Money Issues and Currency
MONEY AND CURRENCY
Did you know that each country has its own currency and that they have unique names? My favorite is the Quetzal of Guatemala, named after the stunningly beautiful Resplendent Quetzal which is this country's National Bird! So don't forget to save some bills and coins of the currencies to bring home as mementos!
PRE-TRIP STEPS TO PREPARE
- Sign up for online banking and online automatic bill pay.
- Contact banks to notify that you are traveling.
- Research what foreign transaction fees are charged when using cards.
- Install VPN on the device you're traveling with for security.
- Memorize currency exchange rates and/or install apps such as XE.
- Order destination currency from your home bank.
- Bring more cash than you think you'll need, in small denominations.
- Keep emergency cash and cards in a separate place than your wallet in case stolen.
- Photocopy and backup cards, ID, passport and save in safe place in case wallet stolen.
- Consider signing up for one or more peer-to-peer digital payment services (see links below).
DURING TRIP BEST PRACTICES
• Take care with where you are carrying your money, ie: don't put wallet in an open back pocket where it could easily get stolen!
- Getting cash: know ATM machine prompts might be in local language, so know how to translate!
• Use ATM only at real banks and during business hours (tourist ones eat cards, steal identity, and have poor exchange rate).
• Never spend the last of your cash, since you never know when you'll be able get more.
• At businesses, request charges in local currency.
• If you lose wallet report to police report,nearest embassy, and notify banks.
Peer-to peer digital payment services for paying and getting paid (check availability in your destination country)
Other services allow you, family, and friends, to transfer money from bank accounts in your home country to you while traveling in foreign cities.
VPN Services