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AmEx Unveils New Euro Travelers Checks

September 09, 1998|From Reuters

LONDON — American Express Co. on Tuesday unveiled the first travelers checks denominated in euro, the European single currency due to be launched in January.

The new check, featuring a pastel-colored world map and trilingual acceptance instructions, will be printed over the next several months in denominations of 50, 100 and 200 euros, New York-based American Express said.

The checks will have a world map on the front and acceptance instructions in English, French and German on the back.

When the euro takes effect in an initial 11 countries on Jan. 1, 1999, there will be a three-year transition period before euro notes and coins go into circulation on Jan. 1, 2002.

During this time, consumers will be able to use American Express euro-denominated travelers checks to pay for goods and services as retailers begin to convert to pricing in euros.

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