Traveler's Checks

[austxdan]

OK - so a random question on the correct usage for TC's (traveler's checques for you fancy spellers).

First off - we usually operate on a cash basis in MX. I take some USD, just because its already in my wallet, but we mainly hit the ATM for pesos and pay cash (MXP) for everything. However, we get TC's for big ticket items like the car rental and the hotel incidentals (I pre-pay lodging before arriving).

Common instruction for Traveler's Checks is that you sign the front when you receive them here in the good ol' US of A and when you use them you endorse the back. Easy enough to follow that rule. But here's the "however" part:

On more than one occasion last year when paying with TC's, a fuss was made by the fact that the front was signed before using them to pay. We mentioned that's how it's supposed to be, and we'd be signing the back in their presence, but it still was an issue. Like we were supposed to show with a blank, unsigned TC and sign both spots when used.

Anyone else have this happen to them? Margo - any insight on the norm for TC usage in MX?

I suppose I'll do what the Bank tells me again, but this always sorta gnawed on me.


Dan

[pepper]

I know this is careless, but when we've used them, we never signed them first. We did both signatures right at the exchange booths w/o a problem. I haven't bothered with them lately since it seems most people are put off by them and they'd rather deal in cash.

[minniemex]

This was recently posted by Margo -


I so don't recommend travelers checks...Pain in the butt, many places don't take them and to cash them at the bank is lots of time in line and they only do it after ten in the morning....We are actually going to put it in our welcome letter that we WON'T take them anymore. I actually recently got paid over a thousand dollars in TC's and the bank or the casa de cambios wouldn't take them...also if you cash TC's at Casa de cambios, you only get 95%.


Here is the link to the whole thread -

http://tulum.info/showthread.php?p=22537&highlight=travelers+checks#post22537

[austxdan]

Hmmm - I might want to rethink this. I hadn't seen that thread (darn work stuff). Interesting.

Perhaps I'll just go a little heavier on the USD's for the car rental, although I did specify Travelers Checks on Caribbean's Reservation form - I'm sure they'll take cash.

I do so hate the whole signing thing.



Dan

[Gale in KY]

Having worked at a bank for many years, I am curious as to how you can NOT sign the front of the checks when you purchase them. It was required that you sign the front in the presence of a teller, at least when I was in banking. Perhaps the rules have changed in 15 years..lol. the idea of endorsing them on the front when you purchase them is for your protection..after you sign the front, NO ONE but you can use them. If they are left blank, there is no protection..they are like cash...loose them and anyone can use them, all they have to do is endorse front/back.

Twirls said that Easyway no longer accepts traveler's checks, although they did take them from her this time, but advised her they no longer accept them.

I wouldn't bother with them, the locals don't want to accept them, and they are just a hassle to cash at the bank, a waste of precious beach time!

[Lynnette]

I hope websites start letting us know that they won't accept TCs.....strange that Easyway doesn't take them anymore. I guess it's just too much of a hassle to wait in a bank line.

[sctx]

I probably won't be carrying checks again.... had no problem at the cambio in Akumal, but couldn't cash them at the cambios in Playa