{"id":27995,"date":"2018-06-05T18:52:11","date_gmt":"2018-06-05T13:22:11","guid":{"rendered":"https:\/\/blog.thomascook.in\/?p=27995"},"modified":"2026-03-19T17:19:54","modified_gmt":"2026-03-19T11:49:54","slug":"why-travellers-cheques-are-dying-out","status":"publish","type":"post","link":"https:\/\/www.thomascook.in\/blog\/forex\/why-travellers-cheques-are-dying-out\/","title":{"rendered":"Why Traveller’s Cheques Are Dying Out"},"content":{"rendered":"
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In the 1990\u2019s, everyone was using travellers cheques<\/strong> to carry their money abroad. In 2020, exactly 20 years later, travellers cheques are being replaced with forex cards<\/strong>. \u00a0How did this happen?<\/p>\n

At one time, traveller\u2019s cheques were safe, easy to use and accepted everywhere, because if you lose them, they were easily replaced, wherever you are. However, travellers cheques are not as safe as they used to be.\u00a0And there are still people who choose to use them because they come with certain advantages:<\/p>\n

    \n
  1. They are available in multiple foreign currencies<\/li>\n
  2. If you lose them, or they get stolen, they can be refunded<\/li>\n<\/ol>\n

    However, you get the same benefits, and more, when you choose a Forex card. Unfortunately, there are many disadvantages of using travellers cheques<\/strong>. Check these out below:<\/p>\n

    Travellers Cheques Are Not as Safe as They Used to Be<\/strong><\/h2>\n

    \"travellers<\/p>\n

    These days, if you step into a shop or a restaurant, you might find it a little more complicated to pay with a cheque. Many business owners are suspicious of travellers cheques<\/strong>. They can be forged, which means your cheques will be scanned for any marks or patterns before they are accepted.<\/p>\n

    For you, the customer, getting the cheque accepted can be a bigger problem. You may need a manager to authorise your cheque before you cash it. Also, even if your cheque is accepted, you\u2019ll still need to show 2 types of identification. This means that you\u2019ll be spending a lot of time on your holiday getting your payments done, rather than enjoying it. And paying for a simple dinner can become a long and frustrating process. Why waste time?<\/p>\n

    \u00a0Do Read: What Are Travel Cards And How Do They Work?<\/a><\/strong><\/p><\/blockquote>\n

    Traveller\u2019s Cheques Kill Any Spontaneous Plans<\/strong><\/h2>\n

    You\u2019re walking down the street and you see something you want to buy. Or you want a small snack. If you\u2019re using a travellers cheque<\/strong> to pay for it, it will take time. There\u2019s no time to be spontaneous when you need to go to the local bank or currency exchange to get cash.<\/p>\n

    What\u2019s worse? If there is a bank holiday or if there is an emergency, you can get stuck. While you do need to plan out your trip, you also need some spontaneous fun!<\/p>\n

    Traveller\u2019s Cheques are Expensive<\/strong><\/h2>\n

    \"travellers<\/p>\n

    Planning a trip abroad is expensive, specially if you\u2019re headed to Europe or the US. So, you need to be able to save as much money as you can. This way, you\u2019ll be able to fully enjoy the experience. Unfortunately, traveller\u2019s cheques are expensive. If you compare traveller\u2019s cheques to Forex cards or debit\/credit cards:<\/p>\n

      \n
    1. They have a higher interest rate<\/li>\n
    2. They have higher exchange rates<\/li>\n
    3. Banks charge an additional fee to issue your traveller\u2019s cheques<\/li>\n<\/ol>\n

      All of this can eat into your trip budget.<\/p>\n

      Traveller\u2019s Cheques aren\u2019t Accepted Everywhere\u00a0<\/strong><\/h2>\n

      Not every shop or restaurant accepts traveller\u2019s cheques as payment. This is especially true for the smaller businesses. For the business owner, it takes extra time and money to process the cheque. If you\u2019re looking to try out some smaller restaurants or shops, you\u2019ll need cash or a card. This just makes your traveller\u2019s cheques unnecessary.<\/p>\n

      Replacing Your Traveller\u2019s Cheques Can Take Days<\/strong><\/h2>\n

      \"travellers<\/p>\n

      Here\u2019s the good news! If you lose your cheques, or if they get stolen, you can replace them! Now, for the bad news \u2013 this could take a long time. Plus, there are some other problems:<\/p>\n

        \n
      1. You\u2019ll need to keep your shopping receipts with you for the record<\/li>\n
      2. You\u2019ll need a list of the cheque serial numbers \u2013 both the used cheques and the stolen ones<\/li>\n
      3. If the cheque issuer\u2019s location is far from you, it takes much longer to replace them<\/li>\n<\/ol>\n

        It can take a couple of days before you receive your replacement cheques. By that time, you would have lost your valuable vacation time. Or, you might have spent all the cash you have in hand. How would you survive in a foreign land without any money?<\/p>\n

        To Conclude, Traveller\u2019s Cheques Can be a Hassle<\/strong><\/h2>\n