USD Travellers Cheque Cashing in Sao Paulo

@Nomad Mundo why cash a travellers check?  It seems overly complicated.  You can just pay at the hotel with a credit card.  If needed you can exchange dollars to reals at GRU.  Very little cash is used in the Sao Paulo area, mostly credit cards, debit cards or PIX.

AMEX no longer issues travellers checks and hasn't for years.....who on earth still does is what I want to know ??

You can try the Safra forex counter at GRU arrivals, as that is probably your only bet IMHO.

08/06/24 @Nomad Mundo.  If your bank in the United States allows you to deposit checks by check image in their phone app (mine does), and if they allow you to deposit Travellers Cheques, then probably the easiest and safest way to get your money would be to deposit the TC in your US account right now, and withdraw the money from a Brazilian bank ATM in Reais with your US debit card when the check clears. 

That's assuming that the TC is one that you bought yourself years ago, so that you are both the payer and the payee.  If it's a check that someone wrote to you as payment for something, then the security issues multiply and you may have no choice but to go through all the paperwork and delays of a Currency Exchange.  I haven't seen a Travellers Cheque since the 21st Century began, and I doubt many Currency Exchange employees have, either.

@abthree

US banks only accept paper check images for payment processing but you still need to send the check by signing the backside in wet ink and filled-in check deposit slip before release of the actual amount into your bank account for usage.

Anyways.. I was able to get it done yesterday from a online company in Sao Paulo.. they said it's actually a normal international check cashing process and not that complicated. I needed to provide them with my Brazilian ID and Bank account & sign a contract for selling the check to them and would get money deposited within 2-3 weeks in my Brazilian bank account.

Rate : 5.25/$ - 0.38 (IOF) + 12% markup

Note:

• For Cashing International check up to $3,000, just Brazilian ID and Brazilian bank account is needed.
• For amount greater than $3,000, ID + account + supporting evidence about source of funding is mandatory.

@Gasparzinho 777 Looks like VISA is the only remaining issuer.  AAA still sells them for members, or you can get a VISA Travel Card.  I remember even back in the day they could be PITA to use while on travel.  Now all that is really needed is a credit card that doesn't charge FX. 

Rate : 5.25/$ - 0.38 (IOF) + 12% markup

Ouch!

08/07/24    @abthree US banks only accept paper check images for payment processing but you still need to send the check by signing the backside in wet ink and filled-in check deposit slip before release of the actual amount into your bank account for usage.

Anyways.. I was able to get it done yesterday from a online company in Sao Paulo..
    Nomad Mundo

My bank (Bank of America) doesn't require any of that, just the image of both sides of the endorsed check through the app.  But I'm glad that it worked out so well for you.

08/07/24    Rate : 5.25/$ - 0.38 (IOF) + 12% markup
Ouch!   

    -@mikehunter

Remember when you used to get a better exchange rate for travelers cheques because they were considered to be safer and harder to counterfeit than cash?  I do!  🤣

@AB/MH

To be upfront, I ended up getting this price after haggling with the other three vendors for two days, and the very last one seemed as if he had me gifted *The Christ Redeemer*, Just for offering me 5:25/$ against 5:75 commercial rate as of now.. A terrible wirado experience!

    @Gasparzinho 777 Looks like VISA is the only remaining issuer.  AAA still sells them for members, or you can get a VISA Travel Card.  I remember even back in the day they could be PITA to use while on travel.  Now all that is really needed is a credit card that doesn't charge FX.          -@mikehunter

Interesting.........I used the AMEX t/c for my first 3 trips to Brasil, and found them super easy to cash at any hotel or cambio. After that I started using credit cards and carrying some USD and Reais in my pocket upon departure. Haven't changed that system until I got my first bank account there.

    @AB/MHTo be upfront, I ended up getting this price after haggling with the other three vendors for two days, and the very last one seemed as if he had me gifted *The Christ Redeemer*, Just for offering me 5:25/$ against 5:75 commercial rate as of now.. A terrible wirado experience!-@Nomad Mundo

I spent an hour back and forth haggling with my banker last week on a wire transfer and got .03 more than they were trying to give me. This week the forex went up .10 more........KKKKKKK........win some, lose some.........forgot to recharge my crystal ball apparently.