How should foreign currency traveler's checks be handled?

Foreign exchange supervision

Foreign Currency Traveler's cheques refer to bills with fixed denominations sold on behalf of domestic commercial banks, printed by foreign banks or specialized financial institutions, with the issuing institution as the final payer and the freely convertible currency as the valuation and settlement currency. Domestic residents should sign the check in person when they buy it. When they cash it, they just need to sign it again. countryforeign exchangeThe "notice on issues related to the administration of Foreign Currency Traveler's cheques consignment" issued by the State Administration of foreign currency came into effect on August 2. How do domestic residents buy foreign currency traveler's checks? What role can traveler's checks play in transnational business travel? The characteristics of traveler's checks: Traveler's checks have the same good liquidity as cash and are always valid. If you can't use it up, you can keep it for the next time, or pay a certain fee to exchange it for cash. You don't have to worry about losing the traveler's check. You can get a new traveler's check by going to the designated agency to report the loss with your passport and purchase contract; Compared with credit cards, traveler's checks only need to pay 0.75% of the service charge when cashing (take China as an example). In the United States, it is sometimes free, while credit cards now have to pay 3% - 4% of the service charge. Traveler's checks are a great choice for those who occasionally go abroad. Especially for the elderly and students studying abroad, choosing traveler's checks can save a lot of trouble. In the case of large amount of cash payment, the advantage of traveler's check is more obvious. The varieties of traveler's checks at present, the popular varieties of traveler's checks in the world are American Express, visa and tomascock, and the above traveler's checks printed with the words of Bank of China can be exchanged by more than 800 traveler's checks cashing banks around the world, or directly used in large shops and hotels in various countries. Traveler's checks have different faces. Take the US dollar check as an example, which is divided into 20 yuan, 50 yuan, 100 yuan, 500 yuan and 1000 yuan. In addition to the most commonly used US dollar traveller's checks, customers can also buy traveller's checks in Euro, pound sterling, Japanese yen, Australian dollar and other currencies in Shanghai Branch of BOC, so as to avoid unnecessary exchange rate loss caused by local currency exchange. According to the notice of safe, domestic residents can purchase foreign currency traveller's cheques with funds in foreign exchange deposit accounts or foreign currency cash, and they can also purchase foreign currency traveller's cheques with funds in RMB accounts or RMB cash. Residents can purchase equivalent traveler's cheques from Bank of China and other major banks by their own valid identity certificate, passport with valid entry visa to the country or region, or pass to Hong Kong and Macao. If they purchase in foreign currency, they also need to provide bank withdrawal certificate and other supporting materials to prove their legal source of foreign exchange.

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