Business Services-2 — OCM STD 11 Commerce — Question
Gujarat BoardEnglish MediumSTD 11 CommerceOCMBusiness Services-22 Marks
Question
How the travellers cheques is useful ?
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Answer
Cash is risky during travelling. It may be theft or lost. The banks provide facility of travellers cheques.
First of all one has to deposit the amount in the bank as per his requirement of travellers cheques. The party puts their signature in the presence of the bank manager while getting travellers cheques.
During travel the party encashes these cheques and signs in the presence of the manager. The manager verifies both the signatures and pays the amount. Travellers do not have to keep cash with them in travel.
These cheques have been useful. In the days of $ATM$ its usefulness has decreased.
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