Originally Posted by Analise
No, it's not. I can buy travellers checks from AAA and not pay a fee for it. It's like swapping currency.
Today, I was just quoted $1.399 per euro, with NO FEE at AAA. The Euro is trading at 1.2948. That is 7.5% discount.
In old days, I purchased a lot of foreign currency TC's from AAA. Although I never payed a fee, I never got them at the bank rate either. Nothing like today's discount, but still a 1-1.5% discount.