OREANDA-NEWS. September 19, 2013. ICBC launched e-traveller cheques in pound sterling (GBP) in the wake of US dollar and euro, said an announcement by the Bank today. The new GBP e-traveller cheques further enriched ICBC's personal FX products to better meet customers’ demand for increasingly diversified FX financial services.

E-Traveller cheques are issued by American Express (AE) mainly for payment with top-up functions. The cheques can be used for payment at POS carrying the AE logo around the world outside Mainland China, or for cash withdrawal at AE ATM. As an upgrade to traveller cheques, e-traveller cheques are more convenient to use, easier to carry, and no change required during consumption. The funds in the account are permanently valid, and card holders can recharge the cheques for repeated usage.

Demand for overseas payment mounted as more people travel abroad for leisure, business, or overseas study, an ICBC executive said. Given the convenient procedure, high credit line and high security, e-traveller cheques have been increasingly favoured by overseas travellers. As an effort to improve the emerging service, ICBC has proactively made e-traveller cheques more convenient for payment by enriching product functions, expanding sales channel and optimising supportive services.