I am trying to make reservations for a small B&B in Sancerre, and they want a deposit in Travelers' checks in euro. How on earth do I go about this? I suppose I could call AAA and see what they have to say. Thanks for any info.

Grandmere I sent deposits for two apartments on this trip in Euro travelers cheques (Venice and Paris) as both owners said they can depostit them in their bank accounts easily and with NO charge if they are in Euros. I got them at AAA. It was about 5 or 6 percent above current XE rates, Since it was only a couple hundred euro total, it was still cheaper than most bank transfers and other means would have been.
By the way, DO NOT charge the TCs at AAA, or it ends up like a cash advance with interest on your credit card. You need to pay for them in cash to avoid that.

TCs can be bought in multiple currencies, including euro. The B&B will pay a charge to deposit them.

Another solution, if they are willing, is a bank draft, in euros. You would get a better currency rate, pay a small fee to get the draft, and it would not cost them anything to deposit it. I use drafts regularly to purchase items from france. Like a certified cheque, but funds are in euro, and drawn on a french bank. If lost, you can get your money back.

I, too, would recommend you send them a bank draft in lieu of traveler's checks. I doubt they will mind at all, as I'm fairly certain they will pay a fee to deposit the TCs but not to deposit the draft (that's the way it is at my French banks at any rate). You should be able to get a bank draft for about $5.00.

In situations such as this, I've asked the B+B owner to accept my personal check, for an amount that exceeds the exhange rate in dollars. They then hold onto it and return it to me when I pay the final bill, in euros, in cash.

It has always worked for me...

Thanks, everyone; the bank draft makes most sense to me since the owner wants the TC to be "double signed" ( so she can cash it immediately?), and therefore I would have to send it some way to insure it's not being stolen, etc. I'll email back and see if they accept bank drafts. NP, I appreciate the heads up re paying cash if I go the AAA route.

I have an account with www.xe.com/fx which I use to send money to relatives in Europe and to make reservations at B&Bs that don't accept credit cards. Money is taken by electronic transfer from my checking account at my bank, a draft is issued in the currency requested, and the draft is mailed to the name and address I give in Europe. The cost is only a little more than the official exchange rate on the day the transfer is initiated. If I want faster service, I can choose to have the draft sent by wire transfer rather than through the mail; but that costs more, of course.

For security reasons it takes a little time and effort to set up the account, but after that each transaction is quick and easy.

I don't know if a bank would have a fee or not, obviously -- they sure don't in the US to deposit travelers checks, but sometimes it surprises me what onerous charges some foreign banks seem to have.

But, I was in AAA the other day and noted their exchange rate on the "tip pack" they have where they give you about $100-150 worth of euro and it was really outrageous, I couldn't believe it. It was around a 15 pct markup. I think the euro TCs aren't that bad, though. Of course the owner wants them signed, otherwise, it's pointless to send them as some kind of deposit in case you don't show up as they aren't worth anything unsigned.

St.Cirq, the problem with your suggestion as I see it, is that first of all it is likely to be much more expensive. As I recall when I checked doing my deposits. Each bank draft costs me something like $25. If the amount is only 100 euros, that's one helluva high percent. And on top of that my bank -- like most banks will charge 3 or 4 percent above current rates when sending the transfer in foreign currency. Somewhere here on Fodors I posted the exact amount I saved on my two deposits. It was something like $50 or $60 total. And that was on a total of I think 300 euros!

And as to being pretty sure their bank will charge them to deposit TC's, I've never heard of such a thing -- providing they are already in euros. Both recipients of mine assured me they had checked with their banks and there were NO charges to deposit TCs in their personal bank accounts. Why would there be? Would they charge them to deposit any other check written in euros? Same thing. I've done this numerous times and no one was ever had to pay a fee to deposit euro travelers checks in their personal accounts.
I also ran into the situation once where a landlord did not want to give out his personal checking account number for a bank transfer. I'm not sure that I totally blame him.
As to double signing the TCs and sending them, AAA assured me that if they were lost, they'd still be covered since the TC also was being made out to the specific recipient. I simply sent them regular mail.

I pay $5 for bank drafts, and the exchange rate on drafts is better than on euro cash.

I'd be interested on confirming that recipients of TCs in their local currency do not pay to deposit TCs in their account. I was sure I had read here that Amex did.

I pay $5.00 per bank draft, too.

My only experience with depositing TCs in euros to my French bank (Crédit Commercial du Sudouest) was a few years ago when I had renters who wanted to make their deposit that was for reasons I barely remember. What I do remember, though, was that I was charged 12 € for the bank to accept that deposit. I have sent bank drafts, too, and not been charged a thing for that.

The charge is even higher for accepting a wire transfer from my bank in the USA (18 &euro. Same thing if I walk into my French bank, write a check on my US checking account, and deposit that (have only done that once and the bank was none too pleased about it, either).

'Would they charge them to deposit any other check written in euros?'
Yes, with a lot of continental banks, free banking simply doesn't exist. There is a charge for everything - cash withdrawal, direct debit payment, and receiving credit (cheaper if within the same bank). That's why B&B and apartment owners prefer cash settlement - other than deposit of course.

The university credit union in my town sells American Express travelers checks in Euros and I'm pretty sure the Automobile Association sells Visa travelers checks. If you can't buy travelers checks in Euros locally, you can order them from www.AmericanExpress.com, or, possibly from Visa. I'm pretty sure you can also get them from Thomas Cook, www.thomascook.com.

I'll call my bank, get in touch with B&B folks, and get working on this this morning. I wish they would just accept a personal check as Tuck suggests; a gite owner from whom we rented years ago requested that, and it worked well; he returned the check when we arrived and paid him in cash.

I only need to send 210 euro (50% of the stay), and I sure hate to spend $50-$60 to send that small amount.

Thank you for all the input.

So far, not doing so well; called Travelex at our airport (AAA here does not sell TCs in euro), suggested by TA, and rate they are quoting today is 1.55. Yikes!

Alternatively, just buy the 210 euros at the bank and send it registered to the B&B. That way you minimize charges and get a decent exchange rate. My bank does charge ~2% above the exchange rate for euro cash.

Here's what I'd do...

Seek out another B+B. There has to be another one equally nice; is this one so much worth all the agita?

you can order them from www.AmericanExpress.com,

Do you deal with a bank -I have never heard of a bank that didn't have TC?

grandmere,

Forgive me if this sounds pushy, but I really think you should consider opening an account with www.xe.com/fx. As I said in my post above, the exchange rate is only very slightly above the official rate on the day the transaction is processed. What I forgot to say is that you will pay no other fees. The net cost to you is very reasonable.

Ok, my mini-crisis is averted, it seems; owner has agreed to accept personal check until I arrive, etc. I was beginning to think that Tuck's last advice needed to be heeded. I had chosen this B&B b/c it was recommended by the language school I'll be attending for a week, it's nearby, etc.

BTW, I checked, and my bank charges $25 for bank draft but exchange rate was 1.43, not super but better than the TC rate of 1.55.

Again, thanks,everyone for your opinions, advice, and listening to me!