Abstract: An electronic travelers cheque transaction terminal for use in a financial institution such as a bank for purposes of assisting in the sale, refund or encashment of travelers cheques, and used in combination with a host computer with which the terminal is connected by telephone communication lines and which provides authorization of travelers' cheque transactions, comprising a character recognition element for reading data from the travelers cheques being sold, encashed or refunded, and a control element including a control processing unit and a control program stored in memory. The program is used for controlling the verification of the status of the data, the receipt of authorization of the transaction upon verification of the data, and the storage of the data into another memory upon authorization of the transaction. The control further includes means for generating a "Buffer Full" signal when the storage of the second memory is at capacity.