$0 commission Amex Travellers Cheques offer from Amex.

Mal · #1 (**permalink**) 3rd March 2006, 10:37 PM

"Simply order your American Express foreign Travellers Cheques here between 1 March and 30 April 2006 and you will pay no commission!"

https://www.fx4you.com/australia/ame...ress/index.cfm

Uses BPAY, so most (but not all) credit cards regard it as a purchase rather than a cash advance -- therefore points on the purchase.

(and yes, I do realise that certain Amex cards and certain colours of credit cards get $0 commission T/C's, but not everyone has one of those cards!)

serfty · #2 (**permalink**) 4th March 2006, 12:36 AM

Sounds a good tip Mal, but I must admit I find T/C's a PITA these days.

Kiwi Flyer · #3 (**permalink**) 4th March 2006, 05:03 AM

Likewise. Only use T/Cs if likely to find mysefl somewhere where other sources of cash not readily available, eg no ATMs.

cssaus · #4 (**permalink**) 4th March 2006, 08:32 AM

I think it's designed as an incentive to regenerate interest in their Travellers Cheque product. With the advent of being able to use an ATM just about anywhere these days or get cash advances on credit cards (even taking into consideration the fees involved), T/Cs are becoming somewhat of a dinosaur.

drron · #5 (**permalink**) 4th March 2006, 11:07 AM

Travelling to the states I have no problem with travellers cheques.I have always got them commission free-CBA with gold card.They are accepted virtually everywhere without cost.So cheaper than cash and much cheaper than credit cards.

Johan · #6 (**permalink**) 4th March 2006, 02:02 PM

It's quite strange (given that they are selling AMEX TCs) that they accept Visa and MC via BPay, but not AMEX!

JohnK · #7 (**permalink**) 4th March 2006, 02:06 PM

I have noticed in SE Asia the traveller cheque exchange rate is always better than the cash exchange rate and no commission is charged. So if you can get traveller's cheques at pay no commission here in Australia you have done well.

Johan · #8 (**permalink**) 4th March 2006, 02:12 PM

Additionally, it could be a good hedging/betting tool. e.g. if I need some USD for a holiday in 6months' time, but thought that the AUD would significantly depreciate against the USD, I could buy some USD TCs now. It is safer and cheaper than buying/keeping cash.

JohnK · #9 (**permalink**) 5th March 2006, 02:25 AM

That sounds like a good suggestion. Helps if you know something about currency exchange rates and fluctuations.

Now where did I put that crystal ball.

Lindsay Wilson · #10 (**permalink**) 5th March 2006, 05:34 PM

Can't remember the last time I used TC's. Nowdays, I just take 3-5 days in cash and put the rest on the CC (having put funds onto it before I go, to soften the blow when I get the bill).

Nonetheless, interesting that Amex has fee-free ones...but they are more hassle than flicking the 'ol plastic across the table (but I suppose in some places, the TC's would be a better risk).