Eurocheck
 |
Definition of 'Eurocheck'An alternative to the traveler's check, the Eurocheck was issued by a European bank and available in a number of currencies. Eurochecks could be issued in a number of currencies and could be cashed at over 200,000 banks around the world displaying the "European Union" crest. Also known as "Eurocheque." |
 |
Investopedia explains 'Eurocheck'First introduced in 1969, eurochecks were hugely popular from the 1970s through to the 1990s. They were no longer issued as of January 1, 2002, which led to a precipitous decline in their usage and popularity. Banks decided to stop issuing eurochecks for a number of reasons, including their higher cost of processing, the increasing usage of other forms of payment such as credit cards and ATMs, and the growing incidence of eurocheck fraud. |
Related Definitions
Articles Of Interest
-
The Evolution Of Banking
Banks are a part of ancient history. Find out how this system of money management developed into what we know today. -
Your First Checking Account
This owner's manual will show you what to expect from your bank. -
Choose To Beat The Bank
From internet banking to credit unions, it's in your power to cut fees and maximize service. -
When Good People Write Bad Checks
Overdraft protection can help when you overestimate your balance, but it will cost you. -
If I want to have some cash in a liquid account for unexpected emergencies, what is best? A savings account or another type?
It's always a good idea to keep some money set aside in a liquid form, but it's a double-edged sword, because the more liquid your money, the less it's earning. If you never have an emergency, ... -
3 Banking Moves You Should Make Before Traveling
Putting your finances in order should be one of your top priorities before traveling out of the country. -
Clearing Up Tax Confusion For College Savings Accounts
Put your kids through school without being hounded by the tax man. -
Is France The Euro Nation To Worry About?
France may well be the hill on which the euro crisis rallies or on which it dies. -
The Best Applications For Online Trading
This article looks at technology in the financial market and the use of online applications. -
Besides a savings account, where is the safest place to keep my money?
Savings accounts are safe because investors' deposits are guaranteed by the Federal Deposit Insurance Corporation (FDIC) for bank accounts or the National Credit Union Administration (NCUA) for ...
Free Annual Reports
