Travelers checks are pre-printed, fixed-denomination paper payment instruments that you buy from an issuer, sign once at purchase, and sign a second time when you spend or cash them. The two signatures have to match in front of whoever accepts the check, which is what makes them harder to steal and spend than cash. American Express, the dominant issuer for more than a century, stopped selling new ones effective December 31, 2020, and most banks have followed. Millions of previously issued checks are still valid with no expiration date, so the practical question for most people today is less about buying them and more about how to use, cash, or redeem the ones already sitting in a drawer.
The Two-Signature System
Every travelers check carries two signature lines, and that design is the entire security model. When you buy the check, you sign the upper line immediately, in front of the seller. That signature becomes your registered proof of ownership. The lower line stays blank.
When you go to use the check, you sign the lower line while the merchant, bank teller, or exchange clerk watches. They compare the two signatures. If they match, the transaction goes through. If something looks off, the person accepting the check can refuse it. A thief who steals an unspent check still has to forge your signature in front of someone trained to catch a mismatch, which is why these were considered safer than carrying cash abroad.
One rule matters more than any other: never countersign the lower line in advance. A pre-signed travelers check offers no more protection than cash, because anyone who finds it can spend it.
Checks come in fixed denominations, commonly $20, $50, $100, and higher.1American Express. Travelers Cheques Each one has a unique serial number the issuer uses to track, verify, and replace it.
Where You Can Still Buy Them
Finding a seller is now the hardest part. American Express stopped sales at the end of 2020, and most banks and credit unions have stopped offering them as well. A handful of smaller financial institutions and travel-service offices may still sell them, but availability is patchy and you should expect to call around.
If you do find an issuer, the fee is roughly 1% to 3% of the purchase amount. Some banks waive it for existing account holders. Bring government-issued photo ID. The seller will have you sign the upper line of each check before you leave, and that step isn’t optional, because an unsigned check offers no protection if lost.
Paying a Merchant
Using a travelers check at a store or restaurant follows a short ritual. Hand the check over, then sign the lower countersignature line while the cashier watches. They compare that signature against the one already on the upper line. Many merchants also ask to see a passport or photo ID as an extra check.1American Express. Travelers Cheques
Merchant acceptance has dropped sharply. Many retailers, especially outside major tourist areas, no longer recognize travelers checks or have staff trained to process them. Ask before assuming a store will take one.
Cashing a Travelers Check
Banks, currency exchange bureaus, and some hotels will convert travelers checks into local paper currency. The process mirrors a merchant transaction: you present the check, countersign in front of the teller, and show identification. The teller verifies everything before handing over cash.
Expect fees. Exchange bureaus often charge a commission as either a flat fee or a small percentage, and the exchange rate they use may include a spread between what they pay you and the market rate. Between the two, you can lose a meaningful share of the check’s value, so comparing a few locations is worth the time.
Don’t expect to deposit travelers checks through your banking app. Bank of America, for example, specifically excludes travelers checks from mobile deposit and requires an in-branch visit.2Bank of America. How to Deposit Checks Online Using the Mobile Banking App Most ATMs also aren’t set up to process them. A teller window is the safest route, and it’s worth calling first to confirm the branch still accepts them.
If Checks Are Lost or Stolen
The replacement guarantee is the whole reason travelers checks existed in the first place. It depends on one habit: record every serial number when you buy the checks and keep that list somewhere separate from the checks themselves. Without the serial numbers, the issuer may not be able to help you.
Contact the issuer’s service line as soon as you notice checks are missing. American Express runs a 24/7 line at 1-800-221-7282, and Visa provides automated cheque verification around the clock.1American Express. Travelers Cheques The issuer will ask for the serial numbers, where and when you bought the checks, and the circumstances of the loss. They void the missing serial numbers so no one else can cash them, then arrange a refund or replacement.
You’ll need identification and proof of purchase. American Express recommends carrying the original purchase receipt when you travel; without it, the claim takes longer.1American Express. Travelers Cheques Refunds can often be arranged within 24 hours depending on location and documentation, and replacements generally come at no extra charge beyond what you originally paid.
Old or Inherited Checks
American Express travelers checks have no expiration date. Even though sales stopped in 2020, every previously issued check is still fully backed and redeemable.1American Express. Travelers Cheques A stack found in a drawer twenty years later is still good.
There is one timing issue to know about. State unclaimed property laws can intervene when checks sit unused for a dormancy period, typically three to five years depending on the state. At that point the issuer may be required to turn the funds over to the state’s unclaimed property division, and you’d have to file with the state rather than the issuer. If you’re sitting on old checks, redeeming them sooner avoids that detour.
If you hold unused American Express checks, you have a few options:1American Express. Travelers Cheques
- Redeem through the American Express online redemption portal.
- Call American Express customer service at 1-800-221-7282 to redeem by phone.
- Deposit at your bank in person; mobile deposit is generally unavailable and some banks charge fees.
- Exchange for local currency at a foreign exchange location, since many still process American Express checks worldwide.
If you inherited checks from someone who has died or become incapacitated, American Express handles those through a separate claims process. Call customer service to open the claim, then provide a valid photo ID, copies of the checks, and a refund claim form. Additional documentation may be required depending on the circumstances.1American Express. Travelers Cheques The original purchase receipt, if you have it, speeds things up noticeably.
The $10,000 Border Reporting Rule
One thing people often miss: travelers checks count as monetary instruments under federal law. If you carry more than $10,000 worth of monetary instruments into or out of the United States, in any combination of cash, travelers checks, and money orders, you have to report it on FinCEN Form 105.3Office of the Law Revision Counsel. 31 US Code 5316 – Reports on Exporting and Importing Monetary Instruments This applies to U.S. citizens and visitors alike.
The threshold is per group, not per person. If you and your spouse are traveling together with a combined $12,000 in travelers checks and cash, you have to report it, even though neither of you individually holds more than $10,000.4U.S. Customs and Border Protection. Money and Other Monetary Instruments
Skipping the report is costly. Customs and Border Protection can seize the entire amount, and beyond forfeiture you face potential civil fines and criminal prosecution, including imprisonment.5Office of the Law Revision Counsel. 31 USC 5317 – Search and Forfeiture of Monetary Instruments There’s no penalty for carrying large amounts, only for failing to declare them, and the form itself is short.
Why Most Travelers Use Something Else Now
Travelers checks solved a specific problem: carrying money safely in a foreign country before electronic payments existed. That problem has newer solutions. Credit cards with no foreign transaction fees are widely accepted internationally, and the issuer reverses unauthorized charges without you needing to have recorded serial numbers in advance. Debit cards with global ATM access let you pull local currency on arrival. Prepaid travel cards can lock in exchange rates and cap your exposure if lost. Mobile payment apps work at contactless terminals in many places, though coverage is uneven outside major cities.
The shared advantage is immediate electronic verification. No one has to compare handwritten signatures or call a service center at 2 a.m. For the rare case where you want physical backup in a remote area, a modest amount of local cash alongside an electronic payment method tends to cover more situations than a travelers check would today.