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Travelers Cheques are monetary instruments that can be converted to cash at any bank around the globe. It is usually used by tourists and travelers when they visit a country whose currency is not widely available in their own and also for safety purposes.
For Ex: If I were to visit the United States on a two week holiday, I would need US Dollars to spend during my trip in the states. So I will go to my bank in India (where I have an account) and request for TC's to be issued. My bank would take money from me in Rupees (Indian Currency) and issue me Travelers Cheques of equivalent value. Once I land in the United States, I can visit any bank that I can find near my hotel and exchange them to US Dollars by producing the TC and my passport. Now I will have US dollars for my spending during my stay at the states.
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∙ 13y ago
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How do you check a cheque?
To check a cheque, you must check if the cheque is checked by checking the checked cheque of checking a checked cheque as a checker.
Difference between order cheque bearer cheque?
A person holding the cheque can collect the amount if it is a bearer cheque. The payee (i.e. the person in whose favour the cheque is issued) only or his authorized person only can collect the amount of the cheque if it is an order cheque
Is the correct grammar a cheque of or a cheque for?
cheque of is a right grammar!
Is a cheque also called a cheque leaf?
Yes. A Single cheque is also called a cheque leaf
When does a cheque bounce?
When either of the below happens: * Not enough funds in the account to pay the cheque * Signature of the cheque issuer does not match with the signature in the cheque * Cheque is expired (Date of cheque is before 6 months from date of deposit) * There are any over-writings in the cheque without being counter signed by the cheque issuer.
What is cheque leaf?
Cheque Leaf means s singhal cheque of your chequebook.
What is honoured cheque?
honoured cheque
What is a CAS cheque?
cas cheque
What is a copy of a cheque called?
duplicate cheque
Can a cheque be cashed before date on cheque?
No. A cheque can be cashed only on or after the date mentioned on it
What is a countermanded cheque?
conutermanded cheque is the cheque which has been stoped payment....for some reasons
Differences between cross and open cheque?
A cross cheque means, the cheque can be deposited in account only, while an open cheque means, the the bearer can withdraw cash. Cross cheque means cheque amount only paid to bank account open cheque cash withdrawal by parties
