„Traveler's Checks“

What does Traveler's Checks stand for?

A check designed for business travelers and tourists, issued by a financial institution of sufficient importance that it will be readily accepted or cashed by businesses and banks. For safety it is often designed to be countersigned twice by the traveler in order to be valid, once at issuance and once upon being cashed.

Source:

“Fundamentals of Financial Management” by James C. Van Horne and John M. Wachowicz Jr., Prentice Hall, 2004.

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