by 
The Curious Bag
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Travelers checks are accepted the same as cash in many places around the world. They are convenient because they can replaced if they are lost or stolen.
Identification
You can buy travelers checks at banks, American Express offices and AAA branches. The seller may charge a fee. The issuer will use that day's exchange rate to calculate the purchase price of the travelers check.
Types
Most sellers of travelers checks offer checks in U.S. dollars, Euros, Australian dollars, Canadian dollars, Pound Sterlings and Japanese Yen. Sellers recommend that denominations under $100 are often easiest for merchants to use.
Function
Simply hand the cashier the appropriate amount of currency in travelers checks, just as you would with cash. Sign the checks while the cashier is watching, and present identification if requested.
Options
Many sellers of travelers checks offer checks for two, which list two names on the check. They can be used with the signature of one or both of the names listed.
Benefits
Travelers checks are not tied to your bank account, so there is no fear of identity theft if they are lost or stolen. Most issuers have a toll-free number to call if your travelers checks are lost or stolen.
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