Banker's cheques
They are the cheapest way of international money transfer. It is especially convenient when small amounts of money are transferred and it is not necessary to make an extra money transfer. DNB bankas sells and collects cheques of other banks, the value of which is denominated in convertible currencies.
Advantages and features of banker's cheques:
- They are convenient in settling accounts with foreign partners. Banker's cheques can be used for making payments for goods and services to foreign partners, i.e. to pay for subscription of books and publications, lotteries, goods, training in foreign schools, embassies for issue of visas and the like, to make gifts in cash, etc.
- Banker's cheques are very convenient for making payments when there is no need to make urgent money transfer.
- It is cheap. A banker's cheque is the cheapest international way of money transfer (payment).
- Fits if there is no enough information about the payee. A banker's cheque is the most convenient way of payment if there is no enough information about the payee: e.g.: when a firm that has submitted only its address and name is requested to pay. In which case international payment order is not possible.
- DNB bankas not only sells but also collects cheques issued by other banks, the value of which is denominated in hard currencies.
Traveller's cheques
DNB bankas sells American Express Traveller’s cheques in USD and EUR as well as buys traveller’s cheques in all currencies.
Advantages of traveller's cheques:
- Traveller's cheques can be easily exchanged for cash in banks of most countries;
- A traveller's cheque is not subject to expiry period;
- In most countries traveller's cheques can be used as cash. For example, USA Thomas Cook cheques are accepted everywhere and used instead of cash;
- Availability of the International Compensation Service determines reliability of traveller's cheques. In case of lost cheques you can apply to it for them to be replaced by the new ones at the moment of travelling. This Service is open 24 hours per day and 365 days per year. New cheques can be issued even on the same day;
- A signature is needed before exchanging traveller's cheques for cash. In case of lost or otherwise deprived cheques (e.g.: stolen cheques), another person will not be able to use them;
- Our Bank sells American Express traveller's cheques in the following currencies: USD and EUR. Traveller's cheques in EUR are especially convenient for travellers going to some countries of the European Union, because then they can be used for payment in and exchange for any currency of the EUR zone countries;
- In paying by cheque a change is given in cash;
- Upon submission a traveller's cheque a person is served in hotels and big shops;
- Traveller's cheques ensure the requirement set by foreign countries to have some money for making a living before entering into their territory;
- The Bank sells American Express traveller's cheques in USD, and EUR. The Bank purchases American Express and MasterCard (Thomas Cook) traveller's cheques in all currencies, and Swiss Bankers traveller's cheques in Swiss francs;
- DNB bankas can easily exchange cheques that have not been used for cash.
