A traveler's cheque is a medium of exchange utilized as an alternative to hard currency. Travelers often use traveler's cheque on vacation to foreign countries. This is safer alternative to carrying cash when you are visiting foreign countries.
Advantages of Traveler's Cheque
Having lot of advantages there are some cons to using traveler's cheque. It is not accepted by all vendors, and expenses are more difficult to track. With the advent of technology and plastic cards, the use of cheques is reduced and moved to using cards.