Travellers Cheques Problem in Valencia Spain

pintofmilk

I have just been to the Benicassim Festival in Spain (which was fantastic by the way) followed by 2 days in Valencia. I bought 900 euros of travellers cheques and some Euros to go with.

When I tried to cash the cheques in the banks of Valencia I was told that they do not accept them. I found this to be amazing - they are American Express which I thought was universal accepted. Apparently not! I was staying at the wonderful Medium Conqueridor hotel double checked with hotel reception… they confirmed that travellers cheques are not accepted in Valencia!!

With useless cheques I was forced to withdraw cash from the holes in the wall paying Lloyds TSB over £2 in service charges each time I did so.
I have just been to my local Lloyds TSB branch to return the cheques to them as they were not fit for purpose. Lloyds TSB suggested that they buy them back from me £707 after I paid £800 for them. I refused to accept a loss of £93 on cheques that can not be cashed in my chosen holiday destination.

Having returned to the office and phoned both the Lloyds TSB helpline and my own branch, everyone confirms that its tough luck and I must surrender the cheques at the current rate of exchange and lose almost £100. I consider this unacceptable.

Has anyone else encountered such problems with American Express Euro travellers cheques in Valencia? What remedy have I got to get my money back?

richardw

pintofmilk wrote: »

which I thought was universal accepted.

Where did you get that from?

Smiley82

Unfortunately, I think you were told incorrect information whilst in Valencia, which is not the fault of Lloyds TSB.

A quick check of the American Express website (http://www.americanexpress.com/uk/tc/index.shtml) shows that travellers cheques are in fact useable in Valencia, and when searched is lists 100 places where they can be cashed. (http://www.aetclocator.com/uk/map?scountry=ES&scity=Valencia)

It's not Lloyds fault that you were misinformed, and didn't do the research as to where they could be cashed, so I can understand why they don't want to entertain a 'refund' as such.

Maybe you could try selling them at one of the currency vendors (Thomas Exchange Global etc) as their rates are usually slightly better than banks.

Otherwise, maybe use them for your next trip?

Hope this helps, even if it wasn't what you wanted to hear

pintofmilk

Thanks Smiley. It seems that I held Amex cheques in too high regard - I will have to keep hold of them for another trip. I will open a Nationwide account (think it's Nationwide?) for fee free hole in the wall withdrawals abroad.

Cheers
Ben