The traveler’s checks are checks worth an amount of money (there are different amounts), which make the rather than paper money. Their advantage lies in that, being personal and serial, only cheques holder can make use of them.
The traveler’s checks are the safest method of payment, and it is an alternative that is safer than cash. There are traveller‘s cheques in US dollars, which can be redeemed at any banking institution in cash and travellers cheques in euros
- Traveler’s checks are a simple and safe method to protect the money, easy to use and guarantee peace of mind since they are protected from the moment in which they are acquired.
- There are traveler’s cheques in different currencies and denominations, and they are accepted in a wide variety of shops, restaurants and hotels, as well as financial institutions.
- Issuers of travelers checks ecomiendan that to obtain the best rate is effected change in banks, since usually is accomplished best rounding that counters changing airports or stations, hotels, restaurants or shops, although the advantage of these is that their schedules are more spacious.
- Sde traveller cheques are issued by a bank or in charge of the traveller, and are payable by its main establishment to branches or banks that have agreement, in the country or abroad.
- The entity must be delivery to the beneficiary list of branches where travelers checks can charge them without paying Commission.
- The consumer has to bear in mind that if the financial institution which goes does not pay the sde traveller cheques, it is entitled to claim a penalty which reaches 25% of the value expressed in check.
Traveler’s cheques do not expire but have to sign them at the time of acquiring them, write down the serial numbers and keep the list in a separate place, marking the serial numbers of checks used.
- The great advantage of the traveler’s checks is if they are lost or are stolen, only we were without the paper, but not without money. They are replaced within 24 hours in any financial institution, provided that the checks that have been misappropriated you serial number is displayed.
Do you need traveler’s checks? depends on where you go. If you are rural areas or small towns carry cash; travelers checks are useful in large cities.
If you don’t want to split with excess of foreign currency in cash, buy a few checks in small denominations to change until the end of your trip. Before leaving, ask your supplier where to change them without paying Commission. Write down all the numbers on their checks, and keep the list in a separate place, marking the numbers you It has already changed.
Lost or stolen travelers checks are usually replaced within 24 hours. To ensure a fast refund, buy your own checks – do not let someone else pay for them: this kind of irregularities can cause delays, since the person who made the purchase must be called to request the refund.
Issuers of travelers checks
American Express card holders can purchase traveller‘s cheques through the banks, with a charge of 1% of Commission. They also emit traveller’s cheques for two, which can be signed and exchanged for you or his companion. Citicorp paychecks are available through Citibank and other banks around the globe. For 45 days from the date of purchase, the holders have access to a line of international assistance (SOS) and a center of emergency messages.
Visa Travellers Checks Visa traveler’s checks are available in American, Canadian dollars, pounds sterling and other various currencies.