What is a travel check?

The passenger's check is issued by a bank or other organization and is protected from loss or theft. It is issued by many banks around the world in several leading currencies in the world and mostly businesses and individuals are usually considered statutory credit or cash, even when credit or debit cards are not accepted. Many people use them on holiday, especially when traveling to another country. However, their use becomes less common with the development of global digital financial networks.

The first institution that issued travel checks was the bank in London in England in 1772. However, extensive use did not start until the American Express Company started to produce them in 1891. Pre -paid debit and money that will work in many countries around the world makes travel checks less common.

Recipient who receives a traveler's check as a payment for goods or sersystem is protected from fraud according to which they areChecks purchased and issued. When a person buys travel checks that can be issued in different front -curing denominations, he signs the checks as soon as he is received. The test confirmation with serial numbers on the inspections will also be issued to the buyer.

For the use of the traveler's check, the buyer must sign the check again in the presence of the recipient or the person who receives the check on behalf of the recipient. This allows the recipient to make sure that the person who pays for the passenger check is the same person who originally bought it. The fact that the check is supported by funds already transferred to the issuer protects the recipient from fraud. The Buyer is protected from theft or losing the checks of his traveler if they maintain a certificate and in which case he can expect the refund of the non -denunciation of the original issuing bank or other financial institutions.

It is usual to ask the buyer identifying when receiving Traveler's checks as anotherThe discouraging means for fraud and theft. After receiving a travel check, the recipient should change the change if necessary as if he had received cash from the buyer. The recipient can then store the traveler's check with his own bank like any other check.