Thanks...Avrooster...I got it. I was typing half asleep and late last night and didn't catch the 1% thing until after I posted. I forgot the other poster wanted to exchange to dollars ,which is new to me, instead of exchanging into pesos. I didn't know one could even do that. I tried it many years ago, in Europe,when a European friend needed some dollars from me, but I was told, by AmExp in Europe, that it couldn't be done and that the dollar traveler's checks had to be exchanged only into the local currency.
Plus, in Bangkok, I pay a little less than 1% to exchange my $100. traveler's checks into Thai baht, but the exchange rate higher on traveler's checks than on cash. So, that's also what was running through my tired head last night. Smiles. Happy Travels!

In case it is not quite clear, I feel the 1% Amex apparently charges for converting their traveler cheques into dollar bills is a fair rate.

What is NOT fair is the amount of pesos they were paying yesterday for each dollar, which was about 2% below the fair rate, as I indicated above.