Travellers Cheque - Travelling Made Easy

Are you traveling abroad and don’t want the trouble of carrying cash? The travellers cheque is the right answer for you!

A travellers cheque is quite like an ordinary cheque that can be used as a form of payment. It can be used worldwide. The most popular travellers cheque in India is American express travelers cheques. It is available in nine international currencies which are U.S Dollars, Euro, Japanese Yen, Pound Sterling, Saudi Riyal, Canadian Dollar, Australian dollar, Swiss Franc and South African Rand.

Apart from American express travellers cheques, Interpayment Visa and Thomas Cook MasterCard Travellers cheques are also popular.

Why are travellers cheque preferred?

A travellers cheque is preferred over cash because in case it is stolen or lost, it is replaced within twenty four hours. Also the fact that it can be used anywhere for almost anything like purchase of goods, clearing hotel bills or exchange of local currency makes it popular over cash.

One more feature which works in its favour is that the cheque never expires. So the unused cheques can be retained for future use.

How to get a Travellers Cheque?

The procedure to obtain travellers cheque is fairly simple. The user has to present his passport, ticket and visa to associated banks or travel agents like Thomas Cook. When purchasing the cheques for the first time, they have to be signed in a specified place. This is so that in case of being lost or stolen, they can be reimbursed.

The user can purchase the cheques by paying the amount in cash for amounts less than Rs 50,000 (which is about a thousand US dollars). In case of larger amounts, the payment has to be made through cheques or demand drafts.

Why it is safe?

When a person buys the travellers cheque, he is required to sign on each of the individual cheques at a designated place. When he uses these cheques he will be asked to countersign. If the signatures do not match, the cheques will not be accepted. The signature thus becomes a security feature and does not allow the misuse of it.

In case the cheques are stolen or lost, it has to be reported to the local police station within twenty four hours. In case of any queries, the following numbers can be used:

American Express: 1 800 331245 and Visa/Mastercard: 1800 119009.

Limitations of Travellers Cheque

The only limitation with the use of travellers cheque is that regarding the amount. In a year the purchase of cheques is limited to US$10,000 and is subject to RBI regulations.

The use of travellers cheque is highly recommended as it is very convenient and is quite safe. Thus peace of mind is guaranteed and our stay becomes a pleasant one!