American Express

Financial services / Payment processing

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Risks

1. Loss: Travellers cheques are physical cards that can easily be lost.

2. Fraud: Travellers cheques can be easily forged, and there is little that can be done for victims of fraud.

3. Limited Use: Some stores and businesses do not accept American Express travellers cheques.

4. Fees: American Express travellers cheques often incur a fee for cashing, as well as conversion fees if the cheques are being used in a foreign currency.

5. Non-Refundable: American Express travellers cheques are not normally refundable, meaning that if you lose them or they’re stolen, you won’t get your money back.

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