On vacation you will need spending money for meals and entrance fees that are not already included, beverages, optional excursions (if not already pre-purchased), gratuities, shopping, and incidental expenses. As a general guideline, aim to bring a variety of means to "pay your way" for your own convenience, and also in case you have difficulties with your preferred method of payment. Use the following currency converter as a reference to see what the exchange rate currently is set at.
Additional Travel Information on Money
Major credit cards are widely accepted but some shops and restaurants require a minimum purchase amount when using them (so they are not appropriate for incidentals such as ice creams, snacks etc). You might consider bringing more than one card, as some outlets may not accept all types. Due to increasing credit card fraud worldwide, be prepared to show identification (ie. your passport) when making a transaction with your credit card. When your card is being processed, do not let it out of your sight.
For the best available exchange rate, you will find ATM (automatic teller machine) cards indispensable. The Plus and Cirrus logos are now displayed at many ATM locations worldwide. The usual care should be exercised when using ATMs; avoid making withdrawals at night or in unlit/isolated areas, conceal your PIN code, and be wary of assistance from seemingly helpful strangers, however polite or well-dressed. In order to safeguard your card details and your transactions, wherever possible use the special security rooms provided by banks for this purpose. A lost or blocked card should be reported to your bank via its 24-hour emergency number for immediate cancellation/replacement.
Before traveling be sure to:
- Activate ATM and/or credit card(s) - if possible, carry at least two working cards.
- Bring your PIN code(s) - consisting of numbers (4-digits), NOT letters (European ATMs have numerical key pads only) - to facilitate use of both ATM and credit card(s).
- Check with your bank to ensure you are able to withdraw cash on your cards abroad (you may need a new PIN code).
- Advise your bank that you will be traveling abroad and plan to use your card(s) for shopping etc. (to avoid fraud, they may refuse charges made overseas unless they know they are being made by the card owner).
- Check also that cards are valid for at least 30 days beyond completion of your vacation.
- Ask your credit card and traveler's check companies for emergency numbers (suitable for international access - not those starting with 1-800 or 0800) to report loss. Always keep these numbers with you while traveling (but separate from cards and checks).
Traveler's checks are not recommended. They are increasingly difficult to use and exchange abroad, especially Euro traveler’s checks, which may incur substantial charges. Generally it is not possible to use checks as cash to purchase items in stores or pay for restaurant meals; they can usually be exchanged for currency at a local bank. On the rare occasions that you are able to use checks as cash, a processing fee may be applied (usually 2-3%). If you do bring a few traveler’s checks for back-up safety reasons (in addition to your ATM and credit cards), we recommend checks from major companies (American Express or Visa), and suggest larger denomination checks ($50, $100) because of fixed-rate service charges per check when exchanging for cash.
There is always a fee involved in any exchange transaction; sometimes it is built in to the published rate; in other places, it can be a percentage fee, or a separate fixed-rate commission charge (in which case you receive better value for money if you exchange larger, rather than smaller amounts). Due to increasing counterfeit, establishments may be reluctant to accept bills of 100 and over in any currency, so you may wish to obtain denominations of 50 or less.