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[Article] AIB to stop selling travellers' cheques

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  • 13-10-2006 5:47pm
    #1
    Ruu_Old
    Closed Accounts Posts: 36,634 ✭✭✭✭


    Might be of some interest to AIB accout holders, plastic money on the rise. from rte.ie
    AIB says it will no longer sell travellers' cheques from January 1 because of falling demand. The bank will, however, continue to buy travellers' cheques from customers after this date.

    AIB has seen sales of such cheques fall by 95% between 1998 and 2005, while sales this year are down 50% on the same period last year.

    The bank said people were increasingly using electronic means to manage their money while abroad. It said credit card use abroad had risen by 40% between 2002 and 2005, while use of AIB debit cards abroad had doubled in the past year.

    AIB said the introduction of the euro has also been a factor, while the bank's main provider of travellers' cheques was now withdrawing its service.


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    #2
    Noelie
    Closed Accounts Posts: 999 ✭✭✭Noelie


    Slightly OT but did anyone else notice that the government put a charge on each cheque a person would write to get everyone onto electronic means, then once they have everyone using Credit/debit Cards they throw a big government levy onto each one you have?


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    #3
    Ruu_Old
    Closed Accounts Posts: 36,634 ✭✭✭✭Ruu_Old


    The laser and credit card levy has been in for a couple of years now hasn't it? What is it, 40 eurons for the CC and 20 for the laser? Pain in the backside all the same.


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    #4
    Noelie
    Closed Accounts Posts: 999 ✭✭✭Noelie


    Yeah it's been about for a few years, but it was only brought in after the goverment tried to get everyone to use them, a little back handed to urge people to change over to reduce waste and then once everyone has done so, smack them with a charge.

    I think they used the paper waste angle when adding the charge to cheques.

    I don't totally agree with the banks not doing Travellers Cheques, but i have never used them and it won't really effect me in the future, CC are much handier and most places take them.


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    #5
    constitutionus
    Registered Users Posts: 7,988 ✭✭✭constitutionus


    weird. ive flogged more travellers cheques this year than i have in the last 3, the yanks love the things. personally i'd use my credit card but the demand for cheques doesnt seem to have dropped so dramatically in my company as it has in AIB.


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