Any retail workers have any experience in this? And how does Amex or Thomas Cook ensure that the check was actually signed at the time of purchase?
As a merchant, when we made our deposit to the bank at night we included travelers checks and denoted them as “cash”. They were accepted by the bank as such.
We just endorse them and toss them in with the pile of checks. Probably doesn’t matter either way.
A travelers check should be treated by the merchant as any other check - get ID and make sure the signature matches. It is a very good idea to document the ID taken on the check. Put the travelers check in your normal bank deposit with your other checks. Travelers checks should not be included with cash in your deposit because, well, they aren’t. They’re checks. Your bank may or may not fuss about it but definately will not count them as cash deposits.
They don’t - just as Visa, MC and Am Ex have no way of knowing if their cards are signed on the back at he time of purchase. It’s the merchant’s responsibilty, should a dispute arise, to “prove” they followed the check issuers policy when the check was cashed - hence the practice of documenting ID on the check.