A cheque issued by a bank, building society, travel agency, credit-card company, etc., to enable a traveller to obtain cash in a foreign currency when abroad. They may be cashed at banks, exchange bureaus, restaurants, hotels, some shops, etc., abroad on proof of identity. The traveller has to sign the cheque twice, once in the presence of the issuer and again in the presence of the paying bank, agent, etc. Most traveller's cheques are covered against loss.
Subjects: Financial Institutions and Services.