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Can You Deposit Traveler’s Checks

can-you-deposit-travelers-checks

ANSWER:

You CAN deposit traveler’s checks.

More Info: If you have purchased traveler’s checks that you did not use, you can deposit them in your bank account just as you would cash or personal checks. Traveler’s checks work just like personal checks except that they are guaranteed by the issuing institution.

“Where Can I Use Traveler’s Checks?.” American Express. N.p., n.d. Web. 8 Sept. 2011. <www.americanexpress.com/uk/tc/faqs.shtml#6>.

Where Can You Purchase Traveler’s Checks?

Traveler’s check can be purchased at any bank location. Traveler’s checks can be purchased through a credit card company. American Express sells them, as does Visa and MasterCard. Buying a traveler’s check allows the person a guarantee on their money. The issuer of the traveler’s check will return money if a check is lost or stolen. An option exists to have traveler’s checks replaced if they are lost or stolen.

Do You Get Cash Back from Traveler’s Checks?

You do get cash back when there is a balance left when using traveler’s checks. Traveler’s checks are available in a variety of denominations, and can be spent in the same way that cash is, with the exception that the consumer must sign the check in the presence of the cashier from whom they wish to make a purchase. Once that is done, the cashier should compare the most recent signature with the original one on the check, and return any unused balance of the check to the customer in the local currency.

 

Resources

“If I Don’t Use the Full Value of the Traveler’s Check, Will I Get Cash Back?.” American Express. N.p., n.d. Web. 8 Sept. 2011. <www.americanexpress.com/uk/tc/faqs.shtml#14>.

“Where Can I Use Traveler’s Checks?.” American Express. N.p., n.d. Web. 8 Sept. 2011. <www.americanexpress.com/uk/tc/faqs.shtml#6>.

 

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