Help With Changing Your Money When Touring

You are going away, and you’ll be changing money. What is the best way to do that? The quick answer is to use the ATM. REALLY! Almost anywhere in the world now, you’ll find ATMs.

Try to check in advance before you go to know whether to take cash, traveler’s checks, ATM or credit cards. Traveler’s checks aren’t used all that much anymore, but they’re a good backup in case something goes wrong with the credit cards and ATMs.

If you cannot get money out of a cash machine, it doesn’t necessarily mean that there is a problem with YOUR card. Those electronic transactions have to be submitted and approved and there may be communications problems in less developed counties; their readers might not read your card; or (and this has happened) the bank ATM has run out of money!

You may hear that changing money, at least a little before you travel is a great idea. That’s not essential. There are almost always banks or money changers at the airport, and ATMs are everywhere, well, almost everywhere. There are a few countries that won’t accept ATM cards from certain other countries. You do need to check this out. You can find out in government advisories about each country.

If you’re going to drive across the border to a country with a different currency, you should check to see where you can change money and if they’ll take some other currency, like that of their neighbors or Euros or Dollars.

If you think the exchange rate is going to change effectively, and you’ll get a better deal changing money ahead. You might want to give it a try. It’s hard to time those money markets though.

The other reason for changing money before you leave is if you want to familiarize yourself with that funny looking currency. Even if you wait to change money on the road, do try to familiarize yourself with the local currency so you don’t mess up too much with it. If you change your money once you get to your destination, it’s best to familiarize yourself with it in the privacy of your hotel room and not in public.

You will mess up sometimes. Sometimes those little coins will be worth a dollar or two or five, or that 10,000 Whatever note could be worth about five dollars! So try to get an estimated idea of what those coins and bills are worth. We have found that a lot people are helpful sorting out the right change, but you should always be on guard for a scam artist that might attempt to charge you too much because you don’t figure out how much you’re paying quickly enough.

If you’re changing cash, change money only at dependable or official locations. Black market money exchanges could get you in trouble at worst or be scams where you’ll lose money. If you do change money at money exchangers, balance the exchange rates and commissions carefully. ATMs are much more straight forward.

You should prevent buying more foreign currency than you actually need. You will lose money if you need to convert back and some countries restrict the amount of their currency they allow you to take out when leaving the country.

If you are touring on a prepaid tour, you won’t be changing money as much. Also, you may be able to pay bar bills at lodges and hotels in dollars or with your credit card. So check ahead, take credit cards, ATMs and travelers checks and do not worry, you will find plenty of places to change them.

This travel tip is brought to you by Stuart H, the specialist in Central Coast accomodation and NSW Kims Beach Hideaway at Toowoon Bay.