Currency: The Travelers Cheque That Stays at Home

US Banker, July, 2004 by Matthew de Paula

American Express is targeting its travelers cheques to people in foreign countries who like to keep cash dollars at home because they don't trust the local currency or banking system.

The company currently markets a version of its travelers cheques, called Cheque-Secure Funds, in Mexico, Argentina and Russia and is looking to launch it in other countries. American Express is also looking into offering these cheques to immigrants and other unbanked cash users in the U.S., but doesn't have immediate plans to do so.

This push is part of a larger effort to diversify products and services in its travelers cheques and prepaid division. A card equivalent of the travelers cheque was launched last October.

Sales of American Express travelers cheques have dropped from...

Read the full article with a Free Trial at MyWire.

Premium Content Partnership | MyWire provides an in-depth online archive library of reference works.