TRAVELERS CHEQUE Meaning and
Definition
-
A traveler's cheque, also known as a traveler's check or traveller's cheque, is a type of pre-printed, fixed-amount check issued by a financial institution or a company specifically for use by individuals who are traveling abroad. It serves as an alternative to carrying around large sums of cash while traveling, providing a secure and convenient form of payment.
Traveler's cheques typically come in fixed denominations, such as $20, $50, $100, or $500, and are available for purchase in the traveler's home currency. These cheques can be used as a replacement for cash, as they can be exchanged for local currency at participating banks, hotels, or exchange offices. They often feature specific security measures, such as unique serial numbers and the requirement of the traveler's signature at the time of use, to prevent fraud and misuse.
One key advantage of traveler's cheques is their high level of security. In case of loss or theft, the cheques can be easily replaced by the issuing institution, as long as proper documentation and notification procedures are followed. This provides peace of mind to travelers, knowing that their money is protected.
However, with the advent of electronic banking and widespread acceptance of credit and debit cards, traveler's cheques have become less popular over the years. Nonetheless, they still remain a reliable payment option, especially in regions where electronic payment systems may be limited or where cash is preferred.
Common Misspellings for TRAVELERS CHEQUE
- rravelers cheque
- fravelers cheque
- gravelers cheque
- yravelers cheque
- 6ravelers cheque
- 5ravelers cheque
- teavelers cheque
- tdavelers cheque
- tfavelers cheque
- ttavelers cheque
- t5avelers cheque
- t4avelers cheque
- trzvelers cheque
- trsvelers cheque
- trwvelers cheque
- trqvelers cheque
- tracelers cheque
- trabelers cheque
- tragelers cheque
- trafelers cheque
Etymology of TRAVELERS CHEQUE
The term "traveler's cheque" (or "traveler's check" in American English) is derived from the combination of two words: "traveler" and "cheque/check".
The word "traveler" dates back to Middle English and is derived from the Old French word "travaillier", meaning "to work". It originally referred to a person engaged in labor or one who went on a journey. Over time, the spelling evolved into "traveler" and came to represent someone who travels.
The word "cheque" or "check" traces its roots back to the Arabic word "sakk", meaning "a written note". From Arabic, it entered medieval Latin as "sacca", and eventually into Old French as "eschequier" or "chequier".
Infographic
Add the infographic to your website:
