Subscribe Now

travelers today

Home » News

Traveling 101: How To Spend And Get Money While In A Foreign Country

Travelers Today       By    Antranig Dereyan

Updated: Feb 26, 2013 01:17 PM EST

Text Size: A A A

Snow-covered Notre Dame Cathedral in Paris
A tourist boat travels along the River Seine near the snow-covered Notre Dame Cathedral in Paris.(Photo : Reuters)

When preparing to travel overseas, money is a big problem.

Many inexperienced travelers take cash with them, and though that is good to spend at the local airport, it issues arise once in the foreign country.

Using exchange centers is only advisable if one wants to lose a large sum of money, due to outrageous fees and/or poor currency exchange value.

The best course of action is to use credit cards or bank ATM cards.

Though, many websites suggest that not everyone accepts credit cards, for example, small shops, most do. 

Share This Story

However, please remember to inform the credit company of the excursion or the card will be decline--if a company knows the card holder lives in the U.S., but then notices the card is being used in Paris, France, it would bring up a flag of fraudulent use. 

 

The statue
The statue "l'Homme" (Man), 1937, by sculptor Pierre Traverse, is seen at the Trocadero gardens across from the Eiffel Tower in Paris.

ATM cards are much easier to use, with machines practically around every corner, sometimes, even two on one street, but, the same rule of telling the bank where you are going still applies. 

Trip Advisor claims that the exchange rates you get at ATMs are, in most cases, pretty much the best/same rate as you would get anywhere (that is, when in doubt, use your ATM card to withdraw cash vs. the hassle of doing a "manual" exchange at one of the thousands of such places that do this and they would be correct.

Their other piece of advise of only going to to ATMs of either large foreign institutions like Citibank, or major national banks is also true because some smaller local banks will not allow U.S. card holders to use their machines.

Another thing to keep in mind is the country visited, some have a reputation of being "suspicious" and even with the credit card company or bank knowing your whereabouts, they still won't allow the usage of the card.

According to Trip Advisor, Russia is one of those "suspicious" countries and for those planning to go to the 2014 Winter Olympics in Sochi, be warned that in July, 2011, due to Russia being on that list financial institution (FI) may "block" usage of cards. You many be able to temporarily unblock the injunction. But, at the present time, be forewarned that you will likely find debit card usage to be limited to (PIN-based) ATM withdrawals only, i.e. not good at merchants, or for cash advances. So, for sure, call your FI before you go so you do not encounter any unpleasant surprises! 

As for the type of card, Visa and MasterCard are widely accepted, while the use of American Express and/or Discover might cause migraines. 

© 2015 Traverlers Today, All rights reserved. Do not reproduce without permission.
Join Our Conversation

Travel Tips

Lima, Peru

A Travel Guide to Peru: Things to Know

Peru is a cultural hub filled with unique sights to see, amazing cuisine, a plethora of activities, and is definitely somewhere worth putting on your travel bucket list, but there are a few things to know before planning your trip.

Subscribe to our newsletter

Receive the latest travel news, reviews, and more..

Want more Travel?

Most Popular

Viktor Leonov docked on a Cuban wharf.

Kamchatka 43 Dead Trawler: Russian Trawler Sinks Off Kamchatka, 54 Confirmed Dead, What Cased Trawler To Sink?

Kamchatka 43 Dead Trawler – A Russian Trawler off the Kamchatka peninsula has reportedly sunk. The trawler reportedly had 132 people on board. 54 of the sailors are confirmed to have died. While 63 of the people have been rescued, 15 people are still missing.

Nepal Rhino Attacks Town in southern Nepal

Viral Video: Giant Rhino Chases Motorcycles, Injures 6 And Kills 1 In Nepal

Viral Video - Giant Rhino Chases Motorcycles – In Nepal, it is not surprising to see rhinoceros in and around the area. However, one surprising event was when one rhinoceros decided to stray from its natural habitat and started chasing motorcycles.

Man Hands Out $100 Bills To Hyannis Fast Food Workers

International Quit Your Crappy Job Day 2015: 5 Signs You Should Quit Your Job

For those who don’t know, March 31 is known as the International Quit Your Crappy Job Day 2015. All around the world, a number of employees – even bosses – feel unappreciated for their hard work. Some on the other hand simply feel that they are underpaid. So, if you are one of these people, is it high time to submit that resignation letter?

4-year-old Pennsylvania girl leaves home, alone at 3 a.m. just to get a slushie

4-Year-Old Girl Slushie: Pennsylvania Girl Shocks Passengers At 3 A.M., Left Home Searching For Slushie

4-Year-Old Girl Slushie – On Friday, a raincoat-clad 4-year-old girl from Pennsylvania shocked a driver and his passengers after she boarded a public bus alone at 3 a.m. in search of a slushie, according to transportation officials Sunday.

Father and his two sons, five daughters ranging from 6 to 15 years old died from carbon monoxide poisoning

Carbon Monoxide Poisoning Maryland: Neighbors Shocked By Tragic Death Of Father, 7 Kids, Electric Meter Removed?

Carbon Monoxide Poisoning Maryland – Neighbors were shocked after carbon monoxide poisoning killed a father and his seven children in their one-story Maryland Eastern Shore home Monday. The 8 victims of the carbon monoxide poisoning Maryland were reportedly poisoned by accident in their sleep from a gas-powered generator after utility disconnected a stolen meter at their rental home, according to the Baltimore Sun.

Firefighter Falls Through Roof, Gets Intense Support Across US

Firefighter Falls Through Roof: Hospitalized, Gets Intense Support Across US

A firefighter falls through roof and is now in a critical condition after tackling a house fire in Fresno, California, according to the BBC. The firefighter falls through roof when the roof of the burning house gave way, engulfing the man in flames.

Turkish flight diverts to Casablanca due to second bomb threat in two days

Turkish Airlines Bomb Threat: Emergency Landing Made, Second Bomb Threat In Two Days?

Turkish Airlines Bomb Threat – A Turkish Airlines flight made an emergency landing Monday after finding a bomb threat, making this the second time in two days that a flight was diverted because of a Turkish Airlines bomb threat.

South Pacific nations of Tonga, Samoa rattled by strong earthquakes

South Pacific Earthquakes Rattle Several Nations, Small Tsunami Follows

South Pacific Earthquakes – A pair of strong earthquakes rattled the South Pacific nations of Tonga, Samoa and Papua New Guinea Monday. The South Pacific earthquakes resulted in a small tsunami, frightening locals near the epicentre. However, there had been no reports of damage or injuries so far, reports USA Today.

One person killed after two men dressed as women tried ramming a stolen SUV through the NSA gate

NSA Shooting: One Killed, Another Severely Injured, Two Men Dressed As Women Rams N.S.A. Security Gate, No Terrorism Involved

NSA Shooting – One man was been killed while another was severely injured and taken to a local hospital after a shooting occurred at one of the main gates to the US National Security Agency at Fort Meade, Maryland. An NSA police officer who was injured during the NSA shooting was also taken to the hospital.

Find Us on Facebook

travelers today

© Copyright 2015 Travelers Today All Rights Reserved.

Subscribe to our newsletter
Real Time Analytics