How can i buy travelers checks

Caution: There are risks in relying excessively on traveler's checks. In the 21st Century, not all businesses take travelers' checks, and younger clerks may not even know what they are. Our recommendation: If you insist on carrying travelers' checks, use them as a supplement to an ATM card and credit cards, and be prepared to change them in banks if local businesses refuse to accept them.

For what it's worth, we haven't used travelers' checks ourselves since the early s. When purchasing traveler's checks or travellers cheques, stick to major brands like American Express and Visa. Buy at least some of the checks in small denominations, for two reasons: Shopkeepers may be reluctant to accept large checks for modest purchases, and you'll want to avoid getting stuck with more foreign currency than you need.

If you're traveling with a companion, use dual-signature travellers checks such as the American Express "Cheques for Two. Consider buying foreign-currency checks--especially Euro checks, if you're visiting the Euro currency region. This way, you can use traveler's checks in shops, hotels, etc. But don't buy more than you plan to use, since unused cheques will have to be changed back into your home currency unless you save them for another trip.

Banks and credit unions often sell traveler's checks, as do the AAA, the CAA, and many other national automobile associations. Shop around before buying; your bank or credit union may offer free check purchases with certain types of accounts, and members of automobile associations are usually exempt from purchase fees.

Caution: Avoid prepaid travel cash cards, which are like a debit-card version of traveler's checks, unless you're willing to tolerate mind-boggling currency-exchange fees. See our Prepaid Travel Cash Cards article for details. Traveler's checks are advertised as being "safer than cash," because the issuers promise to replace them if they're lost or stolen.

However, the reality is often more harsh: If the issuer decides that you've been negligent, it may refuse to pay up. In practical terms, this means you should handle travellers cheques as if they were cash. At time of publication, American Express is the only source for obtaining traveler's checks online. Purchase traveler's checks online by using your American Express Membership Reward Points and converting the points into traveler's checks or with your American Express card.

Visit the American Express website to create an American Express online account. Locate and click "My Account," and then click "Account Summary" to land on the login page.

Click "Create a New Account," and enter the required personal and credit card information to create an online account. Return to the login page and enter your user ID and password to log into your American Express account. View your available Membership Rewards points on the page in the upper right-hand corner under "Log Out. Locate and click "Membership Rewards" and view your account summary with the balance of your pending and available rewards points. Decide which denomination of checks you want to purchase and ensure you have the required amount of points to make the purchase.

Use your American Express Membership Rewards points to redeem your traveler's checks by entering the quantity in the designated field; select the denomination you wish to obtain and click the box indicating that you have read the restrictions.

American Express is the name on most traveler's checks, so it may be a natural place to look to buy them; you can find the nearest place to purchase them through the company's website. At the site's "American Express Product Locator," enter in your current address and click the "Travelers Cheques" box, then hit "Go" to see the locations nearest you. When you need traveler's checks, your own financial institution is often the easiest option.

Banks typically charge a fee to purchase traveler's checks from them. Fees may vary depending on the type of account you hold with the bank. If you cannot physically get to your bank, you can have the bank mail traveler's checks to you for an additional fee.

If you can't get to your own bank, you can also buy traveler's checks from another financial institution, including most banks and credit unions. Banks and credit unions may charge a higher fee for non-customers.