Getting/Transferring Money Abroad
If you’re planning on getting traveler’s checks, don’t waste your time or money. Nobody takes them anymore, and you have to pay sometimes exorbitant fees to get them changed into cash while abroad. The easiest and best way to change money is o simply use your ATM card. You get the daily exchange rate without a mark-up by a currency exchange company. However, do beware of bank fees. You may pay a fee at both ends - from your home bank and the one
you are trying get money from abroad. Do yourself a favor and talk to your bank before leaving - sometimes banks can waive certain international fees for a limited period if you talk to them in advance. And also, make sure you let your credit card companies know you will be abroad. Many of them now have theft protection plans where they monitor your spending, and if they see (or if the computer sees) spending out of the ordinary, they will close the card. I’ve known a number of people this has happened to, and it really is simple to fix ahead of time by letting them know. Also, make sure you have numbers you can call FROM your destination (ie a US 1-800 number probably isn’t helpful) in case your card gets lost or stolen…. Although these numbers are readily available on the internet, sometimes it takes some surfing ot find the right one, and you don’t want to be having to surf the net while you’re in panic mode because your wallet or purse has just been stolen.
And finally, you can minimize those bank charges by being careful with your planning. You don’t want to have to get money out every day. But you also don’t want to be carrying tons of cash on you as you explore foreign grounds. Think carefully about how much you legitimately need for the next 4 or 5 days, add a little to it, and get that much. And never, ever, carry all your cards, cash, and id on you at once!
Ok, I hope all this was helpful. I just think its best to plan for the worst, and hope for the best!