Jefferson Bank and Trust offers cashier’s and traveler’s checks for your convenience and security.
Both of these checks can be convenient and inexpensive ways to transfer payments, especially for travelers and those that just need one check to make a payment. However, keep in mind there are fees associated with both cashier’s and traveler’s checks.
Our partner for traveler’s checks is American Express. Hotels, restaurants, and boutiques from around the world accept American Express traveler’s checks. Using traveler’s checks is a great way to avoid the complication and wasted time involved with currency exchange. If your traveler’s checks are lost or stolen, you can also get your money refunded if you report the loss quickly. This provides both convenience and security. Cashier’s checks are a great tool to use if you need to be able to pay someone with a check but don’t typically use them or to pay someone that requires payment by cashier’s check. Stop payments cannot be placed on a cashier’s check so a surety bond may be required if one is lost or stolen.
To get traveler’s checks or cashier’s checks, contact one of our banks in St. Louis today at 314-621-0100 for more information or stop by one of our locations.
When it is Useful to Use Traveler’s Checks
The best way to use traveler’s checks is as a replacement for cash when traveling. They are especially useful if you plan to move across many countries that may have different currencies.
For example, if you plan to visit the United Kingdom and then ride the train through the Chunnel to France, using traveler’s checks to fund your travels can be more convenient than having to change your dollars into British pounds and then your pounds into Euros. Many credit card companies also charge higher fees for international transactions to cover your foreign exchange costs, and traveler’s checks allow you to avoid this.
Further, if you tend to have trouble keeping track of your wallet – or fear losing it due to theft – traveler’s checks can help you to avoid loss.
The Benefits of Cashier’s Checks
Unlike typical paper checks, cashier’s checks are made out in print with a certain amount written on them. Further, because it comes directly from Jefferson Bank, we certify that there’s enough money in the account to cover the cost.
This provides people with an added guarantee of security that isn’t present in a standard paper check. A cashier’s check can’t bounce. The bank withdraws the funds from its own reserves to provide for the transfer and takes the money instantly out of your account.
The main reasons why some people or businesses ask for a cashier’s check is because they want additional security or want to make sure that they will be paid in a timely fashion.
Another reason some people use cashier’s checks is to avoid needing to regularly order checkbooks. If you only have to write a few checks every year, just using a cashier’s check instead can save you some time and money ordering new checkbooks.
Visit One of Our Banks in St. Louis for your Cashier’s & Traveler’s Checks
To get traveler’s checks or cashier’s checks, you can visit our bank in St. Louis or call us at 314-621-0100 for more information.