Travellers' cheques provide secure access to cash without the charges

A new report published today by American Express highlights the benefits of travellers' cheques as a safe alternative to foreign currency.

The report shares several benefits for taking travellers' cheques away on holiday. Firstly, says the report, they can be redeemed for cash at no charge, unlike some ATM machines.

Secondly, they are replaceable if they are lost or stolen, and this can happen usually within 24 hours of loss.

They also cite how travellers' cheques can help a holidaymaker manage their budget effectively, as they can see exactly how much they have left.

A spokesman for the company said that when people go on holiday, the last thing they want to worry about is having ready cash for purchases. He added that travellers' cheques should be part of a mixed approach to taking currency aboard as it offers security and peace of mind.