TRAVELERS CHECK Meaning and
Definition
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A traveler's check, also known as a traveller's cheque, is a form of pre-printed check intended for use by individuals traveling abroad. It is a convenient and secure alternative to carrying large amounts of cash while abroad.
Traveler's checks are typically issued in fixed denominations, such as 20, 50, or 100 units of the local currency. They can be purchased from banks, travel agencies, or other authorized issuers, often for a small fee. These checks can then be used as a medium of exchange and can be converted into local currency at banks, currency exchange offices, or participating businesses.
One of the main advantages of traveler's checks is their enhanced security features. Each check is personalized with the traveler's name and is accompanied by a separate identification document, usually a passport. To encash a traveler's check, the traveler must sign it in the presence of an authorized representative who then verifies the signature against the identification document. This process ensures that only the rightful owner of the checks can use them, thus minimizing the risk of theft or fraud.
Furthermore, in case of loss or theft, the traveler can report the missing checks to the issuer who will then issue replacement checks. This feature provides a safeguard against financial loss and offers reassurance to travelers.
Overall, traveler's checks offer a reliable and secure method of carrying money while traveling abroad, providing peace of mind and convenience to individuals in foreign destinations.
Common Misspellings for TRAVELERS CHECK
- travellers check
- rravelers check
- fravelers check
- gravelers check
- yravelers check
- 6ravelers check
- 5ravelers check
- teavelers check
- tdavelers check
- tfavelers check
- ttavelers check
- t5avelers check
- t4avelers check
- trzvelers check
- trsvelers check
- trwvelers check
- trqvelers check
- tracelers check
- trabelers check
- tragelers check
Etymology of TRAVELERS CHECK
The term "traveler's checks" originated in the early 19th century in the United States. It is a combination of two words that have been in use for a long time.
The word "traveler" derives from the Middle English word "travellere", which comes from the Old French word "travaillour", meaning "a person who travels". This, in turn, comes from the Latin word "trepaliare", meaning "to torture or trouble".
The word "check" has its roots in several languages. It originated from the Old French word "eschec", which means "a check at chess", and comes from the Persian word "sh?h", meaning "king". It then passed through various languages, including Latin and Old Italian, before entering Old English as "sceacce" and eventually evolving into "check".
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