How to Organize Your Travel Money
3 travel money tips for your vacation

3 travel money tips for your vacation

Get your travel money in order before you take your trip abroad.

Planning an adventure in Australia or a Vacation in Vancouver? Make sure you know how to access your money once you arrive. Don’t waste time hunting down exchange offices or banks to make hasty currency exchanges. Or worse — don’t lose vacation money to exchange fees. Read our top three travel money tips to ensure you’ve got your money situation under control. Compare travel insurance quotes online

1. Know the currencies you’ll be dealing with

You might think you’ll be OK using American dollars anywhere you travel — but USD isn’t accepted everywhere. Even in countries that do, you’ll pay more in fees and the exchange rates. It’s always a good idea to exchange a bit of money before you leave the country — enough to get you a taxi or pay for immigration fees. If the country you’re traveling to uses rare or exotic currency, it may be harder to get at your local bank. Check ahead of time.

Once you arrive, hit up an ATM or exchange office to get the local currency. Though you don’t want to exchange all of your money — wads of cash can make you a target of theft. It’s best to rely on credit, debit and travel money cards to pay for bus or train tickets, hotels and big meals.

Check the exchange rate between the local currency and the American dollar before you leave for your trip. Consider a money transfer services like Travelex or World First. You’ll get a good rate, and you can have your money waiting for you at your destination.

What’s the deal with Europe?

Much of Europe uses the euro, however not all countries have jumped on board. Countries that are part of the European Union, but have their own currency are:

Travel money card comparison

Rates last updated April 21st, 2018
Name Product Foreign Currency Conversion Fee Overseas ATM Withdrawal Fee Overseas Cash Advance Fee Annual fee Product Description
Barclaycard Arrival Plus® World Elite Mastercard®
0% of transaction value
$10 or 5% of the transaction, whichever is greater
$0 annual fee for the first year ($89 thereafter)
Enjoy 40000
bonus miles after you spend on purchases in the first 90 days — that's enough to redeem for a $400 travel statement credit toward an eligible travel purchase.
Simmons Bank Visa® Platinum
of transaction value
The Simmons Bank Visa® Platinum Card offers multiple perks, including one of the lowest available APRs on the market.
Chase Sapphire Preferred® credit card
0% of transaction value
$0 annual fee for the first year ($95 thereafter)
Earn 2X points on travel and dining at restaurants.
BankAmericard Travel Rewards® Credit Card
0% of transaction value
Ditch the restrictions of typical airline rewards cards. Any airline, any hotel, anytime. No blackout dates.

Compare up to 4 providers

Travelex Money Card

Why we like: Travelex Money Card

Load GBP, EUR, CAD, AUD, JPY or MXN onto this prepaid travel money card and use it at millions of locations worldwide.

  • Not linked to your bank account for safety.
  • Convert currency with a 5.50% Foreign Exchange Fee
  • Contactless payments
  • Reload, withdraw, or replace your card for free.

    2. Plan for back up

    When you make your vacation budget, chances are you didn’t tack on extra money for an emergency. Tourists are the target of theft in most any country you’ll travel to. Always be aware of where you store your money, cards and travel documents, and avoid carrying too much cash on you at once.

    In the case you do run into financial problems, have someone from back home on alert to send money quickly. Money transfer companies like Western Union and Travelex can wire you money fast, either directly to your bank account, or to a pick-up location.

    3. Accessing money while overseas

    While South Korea is moving towards a society that only accepts plastic, places in rural Vietnam and Thailand hardly accept credit cards at all. No matter where you travel, find out the best way to pay your way. How do you decide the best way to pay while abroad? Check out our country travel guide to see the travel money options for your destination.

    • Cash. Though carrying cash is convenient and accepted in most places you visit, it could leave you vulnerable to thieves and pickpockets. Many countries won’t accept money that is torn, stained or crumpled, so keep your money protected in a wallet. Get cash from ATMs, licensed exchange offices or banks. Don’t rely on your credit card for cash advances unless you have to. Credit card companies charge high fees and you’ll pay interest immediately.
    • Debit Cards. The biggest advantage of debit cards is that you’ll have access to your bank account each time you come across an ATM. Find a card that waives the international ATM fees to save money. You’ll also be able to make over the counter purchases with your debit card wherever Visa and Mastercard are accepted.
    • Credit cards. You’ll have the most purchasing power on expensive items like hotels and flights. Find yourself a credit card that waives foreign transaction fees. Carrying a credit card gives you the added benefit of travel insurance, rewards and discounts, depending on your provider. Cards that offer travel perks and waive fees often charge an annual fee, so make sure the fee is worth it before you bring it along on your travels. If you’re ever in a jam, credit cards also offer cash advances, though we don’t recommend it. You’ll pay high fees and interest rates apply the moment you get your money.
    • Travel cards. The benefit of travel cards is that you can lock in a favorable exchange rate before you leave for your trip. The Travelex travel money card can hold seven major currencies — good for traveling to more than one destination. You’re issued two cards, so you’ll have a back up if your card is lost or stolen. And because it’s not linked to your bank account, you’ll have extra protection.
    • Traveler’s checks. Security is the main advantage of using traveler’s checks. Each check has a unique serial number and can only be cashed with photo identification. Fees are the main disadvantage. Banks charge you to get check and to cash them. You’re better off using a debit or travel card which lets you make cheap or free ATM withdrawals. Traveler’s checks are good for locking in a good exchange rate. So if you watch the forex market, get them while the getting’s good.

    Always notify your bank of where and when you’re traveling. Credit card companies and banks will suspend your card if they detect any activity they think is fraudulent.

    Was this content helpful to you? No  Yes

    Ask an Expert

    You are about to post a question on

    • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
    • is a financial comparison and information service, not a bank or product provider
    • We cannot provide you with personal advice or recommendations
    • Your answer might already be waiting – check previous questions below to see if yours has already been asked

    Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and Privacy Policy.
    Go to site