BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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money order
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travelerś check
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cashierś check
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Detailed explanation-1: -Traveler’s checks are a form of payment issued by financial institutions such as American Express. These paper cheques are generally used by people when traveling to foreign countries. They are purchased for set amounts and can be used to buy goods or services or be exchanged for cash.
Detailed explanation-2: -Traveler’s cheque is a fixed denomination note issued by non-banking financial institutions (generally called traveler’s cheque issuer) for facilitating international travelers to carry and pay traveling costs safely in their travel.
Detailed explanation-3: -Types of checks include certified checks, cashier’s checks, and payroll checks, also called paychecks.
Detailed explanation-4: -The Foreign Currency Travellers Cheques are accepted worldwide in over 400, 000 locations spread across 200 countries. They can either be encashed or used at Exchange bureaus, Banks, Hotels Shops, Restaurants and other establishments, thereby making your travel smooth and hassle free.