Travellers' cheques at US banks question..

[Dauphin]

I have some USD travelers' checks. If I write them out to someone (e.g my brother's girlfriend), are they as easy to deposit in her US bank account in Minnestoa as any other ordinary cheque written out to her would be? The issue I'm thinking may be a problem is the whole witness of signature by a teller thing - but I'm told USians are fairly laid back on that issue.

1) I'm asking you because the guy in Bombay or Delhi or wherever the heck that call centre was... was next to useless on the wrong side. Give him dues though, I could understand his accent at least.

2) No, I ain't writing them out to any of you to cheque in.

[loinburger]

I've never had a problem with the witness of signature business, but I've also never cashed a check in excess of $100.

[Japher]

Just cash them and give her the money

enough with the scammin'

[Dauphin]

Can't do it here without incurring about a (190-170)/170 = 11.7% buy-sell differential on them, or about $117 in this instance. Not an option.

[atomant]

Originally posted by Dauphin
Can't do it here without incurring about a (190-170)/170 = 11.7% buy-sell differential on them, or about $117 in this instance. Not an option.

Let me ask the misus, she knows about this stuff, used to run an amex travellers cheque thingee doo hickie

[atomant]

One could sign over TCs to a third party, however, as far as I can remember, they can only be deposited into an account and the receiving bank will most probably send them on collection and only be available when paid. Well the person she wants to sign them over to can enquire at her bank as well as to how they would process the TCs. Also enquire about fees and charges, both from the company sellig the cheques to you and teh bank where you want them cashed

[Gatekeeper]

Cheques. I like that spelling better than checks. Cheques ... cheques ... cheques ... ah, yes, definitely rolls off the tongue better.

Gatekeeper

[snoopy369]

Depositing it into a bank account should not be a problem. The "witnessing" part is for the recipient's protection, not the bank's; the bank would charge your brother's girlfriend a fee if they bounced or were fraudulent or whatever.

It's no different from when I accept a travellers' cheque at Borders; ultimately, someone takes that check to a bank (somewhere, probably michigan?) and presents it, the same way your brother's girlfriend would do (although probably with a lot more of them ).

[snoopy369]

Originally posted by atomant
One could sign over TCs to a third party, however, as far as I can remember, they can only be deposited into an account and the receiving bank will most probably send them on collection and only be available when paid. Well the person she wants to sign them over to can enquire at her bank as well as to how they would process the TCs. Also enquire about fees and charges, both from the company sellig the cheques to you and teh bank where you want them cashed

I don't think he's asking about signing them over to a third party, as that's a whole different ball of wax. Simply making them out to her and having her cash them should be fine, but trying to make them so that she can use them herself witout cashing or depositing them at a bank (ie, taking it to a store or something) would be a hard sell, and I'd certainly never take a 3rd party Traveller's cheque.