TRAVELER CHECK Meaning and
Definition
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A traveler check, also commonly known as a traveler's cheque, is a form of prepaid money intended for immediate use by individuals while traveling abroad. It is a secure and convenient alternative to carrying large amounts of cash or relying solely on credit or debit cards. Traveler checks are primarily issued by banks and financial institutions.
The process of obtaining traveler checks involves an individual purchasing them, usually in the local currency of their home country, at a fee. The value of the traveler check is fixed and denominated in the currency of the country where it will be used. These checks are then signed in the presence of the purchaser and are essentially a promise of payment by the issuing bank or institution.
One of the significant advantages of traveler checks is their enhanced security features. They typically include anti-counterfeit elements such as watermarks, holograms, and special inks, making them more difficult to forge. Additionally, traveler checks can be replaced if lost or stolen, provided the purchaser has preserved the relevant documentation.
To utilize a traveler check, the holder simply signs it in the designated space on the check in the presence of a vendor, such as a hotel cashier or a currency exchange office. This act is to ensure that the signature matches the one recorded at the time of purchase.
Traveler checks are widely accepted in many countries, offering a level of financial security and convenience to tourists and travelers. However, their popularity has diminished in recent years due to the increasing availability and acceptance of credit and debit cards around the world.
Common Misspellings for TRAVELER CHECK
- rraveler check
- fraveler check
- graveler check
- yraveler check
- 6raveler check
- 5raveler check
- teaveler check
- tdaveler check
- tfaveler check
- ttaveler check
- t5aveler check
- t4aveler check
- trzveler check
- trsveler check
- trwveler check
- trqveler check
- traceler check
- trabeler check
- trageler check
- trafeler check
Etymology of TRAVELER CHECK
The term "traveler's check" or "traveller's cheque" refers to a type of prepaid financial instrument widely used by travelers as a safe and convenient alternative to cash. The etymology of the word can be traced back to its components:
1. Traveler: The word "traveler" itself comes from the Middle English word "travayler” (also spelled "traveiler") which originated from the Old French word "travaillier". It means a person who embarks on a journey or goes on a trip.
2. Check: The word "check" in this context does not refer to the act of inspecting or verifying something. Instead, it comes from the historical usage of "cheque" in British English, which means a written order to a bank to pay a specified amount of money from one's account to someone else.
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