Warning … American Express Travel

Are you traveling outside the United States and need foreign currency?  Beware!

We are traveling to three eastern European countries the 30th of June.  So, as I usually do, I exchanged/purchased foreign currency prior to our trip.  There are many benefits:

• You don’t have to wonder whether or not you are getting a good rate from one of the many currency exchanges that you find in Europe.
• When you land in your host country, you are ready to start spending money!  Splurge and take a taxi!
• There are all types of security concerns … for instance, is this exchange legitimate or is this a real ATM or is it just recording my financial information.
• Not every establishment accepts credit cards.  The same is true in the United States.
• Hotels sometimes do not offer the best rates.
• Beware of vendor who accept your home currency, such as US dollars, you will always get a bad exchange.

In the past, I have used AAA, but they can be expensive and they sell currencies in pre-packaged packs.  So, this year I decided to purchase Euros from American Express.  I though, wow, you are so smart.  Wrong!

If you purchase currency from American Express, you better be ready to stay at home and wait for UPS to deliver your money.  There is no option but delivery to your billing address.  I understand that this is money that can get lost or stolen.  I understand.  But, you have no option to pick your package up from your local UPS center!  Nowhere is this mentioned on the website.  It doesn’t even say that they will ONLY ship to your billing address.

Customer service at American Express Travel is terrible.  The representative that I spoke with gave me one option, “return to sender.”  This is not a tenable option.  I leave home in 3 days!  The representative and the manager seem to expect me to know their policy with UPS, which also is not listed anywhere on their website.  So, what am I going to do!  Wait at home, miss work, and get further behind in projects than I already am!

American Express Travel, let me know the full policy, so I can make an informed decision.  I had the option of going to a local American Express Travel office, but decided that the convenience of delivery was better.  I was wrong!  Maybe?

Warning … think twice about using American Express Travel to order foreign currency or traveler’s cheques.  By the way, traveler’s cheques are becoming a currency of the past.  I bought this type of currency several years ago and fewer and fewer shops and institution will exchange this currency compared to the first time that I used them.  The last time that I used this currency I had to go to a bank in Greece.

The other lesson … don’t wait until the last minute.  American Express Travel won’t necessarily help!