How do you cash traveler's cheques?
I'm going to England towards the end of next month and I have x USD in American Express Traveler's Cheques. Last time I went to England I brought USD in cash and got Pounds for it at the currency exchange at London-Heathrow.
If I take my traveler's cheques to a currency exchange at the airport, will they give me cash for it? Or will I have to go to a bank?
Comments
I can't answer your question as I didn't know that anybody even used travelers checks anymore. Many places in foreign countries wont accept them. Most travelers take some cash and use an ATM card. Whatever you do try to avoid currency exchanges at the airports are they are one of the biggest rip-offs there is. I usually exchange $100.00 at the airport just so I have some local cash to start, after that I avoid currency exchanges like the plague. You should attempt to redeem the travelers checks where you bought them.
Either way. I do not recommend the use of Travellers Cheques: they cost a bundle just to exchange, plus the usual exchange fee. They are a waste of money. Use USD and exchange a the bank or money exchange office (or at the airport). And use either your debit or credit card overseas.