logos999

Yes, janisj of course that's correct. TC are pretty lame compared to using an ATM, but what if the options are cash versus TCs. Here TCs win.

NeoPatrick

Logos: "Amex desn't charge anything for cashing checks in Europe you've bought YOURSELF from them anywhere. (receipt needed) That's a fact. You need to find an office and there are still plenty of them. If you buy €-checks in the US, you get face value at Amex in Europe. Other statements regarding this are simply not true."

I hope none of that is aimed at my statements. I agree with every word you say -- regarding TCs which were purchased in euros, but what you don't mention is that if you walk into an AMEX office in Europe with AMEX US dollar TC's, their exchange rate IS likely to cost you upwards of 10%. I know that from personal experience. There may be no fee, but they do NOT guarantee a currency exchange rate, and the last time I looked some of those were really horrible!

logos999

No, it's not aimed at you, it's aimed at those statements that claim cash is an option, when it's actually the worst option there is. And even Amex is promoting this. (not telling, how much better ATMs are)

logos999

And yes, this (cash very bad idea) only applies to WESTERN Europe. As soon as you get into CZ for example, you'll notice the money changing offices offer better rates for USD in cash.

NeoPatrick

Yes, I still remember traveling in Turkey in 2000 where a number of hotels told us in advance we'd get a 10% discount for paying in US cash (including US dollar TCs at face value). That's one time I happily took some US dollar TCs.

Guenmai

I paid my whole hotel bill in Istanbul with U.S. dollars back in 1999 and also got a 10% discount. Happy Travels!

evanjva1

I just got back from Ireland and used the ATMs to get my daily need of Euros. When I got home and checked my bank account I got exactly the daily money market exchange rate for the transaction. I have found that to be true in England, Scotland, and the Czech Republic also. I can't speak for Germany since I have not been there since 1976 but it probably is true there also. Maybe some other forum member has used German ATMs.

prr761

If you have a gold Amex card and plan to use Amex offices to cash traveler's checks, why not instead, take a couple of personal checks and cash them as needed in the exact amount you want. I think they limit the amount or number of transactions you can make in a daily or 30 day period, but it is a fairly large amount. Check on that. A couple of years ago, when in Rome, my bank put a hold on my ATM use (protecting me?). I went to the Amex office, and wrote a personal check in the USD amount, and received what I felt was a great exchange rate in Euro. A couple of personal checks (don't take a whole check book)is much smaller bulk than TCs.

We had a terrible time in 2005 cashing TCs in Greece and Turkey. Only American Express banks and the 5-star hotels (if you were a guest)would do it. They charged a whopping fee, as well as a poor rate of exchange.

Sorry for the long reply, but my advice is not to use TCs, but use an ATM card and only a credit card if no other choice, unless the issuing bank does not charge a cash advance fee. AND take a couple of personal checks, if you will be in cities with AMEX offices.

Michel_Paris

So in other words TCs are not best option...either you buy in your local currency at home for free and convert to local over there and get whatever exchange rate they want to charge....OR you buy at home in the desired currency and pay whatever rate they want to charge and convert for free over there. Pay or Pay

I'd agree it is better than carrying dollars over to Europe, but I hope people don't do that. And if it is euros you are carrying in cash from home over to there, once again we're back to what did you pay to get those euros?

Seems we're back to using ATMs

Michel_Paris

...(Western Europe)...

platzman

Hats off to the marketing geniuses at American Express. They have convinced lots of folks that their vacations will absolutely end in catastrophe unless they carry travelers checks. This, despite the existence for more than 15 years of dependable ATMs and widespread credit card acceptance.