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Traveller's cheques were first issued on 1 January 1772 by the London Credit Exchange Company for use in 90 European cities, [1] and in 1874, Thomas Cook was issuing "circular notes" that operated in the manner of traveller's cheques. [2] American Express developed a large-scale international traveller's cheque system in 1891, to supersede the ...
Traveler's cheques established American Express as a truly international company. In 1914, at the onset of World War I , American Express in Europe was among the few companies to honor the letters of credit (issued by various banks) held by Americans in Europe, because other financial institutions refused to assist these stranded travelers.
Marcellus Flemming Berry was an American inventor who devised the traveller's cheque while working for American Express. [1] [2] References This page was last edited ...
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Berry, who had invented the express money order in 1882, created the American Express Traveler's Cheque, which was launched in 1891 in denominations of $10, $20, $50, and $100. [ 8 ] Personal life
Squeri joined American Express in 1985 as a manager in the Travellers Cheque Group [4] and became an American Express vice president in 1990. [17] From 2000 to 2002 he served as president of the Establishment Services group in the United States and Canada, [4] and from 2002 to 2005 he was president of the Global Commercial Card division.
Since January 2014, Reisebank offers precious metals, travel money and traveler's checks in its online shop. [3] Since the beginning of 2016, only the purchase of traveler's checks from American Express is possible, the sale of these has been discontinued. Reisebank is a partner of Western Union.
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