopped accepting over a year ago, other is Walmart, some have posted problems but other say they are accepted so not sure of their policy.
Personally I don't take cash or TC's, I use a fee free credit card, usually better interest rate and no hassle with exchanges.

 

[grannyed]

We usually take $US travellers cheques and a no fee credit card never had a problem using the cheques.....just like using cash - some will ask for photo ID but our driving licences were accepted without probs

 

[robinb]

I'm an American who travels all over the world. I use my credit card as often as allowed. For cash, I simply use my ATM card to get cash in the country's currency from a convenient Automatic Teller Machine. ATMs are everywhere in the US, even in each WDW park and at all WDW resorts! You will have to pay a fee, about $2-$3 per transaction and your bank may also charge you a fee. Of course, you'll have to pay the bank back at home for the Traveler's Checks, so you're going to have to pay someone.

One thing I recall from exchanging foreign currency back to my home currency (or that of the next county) is that the currency exchanges in the airport do not take loose change (coins) and they usually do not take small bills. You may want to consider trying to spend your change or $1 bills before you leave or check with the exchange on the way out of the airport so you are prepared. Our money is boring, you don't want to take any more of it home than you have to.

 

[Obi Wan Kenobi]

One thing to remember is not to have TC's in denominations of over $50, as at night many places do not have more than $50 in the tills to dissuade theives. Its the same with cash, nothing above $50

 

[wicket2005]

We always take a combination of cash with us, money, TC and credit cards as if one is lost we still have other means of payment at our disposal, not that this has ever happened.

We usually just cash our TC in at the hotel we are staying at, never been any problems. I noticed Golden Corral not taking TCs too. We usually just use credit cards everywhere we can, and the TC for cash for places like stalls in the parks or where cash is a more sensible option. I wouldn't take a vast amount of cash with me in case it did get stolen or lost, better convert to TC (no fee involved) and use credit cards.

 

[DISWolves]

We buy TC's when the exchange rate is high, otherwise just use fee free credit card (was Nationwide but now Post Office). TC's that I will be spending next month, I got at $2 = £1

 

[wilma-bride]

We have stopped using TCs now as we tend to get hte travel currency card. Find it really convenient as we don't have to worry about having exra cash for a tip or making sure we get enough change from our TCs to leave a tip.

Your bank manager is definitely right, though, that TCs are much safer. We generally do not take much cash at all - just a bit for odd small purchases like drinks and snacks and the kids tend to take their spending money in cash.

 

[pacman9a]

We were planning to take cash and credit cards but will now swap majority of cash for travellers cheques.

Thanks for all the info

 

[wayneg]

Have you already bought your Dollars? The way your last post reads you have and now going to swap the $'s to travellers cheques.
If I have read correctly that could be an expensive thing to do, I believe you will have to pay a fee to change back to £ then a % to convert to T/C's.
OK if you have not bought yet then by all means buy T/C's but if you have already bought $Cash then I would stick with that.

 

[BoingBoingBaggie]

One thing to remember is not to have TC's in denominations of over $50, as at night many places do not have more than $50 in the tills to dissuade theives. Its the same with cash, nothing above $50

Oh dear - alot of our TC are in $100 - hopefully the desk at POR will be able to change them before we go out for any days out.

 

[Miss Mo]

I have always taken TCs when I've been to the states and have never had any problems at all in Florida or anywhere else. Have also never had any problems with $100 other than an occassional very small bar or shop or whatever but then I'm hardly ever spending much there anyway so tend to have some cash left from previous purchases. I like the idea of the currency credit card but I'm not good with budgets so like to take all my spending money in TC so I know exactly how much I've got left and whether it's spend or be a bit cautious time!!

mo x

 

[hotfudgesundae]

We always take travellers cheques and have no problem with them. DH often changes them at the check in desk at the hotel. The usual limit is $200 per day.

 

[pacman9a]

Wayne, I haven't bought my dollars yet, still hanging on hoping for a rise of another few cents

 

[clazza]

$US TC are accepted just about anywhere, just use as cash. You need to carry ID as sometimes you are asked for it. Only places I know with problems are Golden Corral they stopped accepting over a year ago, other is Walmart, some have posted problems but other say they are accepted so not sure of their policy.
Personally I don't take cash or TC's, I use a fee free credit card, usually better interest rate and no hassle with exchanges.

Hello WayneG could I ask which fee free credit card you use

 

[wayneg]

Wayne, I haven't bought my dollars yet, still hanging on hoping for a rise of another few cents

Would be nice for a little rise forAugust but I am more than happy above $1.60 after the $1.37 rate a few week back

Hello WayneG could I ask which fee free credit card you use

I have used Nationwide for past few years, been a great card and saved me a small fortune, I estimate well over £1,000 but unfornately they have introduced a fee, only 1% but Post Office CC is still free so got theirs now, just recieved my 2nd statement today. Paid cruise off with it got full interbank rate.

 

[Funky_dino]

I usually use TC's to pay for things like park tickets etc. Have been using them for years and never had a problem

 

[Mrs Doubtfire]

I normally have $100 t/c - you can change them at WDW & the other theme parks without a problem. Normally try to change 1 or 2 so I have plenty of cash to use off site each day.