Traveler's cheque

Special checks issued by banks or travel agencies for the convenience of tourists or business travelers

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A traveler's check is a check issued by a bank or travel agency for the convenience of tourists or Travelers Special cheques issued. the West The tourism industry is developed, and the traveller's check business is profitable, so the western countries national bank And travel agencies. In order to prevent false claim and ensure security, the user of traveler's check must sign on the face of the ticket twice. The specific procedure is: Issuing bank When purchasing traveler's checks, you must sign them in person, which is called "initial signing"; When arriving at the travel destination to cash in the local bank, you must sign and seal the check in person, and the check can be cashed only after the two signatures are verified to be correct.^[1]

Chinese name: Traveler's cheque
Foreign name: traveler's cheque
Nature: Fixed promissory note
Role: Exclusive for passengers to purchase and pay travel expenses

Features: No payment specified place and bank
Definition: It refers to special checks issued by banks or travel agencies for the convenience of tourists or business travelers
Advantages: Easy to use, safe and guaranteed

catalog

six use
seven exchange
eight report the loss
nine advantage
ten Cash

brief introduction

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Traveler's check is a quota Promissory note , which is specially used for passengers to purchase and pay travel expenses Bank draft . Cheques differ in that they do not have a designated place of payment and bank, and are generally not subject to date restrictions. They can be used all over the world. Customers can exchange cash or use them directly at foreign banks, international hotels, restaurants and other consumption places at any time. They are commonly used in international travel Payment voucher one of. Traveler's cheques are universally accepted bills in the world. They are as liquid as cash in many countries and regions. Not only many shopping malls and hotels support the payment of traveler's cheques, but also they can be converted into local currency at the place of travel.

Features

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（1） Fixed denomination

All kinds of traveler's cheques have different fixed denominations, similar in shape foreign cash , such as traveler's cheques of 10, 20, 50, 100, 500, 1000 dollars and other denominations. It can be used sporadically Bank draft Convenient.

（2） Convenient exchange

In order to expand its Circulation field There are many special exchange agencies in major cities and tourist destinations around the world, which greatly facilitates the tourists' cashing. When a ticket holder travels with a traveler's check, he or she can not only cash the ticket at the issuing bank, but also at travel agencies, hotels, airports, stations and other places at any time.

（3） Carrying safety

When a traveler purchases a traveler's check, he or she must sign it on the first signing position of the traveler's check face to face on the counter of the selling bank as a reserved signature. When withdrawing money, he or she must sign it on the second signing position of the traveler's check face to face on the counter of the paying bank. The payment can be made only after the paying bank checks that the first signing is consistent with the second signing. Therefore, traveler's checks are not easy to be falsely claimed if they are lost or stolen foreign cash Security.

（4） Loss reporting compensation

According to the regulations of the issuing agency, if a traveler's cheque is lost or stolen accidentally, he or she can apply for a "loss reporting refund". As long as the relevant regulations of the issuing agency are met, the person who reports the loss can get a refund or a new traveler's cheque.

（5） Long term of circulation

Most traveller's cheques do not stipulate the period of circulation, can be used for a long time, and have“ Payable at sight ”The holder can withdraw the money at the foreign exchange agency of the issuing institution immediately with the ticket.

choice

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Buy suitable traveler's checks. At present, the types of traveler's cheques that are popular around the world are American Express （AMERICAN　EXPRESS）、 VISA And Tongjilong, MASTERCARD Citi The above traveler's cheques printed with BOC can be exchanged in more than 800 traveler's cheque paying banks around the world, or directly used in major shops, hotels and restaurants in various countries. among American Express Travelers Cheque It can be bought in more than 2000 banking outlets in mainland China, Cooperative Bank Including ABC, ICBC, BOC, CCB, Everbright, CITIC , transportation, it is recommended to make a telephone inquiry before purchasing.

Like cash, traveler's checks have different denominations. Take the dollar check as an example. It is divided into 20 yuan, 50 yuan, 100 yuan, 500 yuan and 1000 yuan. In addition to the most commonly used US dollar traveler's checks, customers can also, as required Shanghai city branch Buy euro 、 pound 、 Japanese yen 、 AUD Traveler's cheques in other currencies, avoiding exchange Local currency Unnecessary exchange rate losses. Among them, American Express Travelers Cheque At present, there are US dollars, euros Cad , Australian dollar, Japanese yen and more than 20 denominations.

According to the regulations, domestic residents can use the funds or foreign currencies in their foreign exchange deposit accounts foreign cash You can also buy foreign currency traveler's cheques RMB The funds in the account or RMB cash purchase foreign currency traveler's cheques. Valid for residents of this city by themselves Identification , passport with valid visa to go to the country or region, or Hong Kong and Macao regional pass check Can be used in major banks Foreign exchange spot exchange The funds in the account purchase traveler's cheques with an equivalent value of less than US $50000 (including US $50000). If there is no foreign currency, citizens can go through the formalities of purchasing traveler's cheques in RMB within the amount of foreign exchange exchange for private exit in accordance with the relevant provisions of the Detailed Rules for the Implementation of the Administration of Individual Foreign Exchange Purchase by Domestic Residents and other relevant provisions.

purchase

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Traveler's cheque purchase procedures: the customer shall hold his/her own ID card, passport with valid entry visa for the country or region (or pass for Hong Kong and Macao), and Foreign exchange spot exchange (banknote) and fill out the purchase contract in duplicate to apply to the bank foreign cash (Remittance) purchase equivalence For traveler's cheques below 10000 US dollars (including 10000 US dollars), if purchased in foreign currency cash, proof of legality shall be provided source of foreign exchange Of Supporting materials , and initially sign on the traveler's checks purchased, and properly keep the purchase contract Receipt United.

Exchange on behalf

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Payment of traveler's cheques on behalf of the customer: the customer can go to the bank with his/her ID card and traveler's cheques to handle the payment procedures. If the equivalent is between 5000 dollars and 10000 dollars, the customer also needs to provide the purchase contract or purchase invoice, and fill in the Payment Reason Filling Form. The bank will directly handle the payment. If the amount is more than 10000 US dollars (including 10000 US dollars), the customer needs to go through the collection procedures, and the bank will collect the amount from the traveler's cheque issuing agency, and notify the customer to withdraw the amount after receiving it.

use

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Use of traveler's cheques: when using traveler's cheques for consumption or cash exchange, the customer shall hold his/her own ID card and traveler's cheques and accept them Acceptance point After countersigning in person, small amount (equivalent to less than 5000 US dollars) can be paid or withdrawn.

exchange

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Types of traveler's checks exchanged: Thomas Cook Barclays Bank （Barclays）、 American Express (American Express)、 Citibank (Citi bank)、 Sumitomo Bank Travelers' cheques waiting for the bank to sell.

report the loss

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Loss reporting and compensation of traveller's cheques: the customer directly contacts the issuing agency of traveller's cheques, and handles the compensation procedures of traveller's cheques at the designated bank as required. The customer must hold his/her own ID card, fill in the Application Form for Traveler's Cheque Compensation and the new Traveler's Cheque Purchase Contract New purchase And keep the purchase contract properly Receipt And the Application Form for Compensation of Travelers' Cheques.

advantage

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Complete denominations: such as dollar The maximum face value is $1000 and the minimum face value is $20.

Various currencies: people can choose different currencies according to different regions they visit.

Easy to use: cash can be exchanged at major banks and exchange outlets in the world; You can pay directly in international hotels, restaurants, schools and other consumer places without paying any fees; In the United States, it can be used as cash, or even buy a newspaper.

More secure: If a traveler's cheque is lost or stolen accidentally, you can report the loss, settle a claim and make emergency compensation; In case of an accident, you can also apply for medical and other emergency assistance services provided by the traveler's check issuing agency.

No service life: traveler's cheques are permanently valid. If they are not used up after one purchase, they can be reserved for the next exit.

Reasonable charge, easy to enjoy convenience and security.

Cash

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(1) Types of traveler's checks cashed by banks: VISA 、 MASTER、citicorp、 International Express and other traveler's checks.

(2) Applicable to individual customers and corporate customers.

(3) Cashing procedure You can request to cash traveler's checks at any branch or outlet of our bank.

(4) Cashing procedures:

a、 Provide your passport and Purchase contract

b、 Please countersign the cheque in the designated place in person. If you have already countersigned, please countersign the cheque on the back in person.

(5) In case of any of the following circumstances, our bank will not process the payment.

a、 There are no traveler's cheques initially signed;

b、 Traveler's cheques transferred;

c、 Travelers' cheques with valid period but overdue;

d、 Limited to Sterling area 、 Franc district Or other traveler's checks with limited cashing terms;

(6) Cashing fee: by traveler's check Face amount Deduct 7.5 ‰ discount interest.

Consignment

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The sale of traveller's cheques on a commission basis refers to the business of ABC selling traveller's cheques on behalf of the issuing institution of traveller's cheques. After collecting the payment from the customer, sell the traveler's check to the customer, and pay the payment to the traveler's check issuing agency at the same time.

(1) Types of traveler's cheques sold on commission: ABC sells the two types of traveler's cheques with the largest circulation in the world at present: American Express (AE), International Payment Organization (VISA) USD and euro Traveler's checks. The denominations are 20, 50, 100, 500 and 1000.

(2) Fee: By Face amount 1% of Service Charge If the purchase face value is more than 30000 dollars, the service charge is 5 ‰.

(3) Service objects: individual customers Corporate customers 。

（4） Purchase Procedure 。

a、 Provide passport and valid visa;

b、 Pay the foreign exchange funds and service charges required for purchasing traveler's cheques;

c、 You must fill out a purchase contract, fill in its name, passport number, address, and sign.

d、 To ensure that your Fund security When purchasing, you must sign your name on the first signing position of the traveler's check in person, and do not countersign it before cashing.

(5) Precautions for using traveler's checks

a、 When you use traveler's checks, do not countersign them unless you exchange, consume or transfer them;

b、 Your purchase contract and passport should be kept separately from the traveler's checks, so that you can go through the loss reporting and compensation procedures in case of loss of the traveler's checks;

c、 In case of any mistake, damp, mildew, damage or incompleteness, you can go to the bank to fill in the cancellation certificate and cancel the traveler's check.

Loss reporting compensation

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(1) Once a traveler's check is lost or stolen, you can immediately contact the compensation center through the 24-hour service phone of the traveler's check issuing agency in major cities around the world to notify the number, amount and relevant information of the stolen check.

(2) Follow the guidance of the compensation center to handle the loss reporting procedures at the nearest consignment bank and fill in the travel Check loss reporting Table.

(3) You must provide the original purchase contract and ID card to the selling bank. After the selling bank checks them correctly and obtains authorization from the compensation center, you can obtain a new purchase contract and a new traveler's check.

(4) Compensation cannot be handled under the following circumstances

The original purchase agreement cannot be provided; The application exceeds the limit; The lost cheque has not been initially signed or has been countersigned before it is lost.

(5) In the business of compensation for traveler's cheques, we will not make cash compensation in principle, nor do we make compensation for traveler's cheques in a currency different from that of lost cheques.^[2]

Skillful use of methods

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Many banks in China have service outlets for traveler's checks, such as ICBC Bank of China, Agricultural Bank of China, Bank of Communications, Everbright, Xingye, etc. In the traveler's check business, the most common American Express Express traveler's cheques issued. Recently, Express has also launched the purchase of traveler's cheques in ICBC and Everbright Bank Service Charge Preferential activities. stay Everbright Bank Purchase after foreign exchange purchase American Express Travelers Cheque The service charge can be waived for the Amex traveler's check in any currency up to the equivalent amount of $1000, and 20% discount will be given for the service charge below $1000. And in Industrial and Commercial Bank of China handle Purchasing Foreign Exchange for Personal Purpose After that, there will be no service charge for the purchase of USD traveler's cheques in excess of USD 500, and the service charge for the purchase of USD traveler's cheques in excess of USD 500 will be halved. In fact, for most traveler's cheques, there is no limit on the service life. Any unused traveler's cheques can be reserved for future travel and business trips. This is the same as cash, but it is impossible to get anything by traveler's check Interest income 。

Then, is it feasible to transfer the surplus traveler's checks to others. According to the regulations on the use of traveller's cheques, individuals can also receive and pay traveller's cheques from others, but the transferred traveller's cheques can only be cashed in the bank and deposited in their own bank account, not directly used for shopping, exchange, etc Payment business 。 However, the reporter learned that domestic banks do not support the business of collection of transferred traveler's cheques. Therefore, in order to prevent unnecessary troubles, it is recommended that you carefully transfer your own traveler's checks or accept the traveler's checks transferred by others.

If you don't want to keep traveler's cheques, you can also cash (collect) traveler's cheques in domestic banks. Generally speaking, traveler's cheques can be cashed in the currency you need, but the convertible currency depends on the specific regulations of each bank. When cashing traveler's checks, most banks need to pay Service Charge , which is 0.75% of the cashing amount. To avoid this expense, there are also some tips. Each traveler's check issuing company has some free cashing outlets in China. with American Express For example, a few BOCOM outlets in Shanghai and Beijing Citibank The outlets will provide free cashing service for traveler's cheques. The free cashing business of Bank of Communications is limited to the cashing of traveler's cheques in USD currency in RMB. If you have extra traveler's checks and want to avoid paying service charges, you can go to these outlets to pay them.

Friendly Tips

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Traveler's cheque (4 sheets)

Take traveler's cheques to the destination currency.

Traveller's check Purchase Agreement Keep them separately from traveler's checks.

When purchasing traveler's checks Bank Teller Initial signature shall be made immediately in person.

When going abroad, remember to bring the purchase agreement with you so that you can report loss and settle claims in case of emergency.

If going to different places countries and regions It is recommended to carry traveler's cheques with large denominations and widely used currencies.

Travel cheque loss reporting and compensation hotline.

If your traveler's check is accidentally lost or stolen, please call the traveler's check issuing agency or go to the local bank to report the loss as soon as possible so as to obtain corresponding compensation.

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