cashing travellers cheques in uk

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Found yourself stuck with travellers cheques? Here's how you can exchange your travellers cheques to cash.

JANUARY 2021

Before we start talking about exchanging your travellers cheques into cash, let's start at the beginning.

What exactly is a travellers cheque? According to the Oxford dictionary, it is defined as "a cheque for a fixed amount that may be cashed or used for payments abroad after endorsement by the holder's signature". Traveller's cheques used to be available in several currencies such as US dollars, Canadian dollars, pounds sterling, Japanese yen, Chinese yuan and Euros.

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They were seen as a safer alternative to carrying physical cash around and at one point in time, very popular amongst tourists. Restaurants, bars, shops and most businesses would happily accept them as a travellers cheque could never "bounce". The issuer will unconditionally guarantee payment of the face amount. For reference only, the organization that produces a traveller's cheque is known as the issuer. The bank or financial institution that sells the travellers cheques is the agent of the issuer and the traveller who buys the cheque is the purchaser. The shop or restaurant you go into and use the cheque is known as the merchant.

The most well known issuers of travellers cheques were Thomas Cook, Bank of America and American Express. However, since the 1990s there has been a great decline in their use as cash, pre paid cards, ATMs, multi currency cards and credit cards have taken over when spending money abroad.

Now it is very difficult to use travellers cheques abroad. In fact most businesses will not accept them and they have indeed become an obsolete.

How can I exchange my travellers cheques?

Even though these cheques can no longer be used in shops when you go on your next holiday, they have no expiry date and there are still some ways that you can cash them in but just expect a poor exchange rate when you do exchange them for cash.

1) Your local Post Office

Luckily, you can still walk down your high street and into your local Post office to exchange your travellers cheques into cash. The exchange rate you do this at will probably be poor and there may even be associated fees but this is at least a quick and simple solution. Remember to take your proof of ID with you, this could be your photographic driver's licence or passport.

2) Visit your local bank

A few banks still allow account holders to deposit Travellers Cheques to their personal bank account and so it may be worth checking with your bank first to see if you can exchange your travellers cheques with them directly and they deposit the GBP equivalent directly into your current account. Once again, if you go in person to your local bank branch will be asked to present photographic ID that includes your signature for sign off of these cheques.

3) Go online

It is also worth visiting the issuer's website directly to get guidance on redeeming your travellers cheques.

For example, if your travellers cheque has American Express logo on them, you can click on this link American Express Travelers Cheques. The page provides you with your nearest location to exchange your Travellers cheques in person and also provides an option to redeem them online.

Alternatively, if your travellers cheques are issued by Travelex, Thomas Cook, Mastercard or Interpayment Visa you can use their encashment form found here encashment-form-newv5.pdf (travelex.co.uk)

Generally speaking, exchanging your travellers cheques into cash requires you to print out and complete a form from the issuer. You will be asked to complete the details of the currency denominations of your travellers cheques and also to keep a record of their respective serial numbers. Additionally, since this process is done online and not over the counter in front of a clerk, they will request a copy of your proof of identification which also includes your signature. This can be a photograph drivers license or a passport. For larger amounts they may even request a proof of address - so a recent utility bill or bank statement.

Make sure you have the above at hand when filling these forms out to make things quicker for you

What are the alternatives to taking travellers cheques?

Travel money is a very easy and cheap way to spend money abroad. To find the best exchange rate, simply go online and compare exchange rates and any associated fees that foreign exchange providers are offering.

Some foreign exchange companies may say no commission and no fees on top but may in fact hide their fees within the exchange rate. So, instead of purchasing your travel money at the real exchange rate, you may be offered something away from that rate and this is the spread which incorporates their fees.

Other companies are easier to buy travel money online from as they are transparent. The Currency Club for example, offers their best exchange rates on any currency and additionally gives you access to review the live interbank exchange rate before you confirm your transaction giving you complete transparency. You can then easily compare how much you can save. The company will deliver the travel money directly to your home, fully insured by 1pm using with you selecting the day that suits you best.

Credit cards (pre paid and others)

There has been a significant increase in travellers using their cards abroad. Of course a pre paid currency card helps travellers to budget, as you top up only the amount you wish to spend. Additionally, like travellers cheques they can be a safer option in the event that your card is stolen.

However, the problem arises when you visit a place that does not accept cards. In which case you are at the mercy of taking cash out of ATMs when abroad and this can work out to be very expensive.

Not only may you get charged withdrawal fees each time, but the exchange rate may also be very poor since ATMs are also charging you for the convenience of having cash on tap!

The safest and most sensible solution is to always have some travel money and perhaps one other alternative. This way, it's easier to stick to a budget and it means you will not need to waste your time or money visiting ATMs when abroad.

Buy Traveller Cheques

As an alternative to cash, we offer the best currency exchange rates on travellers cheques. They are safest ways to carry money around. In the event that the travellers cheques are lost or stolen you can report this and receive a replacement immediately.

Make sure you sign each travellers cheque when you receive them from us and keep the serial numbers in a safe place before you travel so you are protected in the event that your cheques are lost or stolen. When you want to make a purchase or exchange them for cash, just sign the travellers cheque in the designated area in the presence of the acceptor, along with your passport (you may be required to show your passport when you decide to use them).

Then you're good to go!

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Travellers Cheques – Travelex, Visa Interpayment & Thomas Cook Mastercard

Holder reimbursement, lost or stolen travellers cheques, corporate / business reimbursement, quick links, about travelex, useful information, customer support, travelex foreign coin services limited.

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Travellers cheques came about mainly as a more secure alternative to carrying cash around when travelling abroad. The main security feature of a traveller cheque is the signature. When you purchase your cheques here in the UK, you will be asked to sign each and every one so that when you come to trade them in, your signature can be checked with that of the one on the cheque.

Along with this, you also have some peace of mind in that if they are stolen, you can request replacements when you submit your travellers cheques numbers (that you will have noted down seperately somewhere!).

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• Travel abroad

Take cash in and out of the UK

Taking cash in and out of great britain.

You must declare cash of £10,000 or more to UK customs if you’re carrying it between Great Britain (England, Scotland and Wales) and a country outside the UK.

If you’re travelling as a family or group with more than £10,000 in total (even if individuals are carrying less than that) you still need to make a declaration.

If you’re travelling to Northern Ireland and carrying more than €10,000 (or equivalent) you must follow the rules for taking cash into Northern Ireland.

The earliest you can make a declaration is 72 hours before you plan to travel.

Taking cash in and out of Northern Ireland

You must declare cash of €10,000 or more if you carry it between Northern Ireland and any non-EU country.

You must also declare cash of €10,000 or more if you’re arriving in Northern Ireland from Great Britain. You do not need to declare any amount of cash when travelling the other way, from Northern Ireland to Great Britain.

If you’re travelling as a family or group with more than €10,000 in total (even if individuals are carrying less than that) you still need to make a declaration.

Customs authorities may ask you to fill in a cash disclosure form if you send cash by freight, post or parcel between Northern Ireland and any non-EU country. This includes if you send cash from Great Britain to Northern Ireland.

Types of cash you must declare

You must declare:

• notes and coins
• bearer bonds
• travellers’ cheques
• cheques (including travellers’ cheques) that are signed but not made out to a person or organisation

If you are carrying cash in or out of Northern Ireland, you must also declare:

• money orders
• gold coins, bullion or nuggets
• prepaid cards

What you’ll need to make a declaration

You’ll need to give details of:

• who’s carrying the cash, the owner of it and the recipient of it - including passport or ID document number, and address
• your journey - with any countries you pass through in transit, including flight numbers or ferry routes
• the amount and type of cash being carried
• the source of the cash - the country it came from and how it was generated (for example, through earnings or selling something)
• what the cash will be used for

How to declare cash

If you’re leaving the UK, you must declare cash before you leave the country.

If you’re coming to the UK you can declare cash before you travel or as soon as you arrive in the UK.

Declare cash before you travel

Declare online for:

• cash you’re carrying between Great Britain and any other country
• cash you’re carrying between Northern Ireland and a non-EU country
• cash you’re carrying from Great Britain to Northern Ireland

If you cannot use the online service you can make your declaration over the phone.

Customer Service Group Telephone: 0300 322 9434 Monday to Friday, 8am to 6pm Find out about call charges

Declare cash when you arrive in the UK

At UK customs, follow ‘goods to declare’ or ‘red channel’ signs, and tell a Border Force officer you want to declare cash. You may have to use a courtesy phone.

They may give you a paper form to fill in or take your declaration themselves.

If there is no way to make a declaration at the port or airport when you arrive, call 0300 322 9434 and make your declaration over the phone.

If you do not declare cash that you should have, all the cash you are carrying can be seized by a Border Force officer. You may have to pay a penalty of up to £5,000 to get it back. This can be taken from the cash before the rest is returned.

Any cash can be seized if customs authorities have reasonable grounds to suspect a crime. They can keep the cash for 48 hours - after that they need a court order.

How to appeal a penalty

You can write to the Fraud Investigation Service if you disagree with a penalty. You must state why you disagree with the decision you’ve been given.

You have 30 days to appeal from the date of the penalty notice.

Fraud Investigation Service FIS POC Operations - Cash Declaration Penalty Team S0079 Newcastle NE98 1ZZ

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• Cashing Travelers...

Cashing Travelers Checks in Britain

Yes, I know using ATMS to get cash is cheaper/convenient, but we think we got a good rate with no fees cashing them at UK post offices. We usually take travelers checks as back up. Can someone verify that we did get good rates after all?

Say goodbye to "no fees" if you try to cash travelers checks anywhere, anymore. You'll be lucky if you get face value for them in some places. I have no idea how long ago you traveled, but TC are virtually impossible to cash anywhere now, and when you can cash them the fees and exchange rate are terrible.

The ONLY way to know if you got a good exchange or not is to KNOW the exchange rate. How can anyone verify if you got a good rate or not without know what rate you got and what day. Give us a break. We are not mind readers. Companies who issue TCs have to make money somewhere. Mostly likely you paid a higher exchange rate when you bought and a higher rate when you cash. Before you do any currency transaction you have to know the current rate or otherwise you just a sucker waiting to be fleeced.

Sorry--I didn't make myself clear. Yes, we got a decent exchange rate cashing travelers checks with no extra fees using a postoffice in Yorkshire (UK) as compared to using the ATM the same day (ATMs still better but TC rate was competitive for people who use them as backup). I didn't pay for TC's since we get them free so that wasn't an issue. I just wondered if post offices in other counties also a good place to cash traveler's checks.

I don't think post offices in other countries provide the same services as in Great Britain. Post offices are always going to be harder to find because there are fewer of them. Personally don't view that as a very dependable back up method. If I need to use my emergency cash, not sure I want the problem of finding somewhere to cash the TCs. Rates may be "competitive" at 3 to 5 percent but it is still extra 3 to 5 percent.

A few years ago we had American Express travellers checks. A bank in London recommended that we cash them at an AmEx office to avoid the banks fees. Amex gave us going rate with no fees. Check with AmEx. Not sure if this still works

Karen I don't see any reason why post offices across Britain who charge different rates on the same day.

I've just looked at the AMEX website which says, "* While you can get dollar for dollar exchanges with no charges in the US, merchants in other countries may not change your Cheques for cash in the same currency without charging a fee. ** Please remember to ask the merchant if they do accept Travellers Cheques as American Express cannot guarantee that all merchants in the USA accept Travellers Cheques as a form of payment. Commission fees and charges may apply and vary by country or exchange partner. For information on where to use your Travellers Cheques, visit americanexpress.com/useTC." ...... you pays your money and takes your choice ......

My son is going to England for 4 months,, are travelers checks a good idea

^^^ Please re-read this thread and all of the posts. Travelers Checks are barely accepted nowadays so no, they are NOT a good option.

Back on the OP's topic, I would think TCs would be an awful backup. Very hard to cash, hard to find a place to accept them - no matter what the rate. If you need an emergency backup, saving costs shouldn't be the object. The point of an emergency backup is to get money access fast and convenient. Getting a cash advance on a credit card or carrying your own local currency that can be exchanged makes a lot more sense.

This is a 3 year old thread. If travelers checks were a bad idea then, you know it is still a bad idea.

This topic has been automatically closed due to a period of inactivity.

We earn a commission for products purchased through some links in this article.

Cash, card or traveller's cheques? Travel money options

We all know that pitching up at the airport to buy our foreign currency is generally the worst travel money option, but what's the best? It all depends…

On the high street: The Post Office and M&S foreign exchange bureaus are competitive but don't assume they always offer the best rates. You may be able to find better deals from smaller, independent foreign exchange services.

For security: Pre-paid currency cards offer competitive exchange rates and are a safe way to carry large sums of money. Go for one of the online FX services or mytravelcash.com .

In the US and big resorts: Traveller's cheques can still be exchanged for currency and they are easy to change back on your return.

Making big payments: The Halifax Clarity Credit Card is undoubtedly the best credit card to take away, with absolutely no exchange fees – even the cost of withdrawing money from an ATM is low compared with other credit cards.

Read our guide to prepaid cards here

How to get the best deal on your travel money

How to book the best flights

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What Are Travellers Cheques? Understanding the Basics

• by Lucy James
• March 10, 2023
• 6 minutes read

Table of Contents

Traveller’s cheques are banknotes issued by banks to their customers for making payments at foreign currency exchange offices or ATMs or for withdrawing money. The cheque’s issuer is the bank that issues it. Traveller’s cheque usage was first introduced in 1772 and has seen a number of improvements since then. Today, travellers’ cheque usage has grown tremendously, with more and more financial institutions offering these convenient payment options. While they are mostly used overseas, you can now use them at home as well. In this blog, we’ll tell you all you need to know about traveller’s cheques – how they work and how to use them safely at home as well as abroad.

What Are Travellers Cheques?

If you’re travelling overseas, you might be familiar with traveller’s cheques . These pre-printed cheques for fixed amounts are a convenient way of holding money when travelling. They’re issued in foreign currencies and can be exchanged for cash at any bank abroad. While they’re a safe alternative to carrying cash, it’s important to sign each cheque and take note of the serial number of every cheque that is issued in case it needs to be replaced at a later date. Traveller’s cheques are popular because they’re safer than cash and don’t have an expiry date, making them a preferred option for many travellers.

How Travellers Checks Work?

One of the most common ways for travellers to check work visas is to apply for them through recruitment agencies. These agencies have contacts with various organisations that need visa-holders and can help find employment for them. They generally charge a fee for their services, which varies from agency to agency.

Another method of checking work visas is through online job boards. These are commonly used by professionals looking to seek out opportunities in other countries. They can be found on websites such as Indeed and Monster.

Travellers who want to check work visas can also opt to visit embassies or consulates of the country they are interested in working in. These are generally tasked with issuing visas and will be able to help provide accurate information about conditions, pay, and other considerations.

Who Provides Travellers Cheques?

When travelling to the United Kingdom, it is important to know where you can obtain travellers cheques. Travellers cheques can be obtained from the post office, a bank, currency exchange offices and travel agents.

1. The post office is a good place to start when looking for travellers cheques. The post office offers a variety of services, including currency exchange and money transfer. In addition, the post office offers a wide range of currencies, so you are sure to find the right one for your needs.

2. Banks are another option for obtaining traveller’s cheques. Banks offer many of the same services as the post office, including currency exchange and money transfer. However, banks typically have a wider range of currencies available. In addition, banks usually offer better rates than the post office.

3. Currency exchange offices are another option for obtaining travellers cheques. Currency exchange offices offer a variety of services, including currency exchange and money transfer. In addition, currency exchange offices often have a wide range of currencies available. However, currency exchange offices typically charge higher fees than banks or the post office.

4. Travel agents are another option for obtaining travellers cheques. Travel agents typically offer a variety of services, including currency exchange and money transfer. In addition, travel agents usually have a wide range of currencies available. However, travel agents typically charge higher fees than banks or the post office.

Where Can I Exchange Travellers Cheques?

Travellers’ Cheques are a widely accepted form of payment throughout the world and can be exchanged at many financial institutions and banks. Here are some places where you can exchange Travellers Cheques.

Local Post Office: You can exchange Travellers Cheques at your local post office. Most post offices accept Travellers Cheques as payment for postage or money orders.

Bank: You can also exchange Travellers Checes with your bank. Many banks and credit unions offer Travellers Cheque exchange programs, which allow you to deposit Travellers Cheques into a bank account and withdraw them as cash when you travel abroad.

Local Currency Exchange: If you do not have an account with a mainstream bank, consider visiting a currency exchange that specializes in Travellers Cheques. They will be able to exchange your cheque for local currency at a competitive rate.

Tips for Safely Using Travellers Cheques

Traveller’s cheques are a convenient and secure payment method for travellers. They can be refunded if lost or stolen and offer the same level of protection as bank debit or credit cards .

However, pre-travel budgeting is important to avoid spending too much on the trip. Look for a secure payment method, such as a prepaid card, that offers features such as transaction fees and balance checks.

American Express provides its Travelers Cheques Encashment service, enabling users to cash traveller’s cheques at an exchange rate of 0.5 per cent above the interbank exchange rate for Visa and MasterCard holders. On the other hand, Visa Travelers Cheques offer convenience and security with a currency exchange rate of 1 per cent. Both options provide travellers with a choice of payment options and financial protection.

How to Redeem Your Travellers Cheques?

Redeeming your travellers cheques involves making sure that the funds are available in your bank account. Once you have accomplished this, you can use it to pay for your travel expenses. Here are some steps on how to redeem your travellers cheques:

1. Ensure that the funds are available by checking the statement and reconciling any discrepancies with the bank.

2. Contact your bank and ask them whether they have any issues with the cheque. They may require additional documents, such as a copy of their passport or a personal identification number (PIN).

3. If they do not have any issues, go ahead and deposit the cheque. This is done by going to a nearby ATM or using a payment machine at your bank.

4. Finally, keep a photocopy of your cheque for future reference. You will need it to get another one if you wish to withdraw money from an ATM or use it for other purposes.

Security Features of Travellers Cheques

Travellers cheques are a specific paper that is used to make payments between banks and other financial institutions. These cheques have intricate details such as watermarks, raised textures, and a holographic thread to help improve security.

Watermark: The watermark is a subtle image or pattern that appears on the front of the cheque when it is held up to a light source. The watermark can contain information about the bank or financial institution that issued the cheque, such as its logo or name, and can serve as an additional security feature.

Raised Textures: The texture on the back of the cheque has small bumps or ridges that make it more difficult for someone to counterfeit by using a laser printer. This provides an additional layer of security for banks and financial institutions that use Travellers’ cheques.

Holographic Thread: A holographic thread is a line of the fine print on the back of the cheque that appears when it is held up to varying lighting conditions, making it even more difficult for someone to counterfeit.

Advantages and Disadvantages of Travellers Cheques

1. Travellers’ cheques are a fast and convenient way to get money out of the country.

2. They can be used in almost any country, so you’re not limited to certain areas when using them.

3. If something goes wrong with your traveller’s cheque, there is usually a global network of banks that will help you sort it out.

Disadvantages

1. They can be a bit more expensive than other methods of getting money out of the country, such as cash or electronic transfer.

2. Traveller’s cheques can sometimes take a long time to clear, so if you need money quickly, you may be unable to use them.

3. If you lose or misplace your traveller’s cheque, it can be hard to get another one, and you may have to go through the process of replacing it.

Travellers checks are a popular option used in travelling. They’re a fast and relatively secure way to exchange currency. However, there’s a lot of misconception surrounding travellers cheques. We’ve explained the basics of traveller’s cheques and how they work.

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What is Travellers Cheque? Get Ready to Travel

How to cash a cheque without a bank account

PayPal Editorial Staff

29 November 2023

Whether it’s a salary cheque, a personal cheque or a government cheque, it’s possible to cash a cheque without having a bank account. This article explores seven ways to cash a cheque without a bank account.

This article includes tips, suggestions and general information. We recommend that you always do your own research and consider getting independent tax, financial and legal advice before making any important decision.

Ways to cash a cheque without a bank account

The proportion of British adults without a bank account continues to steadily drop — yet approximately 2% of adults lacked a bank account as of May 2022, according to the Financial Conduct Authority (FCA). 1

There are different ways to cash a cheque without a bank account. This article explores the following methods:

Cash a cheque at the issuing bank

Cash a cheque at a retailer, cash a cheque at a post office.

• Cash a cheque using an online provider

Deposit a cheque onto a prepaid debit card

Cash a cheque at a cheque-cashing store, endorse a cheque to a third party.

Some banks, credit unions, and building societies allow non-customers to cash cheques that were issued by them. They may charge either a flat fee or a percentage of the cheque amount. Fees and other costs may apply and may vary depending on the issuing bank.

The process may look something like this:

• Locate and go to a branch of the bank that issued the cheque.
• Endorse the back of the cheque by signing it.
• Present identification and the cheque to the bank teller. Confirm the cheque details.
• Once the cheque is verified, the teller can process the transaction and provide the cash equivalent of the cheque.
• Keep the receipt as proof of the transaction.

Some retail chains, large supermarkets, and corner shops offer cheque-cashing services for a fee.

The process is similar to cashing a cheque at the issuing bank. Before receiving the funds, individuals may be charged a fee for processing and cashing the cheque.

These types of retailers may also limit how much someone can cash for non-personal cheques, such as government cheques.

Many post office branches allow customers to cash cheques without a bank account. A valid form of ID with a photo is usually required, as well as the physical cheque that is to be cashed out.

However, a post office may limit this service to certain types of non-personal cheques, such as government cheques.

Cash a cheque using an online service

Some financial services provide the ability to cash a cheque online.

This is typically how it works:

• Set up an account with the service provider. The provider will likely request various personal information (name, email, address, etc.), but the steps may vary.
• Once the account is set up, take a photo of the front and back of the cheque using the provider's mobile app.
• Once the app verifies the cheque's authenticity, it will deposit the funds directly into the account with the provider. The funds can then be transferred to another account if desired. Note that it can take several days or longer for a cheque to clear, depending on the online account provider and the cheque’s issuing bank.
• Some providers may charge fees or other costs for account setup or cashing of cheques. Review all terms to stay on top of any potential costs.

Another way is to deposit a cheque onto a prepaid debit card, which functions similarly to a bank account debit card but doesn’t require a bank account to be opened.

Once a prepaid debit card is activated, a cheque can be deposited using the card provider’s mobile app or website. The card can then be used to make purchases or withdraw cash. However, not all prepaid debit card providers may provide this service, so it is crucial to confirm whether someone can deposit a cheque on the card before taking it out.

Cheque-cashing stores specialise in cashing cheques. However, it’s important to note that they often charge relatively high fees.

These fees can either be a percentage of the cheque amount or a flat amount. Fees may vary depending on the cheque-cashing store or the amount of the cheque.

Signing a cheque over to a trusted third party, such as a friend or family member, allows them to deposit the funds into their own bank account. This process is also known as endorsing a cheque to a third party.

When endorsing a cheque to a third party, the individual will be relinquishing control of the funds, so it’s important to sign a cheque over to someone trusted who will transfer the funds back to them.

How to cash a large cheque without a bank account

Cashing a large cheque can be more challenging without a bank account, as some retailers have limits on the maximum amount someone can cash.

These are some options for people who may need to cash a large cheque:

• Issuing banks:  Keep in mind that not all banks, credit unions, and building societies offer this service, so it's always best to verify whether non-customers can cash cheques. There may also be fees charged for non-customers attempting to cash a cheque.
• Cheque-cashing stores:  Note that these stores often charge high fees, which may eat into the cheque’s value.
• Third-party cheques:  Signing a cheque to a third party is another option available, though those doing so should ensure they endorse the cheque to a trusted third party. The third party should have a bank that allows for the amount of the cheque to be cashed.

How to cash a government cheque without a bank account

Cashing a government cheque without a bank account is possible with some of the solutions outlined above, including retailers, cheque-cashing stores, and online providers — as long as the cheque doesn’t exceed the accepted amount limit.

Potential costs when cashing a cheque without a bank account

Depending on where someone decides to cash a cheque, there may be potential fees and additional costs involved. Some methods may include:

• Cheque-cashing fees
• Fees to expedite the funds immediately
• Prepaid card fees

Be sure to review any terms and fees associated when determining which method to use.

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What to do with Thomas Cook traveller’s cheques

I have had some Thomas Cook traveller’s cheques in sterling for many years that I kept for emergency use abroad. Are they of any value?

I also have some other American Express traveller’s cheques. Is there any advantage in keeping them or should I cash them in? Martin Bellman, London

Martin is not the only person who has contacted The Times since the collapse of Thomas Cook to ask if their traveller’s cheques are still worth the paper they are printed on. It seems that the demise of the world’s oldest tour operator jogged quite a few readers’ minds that stuffed in the back of the sock drawer they still have a clutch of these old travel essentials.

I must admit I was slightly surprised by this, naively believing that traveller’s cheques would have been consigned to history. Thomas Cook, a cabinet maker and former Baptist preacher, was a pioneer of the traveller cheque. His story begins in July 1841 when he chartered a train to take Temperance supporters 12 miles from Leicester to a meeting in Loughborough.

In 1855 Cook went international, organising trips to Europe and then North America, and in 1874 launched the “circular note”, the precursor of traveller’s cheques, which could be cashed overseas for local currency. In 1994 Thomas Cook acquired Interpayment Services Limited, a subsidiary of Barclays bank, to become the largest supplier of traveller’s cheques outside the US.

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The demise of Thomas Cook travel agency on the high street and in the skies has not killed traveller’s cheques. Travelex, which bought Thomas Cook’s travel money business in 2000, will still accept the cheques, albeit for a 5 per cent fee. I would recommend cashing them in, along with any others you might have knocking about, and treat yourself to a night out.

The hundreds of thousands of customers with advance Thomas Cook bookings that were automatically cancelled on September 23, when the company went into liquidation, and that are Atol protected can begin claiming for full refunds from Monday.

The Civil Aviation Authority has an online form that will go live when the claims process begins. Follow instructions at thomascook.caa.co.uk , under the section headed Customers yet to travel out of the UK.

Beware scammers who are trying to defraud Thomas Cook customers. Go direct to the CAA website and do not engage with third parties that claim they will help with a refund. If you have trouble, call the CAA on 0300 303 2800. If you have a travel question you would like answered email [email protected]

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Online Travelers Cheques Redemption: Frequently Asked Questions

Is there a fee to redeem my Travelers Cheques online?

No, we do not charge a fee for this service.

How long will it take to redeem my Travelers Cheques online?

We will usually process your claim and initiate the payment within 5 business days from the date all required documentation and information needed to verify the redemption claim is received. We may have to contact you with questions regarding your claim or to request additional information.

What exchange rate will I get for “cross-currency” payments, e.g. my Travelers Cheques are in USD, but I live in Australia?

Our exchange rates for payments made by American Express in currencies other than the Travelers cheque currency are based on interbank rates selected from customary industry sources, plus 2.5% margin on the business day the refund payment is processed. We call this conversion rate the 'American Express Travelers Cheque Settlement Rate’.

Cross-currency transactions are triangulated via U.S. Dollars: e.g., if Travelers Cheques in Euro are to be paid in Pounds Sterling, the Euro amount will be converted using the American Express Travelers Cheque Settlement Rate into U.S Dollars and the U.S Dollar amount converted into Pounds Sterling on the day the refund payment is processed.

Is there a limit to the value of Travelers Cheques that I can redeem online?

You can redeem your Travelers Cheques via this service for up to USD 1,000 or equivalent value only. For amount greater than USD 1,000 or equivalent value please call our Customer Service Centre .

Which currencies of Travelers Cheques can I redeem?

You can redeem your Travelers Cheques in the following currencies: USD, EUR, CAD, GBP, AUD, and JPY. To redeem Travelers Cheques in other currencies please call our our  Customer Service Centre . 

Which currencies can I receive payment in? Payment for your Travelers Cheques redemption claim can only be made in USD, EUR, CAD, GBP, AUD, and JPY. For payment in any other currencies please call our  Customer Service Centre .

Do I need to provide any supporting documents?

In some cases, we may need to ask for extra documentation to help us establish the validity of the request. This may include an ID proof (Driving Licence or Passport copy), copy of voided Travelers Cheques and/or Purchase receipt (proof of purchase). In some instances, we may also ask for original Travelers Cheques to be sent to us.

Will you be capturing personal information?

Yes. Your personal information will only be used in connection with this claim and for no other purpose. For more information about how we use your data please refer to our Privacy Statement .

Do I need to send my Travelers Cheques to American Express?

We will sometimes ask for proof of the Travelers Cheques. Please note that after you initiate a claim online, the Travelers Cheques are unusable. In some circumstances, we may request that you send us the original Travelers Cheques before we process your claim.