Question

"Travellers, cheques make travelling safe and convenient." Comment.

Answer 1

1. Replacement Guarantee: If a traveller's cheque is lost or stolen, it can be replaced to ensure that the traveller does not go without funds.
2. Fraud Prevention: Require dual signatures (for purchase and encashment), lowering the danger of unauthorised use.

3. Global Acceptance: Widely accepted at banks, hotels, and businesses worldwide, providing easy access to funds.

4. Fixed Denominations: Available in precise amounts, allowing travellers to properly manage their budget.
5. Favourable Exchange Rates: They often provide better exchange rates than cash conversions, resulting in more value.
6. No Expiry Date: Traveller's cheques do not expire, so they can be used on subsequent journeys.
7. 24/7 Customer Support: Issuers offer 24-hour assistance for lost or stolen cheques, ensuring that help is available at all times.
8. Security Features: Advanced security procedures are in place to prevent counterfeiting and fraud.
9. Emergency Support: Immediate assistance and replacement services improve reliability while travelling.
10. Peace of mind: Travellers may manage their funds in a secure and simple manner, avoiding the need to carry cash.