This is a check issued by a financial institution, such as American Express®, which functions as cash and is simultaneously protected against theft or loss. Traveler's checks are used all over the globe by world travelers, especially in the case of overseas travel to places where your credit and debit cards are not acceptable forms of payment.
A check commonly used in place of cash; designed for use when traveling.
A piece of paper, equivalent to a particular amount of money, signed by the holder. Works just like cash but unlike cash, it is refundable, if lost or stolen, by the agency from which it was purchased.
A type of check designed especially for business or vacation travelers. The traveler pays for the checks in advance. Thus the check is an order from the issuing company to pay on demand. Traveler's checks are issued in various fixed denominations, may be cashed almost anywhere in the world, and are insured against loss, theft, or destruction.... read full article