As
you may be aware that the issuance or encashment of Travellers Cheques
(TCs) has been discontinued in Bangladesh. There was a time (before the
introduction of credit cards) when travelling meant rushing to the bank
to get one's quota of TCs and cash foreign currency whatever was
allowed.
TCs were very popular as they were secure and easy to
carry – if by chance anyone lost them or they were stolen, a visit to
the bank to report the loss and you would be guaranteed a refund
(practically within 24 hours) provided you had followed the instructions
of prior signing, keeping the purchase agreement, etc.
Expat
Bangladeshis or foreigners travelling here, should know that they should
come with cash currency or credit cards for their financial
requirements. For Bangladeshi residents, in case you are holding
travellers cheques, which were issued to you before this circular came
into place please know that even though you cannot do anything with them
here you can always use them overseas.
You can either encash
them (there will always be a fee involved) or deposit them into an
account, if you have one, or give them to your children. When you gift
TCs please remember to sign them on the top and bottom (spaces provided)
and print the name of the person you are gifting it to in the centre
(space provided).
With the introduction of international credit
cards and the increase in the quota of cash currencies TCs seems to be a
thing of the past, a forgotten item though one does remember them with
fond memories, the AMEX TCs or the Visa TCs, once such an integral part
of our travel items.
A traveller's cheque does not have an expiry
date so if are holding onto any do not despair; you can use them on
your next trip overseas!
In the current situation the travel
quota for Bangladeshis is USD 12000 – USD 7000 for non-SAARC countries
and USD 5000 for SAARC countries. You can carry a maximum of USD 3000 in
cash foreign currency and the rest can be reserved against your
international credit card. With all the relaxation of the Central Bank
rules travelling has become so much easier for Bangladeshis!
