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Question
State two advantages of travellers cheques.
Answer in Brief
Solution
The Advantages of travellers cheques are listed below:
- The set value of a traveller's cheque aids in budget management.
- It is widely acknowledged in many areas and by many merchants.
- No need to visit a bank or exchange centre to convert or withdraw money.
- Traveller's cheques can be replaced more quickly than credit cards.
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Advantages of Opening a Bank Account
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