American Express Travelers Cheques still accepted?
Replies: 15 - Last Post: Jan 17, 2013 10:54 PM Last Post By: DMon707
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American Express Travelers Cheques still accepted?
Two of us U.S. citizens/ residents will be cycling Cuba for three weeks in January/February. We want a safety back-up in the event we lose the Canadian cash we'll be carrying. I get conflicting reports as to whether Cuban banks will still change Amex Travelers checks. I know U.S. denominations are penalized, but having negotiable travelers checks as a safety measure appeals to me. According to my info, no U.S. bank travelers checks are accepted. But as to Amex, I have three conflicting reports:1. They're accepted with no 10% penalty.
2. They're accepted, but the penalty is now charged.
3. They're no longer accepted.
If Amex checks are not accepted, then I'll have to find traveler's checks from banks in Jamaica in Canadian, etc., denominations, which, so far, appears difficult, if not impossible.
Anybody have recent experience with this?
1
Amex TC's will return around 93/94CUC per $100.Outside Havana you may find more difficulty cashing so plan ahead when on the road.
I would carry some $50-100USD notes for emergency despite the 10% hit and/or some CAD/Euros.
4
This is from personal experience this past august. Based on what a poster had said he heard, I went to the cadecas in the Havana airport. Each one said that they do NOT change Amex checks. In Havana, Banco Metroplitano teller informed me that they do NOT change the checks and directed me to Banco Internacional in Habana Vieja. There they did change a 100 check but the 10% penalty was applied and then a 3% commision ending up with about 86 CUC. This is about 1 CUC less from which you recieve from actual cash. By the way a reciept showing the complete transaction was provided. If anyone can provide contrary information from ACTUAL experience and not hearsay, please do so.6
Certainly I heard that BFI was one of the few (the only ??) bank which would do it.The BCC website says that BFI has 31 branches - with at least 5 in Havana, that means they have probably 1 or 2 in each province.
7
I just got back from Cuba yesterday, went to the banco at Carlos Tercero mall, got 86 CuC for every 100 USD in AE checks, same I got back in April at the same place.Edited by: jeff92883
Edited by: jeff92883
8
Thanks jeff - so you have (re)clarified that Amex TC's continue to be accepted as they have been for several years but re-muddied the waters re what rate LOL!So until evidence to the contrary we need to go with that 86CUC/100USD figure
Certainly makes TC's once again a questionable option even for those from the land of the unfree to use their own credit/debit cards.
I personally haven't found a need/use for them for 20+ years.
Edited by: johnabbotsford
12
Yes but unfortunately the rate for cashing has not been consistent within that period. There was a brief flurry perhaps 1 year ago of reports of the 10% being added even to USD TC's and then for several months there were first hand reports on several Cuba travel sites of the 93/94 figure - some in recent months.But as I said in #8 let's go back to posting worst case result figure for those few to whom this is relevant like DMon707
13
I returned from Cuba last week, and can definitely confirm that the Am Ex cheque has fallen back downon it's ass, to a pathetic figure of 85.75. i did get 93 last April.
The bank at the airport will cash them, but as mentioned, not cadecas or the Metropolitano. The BFI as
mentioned will cash them.
Trap
