Information about travelers checks?

S

skip

Veteran XV
I'm going to Costa Rica for a week at the end of August. One of the friends coming along suggests I get all my money in travelers checks because if it gets stolen, the money is insured or something?

I've never gotten a travelers check, but would someone explain what they are and how they work? And I'm assuming you get them at the bank.
 
waste of time and money

they aren't accepted like "cash" hardly anywhere in the world

YOu are better off just using your credit card and an ATM card.

I've used my MAC & Visa in at least 8 odd countries

Travellers checks you need to exchange sometimes ina bank and shit.. Don't do it.. waste of everything..
 
You buy them at the bank and then you 'cash' them or use them to pay for goods and/or services (although all places don't take them). Most major hotels will cash them for you.

They come with a copy so that if they are lost or stolen you can get them replaced. American Express is the best vendor, they offer the most benefits.
 
Yes you do buy them at a bank. My bank charges $1 for every $100 dollars bought. You can get them at no cost sometimes if you have a special checking account or something. The way they work is you buy checks in denominations. For example a pack of $500 dollars worth with five $100 dollar checks. The way they work is when you buy them, you sign the top. When you cash them in, you sign and date the bottom. The person that cashes it should match the signatures to see if the check belongs to you. All the checks have serial numbers on them. If stolen, you call a number (provided in the pack) and report which serial numbers were stolen.
 
I see, and they cost extra to buy?

according to targets description. they don't sound that bad. I might get $200 in travelers checks for the hotel etc.
 
dumb move

You can use your MAC and get the country's currency right out of the machine..

Those trav. cheques you'll be taking a hit buying them and cashing them in.. trust me.. I tried them - waste of time and money.. MAC card + Visa is all you need and some US cash..
 
Yes, usually you will be charged for them. Unless like I said you have a special account or balance or something at the bank you are getting them for. $1 per $100 is a normal price. They come in denominations of $20 $50 and $100 dollar checks (maybe more I forget). But, you can't just buy $140 for example. They come in predetermined packs. When you do get them, they come with the checks and receipts for each check. Whatever you do, don't keep both of them together. If you lose the checks, you'll lose the receipts too.
 
1$ for $100 doesn't seem that bad. Can I just keep the receipts at home? Or do I need them when I cash them in.
 
Just keep at home or in another bag. There are a bunch of international numbers you can call to report them lost/stolen. They are not used when cashing in the checks. They are only used if lost/stolen.
 
skip said:
1$ for $100 doesn't seem that bad. Can I just keep the receipts at home? Or do I need them when I cash them in.
Click to expand...

Keep the reciepts with you, but seperate from your money, however record all the info on them with someone who you can contact back home.
 
MAC is an ATM network.. Like STAR, Cirrus, etc..

They have all that shit in every country I've been too.

You can't go to a store and hand them a traveller's cheque.. They'll be like - Yeah, I';ll take that + XX$'s to cash it for you.

Why go through all that? Just carry a lil US cash and use an ATM card..
 
You must log in or register to reply here.
Back
Top