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RE: The world's oldest travel company Thomas Cook goes bankrupt, end of traditional TAs?
You too young for this la.
https://en.wikipedia.org/wiki/Traveler's_cheque
You too young for this la.
https://en.wikipedia.org/wiki/Traveler's_cheque
Traveler's cheque
A traveler's cheque is a medium of exchange that can be used in place of hard currency. They can be denominated in one of a number of major world currencies and are preprinted, fixed-amount cheques designed to allow the person signing it to make an unconditional payment to someone else as a result of having paid the issuer for that privilege.
They were generally used by people on vacation in foreign countries instead of cash, as many businesses used to accept traveler's cheques as currency. The incentive for merchants and other parties to accept them lay in the fact that as long as the original signature (which the buyer is supposed to place on the cheque in ink as soon as they receive the cheque) and the signature made at the time the cheque is used are the same, the cheque's issuer will unconditionally guarantee payment of the face amount even if the cheque was fraudulently issued, stolen, or lost.
new there's a bot
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