Refund Research Redone
May, 1981
Traveler's checks are very big business--about 35 billion dollars at last count--and the industry continues to grow. On the surface, everyone seems to be happy. Travelers profit because the checks are replaceable and usually yield better exchange rates than dollars overseas. The companies that issue the checks profit because they get to hold your money, without paying you any interest, until you get around to cashing the checks.But the profits that companies can make during this holding period--...
