FAQ: Travelers Checks
Is there a better way to travel without bringing so much cash?
Yes, travelers checks are a great option for traveling abroad without taking a lot of cash, making the trip easier and safer for you. Travelers checks are accepted like cash in thousands of places worldwide. The best part is, if your checks are lost or stolen, you can be refunded, giving you added peace of mind when you are far from home.
What are travelers checks?
Travelers checks are checks with a fixed monetary amount that can be exchanged for currency of the location you are visiting. Many merchants across the world accept them like cash. They are a great choice when traveling, because unlike credit cards, travelers checks are not tied to your bank account, and the amount of your checks can be refunded should they be lost or stolen.
What are the benefits of travelers checks?
The biggest benefit is that should your travelers checks get lost or stolen, you will be refunded for the full amount.
Travelers checks are not tied to your bank account, so no personal information will be lost.
Another benefit to travelers checks are the potential savings. You can save money by not paying any withdrawal fees at foreign ATM machines. You can also buy your travelers checks when the foreign currency exchange rate is in your favor, giving you more for your dollar. It may even help you stay on budget during your vacation, because just like cash, once you use your travelers checks, they’re gone.
What other ways can I use travelers checks?
It’s not a bad idea to keep some cash around the house. And for those who like to stash their money in mattresses, traveler checks can be a much safer option. With cash, if it’s gone, it’s gone. With traveler’s checks, if it’s lost or stolen, it can be refunded. TSB offers customers travelers checks with NO fees.
Now that’s peace of mind.