When traveling abroad, it’s best to carry cash specific to the country you’re visiting. Exchange currency at banks, airports, or travel agencies. Check exchange rates before leaving and consider using credit or debit cards.
Traveling to another country often requires planning, and that usually extends to money. Some countries accept US dollars, sterling or euros, but often this is only in areas known for tourism. It’s usually best to carry some cash specific to the country you’re visiting. Fortunately, there are plenty of places to exchange currency, both close to home and once you arrive at your destination. The most popular places to exchange currency include banks, airports, and travel agencies.
One of the first steps before embarking on a trip is to check the exchange rate even before you leave. Some countries can be much less expensive than others compared to what you are used to. In fact, many people allow a favorable exchange rate to help them decide where to go on vacation. If you’re already decided where to go, it’s good to have an idea of how much money you’ll probably spend compared to your home. There are various calculators and charts online that show the most current exchange rates, and the newspaper also features them in the business section.
Once you know the exchange rate, you can continue your preparation by having at least some cash before you travel. Many banks and travel agencies exchange currencies equally for many countries. It is generally recommended to go to such organizations to exchange some currency, at least enough to pay for transportation to your hotel when you arrive at your destination. Even if you plan to fly during the day when the country’s airport exchange counters and banks will be open, unexpected delays are frequent and can leave you landing without the ability to exchange currency overnight.
On the other hand, it is often advised that travelers wait until they reach their destination to exchange most of their currency. This is because the country you are traveling to is likely to have the best rate in its legal tender. Therefore, plan to change only a small currency in your home country, but save the main currency change for your arrival. If you are going to be carrying a lot of US currency cash, try to have the newest and cleanest bills you can find, as some countries will charge more to exchange old or threadbare bills.
Many people do not like to carry a lot of cash no matter where they are. Fortunately, credit and debit cards now allow you to forego carrying tons of foreign currency. Instead, travelers can use their credit card to make purchases, or their debit card to withdraw cash at ATMs when needed. It is recommended to find a major bank to withdraw from once you arrive in the country. You should also find out the fees charged by the bank, as the ability to exchange currency with as few fees as possible is often the goal of any traveler. Please note that most credit card companies charge a foreign transaction fee for using your card abroad.
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