Obsolete AMEX Traveller's Cheques
On the 3rd July, my wife and I embarked on a 6-week trip to celebrate our only son's marriage in Dehra Dun, India and hold reception in Mombasa, Kenya. To defray the expenses, we carried our full entitlement of $ 10,000. Standard Chartered Bank and as per Bangladesh Bank instructions issued TCs ($5,400) and rest in cash.
I was surprised when no bank/money exchange accepted the TCs in Dehra Dun and Delhi. In Mombasa, in my son's bank, we faced the same problem. After entreaties, they accepted but on collection basis, redeemable after 3 weeks. Eventually, both in Mombasa and Dubai, the TCs were cashed at great loss (up to 5%). Fortunately, our relatives in India and Kenya came to our aid when we were left high and dry.
This letter is to question BB and SCB why they still insist on TCs when they are no longer universally accepted and to warn other travellers of the embarrassing situation they may face.
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