traveller's check
Definition
Noun: A traveller's check is a pre-printed, fixed-amount check designed as a secure form of payment for people traveling. It functions like cash but is protected against loss or theft because it requires the purchaser's signature at the time of both issuance and cashing.
Usage
Traveller's checks are used as a safe alternative to carrying large amounts of cash while traveling. To use one, you sign it in the presence of the issuing agent when you buy it. Later, to spend it or exchange it for local currency, you must sign it again in the presence of the cashier, who compares the two signatures.
Examples
- Before her trip, she bought $500 in traveller's checks from her bank.
- The hotel accepted his traveller's check as payment for the room.
- He reported his lost traveller's checks to the issuer, who replaced them promptly.
Advanced Usage
- "To cash a traveller's check": To exchange a traveller's check for local currency or to use it to make a payment directly.
- You can cash your traveller's checks at most major hotels and banks in the city.
- The term is often used in the context of financial security and travel planning.
Variants and Related Words
- Traveler's check (noun): The most common alternative spelling, particularly in American English.
- Cheque (noun): The British English spelling of "check." Therefore, traveller's cheque is the standard spelling in British English.
- Bank draft (noun): A similar financial instrument, but typically used for direct transfers between banks rather than as a portable, traveler-specific cash substitute.
Synonyms
- Traveler's cheque: A direct synonym with alternative spelling.
- Banker's draft (in some contexts, though not identical): A check drawn by one bank on another.
Related Idioms or Phrases
- As safe as traveller's checks: An informal phrase (though not a fixed idiom) used to emphasize the security of something, drawing a comparison to the protected nature of these checks.
- Keeping your money in this account is as safe as traveller's checks.
Noun
- a letter of credit issued by a bank or express company that is payable on presentation to any correspondent of the issuer
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