How is the traveler`s cheque useful?
As a traveler's cheque can usually be replaced if lost or stolen (if the owner still has the nota, issued together with the purchase of the cheque), they are often used by people on vacation in place of cash. The use of credit cards has, however, rendered them less important than they previously were; there are few places that do not accept credit cards (especially international ones such as Mastercard and American Express) but do accept traveler's cheques in fact, many places now do not accept the latter. As a result, Travelex now also sells "traveller's cheque cards" which are used like credit cards. In contrast, American Express discontinued their own traveler's cheque cards, anno ...more