If you are holding on to unused traveler's checks...

[BlueRiband]

If you are holding on to unused traveler's checks the window to redeem them is rapidly closing.  According to a column on another travel site (hence why I cannot link it) some banks and financial institutions have stopped accepting them for deposits - such as Schwab.  American Express stopped issuing new ones and it's estimated that $1 billion dollars are lying in sock drawers and safe deposit boxes. 

 

It was not too long ago that some posters here were still buying them and cashing them on the ship.  Buying traveler's checks at one time was a cherished ritual of vacation planning.  But holding on to them for emergency money will be useless if you have no way to turn them into cash. 

[mammajamma2013]

Thanks for the heads-up.

[mnocket]

No one under 40 knows what you are talking about 😄

[ldubs]

X2, thanks for sharing. It is a good prompt to check the old sock drawer!  

 

I am actually surprised many places other than Amex would still accept them.  I suppose as long as American Express is in business they will have to redeem them.   

[Kat915]

Wow. I stopped using them over 30 years ago. Surprised they are still being used.

[BlueRiband]

9 hours ago, ldubs said:

X2, thanks for sharing. It is a good prompt to check the old sock drawer!  

 

I am actually surprised many places other than Amex would still accept them.  I suppose as long as American Express is in business they will have to redeem them.   

The same would apply to gift cheques.  Years ago my employer gave these as incentive awards.  (I used them to buy my 26" case!) 

 

Amex ones never expire and their site outlines the redemption process. That may be the only way to cash them if one's bank will not accept them for deposits or does not cash them.  There were also Visa and Thomas Cook checks out there.  I don't know what happened with the later after Cook went bankrupt.

 

Personally, I have not used traveller's checks since 1994.  The only place that readily cashed them in Paris was the Amex outpost.  And that has long ceased to be an option after Amex closed all of their brick and mortar storefronts.  Cunard stopped cashing them years ago and I doubt if there are any cruse lines that still do. 

Edited August 31 by BlueRiband

[shipgeeks]

Thank you for the reminder.  I see ours every time I pull out the Misc. Cruise Documents folder, but haven't used them since 1989 honeymoon.

Figuring out what to do with them is now on my To Do list.

[StollyBolly]

I took my last one to the bank and cashed in for $$ years ago.  I thought they were on their way out then.  

[lenquixote66]

Some banks in NYC will redeem them as well as banks in NYC suburbs.

[CDNPolar]

Really?  Did not know that these were still a thing.  But that could be Canada.... we don't even use checks (cheques) here at places like the grocery store.  We are pretty much an electronic society. IMO

[lenquixote66]

8 hours ago, CDNPolar said:

Really?  Did not know that these were still a thing.  But that could be Canada.... we don't even use checks (cheques) here at places like the grocery store.  We are pretty much an electronic society. IMO

I have yet to use a Credit or Debit card.

[clo]

2 hours ago, lenquixote66 said:

I have yet to use a Credit or Debit card.

Well, someone may have to eventually pay for you. We even have an independent biscuit/coffee place that has the sign up "No Cash."

[ldubs]

13 hours ago, CDNPolar said:

Really?  Did not know that these were still a thing.  But that could be Canada.... we don't even use checks (cheques) here at places like the grocery store.  We are pretty much an electronic society. IMO

 

I cannot remember the last time I wrote a check.  I don't even know where we keep them.  Use of cash is getting pretty rare too, even for small purchases.   

[clo]

38 minutes ago, ldubs said:

 

I cannot remember the last time I wrote a check.  I don't even know where we keep them.  Use of cash is getting pretty rare too, even for small purchases.   

When we lived at Lake Tahoe my and the dog's 'beautician' didn't take cards. So every six weeks for me I had to write a check. Weird.

 

[lenquixote66]

4 hours ago, clo said:

Well, someone may have to eventually pay for you. We even have an independent biscuit/coffee place that has the sign up "No Cash."

My wife who I have been with 62 years uses credit cards.

[lenquixote66]

1 hour ago, ldubs said:

 

I cannot remember the last time I wrote a check.  I don't even know where we keep them.  Use of cash is getting pretty rare too, even for small purchases.   

We pay all bills by check and whenever I made a purchase in a store I paid cash.

[clo]

11 minutes ago, lenquixote66 said:

My wife who I have been with 62 years uses credit cards.

Oh, so you have the use of them...from someone else's hand. A tad different.

[clo]

1 hour ago, lenquixote66 said:

We pay all bills by check and whenever I made a purchase in a store I paid cash.

But your wife uses credit and debit cards.

[CDNPolar]

I don't even carry the credit cards physically with me, I pay using ApplePay from my iPhone or iWatch.  We almost never have cash.  To us every purchase whether a pack of gum or a TV, it is about the points.  That is how we are flying business class to China.  Points.  I would be happy to see cash disappear.  I do feel for the panhandlers and others that solicit "spare change" outside of stores and on the streets, because years ago I would have given them something but now I have nothing to give.

[PoppyVelvet]

2 hours ago, CDNPolar said:

I don't even carry the credit cards physically with me, I pay using ApplePay from my iPhone or iWatch.  We almost never have cash.  To us every purchase whether a pack of gum or a TV, it is about the points.  That is how we are flying business class to China.  Points.  I would be happy to see cash disappear.  I do feel for the panhandlers and others that solicit "spare change" outside of stores and on the streets, because years ago I would have given them something but now I have nothing to give.

Same for us. One of the most annoying things when visiting the US is having to have cash for tips. At home I’ve had the same “emergency” $20 note in my wallet for about ten years!

[ldubs]

14 hours ago, clo said:

When we lived at Lake Tahoe my and the dog's 'beautician' didn't take cards. So every six weeks for me I had to write a check. Weird.

 

 

Out of curiosity I checked with Mrs Ldubs.  The only checks we write go to the county or state for things like various property taxes or DMV.  That way the high fees for the 3rd party credit card processors are avoided.  

[ldubs]

5 hours ago, CDNPolar said:

I don't even carry the credit cards physically with me, I pay using ApplePay from my iPhone or iWatch.  We almost never have cash.  To us every purchase whether a pack of gum or a TV, it is about the points.  That is how we are flying business class to China.  Points.  I would be happy to see cash disappear.  I do feel for the panhandlers and others that solicit "spare change" outside of stores and on the streets, because years ago I would have given them something but now I have nothing to give.

 

"I would be happy to see cash disappear."

 

I predict it will happen, if not in mine, in my kid's lifetime.  

 

BTW, I still have a Canadian $2 bill.  

[clo]

49 minutes ago, ldubs said:

 

Out of curiosity I checked with Mrs Ldubs.  The only checks we write go to the county or state for things like various property taxes or DMV.  That way the high fees for the 3rd party credit card processors are avoided.  

Absolutely. Auto-pay is our friend.

[lenquixote66]

12 hours ago, clo said:

But your wife uses credit and debit cards.

Yes.I have several friends who never use credit cards or debit cards.They do not have iPads,cell phones or computers and have no problems existing in the modern world.

[clo]

18 minutes ago, lenquixote66 said:

existing

Operative word --- EXISTING. LOL.