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Traveler’s checks are a safe and convenient way to have cash on hand when traveling internationally. They can be purchased from major banks or credit card companies and are easy to use. It’s important to keep the check receipt in a safe place for replacement in case of loss or theft.
When travelling, even in this day of credit and debit cards, it’s always nice to have some cash on hand. Travelers checks, the US spelling of British traveler’s checks, are the safest and most convenient method of making sure travel money is available for a cash transaction, if needed, when traveling internationally. Normally, traveler’s checks are only needed when traveling to a foreign country.
Almost every major bank or credit card company will have their own brand of traveler’s checks. Just search for “traveler’s checks” or “traveller’s checks” on the Internet. Not all brands of traveler’s checks are as acceptable to merchants as another, so try withdrawing checks from a major bank or credit card company.
Using traveler’s checks is actually quite simple. When paying for a purchase, or for travel expenses, the first thing to do is ask the sales associate if the establishment accepts traveler’s cheques. Many stores and businesses won’t do this, instead preferring cash, a credit card, or debit card. If the establishment accepts them, determine the total amount of your purchase.
Traveler’s checks are normally issued in denominations of $20, $50 and $100 US dollars. Choose the denomination that will cover the purchase amount and write the amount on the appropriate line of the check. This amount will be deducted from the check amount.
At this point, sign the check, making sure the seller is looking. This way the seller will know that the check belongs to the person writing it. Identification can be requested in any case, to protect both the operator and the customer. If the rest is due on the purchase, it will be given in the local currency.
When purchasing traveler’s cheques, for example at a bank, the buyer is required to sign the checks on the top signature line of each individual cheque. This must be done in the presence of the cashier at the bank. Signing the check at the time of purchase then allows you to compare the two signatures, top and bottom, as an added safeguard against unauthorized use.
There is one very important thing to remember when buying traveller’s cheques. Make sure your check receipt is kept in a safe place. The receipt will show each individual check number and is a guarantee of replacement in case of loss or theft of the checks. This is why traveler’s checks are used. Unlike cash, lost or stolen checks will be replaced by the issuer, provided the owner has the receipt listing each check and certifying that they have been paid.
