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Money & Cost in China (5)

(People's Daily Online)

13:33, June 15, 2012

Traveler's Cheque/Check
Are traveler's cheques/checks accepted in China?
Traveler's cheques/checks are accepted in the major banks of China, where you can also buy traveler's cheques/checks.

What is a traveler's cheque/check?
The traveler's chequecheck, which is issued by international commercial banks or authorized tour agencies, offers much more security and convenience while traveling. Similar to cash, the cheque/check also has different kinds of par values, and is issued in various currencies. At present, the cheques/checks issued by American Express, Visa, Thomas Cook and others are recognized worldwide and are available in most large-scale emporiums, star-rated hotels or can be exchanged in more than 800 banks all around the world, without any limitation on the period of validity.

What is needed when buying traveler's cheque/check?
Nothing but your signature! Your signature is also required when cashing a traveler's cheque/check.

There will be a certain amount of handling charge. However, when you cash them, the service center of your cheque/check all over the world will provide you with the exchange service for free, except some non-signatory banks.

Does it have commission fee when buying traveler's cheques/checks?
Yes, but the commission fee is quite low, less than 1% usually.

What to do if the traveler's cheque is lost?
A refund or replacement can be easily refundable in any of the appointed banks of the World.

However, make sure the return receipt is kept safe and separate from your traveler's cheque because it will be required if the cheques are lost or stolen.

Does traveler's cheque/check have expiration date, and if yes, how long?
No, there is no expiration time for the cheques/checks, you can use it anytime you want.

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