Printable View
Have never used Traveller's Cheques...always brought cash. Know it would be alot safer to use travellers cheques but don't have a clue about them. Is there any problems cashing them at the Cambio? Do you get them in certain denominations? What happens if you lose them...are they guaranteed? What if you don't use them all? Can you change them back to cash when you get back home?
That is the only time I use travelors checks is in Negril, they are no problem at the cambios as long as you have ID. Sometime it takes a while for them to find them at the bank when buying them.
And if you dont use them all you can cash them in at the bank, or I like to save them for next trip, its like bonus spending money.
Do they have an expiration date???
Also wanted to say that I use 2 different banks where I live. Chase charges 3% for the checks. Not sure if M&T Bank even offers them. Couldn't find anything on their website so I'll have to stop in.
I always use them. At my bank in Canada only charged 1% for American Express Traveller's Cheques. I usually get 50's and 100's and then cash them in $100-$200 at a time. We cash them at Banmark in the westend or at the Hi-Lo when we are shopping just with photo ID (driver's license). I find them very convenient and yes if you lose them they will be replaced. You just keep your copies separate from the cheques so if you lose them you have a record...you could even leave the cheque numbers with someone at home as well then you have extra backup if you lose the copies. They never expire and are replaced quickly if lost or stolen. I find it more convenient than going to the bank machine and the 1% fee is lower than charges at the ATM.
Here is some info:
http://www212.americanexpress.com/ds...00defaad94RCRD
In Canada CAA which is the equivalent to AAA is US gives tr. chqs. with no fee. If your an AAA member check it out
If I take TC (sometimes I do, sometimes I don't), I get them at AAA for no cost as Boogzy mentioned. Many cambios will give a slightly lower exchange rate for TC than cash. Taking a mix of $$$ & TC works well. If I have any left when I return home, I either use them at the grocery store where I get very strange looks or just deposit them back into my bank account. Good pointers already given on keeping the numbers secure. I've never lost any but it's nice to have the security just in case of a worse case scenario.
I've always taken TCs and £100 in Us$ in low notes for tipping on way, had no problems changing them at any cambio just needed to show photo ID and sign in front of casher,
I'm a AAA member so get the free ones there. I cash them at cambios as needed. Usually get a combo us $100, $50 and $20's.
They give you the serial #s on a piece of paper, put them somewhere away from the checks in case the checks are lost or stolen. I'll often leave a copy of the serial #s at home too, so I can call home and have someone there handle getting the replacements for me.
I carry both TC and cash but I've never used either.
I use JA exclusively from landing to take off.
The ATM is cost free for me, has the best exchange rate (JA Gov't rate at the instant you get the cash). Never had a problem.
The ATM I prefer is the NCB at the Petco next to the aerodrome.
Thanks for all the info...I'll have to look into how much my bank will charge and see if it's worth doing. How much less
is the exchange at the cambio? Also, I have a Scotiabank card and have used the ATM before for a fairly good exchange rate...just wondering though if the ATM is reliable enough to count on for cash? Is there ever an occasion where the ATM is down or simply out of money? Don't want to leave myself stranded with no cash.
Occasionally ATMS are down or without cash, yes. Maybe plan to use those but buy some TCs for emergencies? But also check what your bank charges for overseas/not-their-bank ATM use. Some have really high fees.
As I recall IF the rate for TCs is lower than cash, and it isn't always, it's a J$ or 2 per US dollar less.
I have always received the same exchange rate using TC at the cambios.
Scotia has 2 ATM's outside, one that gives JA or USD, the other JA only. (Is there also an ATM inside the bank?)
The ATM's are serviced frequently.
Ive never had a problem w/ TC... never been given a lower rate of exchange, and feel much safer when I don't have a safe in the room.
On my visit last month the ATM was paying $85.66
Just remember-ATMS can run out of money easily, and of course power outages (something not unusual) plus if your card gets eaten,etc. by the machine(it wont be easy to get it back-or even if you can just simnply get back form the bank-dealing with those things arent easy like the usa)-Just always good to have a back up plan (TC,cash,an extra card)
definitely use checks.....even if it costs you...and cash them in a hundred at a time
AmericanExpress travelers checks are FREE to card-holders (i.e., no fee(s))
Thanks again for all the advice and tips! I have an American Express account...I'll have to check into the travellers cheques. Sounds like it is the safest alternative :)