NeoPatrick

I mentioned a month or so ago that I am renting apartments in Paris and in Venice this summer directly from owners. Neither is set up to accept credit cards. I needed to send a 300 euro deposit for one and 200 euro deposit for the other. Bank transfers were very expensive, for such small amounts. I ended up buying Visa Travelers Checks in euro from AAA, as both said they could accept those and their banks would not charge them for depositing them. I paid between 4 and 5 % over current exchange value to buy them, so it cost me a total of $18 for the 300 euro deposit and $12 for the 200 euro deposit. I sent them regular mail. I have now heard back from both owners who received the checks, deposited them in their banks, and were NOT charged anything for doing so.

I still maintain this was FOR ME IN THIS SITUATION the best way to send the deposits. I just wanted to pass along that those who insist that European banks charge their customers a fee to deposit Travelers Checks in euro probably don't know what they are talking about, or they are just using the wrong bank.

So before you spend $25 or $35 for a bank transfer which also may not have a good exchange rate, I think sending TCs can be a good alternative.

Carlux

If the travelleres cheques are lost in the mail, or stolen, do you have any recourse? We have accepted them once or twice in the past (can't remember whether we were charged to deposit them or not) but it always seemed to me to be dangerous for the sender.

NeoPatrick

AAA insisted that if they were not received by the person (lost in mail or stolen) that it is the same as if we lost them, that we would be reimbursed. That seems odd to me as we signed them twice before sending them, so they are essentially like cash. You are supposed to write the name of the recipient on them, but I failed to do that as I didn't see a blank for that -- they are a new format.

But I've sent hundreds of letters and cards to Europe over the years and to my knowledge, none have ever been stolen or lost in the mail. They are sent in a plain envelope, and there is no reason for anyone to suspect they contain money. Of course it's not foolproof, but then is using a credit card?

Michael

Whether the recipient's bank charges or not may depend on the country. One B&B owner in Belgium originally refused by check from a bank in France, hence written in euros, because her bank would have charged a prohibitive fee for depositing it. My cousin claims that this is also the case in Germany.

NeoPatrick

Michael, I think you're talking about a totally different thing. You seem to be talking about a regular bank check written on a foreign bank (even within Europe), but I'm talking about a travelers check which is in euros and really is just like cash.

Michael

NeoPatrick,
Checks are simply not used in Germany, and incur charges when being deposited. In such a case, a TC would constitute a foreign check. In fact, a TC is not cash as it has to be processed to collect the cash regardless of where it is deposited.

Barbara

Neo, I've sent Travelers Checks to owners in Scotland and had no problems.

I do think that if an owner does not accept credit cards, then any cost to them in accepting deposits via alternative methods should be counted as the cost of doing business and not passed on to the customer, ie: the person renting the apartment or whatever. Of course, that probably isn't the case, but even within Europe what do they expect?

NeoPatrick

Michael, I don't really want to argue with you, but a VISA Travelers Check is NOTHING like a check written on a foreign bank. Have you ever gotten a Visa TC and tried to deposit it in your bank? If not, then please don't guess what your bank would do. I can assure you that it is NO charge for any European bank to get their cash from VISA for one. Most European banks will accept them as deposits to their customers without any charge. If your bank charges you as a regular account holder to deposit a VISA TC that is in euro, then you need to look at another bank (if you were ever to want to do that) as most banks will not charge their customers at all, just like they won't charge their customers who walk in with three 100 euro bills cash to deposit. That is not the same as a foreign check written on a foreign bank, nor is it the same as a stranger walking into the bank and asking to cash a Visa TC, for which the bank may charge.

gracejoan3

Neo Patrick,

The place in which to place the to whom to pay is just to the left of where you originally signed. Their format is very strange and not for those with long names!!

It was dangerous the way you sent them, as you said. They were openly payable to anyone!!

It should be as safe as mailing any checks in any postal service, for whatever that is worth!!

NeoPatrick

Yea, I returned from AAA that day, anxious to get them in the mail. I looked at the checks and really didn't see a place to put in the name, so sent them after double signing them, and then got to thinking how dumb that was -- that there must have been a place. At least, both owners received them OK, deposited them, and confirmed there was no charge from their banks to do so.

Rastaguytoday

I recently put down a deposit for an apartment in Aix-en-Provence. It turned out the owner took Paypal. It cost a bit more in surcharges, but there was no uncertainty. You might want to think of this aspect of payment.

NeoPatrick

Paypal is fine and I have made deposits that way also, but neither of these owners are set up for it. One was interested when I explained it to her, but at this point is still not taking it.

Carlux

Well, we accept Paypal for our rentals because it turns out to be virtually the only way a small operation - as distinct from a registered business - can accept credit cards. But it cost us 3.9% on every transaction,which some people are not prepared to absorb.