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What are Traveler's cheque? |
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Traveler cheques (TC) is form of currency cheques for
travelers which is convenient to carry and incase of
misplace or lost one can easily have their cash again. In
previous years businessmen were mostly carrying their cash
in form of currency notes, usually they were worried about
their cash, it shouldn’t be stolen or lost by them. For
those reasons and for the comfort of the business community
internationally countries decided to issue them travelers’
cheques, and now a day’s business community could use it
easily without any fear of lost ness and steal. |
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Why they are called Travelers Cheques? |
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Because they invented for the comfort and convenience of the
Travelers who usually travel internationally that’s why they
called by the name of Travelers Cheques (TC). |
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What are the benefits
of buying Traveler's cheque? |
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Buying of Traveler's cheque give benefits in all situations.
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They are safer than cash when traveling
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Broad acceptance.
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In case of lost or stolen Cheques are usually replaced
with in 24 hours.
- No heavy load to carry lots of currency notes in
traveling.
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How can a person buy
or accept Traveler's cheque? |
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Accept the Travelers Cheques like a
having cash. One shall give change in cash, too, just as if
the cheques were cash. As we know that buying of Traveler's cheque is so much convenient for any one beside carrying
cash. All banks are allowed to issue Traveler's cheque, one
can buy from any bank with paying a nominal handling
charges.
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How we can take cash
against it? |
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When one goes to cash the Cheques, banks use the “Watch and
Compare” procedure. Simply they watch customer countersign
on the Cheques, then they compare with the original
signature, which they have taken at the time of buying those
Cheques, as long as the signatures are a reasonable match,
the payment guaranteed.
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If a person doesn’t
use them in b/w traveling then what is the worth? |
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If a person doesn’t need to use Traveler's cheque in
between traveling then they deposit those cheques into their
bank account because most of the banks accept Traveler's cheque.
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How does one accept
travelers Cheques in a foreign currency? |
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Cheques that are issued in a foreign currency should be
treated as foreign currency notes. If you choose to accept
Travelers Cheques in a foreign currency, you’ll need to
determine the exchange rate and convert the transaction.
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What is the procedure for purchasing a TC? |
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The procedure for purchasing a TC is easy and simple. Visit at any KKI branch, simply fill in the information required on the receipt and within few minutes get Traveller's Cheque.
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What are the documentary requirements for buying a TC
from KKI? |
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KKI strictly follow the Due Diligence and KYC policy. A
customer has to give the following details before buying a
TC; |
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ID photocopy.
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Passport Photocopy.
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Valid Visa or the letter issued by embassies asking for a
TC.
- To fill in the purchaser record with the correct
details.
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In how many denominations a TC is available? |
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The TC’s are available in following USD denominations;
1. $1000.
2. $500.
3. $100.
4. $50.
5. $20.
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Does KKI offer TC’s in other currencies? |
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Presently we are not offering TC’s in other currencies
except in US Dollar.
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What is the amount limit for buying a TC? |
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The amount limit for a TC is upto US$ 10,000.
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What is the validity of a TC? |
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A TC has unlimited validity. It never expires.
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In case of theft or a lost TC what should I do? |
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In case of a lost TC the person is required to contact the outlets immediately so that the payment of the instrument can be stopped to avoid any misuse by the bearer. |
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Is a TC refundable? |
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Yes, it is refundable However for claiming funds the
purchaser has to provide his/her copy of the receipt.
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How many outlets of
KKI are providing Travellers Cheque? |
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For the list and the details of the outlets please
click
here.
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