“AMERICAN EXPRESS” traveler's checks
AMEX traveler’s cheques which we are widely  used throughout the world as an analogue for cash, have got a large number of advantages. Currently, all over the world, these cheques, are accepted, just like cash, in hundreds thousands of restaurants, hotels, rent-a-car offices, service facilities, as well as in shops and supermarkets. Along with all the above, in western countries and in Russian AMEX cheques gradually start replacing cash kept at home and that tendency is expanding.
In comparison with cash, traveler’s cheques are safe, which feature is recognized in an international context. To avoid various problems which may arise when one looses, damages or has his cash stolen when keeping or using the money, AMEX cheques are flexible and convenient as even you loose the cheques as a result of an negative circumstance, you can recover your money in full just by one call which you can make any time of the day.
The procedure for the use of cheques is very simple. You can pay to purchase your USD or EUR cheques either in cash or by wire transfer. Verification of the cheques is made with checking of two signatures appearing on the cheques. The first time a customer signs when he purchases a cheques, and the second time – when he is submitting the cheques for encashment. Provided that the signatures are sufficiently similar, your cash on the cheques is guaranteed.
Often questions arise as to difference between traveler’s cheques and other means of payment, especially plastic cards. Below, you can read some information about comparative benefits of cheques against plastic cards:
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Purchasing cheques from the Bank.
1. What types of cheques can I purchase from the Bank?
Our Bank is selling American Express Travellers Cheque only.
Cheques are denominated in the amount and currency as follows:
in USD: 20, 50, 100, 500 and 1000 USD
in EUR: 50, 100, 200 and 500 EUR.
2. What are the stages for purchase of the cheque?
- Customer comes to the Bank;
- Customer submit his identification documents to the Bank;
- Customer notifies the Bank’s employee of the type, nominal and total value of travelers cheques he is willing to purchase;
- Bank’s employee make the necessary paper work;
- Customer pays value of cheques and the applicable commission to the cash desk;
- Customer puts his signature where required on travelers cheques and other necessary documents and collects his cheques.
Submission of cheques for encashment by the Bank.
1. What kind of cheques can be encashed at the Bank?
“Bank of Baku” is accepting the following types of AMEX cheques for encashment:
- American Express Travellers Cheque
- American Express Cheque Secure Funds
- American Express Cheque for Two (this is the cheques for 2, allowing two persons to make use of the cheques. Both persons should sign the cheques on purchase, and the encashment can be made with the signature of either of these person).
- American Express Gift Cheque
- Special American Express Travellers Cheque with Citibank logo.
Only cheques nominated in USD or EUR can be accepted for encashment.
2. What are the stages for the submission of the traveler's checks to the Bank?
- A customer comes to the Bank;
- Submission of a personal identification document and of traveler's checks to the Bank;
- An employee of the Bank verifies the compliance of the traveler's check in line with internal regulations of the Bank and conditions determined by American Express (authenticity of traveler's check, presence of signature of the holder in the upper left corner of the traveler's check and absence of any signature in the lower left corner of the traveler's check, etc.);
- In the presence of the employee of the Bank, the customer countersigns the traveler's check in the relevant section located in the lower left corner of the traveler's check;
- Employee of the Bank verifies the first and the second signature of the holder of the traveler's check. Where a traveler's check is designated for two persons, the second signature should be verified against any of the first signatures;
- Where the signatures are identical, an employee of the Bank obtains a special authorization code;
- Upon authorization, the traveler's check is accepted for payment and an employee of the Bank prepares the necessary documentation;
- Customer submits the necessary papers to the cash-desk and receives payment for the traveler's check (subject to withdrawal of the Bank’s commission for the payment).
3. What are the conditions for the acceptance of the traveler's check for collection?
- No first signature of the check holder on the traveler's check;
- Both signatures being made on the traveler's check by the holder in advance;
- Submission of the traveler's check bearing endorsement signature;
- Doubt as to authenticity or due completion of the traveler's check;
- Physical damages of the traveler's check (including, torn and then glued traveler's check; traveler's check without sections of low significance; traveler's check without initial color or uncolored; burned or punched traveler's check; traveler's check fully or partially stained with oil, ink, paint; traveler's check affected by a chemical substance);
- Where acceptance of the traveler's check for collection is required by American Express.
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| “Bank of Baku” is charging the following fees for operations with cheques: |
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Purchase of cheques |
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2 % of the amount |
Sale of cheques |
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Submission of cheques for encashment |
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3 % of the amount, min. 10 AZN (per cheque) |
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Additional information:
Please send us your queries related to this service. Approach any branch or office of the Bank or call Information center 145.
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