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crazy_arcade
Joined: 05 Nov 2006
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 Posted: Fri Jun 13, 2008 9:38 pm Post subject: Traveller's Cheques |
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Are both Visa and American Express traveller's cheques available in Korea?
What is the fee/commision for buying cheques in US dollars?
Thanks ^^ |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Sat Jun 14, 2008 2:32 am Post subject: |
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You are aware that both cash and plastic are safer and easier to use than Korean Travelers checks?
The usual fee is 1%. |
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crazy_arcade
Joined: 05 Nov 2006
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| Posted: Sat Jun 14, 2008 7:06 am Post subject: |
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Sorry, why would that be?
I don't see how $2000 in cash in the Philippines would be safer than 2000 grand in American Express US dollar traveller's cheques. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Sat Jun 14, 2008 7:22 am Post subject: |
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| crazy_arcade wrote: |
Sorry, why would that be?
I don't see how $2000 in cash in the Philippines would be safer than 2000 grand in American Express US dollar traveller's cheques. |
If you lose them you won't be able tp replace them until you get back to Korea.
You will have problems cashing them and you will usually get a significantly lower exchange rate.
If you have any left when you return you MAY have to wait until they clear before your bank will credit them to your account.
2 grand in cash is only 20 bills (5 in each pocket and don't worry about it).
Every hotel will have a safe you can use to put them in that is much more secure than your room or the safe in your room - USE IT.
You can exchange CASH at any one of 10,000 money changers in every town in the RP. There are lots of towns where you won't be able to cash a TC.
IF you are REALLY paranoid you can open a bank account at BPI or PNB and get a global ATM card that really does work everywhere.
But hey, what do I know. I'm just a newbie at this and AMEX has spent billions on advertising to convince you that you shouldn't take cash - surely they know better - not.
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FUBAR
Joined: 21 Oct 2003
Location: The Y.C.
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| Posted: Sat Jun 14, 2008 8:28 am Post subject: |
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| crazy_arcade wrote: |
Sorry, why would that be?
I don't see how $2000 in cash in the Philippines would be safer than 2000 grand in American Express US dollar traveller's cheques. |
I had a really hard time cashing traveller's cheques while in the Philippines. Especially in Cebu. |
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crazy_arcade
Joined: 05 Nov 2006
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| Posted: Sat Jun 14, 2008 8:32 pm Post subject: |
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Alright~ pretty interesting.
Thanks for the info and advice.
Cash and credit it is! |
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stevieg4ever
Joined: 11 Feb 2006
Location: London, England
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| Posted: Tue Jun 17, 2008 9:01 pm Post subject: |
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im having similar issues. are these american express issued traveller's cheques or korean one's?
| ttompatz wrote: |
| crazy_arcade wrote: |
Sorry, why would that be?
I don't see how $2000 in cash in the Philippines would be safer than 2000 grand in American Express US dollar traveller's cheques. |
If you lose them you won't be able tp replace them until you get back to Korea.
You will have problems cashing them and you will usually get a significantly lower exchange rate.
If you have any left when you return you MAY have to wait until they clear before your bank will credit them to your account.
2 grand in cash is only 20 bills (5 in each pocket and don't worry about it).
Every hotel will have a safe you can use to put them in that is much more secure than your room or the safe in your room - USE IT.
You can exchange CASH at any one of 10,000 money changers in every town in the RP. There are lots of towns where you won't be able to cash a TC.
IF you are REALLY paranoid you can open a bank account at BPI or PNB and get a global ATM card that really does work everywhere.
But hey, what do I know. I'm just a newbie at this and AMEX has spent billions on advertising to convince you that you shouldn't take cash - surely they know better - not.
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Wed Jun 18, 2008 1:10 am Post subject: |
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| I know people who have experienced problems with both AMEX and VISA branded T/Cs that were issued in Korea. |
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stevieg4ever
Joined: 11 Feb 2006
Location: London, England
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| Posted: Thu Jun 19, 2008 7:54 pm Post subject: |
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| Really?? That seriously beats. I was thinking of getting ones issued at Incheon before departing. |
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CrikeyKorea
Joined: 01 Jun 2007
Location: Heogi, Seoul
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| Posted: Fri Jun 20, 2008 2:02 am Post subject: |
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| I had no problems cashing cheques in cebu at a bank in the mall that is opened everday.... but i dont see why u would need that much cash at once, i think a CC and taking some cash out as u need it is a fair option... |
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moosehead
Joined: 05 May 2007
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| Posted: Fri Jun 20, 2008 4:38 pm Post subject: |
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I've used traveler's checks issued in K - but they were in American Dollars, not Korean-won - issued checks.
Korea issues checks now that are in WON which I can't imagine why anyone would be that stupid -
OP go to your bank, or even Citibank, and ask specifically for the ones you want and make sure they are in DOLLARS
easiest place to cash are always (1) other banks and (2) large hotels |
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Ramen
Joined: 15 Apr 2008
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| Posted: Fri Jun 20, 2008 5:29 pm Post subject: |
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| moosehead wrote: |
Korea issues checks now that are in WON which I can't imagine why anyone would be that stupid -
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Really?! I thought KRW was int'l exchange currency next to USD.  |
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