|Traveller’s cheques (TCs) no more|
The Sri Lanka Banks’ Association (SLBA) said the issuance of traveller’s cheques (TCs) has been stopped with immediate effect.
The world over issuing TCs has been stopped owing to most banking transactions being unpopular in today’s world, according to Upali de Silva, Secretary General SLBA.
“We had a meeting with the Central Bank about a month ago where these issues were discussed and it was decided to discontinue with TC,” he added.
“Since people have the facility to carry credit or debit cards and also cash up to US $ 5000, there is hardly any need to use traveller’s cheques. Even in the world now the trend has changed and people have got away with the paper use,” he said.