HSBC is no longer cashing Sterling Travellers Cheques from 27th June

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• James67 says:

  14 Jun14 June 06:34

  I am not sure how this could work. As I understand it when you receive a new amex card it cannot be used for currency or TCs because it has no cash facility. I have been told by cs you need to wait 6 months to apply for that which obviously exceeds the time limit on target spend. Am I missing something here; if you have a cash facility on an existing card do all new cards come with it automatically?

  • Polly says:

    14 Jun14 June 08:56

    Hi James , all new credit cards come with a daily cash facility. You just need to activate it separately, it’s written somewhere in t and c … Or call up cluster re services. I had to do it for our BACC as my euros order was too high, so had to make two smaller orders. And you can do it immediately, no waiting time as you think.

    • James67 says:

      14 Jun14 June 09:02

      Thanks Polly, this is what I did (twice) . Both times I was told I had to wait 6 months then complete and send a form.

      • Polly says:

        15 Jun15 June 08:34

        That’s weird, I definitely did it in march after getting my new plat, within a few days needed euros, and baht, got both. I did call up c s, and they were v helpful. We also did it last year with both our SPG cards, as we also needed currency then. Maybe they have tightened their currency rules. But it would have been a blow to us, as we needed the currency for travel soon after. I would question that again. You might get a better informed csa next time you call in.

  • Rob says:

    14 Jun14 June 09:46

    Existing Amex customers seem to be treated differently.

    • James67 says:

      14 Jun14 June 10:53

      Yes, probably because I was a new customer as off last year.

• Andrew (@andrewseftel) says:

  14 Jun14 June 08:20

  I’m surprised that they’re withdrawing the facility with so little notice. I assume you’ve deposited a sterling TC in the past? Have they written to you about the change? First Direct customers especially would be unlikely to see that notice in branch.

  If this is all the notice they’re giving, seems to me they’re setting themselves up for a bad relationship with the FCA…

  • Rob says:

    14 Jun14 June 09:44

    That sign was in the branch. I haven’t been told directly and wouldn’t have seen it if I hadn’t had a cheque to pay in.

• Sinizter says:

  14 Jun14 June 08:46

  Which bank do accept travellers cheques ?

  • James67 says:

    14 Jun14 June 09:04

    Had no problem at Halifax or Nationwide

  • Gill says:

    14 Jun14 June 10:57

    Barclays accept hem but I am the only person in Glossop that ever has any according to the counter staff.

• Fenny says:

  14 Jun14 June 09:13

  This reminds me that I really ought to find the $150 or so of TCs I’ve had sitting around in the spare bedroom for the last 15 years or so.

• Volker says:

  14 Jun14 June 09:33

  On a side note: For the first time, a money transfer through HiFX (which I used for sending money abroad on a regular basis) was treated by MBNA as a cash advance rather than a purchase last month. I earned thousands of AVIOS via this channel but obviously have to say “adios” to this great opportunity now. Despite using the same BMI CC for this purpose for years, they even declined the transaction temporarily and sent me a fraud alert message!
  Our hobby seems to get more and more difficult…

  • James67 says:

    14 Jun14 June 09:46

    Oh; huge missed opportunity for me. Could have raked in lots of miles withthat.

• idrive says:

  14 Jun14 June 09:55

  Raffles, why do you write “an easy fraud route” what do you mean exactly?
  is the cash limit on the card daily or monthly?

  • Rob says:

    14 Jun14 June 10:52

    What I mean is that if you could fraudulently get an Amex card then buying currency is an easy way to liquidate it. That is why Amex is more cautious.

    • idrive says:

      14 Jun14 June 14:42

      yes but still you need to access the flat/mail of the receiver, you can not send them to an office address or else. Moreover, if you do not sign when royalmail comes, you need to collect the splip at the post office, if it was not delivered showing a document or….a Card! so in this case it would be successful but otherwise, it could easily raise suspects on the cardholder if royalmail pushed the bell while you are at home! so this could be an internal fraudster in your building or with access to it on a daily basis

      • idrive says:

        14 Jun14 June 14:44

        PLUS, Banks do not allowed to withdraw cash against TCs. They only accept TCs if

        1) you have a bank account at their bank
        2)if you cash in your own account (in that case how can you get the money)?

    • idrive says:

      14 Jun14 June 14:59

      you did not answer, is the cash limit daily? so far I have done 1 a month sometimes, not more as I thought that was a limit one a month

      • Rob says:

        14 Jun14 June 15:05

        Not officially but 99 per cent certain there is one they don’t tell you about

        • idrive says:

          14 Jun14 June 15:12

          i ask you because I tried once to buy a 750TC order with a 900limit printed on statement but was refused and got a message on my mobile advising this would have brought me over my cash limit, which means they must have setup a ratio to cash limit for TCs.

• jon says:

  14 Jun14 June 09:59

  Is manufactured spend like this considered fraud?

  • Rob says:

    14 Jun14 June 10:51

    No!

    • Jon says:

      14 Jun14 June 12:59

      Great, as an HSBC customer I’ve just done 500 on both my amex cards. Thanks for the tip!

• Clive says:

  14 Jun14 June 13:07

  If memory serves me correctly there is a 500 avios bonus on currency exchanges with BA at the moment for orders over £500

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