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Cashing travellers cheques in spain: Travelers Cheques, ATM, etc for Spain

Опубликовано: January 25, 2023 в 1:50 pm


Категории: Miscellaneous

Traveler’s checks. We accept them in exchange for euros

Do you have travelers checks? You have currency

Within the services offered by iCambio to its clients, we have at your disposal the purchase of any currency (euros included) paying with travelers checks or travelers checks in English.

What are travelers checks

Traveller’s checks (also known as traveler’s checks) are registered and serial-numbered documents that have a face value determined in advance in any foreign currency (dollars, pounds, etc.).

They are issued by financial institutions in exchange for an advance payment for their full amount. The best-known travelers’ check issuers are American Express, Visa and MasterCard. And they are usually issued by the main international currencies: the dollar, the euro and the pound sterling.

Their holder can use them in many shops and exchange houses for the face value of the currency in which these checks are issued or also that of another currency for which they are exchanged. Only if they bear the signature of their rightful owner are they valuable, so if they are stolen or lost, they should not be paid for again.

Traditionally they have been used in Anglo-Saxon countries such as the United Kingdom or the United States as a means of payment abroad because they are safer than the ticket in the wallet. Security is achieved thanks to the fact that the check must be signed by the holder of the document in order for it to have value.

This duty to be signed makes them more secure than cash, which is not nominative but a bearer document (whoever has it can make its value effective by buying without giving explanations).

Therefore, a user with a 100 pound traveler’s check will be able to buy their equivalent value in euros at an exchange office or a commercial establishment that accepts this method of payment. In this sense, the travelers check behaves exactly as if they were cash in the same currency in which they were issued.

How do they work

This traveler’s check service is easy to understand. The user who has a traveler’s check in pounds sterling (GBP), can, upon arrival at any iCambio office, ask for euros and pay by check if the amount is exact or by completing the difference with currency pounds in tickets or with their credit card.

At iCambio we deliver the equivalent value of traveler’s checks that present them, in euros or other foreign banknotes.

They’re safe, right?

Traveler’s checks are similar for security purposes to bank checks. The financial institution that issues the check unconditionally guarantees the payment to the bearer of the check (the exchange house or the merchant that accepts them) for its nominal amount. And this even if the check was fraudulently issued, stolen or lost.

At the time of payment, the owner must sign them so that they have value, with the same signature that the issuing bank collected when delivering their travel checkbook.

Today they are a document in disuse for the benefit of other forms of payment such as the card or the same paper currency.

Does anyone still use Traveller’s Cheques in Barcelona? – World Experience

Have you ever taken a trip and used Traveller’s Cheques? Surely you had heard this term used more than once, but do you really know what Traveller’s Cheques are all about?

Travellers Cheques are cheques given out by banks through the use of which, travellers can change a set amount of money for the currency of the country they are travelling to, in destination.

With the passage of time, methods of payment overseas evolved and adapted to be more like the methods of payment we use at home. This is the main reason why this method of payment has fallen into mainstream disuse.

Usefulness of Traveller’s Cheques today

The main benefit of this method of payment is security. Travellers Cheques can be reimbursed if they are stolen, a critical advantage.

Today we have lots of options for spending money when we are travelling. Because of this, the number of businesses that will exchange traveller’s cheques has decreased.

For that reason, it is crucial to know exactly where you can spend your Traveller’s Cheques before travelling. In this case, prevention is better than the cure.

Given the wide range of cash machines that you can find across Europe, the usefulness of Traveller’s Cheques is close to zero. Where they are more useful, on the other hand, is in African and Asian countries, where there aren’t as many possibilities to make payment or change money.

Discover the alternatives to Traveller’s Cheques

As we were saying, there are alternatives to Traveller’s Cheques which can offer exactly the same functionalities. At Webarcelona we will explain everything.

When you decide to travel to Barcelona but you don’t want to use these cheques for any reason, there exist three alternatives totally adapted to the needs of the modern day traveller.

The main difference you will find between these alternatives and Traveller’s Cheques is that they are accepted by almost all businesses in Barcelona. On the other hand, it is most likely that you’ll end up paying some commissions, either to pay or take out money.

· Debit Cards

The limit of money that you can take out with this type of card is the total that you have in your bank account. With time, their popularity has grown gradually.

· Credit Cards

Their main characteristic is that they allow debt. In this way, you can make the purchases that you like without needed to have the money in your account at the time.

· Prepaid Cards

They are less known. To be able to use them, it is necessary to load them with an initial quantity of money, and they often charge a fee for activation.

Where can I exchange my traveller’s cheques?

Although as time passes there are fewer and fewer places, there are still a wide variety of banks that allow the exchange of these cheques.

If you also are one of those people that likes to travel with the support that Traveller’s Cheques give, it is not a problem. You just have to go to the correct branch.

It is also possible that you have some Traveller’s Cheques that a family member or friend bought years ago. Don’t worry, as they don´t have an expiry date and they are inheritable!

In case that you want to exchange your American Express Traveller’s Cheques, access this search engine and get in contact with the relevant entity. If you are travelling to Barcelona, you can write Spain as the country and the post code of the area that you are staying in, and you will see which is the nearest place to make an exchange.

Checks and payments by checks in Spain. Spain in Russian

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Types of bank checks

Checks in Spain are one of the main means of payment between individuals and legal entities, along with cash and bank cards. Basically, payments by checks in Spain are carried out using bank checks, which we will discuss in this article. However, there are also other types of checks, which we will also mention in the article.

So, bank checks in Spain. In accordance with Spanish law, a bank check is a payment document by virtue of which the drawer instructs his bank to pay the amount indicated in the check to the holder of the check. To do this, the bank issues a bank book to the client.

General characteristics of bank checks in Spain:

  • the payout order is unconditional, that is, in order to receive money, the holder of a check does not have to provide the bank with documents confirming the reason and fact of issuing a bank check;
  • the bank is obliged to pay the check holder the entire amount indicated in the check, provided that there are sufficient funds in the drawer’s account. In case of their insufficiency, the bank is obliged to pay a part of the funds, the rest of the check holder can receive later.
  • Only the bank where the drawer has an account can be indicated as a check payer;
  • check must be presented for payment:
    • within 15 days if issued in Spain or to be paid in Spain,
    • within 20 days if issued in other EU countries but must be paid in Spain
    • within 60 days if issued in other countries but must be paid in Spain.

After the expiration of the specified terms, the bank may pay the presented bank check, if it has not been withdrawn.

A bank check in Spain must contain the following details:

  • the name “check” included in the text of the document;
  • order to the payer to pay a certain amount of money;
  • name of the bank and indication of the account from which the payment is to be made;
  • signature of the person issuing the check – drawer.

The date and place of issuance of a bank check are not mandatory details that the drawer must indicate. If the date is not specified, it is affixed by the holder of the check. It is from this date that the period for presenting a check for payment begins to be counted. Such checks are called “posdatados” or “antedatados”, because. the date shown on the check is in fact later than the actual date of issue of the bank check.

Upon receipt of payment by check, the holder of the check must hand over the original check to the bank, as well as pay the necessary bank commissions.

Main types of checks in Spain

  • “Al portador” – bearer. In this case, the name of the check holder is not indicated, and any person who presents it to the drawer’s bank can receive money on the check.
  • “Nominativo” – nominal. In this case, the drawer shall indicate the name of the holder of the check. However, the holder of a check may transfer a nominal check to another person. To do this, he must write the name of another person on a bank check and put his signature. The issuer of the check may prohibit the holder of the check from transferring the bank check to another person by affixing the phrase “No a la orden” on the check.
  • “Cheque cruzado” – crossed. This is a check crossed out on the front side by two parallel lines. Only one crossing is allowed per check. Crossing can be general and special.

General crossover occurs when there is no designation between the lines or there is a “bank” mark. A check that has a common cross can be paid by the payer only to the bank or to his client.

A special crossover is a crossover in which the name of the bank is entered between the lines. A check bearing this crossover can only be presented to the bank whose name is indicated between the lines.

  • “Abonar en la cuenta”. This inscription on the check means that receipt of payment on the check is possible only by crediting the amount specified in the check to the account of the holder of the check. That is, the receipt of cash in this case is impossible.
  • “Cheque conformado” is a check that is confirmed by the issuer’s bank. In this case, the bank blocks on the client’s account part of the funds for the amount of the check, which serves as a guarantee of its execution. Banks indicate “conforme” or “cerificado” on such checks.

“Pagaré” is a promissory note certifying an unconditional obligation (promise) of the debtor to pay the amount of money indicated in it to the holder of the bill after a certain period of time. Recently, promissory notes have been increasingly used by Spanish banks to raise funds. In this case, the bank acts as a debtor, which, after the expiration of time, returns the invested funds to the client with the payment of the agreed interest.

Need help in Spain? The service center “Spain in Russian” is more than 100 types of services in Russian in any region of Spain.

+7 495 236 98 99 or +34 93 272 64 90, [email protected]

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