TraveIer's checks and opening an account.
Traveler's checks are extremely useful: they are accepted as hard currency in most hotels, restaurants and shops. As a traveler's cheque can usually be replaced if lost or stolen, they are often used by people on vacation in place of cash.
Traveler's cheques are available in several currencies such as U.S. dollars, Canadian dollars, pounds sterling, Japanese yen, and euro.
Traveler's cheques were first issued on 1 January 1772 by the London Credit Exchange Company for use in ninety European cities. American Express was the first company to develop a large-scale traveller's cheque system in 1891, and is still the largest issuer of traveler's cheques today by volume.
Due to the wider availability of cash machines, cards are now a more practical method of payment than traveler's checks. This plastic money is used as legal currency.
OPENING AN ACCOUNT
It is an open secret that banks are the most important link in the world of money. Almost everyone in the world uses banking services. Investigate and compare various banks and their rates of interests on accounts before you decide where to open an account.
If you want to invest money at short term, you've got several possibilities: first, a current account. This gives you the possibility of having all your money at your immediate disposal, it also entitles you to a chequebook. Second, you've got a deposit account. It is a better investment as it gives a higher interest. Finally, you have certificates of deposit. These pay the highest interest. However, they block your capital for a fixed period of 3, 4 or 5 years. Your choice of short-term investment, therefore, will depend largely on how quickly you'd like to have access to your money.
Traveler's checks are extremely useful: they are accepted as hard currency in most hotels, restaurants and shops. As a traveler's cheque can usually be replaced if lost or stolen, they are often used by people on vacation in place of cash.
Traveler's cheques are available in several currencies such as U.S. dollars, Canadian dollars, pounds sterling, Japanese yen, and euro.
Traveler's cheques were first issued on 1 January 1772 by the London Credit Exchange Company for use in ninety European cities. American Express was the first company to develop a large-scale traveller's cheque system in 1891, and is still the largest issuer of traveler's cheques today by volume.
Due to the wider availability of cash machines, cards are now a more practical method of payment than traveler's checks. This plastic money is used as legal currency.
OPENING AN ACCOUNT
It is an open secret that banks are the most important link in the world of money. Almost everyone in the world uses banking services. Investigate and compare various banks and their rates of interests on accounts before you decide where to open an account.
If you want to invest money at short term, you've got several possibilities: first, a current account. This gives you the possibility of having all your money at your immediate disposal, it also entitles you to a chequebook. Second, you've got a deposit account. It is a better investment as it gives a higher interest. Finally, you have certificates of deposit. These pay the highest interest. However, they block your capital for a fixed period of 3, 4 or 5 years. Your choice of short-term investment, therefore, will depend largely on how quickly you'd like to have access to your money.