Foreign Funds

There is one question that always comes up when clients book their foreign travel, “how will I pay for things once I get there”? Depending on the destination, there are several options for US travelers. 
Travelers checks seem to be used less, as more and more people opt to use their bank debit cards with automatic teller machines to obtain foreign currency. Most ATM machines throughout Europe and Asia work the same as in the United States. It is best to check with your bank before you travel to find out what fees will be accessed to your account for foreign withdrawals. Once on the trip, look for bank ATMs as they have less fees than other types of ATMs.

Several European countries are now using chip and PIN cards. This means that the ATM or credit card has a microchip inside that authorizes transactions. Some automated machines simply do not accept cards that don’t have the chip. This is most common in parking garages, toll booths and some train stations. It is best to have a PIN assigned to your card by calling your bank or credit card company before you travel to avoid any problems while abroad.

Most travel agencies and banks offer preloaded debit cards. You can choose how much you would like to load the card with, and not have to worry about going over your limit. Of course most credit cards are accepted in other countries, with the exception of Discover card which is only used in the US. It is always a good idea to notify your credit card company of any upcoming travel so that they do not block your card for unusual activity. You may want to bring two different credit cards along in case one has a problem.

Nineteen European countries, and more than 330 million people are currently using the Euro. This makes it easy when traveling to more than one of the European Union countries using the Euro because you no longer need to convert money each time you cross a border. Several European countries do not use the Euro, these include the United Kingdom, Norway, Sweden, Denmark, Switzerland, and Croatia. In those destinations it is best to use your debit or credit card.

Places like Mexico and the Caribbean accept the US dollar. I always recommend to my clients to bring along small bills as it is difficult for stores and restaurants to break larger bills, and you will avoid getting a lot of change in the local currency.

Be sure when traveling to keep your cash and credit cards in a safe place. It is a good idea to separate your cash so that you are not bringing out a large sum of money when making purchases. Ladies should make sure they have a purse with a zipper and wear it in front if possible. Men should place their wallet in their front pocket to avoid pick pockets.

I hope these tips make your next trip easier on the wallet. For more information on Complete Travel and Cruises, contact us at 847-966-0800 or visit our website at www.completetvl.com .