Traveler's checks - full replacement of cash when traveling abroad.
They can settle anywhere in the world for goods and services or to exchange for local currency. Once these checks have been very popular, but been replaced by a bank card.
Meanwhile, traveler's checks has a significant advantage: they can not take advantage of anybody, except the owner, even in the event of theft.
Where can I buy traveler's checks
Buy traveler's checks can be commercialBanks and travel agencies. In the recent past, the largest issuer of travelers checks in Russia was Sberbank, but March 1, 2013 it stopped issuing them. However, you can use the services of other major lending institutions such as Raiffeisen Bank, Russian Standard, VTB 24, Bank of Moscow and others. Purchase of traveler's checks, unlike plastic cards, is not associated with a bank account. That is why the design of traveler's check only takes a few minutes. The term of their action is not limited.
Purchase travelers checks
It is best to buy traveler's checks of differentdenominations to make it easier to cash is the amount that you need. They are issued with par value of the main types of world currencies. There are checks on 20 or $ 50, 100 or 500 euros. They look like ordinary banknotes, and have the same denominations and sizes, with each check has its own individual number. In the majority of Russian banks can buy checks only in euros and dollars.
Some banks charge a commission when you buy traveler's checks. Sometimes it is 0.5%, and sometimes a fixed amount. Terms of the acquisition better clarified in advance.
Purchase of traveler's checks is only possible ifpresentation of an identity document. On the basis of the passport data bank of purchase agreement. It should be stored separately from the checks, so as not to disappear and the contract in the event of loss. In case of loss of checks without a contract they can not be recovered. The buyer must put his signature on each check. It is impossible to advance the second signature. This should be done only when cashing the check!
Traveler's checks - a monetary instrument, so if the total amount of cash taken out and you check exceeds the permitted limit (in Russia it is the equivalent of 10 000 US dollars), they need to make in return.
Cashing travelers checks
For cash by check, you mustgo to the bank, show the cashier check, passport, as well as to put control signature on the payment document. After the bank is satisfied that a genuine check and signature on it is the same, you will be given the money. It is recommended to know in advance where the exchange points are traveler's checks. Currently, the world uses more than a dozen types of traveler's checks. The most popular - American Express (especially in the US and Canada) and Thomas Cook (better to go with them to Europe). It is also widely used Visa checks. In Asia, the popular system of City Corp.