TRAVELER CHEQUE Meaning and
Definition
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A traveler's cheque refers to a prepaid instrument that enables a person to make financial transactions while traveling abroad. It is a form of payment that functions as a secure alternative to carrying cash. These cheques are typically issued by financial institutions, such as banks, and can be obtained in various currencies, allowing travelers to easily access funds in the local currency of their destination.
The process of utilizing a traveler's cheque involves the purchase of the cheques before embarking on a trip. The buyer must sign each cheque upon purchase, and they may be asked to provide identification for security purposes. While traveling, individuals can use these cheques as a payment method by simply signing them over to the vendor or service provider, who can then deposit or cash them.
Traveler's cheques offer several advantages, such as increased security and convenience. They are often equipped with additional security features, including a unique serial number and the option to replace lost or stolen cheques. This provides reassurance to travelers who may be concerned about carrying excessive amounts of cash. Moreover, these cheques are widely accepted worldwide, granting users access to funds in numerous locations, even in areas where credit card or ATM services may be limited.
Overall, traveler's cheques serve as a practical and secure payment method for individuals embarking on international journeys, offering peace of mind and ease of financial transactions while exploring diverse destinations around the world.
Common Misspellings for TRAVELER CHEQUE
- rraveler cheque
- fraveler cheque
- graveler cheque
- yraveler cheque
- 6raveler cheque
- 5raveler cheque
- teaveler cheque
- tdaveler cheque
- tfaveler cheque
- ttaveler cheque
- t5aveler cheque
- t4aveler cheque
- trzveler cheque
- trsveler cheque
- trwveler cheque
- trqveler cheque
- traceler cheque
- trabeler cheque
- trageler cheque
Etymology of TRAVELER CHEQUE
The term "traveler's check" originates from the combination of the words "traveler" and "check".
The word "traveler" comes from the Old French word "travailleor", which referred to someone who worked, made a journey, or labored on a project. This word evolved from the Latin word "tripalium", which was an instrument of torture made of three stakes. Over time, the meaning of "traveler" shifted to someone who embarked on a journey.
The word "check" in this context is derived from the Old French word "cheque", meaning a written order directing a bank to pay a specified sum to the person named on it. This term originated from the Arabic word "sakk", which meant a document representing a financial transaction.
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