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Money
There
are a number of ways to handle money
when traveling abroad or domestically. These are ways to have
money available when traveling.
*Use your credit cards to make purchases.
You will usually get a better rate of exchange thru your credit
company than you will when you change money over into local currency
in a foreign country. The off set of this is that most credit
card companies now charge a conversion fee on each transaction.
Check with your credit card company on this matter.
Visa is by far the most accepted card
around the world.
*ATM's. This is a great way to be able to get money out
of your bank account and receive it in the local currency of
the country you are in. No need to stop at banks. Make sure that
you are aware of what your daily withdrawal limit is before leaving
home and make any changes you need to before you go. Also, on
ATM cards there is a name of the group of ATMs that you are apart
of, you will only be able to use the ATMs that are on that system.
Such as Cirrus. If you do not know which group your card is apart
of, ask your bank and then look for the ATMs in the country you
are in with that name.
*Travelers checks. Some may think these
old fashion but we highly suggest you carry some traveler’s
checks with you. In case the banking system goes down, you will
have a back up. This happens more often than what you may think.
Most hotels and banks will change these into local currency for
you. Many merchants will also take travelers checks.
Make sure to keep the copy of the travelers
checks separate from the checks.
*US Cash. It is a good idea to have some
US cash with you when traveling. Limited amounts are good to
have on hand. Usually smaller bills are good. Many foreigners
like nice crisp new money. You can ask for that at the bank.
Also, some countries love to get US dollars instead of their
own currency when making purchases-the dollar is stronger than
their currencies in some cases. Tips in US dollars are great
when traveling to Mexico or the Caribbean. Remember, carry smaller
bills.
*Local currency. It is possible to get
money in the local currency of the country(ies) you are traveling
before you go. Just contact Bear Tracks Travel at 651-429-5244
or info@beartrackstravel.com and we can have it in two business
days for you for most countries.
If you wait until you arrive in your
country, you will be able to change US dollars over to local
currency at a local bank or at the hotel you are staying at.
Banks will give you the best rate of exchange although sometimes
they are not as convenient with times and locations.
When returning to the US, you will be
able to change your money (bills only) back to US dollars, usually
at a local bank before you return. There will be a charge for
this, so try not to exchange any more money than you need to
initially.
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