For most tourists and today travelers checks are a convenient and practical means of payment. If you have to spend a lot of time when creating and restoring a plastic card, then such problems do not arise with checks. In addition, to obtain a visa, some embassies traveler's checks are included in the list of required documents.
Traveler's checks (traveler's checks) are payment documents used as means of international settlements. To use them is simple: you get checks in any domestic bank for a specific amount, and abroad you already make an exchange of traveler's checks for local currency. Often, and the exchange is not needed - checks are accepted as a currency. Convenience is that there is no need to search for safes for cash, fear of theft or loss of money.
Types of travelers checks are different companies-issuers and regions, where they can use. So, in the USA the checks of Ameriens Exports are common, in Europe they prefer to deal with Thomax Sook and Vis, and in Asia - Checks Sity Sogr.
Rules of registration of traveler's checks
Today, check-banks offer 50-, 100-, 500-, 1000-dollar denominations in denominations and 50,100,200, 500 in euros, most importantly, to calculate how much you plan to take money, say, to Greece or Turkey . It is also possible to cash out traveler's checks issued in yen, pounds sterling. After buying checks in the bank, the tourist needs to take a permit for their export abroad. In this case, the bank takes a commission (usually about 1% of the nominal value).
About where to change traveler's checks for cash, you should not worry. In banks, agencies of companies that issue them, you will be exchanged without problems. More than 150 countries of the world carry out operations with traveler's checks, and in America they are accepted on a par with cash. The exchange procedure is simple: identification of the signature and passport verification are carried out. Please note, some exchange points also charge a commission (a percentage or a fixed amount).
Advantages and disadvantages of traveler's checks
Use traveler's checks as an alternative to cash - it's safe and convenient. However, some nuances should be taken into account. So, in states where travel checks are not very popular, you may face the problem of their exchange. In addition, it is necessary to take into account and losses when cashing out in the form of a bank or agency commission.
But the advantages of traveler's checks are many. Firstly, in the form of checks, you can take out to another country an amount that is twice the amount of cash. Secondly, the commission for cashing money with a plastic card can reach up to 5%, and checks can be exchanged and free of charge, if you know in advance the conditions in different banks. Third, there is no need to open an account, wait for release, and all this is time. However, the main advantage of this means of payment is that it is subject to recovery. Stolen or lost cash is almost impossible to return, and if you lose a plastic card, you will only be reinstated
The traveler's check itself is not limited in duration. If you did not use all the means abroad, you can safely return to the bank on your return and change the checks for cash. Planning another trip? Then leave them at home, so as not to waste time on the trip to the bank.