Last time I used them was about 11 years ago when my Daughter and I went to N.Y. and thought Travellers Cheques would be a safe way to take money. However, once there we went to so many Banks and no one would change them for us, they all insisted that we needed an account with them. We returned to the Hotel and they changed some for us, but they charged us quite a lot to do it and would only change about $50.00.
Anyway, we did find a Bank who would change them after our Receptionist made a few phone calls. So we changed the whole lot and put the money in our room safe and we swore, never again for Travellers Cheques.