travellers cheques

[lizzy h]

I have guests at the moment who want to pay at the end with travellers cheques, the question I want to know is can I put them into my french bank as they might be sterling (I havent seen them yet) is this what you do with tavellers cheques? as the only experience I have had with them is whilst on holiday abroad I used them at the hotel to exchange for currency, so will they just give me them and Ill take them to the bank and pay them into my account? this is quite urgent as they are due to go Monday and Ill not be able to pay them in till Tuesday as the banks are shut Monday and by then they will be long gone and  and Ill be left with worthless travellers cheques

thanks in advance

 

[winterbunny]

Please do check with your bank before committing yourself.  Ours would take them, only if we had set an arrangement in place before hand.  You also need to check if the bank make any charges for clearing them - if all is set in place you may have to either take the charges like we do with credit cards or ask the client for a little extra to cover.

Buns

[Coco]

Can you get hold of  your guests before the banks close today?  Why not ask them to go and get them cashed and then pay you in cash.  That way the onus is on them to incur any charges on currency exchange etc.

[Alan]

[quote]Can you get hold of your guests before the banks close today? Why not ask them to go and get them cashed and then pay you in cash. That way the onus is on them to incur any charges on currency exch...[/quote]

Our local branch of the CA would not cash one of our guests travellers cheque, they end up having to go to the next village, not sure which bank they then used but they would only cash one cheque for them.

i am sure if your bank will take them then there will be a charge for them. i have just been charged 30 euro for cashing a personnel dollar cheque, after being told the charges would be about 20 euros.

[lizzy h]

Im going to tell my husband to tell them we can only accept cash to save all the hasstle (sounds better coming from a man says she chickening out!)

cheers

[mascamps.com]

Assuming that you have a business bank account, you should be able to accept travellers cheques. CA will take Visa and Mastercard branded cheques (their contract with those organisations would oblige them to) and, I think, Amex.

I wouldn't bother taking non-euro cheques though as it will cost a fortune in charges.

Amex supposedly cash their own cheques free for customers. Whether this would apply to businesses doing the same I don't know. We accept Amex cards so presumably could cash their cheques in one of their offices too.

 

Arnold