Money and Currency

Advice for Managing Your Money Abroad

  • Call your bank and credit card company in advance to advise them of your planned destinations and dates. They will note your account to prevent declined charges triggered by their fraud prevention features.
  • Always keep money and identifying documents in a safe place and carry only what you need when touring. Be particularly conscientious in popular areas which are commonly frequented by pickpockets.
  • Unless required by local ordinances, keep your passport, along with most of your cash in the hotel safe.
  • Review your bank's ATM and credit card foreign exchange fees, and credit card policies. Some banks reduce or waive fees. The best conversion rates are typically had by getting cash at local ATMs. Conversely, currency exchange services at the airport and your hotel often have the most expensive rates.
  • When traveling abroad, check with your bank to see of you can buy currency before you fly, preferably in small denominations (you can exchange it back when you return). There is nothing worse than landing after a red-eye and not having a few small bills for tips, luggage carts, or a cold drink.
  • Coins, unlike paper currency, can not be exchanged when you arrive home. Keep these to add to a small coin purse you bought during travel make a special gift for a child!
  • Familiarize yourself with the currency conversion rates so you know how much you are spending for meals and other items. Use one of the numerous currency apps available for installation on your mobile phone.

Check current monetary conversion rates here: