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TeachMeFinance.com - explain traveler's check traveler's check -- a type of check designed especially for business or vacation travelers. The traveler pays for the checks in advance. Thus the check is an order from the issuing company to pay on demand. Traveler's checks are issued in various fixed denominations, may be cashed almost anywhere in the world, and are insured against loss, theft, or destruction. historic definition... Traveler's check or cheque -- A check for a specified amount issued by a banker and payable by any correspondent of the banker. The traveler purchases a number of these checks for, say, $50 each and indorses each as he presents it for payment. These checks are largely used in place of letters of credit. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.