The issuance of traveller’s cheques has been stopped with immediate effect, the Sri Lanka Banks’ Association (SLBA) announced said.
The decision has been taken at a recent discussion held at the Central Bank, with all the banks coming to an agreement not to issue traveller’s cheques with immediate effect.
Since people have the facility to carry credit or debit cards and also cash up to US $ 5000, there is hardly any need to use traveller’s cheques. Even in the world now the trend has changed and people have got away with the paper use, the officials stated.