American Express Travelers Checks

mjarrels · Dec 20, 2006

I have used them successfully all over the world but now I'm stuck with a couple thousand dollars worth that no one in the Phillippines will touch with a ten foot pole? When I use to live here, had Navy Federal Credit Union offices so cash was never an issue. I had always thought banks had to honor these things but I must be wrong? I really don't want to carry them all the way back to the states just to cash at a loss. Cost me $2.00 per hundred to get in the first place. Any suggestions?

mark

BTDT · Dec 20, 2006

If no one there will honor them, won't AE give you your money back when you return? How did you get there, will cruise ship honor them? What about an American Embassy? I'm just throwing out stuff here, not sure how it's supposed to work. What has happened there that they won't cash them?

MadReferee · Dec 20, 2006

When I was traveling a lot I just brought the unused ones back and deposited them back into my checking account. Never had any problems depositing them into a bank or credit union and never took a loss except for the original fee. The AMEX checks were in US dollars.

The probable reason why no one wants them is that they are useless on the black market. Real greenbacks talk, checks walk.

MikePA · Dec 20, 2006

mjarrels said:
I really don't want to carry them all the way back to the states just to cash at a loss. Cost me $2.00 per hundred to get in the first place. Any suggestions?

mark

I'm not sure why you think you'll have to cash them at a loss. You can use them in the states just like cash, e.g., a $100 AE Travelers check will buy $100 worth of plywood at Home Depot.

EddieWalker · Dec 20, 2006

If the banks in town are giving you a hard time, try the airport. The banks there that exchange money are usualy able to accept and exchange just about anything.

Of course, you could call American Express and ask for a bank that will take them.

Eddie

California · Dec 20, 2006

One of my Peace Corps buddies arrived in-country late at night, and paid the hotel in advance for a week because he was scheduled for orientation in the capital before going out to his site. We didn't earn much and this used up nearly all his travel advance.

An hour later the front desk called and said they couldn't take his travellers checks since that bank wasn't represented in this country. So come down and get them. And please bring cash to pay for your lodging. He went down and the clerk had written 'VOID' on all of them.

I think it was months before he got his money back.

Kubotasrking · Dec 20, 2006

mjarrels said:
I have used them successfully all over the world but now I'm stuck with a couple thousand dollars worth that no one in the Phillippines will touch with a ten foot pole? When I use to live here, had Navy Federal Credit Union offices so cash was never an issue. I had always thought banks had to honor these things but I must be wrong? I really don't want to carry them all the way back to the states just to cash at a loss. Cost me $2.00 per hundred to get in the first place. Any suggestions?

mark

I assume your reference to losing money is the cost of purchasing the vouchers to begin with... If that is the case, that money is already spent. No matter if someone in Manila cashes them or someone in New York...they money is already spent. Take them back to American Express in the Phillippines....they advertise their superior global service.

Dusty · Dec 20, 2006

The reason that they don't want to cash them, is that there are so many counterfeits in circulation. I had a counterfeit American Express Check returned to me through my bank, and it took about 3 months. I had to absorb the loss.