Traveler's Checks: Are Old Checks Still Valid?

Traveler's checks were once a popular way to carry money while travelling, but they have become less common in recent years due to the rise of digital payment methods and the increased use of credit and debit cards. However, some people still wonder if their old traveler's checks are still valid.

The answer is yes, traveler's checks usually do not expire, so you can cash or redeem them at any time. While new traveler's checks are no longer issued, old ones remain backed by the issuing company and can be redeemed in several ways. For example, you can redeem them directly with the issuing company, deposit them into your bank account, or exchange them for local currency at various foreign exchange partners worldwide.

Where to buy old traveller's cheques

While it is no longer possible to purchase traveller's cheques, there are still ways to redeem them.

Redeem with American Express Travel Related Services Company, Inc.

You can redeem your traveller's cheques with American Express online or over the phone.

Deposit with your bank

You can deposit your traveller's cheques with your bank. However, not all banks accept traveller's cheques, and some may charge a fee. It is best to check with your bank before attempting to deposit.

Exchange for local currency

You can exchange your traveller's cheques for local currency at thousands of foreign exchange partners worldwide. Fees may apply.

Other options

• Cashing at a casino: Some people have reported being able to cash their traveller's cheques at their local casino.
• Merchant locations: It may be possible to redeem your traveller's cheques directly for goods and services at certain merchant locations. Check with the merchant first.
• Hotels: Some people have reported being able to use their traveller's cheques to pay for expenses at hotels.
• Credit unions: Some people have reported being able to deposit their traveller's cheques at credit unions.
• Mailing to the issuer: If all else fails, you may be able to mail your traveller's cheques to the issuer to receive a refund. However, this may involve additional paperwork and fees.

How to use old traveller's cheques

If you have old traveller's cheques, you may be able to redeem them, but it's becoming increasingly difficult.

Firstly, check that the country you are in accepts traveller's cheques. If so, you can try presenting the cheque to a bank or merchant where you wish to cash it. Make sure the acceptor watches you countersign the cheque in the lower left-hand corner.

Alternatively, you can exchange your traveller's cheques for local currency at thousands of locations worldwide, including foreign exchange bureaux and American Express Travel Service locations.

If your cheques are lost or stolen, contact an American Express Traveller's Cheque Customer Service Centre immediately. They will provide you with step-by-step instructions for reimbursement.

If you have old Thomas Cook traveller's cheques, you may be able to get them redeemed by contacting the company directly.

Pros and cons of old traveller's cheques

Pros of Old Traveller's Cheques:

Traveller's cheques have been a common feature of travel for over 130 years, but are now much less widely used. However, they do still have some advantages:

• They are easy to carry.
• They do not expire.
• They can be replaced if lost or stolen.
• They are safer to carry around than cash.
• They are accepted at participating merchants like hotels, restaurants and stores.
• They can be exchanged for local currency at financial institutions or your hotel.
• They are indirectly accepted everywhere if you convert them into cash.
• They may carry lower fees than credit cards.

Cons of Old Traveller's Cheques:

• They may be hard to find.
• They may not be accepted everywhere.
• They might be difficult to exchange.
• It can be hard to keep track of all the serial numbers.
• They carry less competitive exchange rates than credit cards.
• They may be unexpectedly costly.
• They may be inconvenient.
• They are no longer widely accepted and cannot easily be cashed, even at the banks that issued them.

Alternatives to old traveller's cheques

Traveller's cheques are becoming less common, and there are now many alternative ways to pay when travelling. Here are some of the most popular alternatives:

Credit Cards

Carrying a credit card may be easier than carrying traveller's cheques. They can be used for large purchases such as plane tickets and hotel reservations, and some travel credit cards allow you to earn rewards on travel-related purchases. Some credit cards also offer benefits like protection from unauthorised charges and the ability to use a mobile app to track purchases. However, foreign transaction fees may apply when using a credit card overseas, and these can be in the range of 1-3% of the purchase.

Debit Cards

A debit card can be just as easy to carry as a credit card and offers similar fraud protection. It may be helpful to carry a debit card when visiting a country that favours cash transactions, as you can use it at an ATM to withdraw cash when you arrive at your destination. You may be charged ATM fees when using a debit card abroad, and some banks may also charge foreign transaction fees.

Prepaid Cards

Prepaid cards may be easier to carry than cash and offer some protection against loss, theft or fraud once registered. You can load a designated amount of money onto the card and then use it like a debit or credit card. Most cards are reloadable, and some offer perks such as card replacement and zero liability in the event of theft. However, many cards also have high fees, such as activation and cash withdrawal fees.

Mobile Wallets

A mobile wallet is a digital version of a physical wallet, allowing you to store things like credit cards, debit cards, prepaid cards, boarding passes and hotel reservations. They can be convenient, allowing you to make quick and easy payments using your phone or other mobile devices when on the go.

How to cash in old traveller's cheques

Although travellers' cheques are no longer issued, they do not have an expiry date and can still be redeemed. Here are some ways to cash in old travellers' cheques:

Redeem with the Issuing Company

You can redeem travellers' cheques with the issuing company, such as American Express or Visa, online or over the phone. You may need to provide the following information:

• Cheque serial numbers
• Date and location of purchase
• How and when the cheques were lost or stolen
• Issuer of the travellers' cheques

Deposit with Your Bank

Some banks allow account holders to deposit travellers' cheques. Contact your bank to confirm if this is possible and whether any fees apply. When depositing travellers' cheques, you may be required to sign the cheques in the presence of a teller.

Exchange for Local Currency

Travellers' cheques can be exchanged for local currency at various exchange locations worldwide, including financial institutions, hotels, and foreign exchange partners. Fees may apply for this service.

It is important to keep your travellers' cheques secure and treat them as you would cash. Record the serial numbers and keep them safe during your travels. Additionally, ensure that you have the necessary identification and proof of purchase when redeeming travellers' cheques.

Frequently asked questions