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Travelers Cheques in China

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Traveler's cheques originated in Britain in the late 18th century. A Scottish banker named Robert Herris suggested issuing a new cheque, which customers could cash with no difficulty when touring around Europe. In the late 19th century, American Express started releasing traveler's cheques on a large scale, followed by major banks around the world. Currently, the main issuers of traveler's cheques are American Express, Thomas Cook & Sons, Barclays Bank, Tokai Bank, Sumitomo Bank, Nanyang Commercial Bank, VISA, and Citibank, N.A.. Traveler's cheques are available in several currencies, such as American Dollars, Pounds sterling, Japanese Yen, Canadian Dollars, Australian Dollars, Euros, and Chinese Yuan.

Traveler's cheques are issued in fixed but various denominations, such as 20, 50, and 100. In America and many European countries, they are as convenient as cash. Traveler's cheques can be used for purchases and for paying bills in hotels and restaurants. For areas where traveler's cheques are not accepted, they can be exchanged for cash in banks or at official exchange sites. 

 A signature is required (usually on the upper part of the cheque) when purchasing traveler's cheques. The second signature should be written (usually on the bottom part) in the presence of the payee. The name you sign should be the same name as that on your passport.

 It is best to take the purchase contract of the traveler's cheques with you abroad in case of any accident. The bank or the traveler's cheque company will also remind you to take the receipt with you. Keep the contract in a safe place other than the place where you keep your cheques.

 If your traveler's cheques are lost, please dial the service number provided by the issuers. Once your information is confirmed, you can get new cheques from the nearest service centers.

 Traveler's Cheques in China 
In China, traveler's cheques are not widely accepted. They can only be used in some international department stores, shops selling luxury goods, and five-star hotels. Credit cards are more acceptable. However, foreign visitors can have traveler's cheques exchanged in the entitled Chinese banks, such Bank of China, Industrial and Commercial Bank of China, Bank of Communications, Citibank, and Agricultural Bank of China.

When planning your China tour, traveler's cheques can also be used for Chinese visa application. According to the Chinese visa requirements, applicants must submit proof of financial status or bank certificates to prove they have enough money to cover their expenses in China. Traveler's cheques work as the proof. 

In addition, when passing through Chinese Customs after you land in China, traveler's cheques are more convenient than cash. According to Chinese entry regulations, visitors must declare their cash in Chinese currency exceeding CNY 20,000, or that of foreign currency worth over USD 5,000. No such regulations apply to traveler's cheques, however.

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