Commission free AmEx Travelers cheques.

[Michael H]

hello, i would like to ask, is encashing AmEx Travellers cheques commission free only at AmEx exchange centres? Does this mean that in any other place, I will be charged a commission? How much would that be? i checked out the website on AmEX and they only seem to have like one or two exchange centres in each city. i dont want to be spending my time trying to hunt these exchange centres down. so if i could just go to the nearest bank and encash them commission free, i would be very happy.

[ac5534]

Most places do not want to take Travelers Cheques...it is so much easier to just use your ATM card and get cash at the machines. The machines in Europe (the ones I have used) do not charge for the transaction. You will want to check with your bank to see what they charge for using an ATM other than theirs. I know my bank charges $3 each transaction....so I get as much as I will need for several days. I don't like carry alot of cash but since I stay with family, I just leave the extra tucked away safe somewhere in my room.

[me]

if y'all pay commission on ATM withdrawls - you need a new bank!

find one that doesn't charge, at least to use on your trip!

it's not a bad idea to have a few traveller's cheques, just in case of a problem.

[U2Fan]

I have had such a headache over this very topic.
My bank wouldn't give me a duplicate copy of my ATM card, and I tried to make a stink, but it didn't go far. I know, I know, change banks, maybe I will. Anyways, they charge me $3 per withdrawal overseas. I assumed(sp?) that banks in Europe would charge the same, or more.
So my theory was, if my bank is going to charge me $3, and let's say, I can only withdraw $200(or the euro equivalent) per day, and the european bank will charge $2, wouldn't it be cheaper to get traveler's cheques and exchange them commission free at the amex office in whatever town I'm in.

how did you all find out that ATM's don't charge you overseas??
I haven't heard that anywhere, but it's good to know.

[me]

go here www.bankrate.com/brm/rate/brm_atmsearch.asp to find a bank in your area that charges no fee to make atm w/d's

[me]

btw, web banks (online banks) a especially good about not charging. mine, www.bankdirect.com/ charges nothing, and refunds other bank's surcharges. Up to $1.50 each, up to 4 per month.