Traveler cheque

An ideal choice for an ideal currency will certainly be of an ideal destination country. Paul Merchants offers currency notes in all major currencies of different denominations. Paul Merchants has proved themselves as the best company offering the best currency rates for selling or buying foreign currency. It’s the best mode to carry foreign currency for your everyday needs when travelling abroad, however the amount of foreign currency which you are eligible to carry with you is subject to RBI regulations.

The finest range for choosing the travelers cheque would surely be based on the selection of a destination country. In particular, travelers cheques can be availed in form of US Dollars, Sterling Pounds, Euros, Australian Dollars, Canadian Dollars, Japanese Yen, Swiss Francs .In case, you choose a country that does not have traveller cheques, then go for traveller cheques for US Dollar as it is second best choice or just opt for a Travel Card. Just like cash, one can save all travellers cheques which are not being spent anywhere and can be used anytime in future as they do not have any expiry date. Therefore, these traveller cheques should be treated exactly same as cash. It can be used at hotels, shops or any other establishment. It’s a secured and easy to use when travelling abroad. You can an save the unspent money for the future trips or the same can be en-cashed from any of the branches.(Please refer to the FEMA guidelines as prescribed by RBI on the amount and period for encashment of Forex on Return)

Paul Merchants is one of the top sellers of American Express Travelers cheques in India. However, individual choice particularly depends on a particular travel destination.

Once a person comes back from the trip, he can convert traveller cheques into cash at the principal rates. In case, a person misplaces traveller cheques, he should immediately contact an issuing office in the locality and within 24 hours, he has to inform the police and obtain the FIR from them.

In case, you find that a traveller cheque is misplaced or stolen somewhere, the issuer agency will refund the face value of the cheques provided to you, subject to your following the prescribed process in this regard.

• * When you receive the traveller cheques from the issuing agency, instantly upon receipt, sign each and every cheque on the column for “Signature of the Holder”, but make sure to not to countersign any of these cheques.
  * You should protect every cheque from theft or loss same way as you protect your cash.
  * You should not use these cheques as a collateral security.

• * It is mandatory to inform the issuer about the theft or loss of the traveller cheques within a day or 24 hours, and also give the police complete details about the circumstances how this incident took place and get a report that should have reasonable information.
  * While claiming the refund for a theft or misplaced traveller cheque, you have to provide a valid ID proof and the copy of purchase receipt of the PAFF.
  * You have to provide prescribed documents for refund claim with complete satisfaction and attest them in full faith.
  * You should give your full support during investigation procedure of the theft or loss of cheques, and also in ultimate prosecution as well.



Though, the issuing agency holds the right to make any kind of refund and effort is made to ensure processing of the refund at the earliest possible, it is not answerable for any kind of expense or loss raised on any account. Except it, the issuer will not refund these cheques, in case they are being confiscated or seized by government, revenue, customs, state, military, police or any kind of such personnel or officials. The issuing agency would not be indebted to pause the payment of these cheques at any cause.

Travel Cards are prepaid foreign currency cards that help you travel abroad conveniently without worrying about money. It gives you an advantage to travel cashless and is an alternative to currency notes and travelers cheques.

Paul Merchants’ Global Currency Cards co-powered by Axis Bank are the White Labelled Multi Currency cards that allow travellers to use funds across 15 currency wallets and save the cross currency charges when on their trips to foreign countries. USD, EUR, GBP, SGD, AUD, CAD, JPY, CHF, SEK, AED, SAR, THB , NZD, HKD, and ZAR can be loaded at once for your travel across the world.

Outward Remittances or more commonly called SWIFT Transfers is the easiest and most common way of sending funds overseas. Paul Merchants Ltd. provides hassle –free outward remittance facility at the best rates with minimum charges and complete transparency and convenience. The outward remittance facility/SWIFT Transfers are available in all major currencies across the globe.

In a way to provide one stop solutions to its customers, Paul Merchants Ltd has partnered with few banks to issue Foreign Currency Drafts to its customers. Customers can avail Foreign Currency Drafts over the counters through our branches.