Traveler's checks - Cheques de viajante

This is an article from travel tips.

You traveler's checks (or traveler's checks, in Brazil) were at one time the basic method of transporting money when travelling. These days these are not very common but are still extremely affordable and relatively accepted. These are generally not accepted like normal credit cards, and are not as convenient to use. In general, only large stores and hotels accepted these checks.

Travelers checks are issued in a specific currency. The currency used most often in travelers checks is the US dollar, but there are many currencies available. Persons holding American Express cards can receive emergency cash in the form of travelers checks at American Express offices abroad and its affiliates (sometimes a travel agency or bank). Make sure you bring a blank check from your checking account or at least know the name of the account. There is a 1% charge for issuing traveler's checks.

The main advantage of traveler checks is complete protection against loss or theft. After declaring them missing, the issuing company will replace them. However, you must also keep a record of your unused check numbers, and the replacement process can be time-consuming and inconvenient.

With traveler's checks, you will usually have to pay both to buy and use them. If you are going to buy them in a foreign currency, it might be worth it to find out if you can buy them with foreign currency money (assuming you already have some).