Protect yourself! This slogan must be guided by the citizens of Ukraine since the early days of the notorious financial crisis. Landslide depreciation of the national currency and the loss of confidence in the banking system forced the Ukrainians to withdraw deposits from banks and the hryvnia exchange for foreign currency. Blood saving people migrated en masse under mattresses, which, in turn, caused a sharp increase in the activity of criminal elements. According to the Ministry of Internal Affairs of Ukraine, in 2008, every hour occurred about three burglary. And after the October outflow of funds from banks in November 2008 in Kiev, the number of burglaries has doubled.
The reliability of the protection of their money today can not be sure nobody. The state is virtually eliminated from the problems of ordinary Ukrainians and does not offer any real protection of their savings. Recent events have once again confirmed his helplessness. With the tacit approval of the National Bank grivnya devalued in August with an average rate of 3% per week, and the list of problem banks replenished monthly. Nothing serious in the fight against crime can not be offered and the Interior Ministry. Yet out of seemingly dead-end situation today was discovered in XIX century. In 1891 was invented the world's first traveler's check. This tool and to this day is considered a reliable means of ensuring the security of personal money.
Advantage
Traveler's checks do not depend on individual banks and even the banking system. Issuers of traveler's checks are Western companies with a high credibility rating, which provide to their solvency. Banks simply selling or exchanging traveler's checks for cash. Checks, purchased in one bank, can be exchanged for cash in any other financial institution, working with traveler's checks. And in almost every country. In the history of the issuer of traveler's checks, which are sold in Ukraine, namely, the company American Express, there have been episodes when collapsing banking systems of many countries. However, all the company's customers were able to exchange traveler's checks for cash and during the two world wars, and during the Great Depression, and in 1998. The company exists and is successfully operating for over 150 years. Even though major changes in the global economy taking place today, American Express net profit in 2008 amounted to 2.63 billion dollars, and revenues - 28.4 billion
Traveler's check - a certificate for an amount of foreign currency (the most popular euro and U.S. dollars), which allows the holder to receive a specified amount or to buy anything, just sign on the road check at the time of presentation. Their duration (as opposed to plastic cards) is not restricted. In fact, a traveler's check is very similar to ordinary banknotes, but, apart from the basic levels of protection inherent in the currency, it has a major and indisputable advantage - if the check is stolen, it gets messed up or lost, then its price will be refunded in full, and by check will not be able to take none but his master.
in the world today there are more than a dozen types of traveler's checks, but the credibility and popularity continued to lead American Express, Thomas Cook, as well as their younger rivals Visa and ГђВЎity Corp. The main difference between them - regions use. For example, American Express checks are widely distributed in the United States and Canada, Visa and Thomas Cook - in Europe, and City Corp - in Asian countries. In Western Europe and the U.S. checks American Express and Thomas Cook are accepted for payment in hotels, restaurants and shops along with the usual money. In Ukraine, widespread until only checks American Express.
Traveler's checks - it is actually the same dollars and euros. However, checks are more reliable and often more profitable than cash currency, - explains the features of a financial instrument CEO of traveler's checks and prepaid financial products of American Express in Russia and CIS Alexei Maslov. - First, by buying the currency in traveler's checks, you will however get a way to protect money. Secondly, checks in dollars and euros can be freely bought in the largest branches of banks, and they are often sold at a favorable rate. Therefore, the currency in traveler's checks is more profitable and safer than cash.
agree, sounds tempting. However, before you finally choose this tool as a means of protection of savings, should more detailed analysis of both advantages and disadvantages of using checks.
Purchasing
checks in Ukraine are not so common, work with them only large banks. Most active - VTB, Praveksbank, Privatbank, Raiffeisen Bank Aval, Ukreximbank. Even in these banks did not always and in all branches of checks are available. As a rule, you must call the bank in advance (one or two days) and order the required number and value of checks. In order to buy traveler's check, you need a passport and an identification code. When buying check bank usually takes a commission (usually is 1% of the nominal value, but not less than five dollars). Free purchase checks in Ukraine is possible only in the joint stock bank and the issuing company. So, today is not charged purchase American Express checks in the bank VTB. In the spring of this year, free checks to buy the company also offered Raiffeisen Bank Aval and Privatbank. Unlike the plastic cards to process checks do not need to open a bank account, so check purchase procedure more simple. But still have to complete a sufficient number of securities.
At each check, there are two places for the signature. The first time will have to sign on each check in the presence of a bank. This should be attentive to the quality signature - the second time it will have to play at a time when the road check will need to use. In this case the identity of the first and second signature is a key point that will prove your right to use a check. Do not add a second signature in advance. The bank must necessarily take an agreement to purchase traveler's checks (sometimes called the contract or document on payment), which will include numbers of all purchased checks. The document may be required if checks are stolen: with it's checks can be blocked and recovered. Under the rules of issuers of checks, this agreement should be stored separately, which is sometimes difficult.
Buy
can check for the currency of any of the hryvnia. The exchange rate for traveler's checks are usually more advantageous exchange rate, exchange currency. Difference was particularly pronounced in the period of panic in the market of currency exchange operations. The advantage of the exchange rate, often with a vengeance overrides the commission of the bank.
Cashing
Issuers checks usually buy them without a commission. But to find the official office of American Express is not always easy. Typically, they are located in major cities of Western Europe and North America. On vacation in Turkey or Bulgaria, the Ukrainians will likely use the services of banks or exchange offices, which take a commission 1-3%. Furthermore, official institutions, which can be cashed the check, do not work in the evening and night, so the extra cases still need to have a certain amount of cash or plastic card that can be used at all-night ATM. In Ukraine, return receipt-issuing companies also can not (and can not buy). Ukrainian banks, provided that the check was purchased from them, take them back with a commission of 1%. For other people's checks, most banks exhibited rate of 2% of nominal.
Compensation
In the case of theft of checks American Express promises to restore them during the day, wherever you are. However, this requires that, along with checks being stolen purchase agreement. On the reverse side of this agreement is a phone service recovery (in different countries), where you can call at any time. After the call checks will be put in a stop list, but, unfortunately, this does not mean that they will be guaranteed reimbursement. Standard list of documents for reimbursement: agreement to purchase, identity card, certificate from the police. Also, probably need to talk with a representative of the company-issuer, which is usually a good psychologist, determines the degree of truthfulness of your story. During the conversation, he would try to make sure that you do not pre-stamped a second signature on checks, do not forget check somewhere in a public place and inadvertently, in the end, not started a whole story with the sole purpose - to deceive the issuing company. On top of all the procedures have to fill out several questionnaires, describing the trouble occurred.
Only after that the issuing company will decide on compensation checks. If the situation seem to them suspicious, it is quite possible failure. To avoid this, you need to advance carefully read and memorize the rules for using traveler's checks, which are listed on the checks and the agreement on their purchase.
As you can see, the check is as clear pluses and minuses. But despite this, travelers checks were and are tested and so far a fairly reliable means of storing and transporting money. The main advantage: in case of loss they can compensate for almost any country in the world. In addition, it is quite pleasant, when the security of your funds is not dependent on the state or from a particular bank, and in his pocket is a personal currency converter, where instead of U.S. presidents the main level of protection is your personal signature.
Artem Svyatnenko
Last Friday, the euro /dollar at the U.S. session, rose to 1.4642
On Friday, the U.S. stock market dominated by pessimism
Latin America: Competition in Rio de Janeiro has supported the Brazilian market
Revenue losses were
The future vice-chancellor of Germany for the adoption of the EU-Ukraine
Hryvnia found support
In the coming days can not be ruled correctional weakening ruble, especially if oil prices change the direction of
Despite the fact that the Friday session was a failure in terms of statistics, to talk about the turn of the medium-term trends in too early
Likely developments in Russia's stock market is deepening downward correction
Personal Currency
protection means the devaluation of traveler's checks can be …
Protect yourself! This slogan must be guided by the citizens of Ukraine since the early days of the notorious financial crisis. Landslide depreciation of the national currency and the loss of confidence in the banking system forced the Ukrainians to withdraw deposits from banks and the hryvnia exchange for foreign currency. Blood saving people migrated en masse under mattresses, which, in turn, caused a sharp increase in the activity of criminal elements. According to the Ministry of Internal Affairs of Ukraine, in 2008, every hour occurred about three burglary. And after the October outflow of funds from banks in November 2008 in Kiev, the number of burglaries has doubled.
The reliability of the protection of their money today can not be sure nobody. The state is virtually eliminated from the problems of ordinary Ukrainians and does not offer any real protection of their savings. Recent events have once again confirmed his helplessness. With the tacit approval of the National Bank grivnya devalued in August with an average rate of 3% per week, and the list of problem banks replenished monthly. Nothing serious in the fight against crime can not be offered and the Interior Ministry. Yet out of seemingly dead-end situation today was discovered in XIX century. In 1891 was invented the world's first traveler's check. This tool and to this day is considered a reliable means of ensuring the security of personal money.
Advantage
Traveler's checks do not depend on individual banks and even the banking system. Issuers of traveler's checks are Western companies with a high credibility rating, which provide to their solvency. Banks simply selling or exchanging traveler's checks for cash. Checks, purchased in one bank, can be exchanged for cash in any other financial institution, working with traveler's checks. And in almost every country. In the history of the issuer of traveler's checks, which are sold in Ukraine, namely, the company American Express, there have been episodes when collapsing banking systems of many countries. However, all the company's customers were able to exchange traveler's checks for cash and during the two world wars, and during the Great Depression, and in 1998. The company exists and is successfully operating for over 150 years. Even though major changes in the global economy taking place today, American Express net profit in 2008 amounted to 2.63 billion dollars, and revenues - 28.4 billion
Traveler's check - a certificate for an amount of foreign currency (the most popular euro and U.S. dollars), which allows the holder to receive a specified amount or to buy anything, just sign on the road check at the time of presentation. Their duration (as opposed to plastic cards) is not restricted. In fact, a traveler's check is very similar to ordinary banknotes, but, apart from the basic levels of protection inherent in the currency, it has a major and indisputable advantage - if the check is stolen, it gets messed up or lost, then its price will be refunded in full, and by check will not be able to take none but his master.
in the world today there are more than a dozen types of traveler's checks, but the credibility and popularity continued to lead American Express, Thomas Cook, as well as their younger rivals Visa and ГђВЎity Corp. The main difference between them - regions use. For example, American Express checks are widely distributed in the United States and Canada, Visa and Thomas Cook - in Europe, and City Corp - in Asian countries. In Western Europe and the U.S. checks American Express and Thomas Cook are accepted for payment in hotels, restaurants and shops along with the usual money. In Ukraine, widespread until only checks American Express.
Traveler's checks - it is actually the same dollars and euros. However, checks are more reliable and often more profitable than cash currency, - explains the features of a financial instrument CEO of traveler's checks and prepaid financial products of American Express in Russia and CIS Alexei Maslov. - First, by buying the currency in traveler's checks, you will however get a way to protect money. Secondly, checks in dollars and euros can be freely bought in the largest branches of banks, and they are often sold at a favorable rate. Therefore, the currency in traveler's checks is more profitable and safer than cash.
agree, sounds tempting. However, before you finally choose this tool as a means of protection of savings, should more detailed analysis of both advantages and disadvantages of using checks.
Purchasing
checks in Ukraine are not so common, work with them only large banks. Most active - VTB, Praveksbank, Privatbank, Raiffeisen Bank Aval, Ukreximbank. Even in these banks did not always and in all branches of checks are available. As a rule, you must call the bank in advance (one or two days) and order the required number and value of checks. In order to buy traveler's check, you need a passport and an identification code. When buying check bank usually takes a commission (usually is 1% of the nominal value, but not less than five dollars). Free purchase checks in Ukraine is possible only in the joint stock bank and the issuing company. So, today is not charged purchase American Express checks in the bank VTB. In the spring of this year, free checks to buy the company also offered Raiffeisen Bank Aval and Privatbank. Unlike the plastic cards to process checks do not need to open a bank account, so check purchase procedure more simple. But still have to complete a sufficient number of securities.
At each check, there are two places for the signature. The first time will have to sign on each check in the presence of a bank. This should be attentive to the quality signature - the second time it will have to play at a time when the road check will need to use. In this case the identity of the first and second signature is a key point that will prove your right to use a check. Do not add a second signature in advance. The bank must necessarily take an agreement to purchase traveler's checks (sometimes called the contract or document on payment), which will include numbers of all purchased checks. The document may be required if checks are stolen: with it's checks can be blocked and recovered. Under the rules of issuers of checks, this agreement should be stored separately, which is sometimes difficult.
Buy
can check for the currency of any of the hryvnia. The exchange rate for traveler's checks are usually more advantageous exchange rate, exchange currency. Difference was particularly pronounced in the period of panic in the market of currency exchange operations. The advantage of the exchange rate, often with a vengeance overrides the commission of the bank.
Cashing
Issuers checks usually buy them without a commission. But to find the official office of American Express is not always easy. Typically, they are located in major cities of Western Europe and North America. On vacation in Turkey or Bulgaria, the Ukrainians will likely use the services of banks or exchange offices, which take a commission 1-3%. Furthermore, official institutions, which can be cashed the check, do not work in the evening and night, so the extra cases still need to have a certain amount of cash or plastic card that can be used at all-night ATM. In Ukraine, return receipt-issuing companies also can not (and can not buy). Ukrainian banks, provided that the check was purchased from them, take them back with a commission of 1%. For other people's checks, most banks exhibited rate of 2% of nominal.
Compensation
In the case of theft of checks American Express promises to restore them during the day, wherever you are. However, this requires that, along with checks being stolen purchase agreement. On the reverse side of this agreement is a phone service recovery (in different countries), where you can call at any time. After the call checks will be put in a stop list, but, unfortunately, this does not mean that they will be guaranteed reimbursement. Standard list of documents for reimbursement: agreement to purchase, identity card, certificate from the police. Also, probably need to talk with a representative of the company-issuer, which is usually a good psychologist, determines the degree of truthfulness of your story. During the conversation, he would try to make sure that you do not pre-stamped a second signature on checks, do not forget check somewhere in a public place and inadvertently, in the end, not started a whole story with the sole purpose - to deceive the issuing company. On top of all the procedures have to fill out several questionnaires, describing the trouble occurred.
Only after that the issuing company will decide on compensation checks. If the situation seem to them suspicious, it is quite possible failure. To avoid this, you need to advance carefully read and memorize the rules for using traveler's checks, which are listed on the checks and the agreement on their purchase.
As you can see, the check is as clear pluses and minuses. But despite this, travelers checks were and are tested and so far a fairly reliable means of storing and transporting money. The main advantage: in case of loss they can compensate for almost any country in the world. In addition, it is quite pleasant, when the security of your funds is not dependent on the state or from a particular bank, and in his pocket is a personal currency converter, where instead of U.S. presidents the main level of protection is your personal signature.
Artem Svyatnenko
Last Friday, the euro /dollar at the U.S. session, rose to 1.4642
On Friday, the U.S. stock market dominated by pessimism
Latin America: Competition in Rio de Janeiro has supported the Brazilian market
Revenue losses were
The future vice-chancellor of Germany for the adoption of the EU-Ukraine
Hryvnia found support
In the coming days can not be ruled correctional weakening ruble, especially if oil prices change the direction of
Despite the fact that the Friday session was a failure in terms of statistics, to talk about the turn of the medium-term trends in too early
Likely developments in Russia's stock market is deepening downward correction