Traveler’s letter of credit

An instruction addressed to a bank or several institutions in Germany or abroad to hand over a certain sum of money to the beneficiary. Travelers’ letters of credit appeared en masse in Germany – “Rob” = travel without cash – after 1920; however, they were superseded by travelers’ checks from 1950 at the latest. The traveler’s letter of credit also widely competed with the postal savings book. – See traveler’s check, traveler’s means of payment.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/