It is important to distinguish the currency denomination of the cheque and its originating country. Indeed, national cheques are compensated at a national level, at least during the early phase of the transition period, and this entails high transaction fees and a security risk when they are used in other countries. In most cases, it is unlikely that enterprises accept foreign domestic cheques whatever the denomination. However, in border areas, or in resorts with a strong international presence, some companies might consider this. In some countries, it is acceptable to charge a specific fee according to the type of payment instrument, provided that there is no discrimination between the euro and the national currency unit.
Travellers cheques exist in both national currencies and in euros.
The same treatment applies to both denominations regarding conversion rates and possible transaction fees. Transfers are a completely transparent payment instrument because the banks carry out the necessary conversions. Transfers in euros should incur the same costs as those in national currencies. However, only the national currency has status of legal tender within its national borders. Enterprises are not obliged to accept cash in another European currency.