Because traveler's checks have no expiration date, you might be tempted to sock any leftover checks away in anticipation of your next trip. However, unless you're going to be taking your next trip very soon, holding a traveler's check for too long amounts to providing an interest-free loan to the issuer of the checks. To avoid this, you should cash your unused checks immediately, so you can access your funds right away. There are a number of ways to do this, but be aware that some institutions will slap you with a fee for this service.
Depositing old traveler's checks in the bank is the easiest way to deal with them, provided they are denominated in U.S. dollars. Make sure that your bank will accept them without imposing some kind of fee. Banks will generally cash traveler's checks even if you don't have an account with them, but be aware that you are very likely to be charged a fee in that instance.
If you take old traveler's checks to a retailer and buy something with them, you will receive your change in cash. Since many retailers will be reluctant to accept more than a few hundred dollars at a time, this technique may work best with checks that are worth smaller amounts.
Take old traveler's checks to an office of the company that issued them -- such as American Express, Barclays, Thomas Cook and Citicorp -- and cash them there. A disadvantage of this approach is that issuers don't always have conveniently located offices; even if they do, there is no guarantee that they will cash traveler's checks. Check with the individual office before you go, and ask about possible fees as well.
To cash traveler's checks denominated in something other than U.S. dollars (such as euros, pounds sterling or yen), you must deal with the foreign exchange department of a bank or a company that specializes in foreign exchange. Fees vary widely. In some cases, an office of the issuer will also be willing to exchange foreign-denominated traveler's checks for U.S. cash, but not always.
