Traveler's check or cheque. A check for a specified amount issued by a banker and payable by
any correspondent of the banker. The traveler purchases a number of these checks for, say, $50
each and indorses each as he presents it for payment. These checks are largely used in place of
letters of credit.
any correspondent of the banker. The traveler purchases a number of these checks for, say, $50
each and indorses each as he presents it for payment. These checks are largely used in place of
letters of credit.
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