Traveler’s checks are so convenient

I plan to travel for a long time, and I don’t want to bring too much cash at one time and worried that credit card fees are too high and the exchange rate is not cost-effective. I am also worried that I can’t find an ATM that can be used across borders. Traveler’s checks are just right.

Travelers’ checks are another type of cash issued by well-known international card-issuing banks or general banks through international online organizations, specifically provided to travelers. The effectiveness of travelers’ checks is almost the same as cash, and they also come in different denominations and currencies. Types: including US dollars, British pounds, francs, Japanese yen, Canadian dollars, Australian dollars, etc.

Traveler’s Check Tips

When purchasing traveler’s checks, you must bring cash and an ID card to the bank for processing. Usually, you must purchase them in person. Generally speaking, each bank handles traveler’s checks in different currencies. Travelers’ checks have two signature fields. When you buy a traveler’s check, you first sign in the Signature of holder field, and Countersign here in the presence of the person cashing field before you sign on the spot when exchanging cash. If both are signed or signed, the traveler’s check is as effective as cash and it is difficult to apply for a replacement if it is stolen. Keep the purchase contract and traveler’s checks separate so that if the traveler’s check is lost, you can quickly apply for a replacement. After review, it is determined that no one has used it fraudulently, and the bank will compensate for the loss.

There are two ways to use travelers’ checks

• Exchange them for local cash: If you buy traveler’s checks that are not in the local currency of your trip, you can directly exchange them for local cash at a local bank or currency exchange office such as the airport.
• Use as cash: If you buy traveler’s checks in local currency, you can use them without changing them into cash. The unused portion can be returned to cash. However, travelers’ checks cannot be used when shopping or tipping in small stores, markets, etc., so it is convenient to prepare some cash.

Advantages to using travelers’ checks

There are many advantages to using travelers’ checks

1. High security: the most worrying thing when going abroad is that your wallet will be stolen or lost, and your credit card will be stolen or used. However, if you use travelers’ checks, you can apply for loss report compensation if they are lost or stolen.
2. There is no time limit for global circulation: Travelers’ checks have no borders or time restrictions. Tourists only need to exchange them for cash at a local bank or use them directly.
3. There are various denominations of traveler’s checks, ranging from small amounts such as ten yuan to large bills of one thousand yuan. Consumers can exchange the required denomination according to their personal needs.