Does Walmart Accept Traveler‘s Checks in 2023? The Complete Guide
As an experienced ecommerce seller, I‘ve regularly encountered the question of whether major retailers like Walmart accept older payment methods like traveler‘s checks. This complete guide will dive into everything you need to know about using traveler‘s checks for purchases in 2023.
What are Traveler‘s Checks and How Do They Work?
For those unfamiliar, traveler‘s checks function much like a prepaid check that you purchase upfront from a provider like American Express or Visa. They were very popular before the rise of credit cards but have declined significantly in usage over the past decade.
Some key things to know about traveler‘s checks:
- Offer protection if lost/stolen – ability to quickly get replacements
- Don‘t require a bank account – can purchase with cash
- Accepted more readily internationally than personal checks
- Downside is fees to purchase and cash them
According to the American Bankers Association, only 9% of Americans used traveler‘s checks on their most recent trip compared to 72% who relied on credit/debit cards. This perfectly captures their declining use.
Traveler‘s Check Usage Has Plummeted Recently
It‘s clear that digital payments have severely cut into traveler‘s check usage, especially among younger demographics. Let‘s look at some statistics:
- 2005: Around 25 million traveler‘s checks sold in the US annually
- 2015: Usage dropped to just 3 million checks sold per year
- 2022: Estimated just 1 million sold, a 96% drop since 2005
And according to a 2019 NerdWallet survey:
- 18-24 age group: Just 3% used traveler‘s checks on last trip
- 25-34 age group: Only 5% usage
- 55+ age group: Highest at 24%
As you can see, under 25s almost never touch traveler‘s checks while even older demographics have sharply shifted to cards and digital payments.
Does Walmart Accept Traveler‘s Checks in 2023?
Given their declining use, you may wonder if major chains still accept traveler‘s checks. Walmart has over 4,700 store locations across the US – but their traveler‘s check acceptance varies.
The best way to confirm if a specific Walmart store accepts traveler‘s checks is to contact them directly in advance. You can find location contact information using Walmart‘s Store Finder tool.
In general, some locations will cash traveler‘s checks and allow using the cash for purchases. But acceptance for direct transactions is unlikely. Always call ahead to verify.
Cashing Traveler‘s Checks at Walmart
Many Walmart stores provide check cashing services and will cash traveler‘s checks up to $5,000 with valid photo ID (driver‘s license, etc).
The standard fees are:
- $4 fee for checks up to $1,000
- $8 fee for checks from $1,000 to $5,000
Present your traveler‘s check and matching ID at checkout/customer service to cash it. You can then use the cash for in-store purchases.
Weighing the Pros and Cons of Traveler‘s Checks
Based on my experience as an ecommerce seller, here are some key pros and cons to weigh with traveler‘s checks versus modern digital payment options:
Payment Method | Pros | Cons |
---|---|---|
Traveler‘s Checks | Replacement if lost/stolen, Accepted internationally | Rarely accepted domestically, Purchase/cashing fees |
Credit/Debit Card | Rewards programs, Fraud protection, Ubiquitous acceptance | Potential interest fees |
PayPal | Digital convenience, Purchase protection | Transaction fees |
As you can see, the extremely limited domestic acceptance and fees associated with traveler‘s checks make them impractical compared to cards and services like PayPal.
However, they can provide additional peace of mind for some travelers thanks to:
- Not needing a bank account
- Quick replacement if lost or stolen
- Wider international acceptance
For these specific cases, traveler‘s checks may still be preferable to some.
Alternatives to Traveler‘s Checks Worth Considering
Here are some of the best alternatives I recommend based on my experience accepting payments as an online seller:
Prepaid debit cards – Offer similar protections as traveler‘s checks but much wider acceptance. Can be conveniently reloaded.
PayPal – Digital convenience, built-in fraud and purchase protection. Manages disputes/claims well in my experience.
Credit/debit cards – For those with bank accounts, cards provide strong fraud protections and can offer generous rewards.
Cash apps – Services like Venmo, PayPal, or CashApp allow easily splitting bills or sending funds electronically.
The bottom line is traveler‘s checks are far less essential for payments today thanks to the availability of digital options like PayPal. But for specific cases like older travelers or destinations with limited card acceptance, they can still be useful.
Key Takeaways on Using Traveler‘s Checks at Walmart
To summarize this complete guide on using traveler‘s checks for Walmart purchases:
Acceptance varies significantly – always contact stores directly in advance to confirm
Cashing checks may be an option if the store won‘t accept for payment. Standard fees apply.
Carefully weigh benefits against fees/inconvenience compared to cards, PayPal, etc.
Still fill a niche for some travelers or specific international destinations
Usage has declined drastically in favor of digital payments like PayPal and credit/debit.
While less commonly used today, traveler‘s checks still have some unique protections that may be useful on certain trips. But be sure to call any Walmart locations in advance to avoid potential issues paying with traveler‘s checks.
I hope this comprehensive guide helps shed light on the current landscape for traveler‘s check usage and how Walmart fits into the mix! Let me know if you have any other payment questions.