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Travel money guide

Compare fees, convenience, rewards and more between three key payment methods.

Traveling overseas involves a lot of planning — and that includes your money.

What is travel money?

Travel money, for lack of a better term, essentially means the options of credit cards, debit cards, prepaid cards and foreign currency — all designed for travel and foreign transactions. Each form of travel money has different pros and cons, so you’ll want to compare and contrast before choosing which’ll be best for you and your itinerary.

Compare travel money options

Compare the fees, convenience, rewards and more between prepaid travel cards, credit cards, debit cards and foreign currency while planning how you’re going to pay for food, souvenirs and other goods on your next trip.

Prepaid travel card Credit card Debit card Foreign cash
Foreign transaction feesNo SometimesSometimesNo
Currency exchange fees Yes — but the rate is locked in Yes Yes Yes
ATM withdrawal fees Sometimes Sometimes Not usually N/A
Currency load fee Yes N/A N/A N/A
Instant reload (no delay) Yes N/A N/A N/A
Worldwide acceptanceYes Yes — except for select countries, like Cuba and North KoreaYes Yes
Chip & pin protection Yes YesYes N/A
Emergency card replacement Yes YesNo N/A
Backup cards Yes NoNo N/A
Mobile application Yes YesYes N/A
Reward points Yes YesSometimes No
Frequent flyer benefits No YesNo No
Promotional interest rates (0% purchases, 0% balance transfers) No YesNo N/A

How to decide which type of travel money is best for you?

Prepaid travel cards, credit cards and debit cards can all be effective ways to pay while you’re traveling. In fact, a combination of the three might be the safest and most convenient way to have all your bases covered. But the travel money you should embrace as your primary payment method depends on your situation:

Pick a credit card if…

  • You travel frequently and want to earn rewards. Whether you’re a hotel fiend, a frequent flyer or just love earning cash back, a travel credit card can be the gift that keeps on giving — as long as you keep spending. Just make sure you have a plan for paying your balance in time.
  • You want a safety net in case of emergencies. Even if it isn’t your primary payment method, keeping a travel credit card in your back pocket can help cover any unexpected expenses.

Pick a prepaid travel card if…

  • You’re on a strict budget. A prepaid travel card can help ensure you don’t overspend, since you can only spend what you’ve already loaded onto the card.
  • You want to lock in an exchange rate. Avoid unpleasant surprises by knowing exactly how much your US dollars are worth from the get-go.

Pick a debit card if…

  • You plan on frequenting ATMs. If you like the feeling of cold, hard cash in your hands — or will be shopping at markets that only accept cash — you should consider a travel debit card that comes with zero ATM fees.
  • You want direct access to your checking account. A travel debit card can be more convenient than a prepaid travel card, since you don’t need to preload money. It’s also ideal if you want to avoid racking up a credit card bill.

Travel credit cards

Browse travel credit cards to find an option with perks that match your travel style — just make sure you have a plan to pay it off.


  • Access to credit. Credit access comes in handy for emergencies.
  • Rewards. Earning cash back lets you have something to look forward to when you come home.
  • Extras. Some cards come with complimentary travel insurance, purchase protection and concierge services.


  • Availability. Some travel credit cards are banned in countries like Cuba, Iran, Myanmar, North Korea, Sudan and Syria due to economic sanctions.
  • Lack of access to cash. You could be charged with hefty fees for using a travel credit card when you withdraw cash at an ATM.
  • Inactivity fee. Some card issuers will charge you a monthly fee if you don’t use the prepaid card frequently enough.

40+ currencies supported

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  • 4.85% APY on USD balances
  • $0 monthly fees
  • Up to $100 free ATMs withdrawals worldwide
  • Hold and convert 40+ currencies

Up to $300 cash bonus

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on SoFi's secure site
  • 0.50% APY on checking balance
  • Up to 4.60% APY on savings
  • $0 account or overdraft fees
  • Get a $300 bonus with direct deposits of $5,000 or more

Free ATM transactions

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  • $50 waivable monthly fee
  • 0% foreign transaction fee
  • Securely move money domestically and globally
  • 5 monthly out-of-network ATM reimbursements
  • Free international HSBC ATM transactions
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Prepaid travel money cards

Prepaid travel money cards are great for budgeting, since you can only spend what’s already on the card — but that could actually be a drawback in the event of an emergency.


  • Lock in exchange rates. These cares allow you to lock in rates so you won’t be surprised by the fluctuating value of your US dollars.
  • Earn cashback. Select cards like the Prepaid Travel Card by Mastercard can earn you some rewards.
  • Use it worldwide. Most prepaid travel cards are either Visa or Mastercard, which are widely accepted.


  • Fees. you may have to pay for loading, reloading, currency conversion, withdrawing cash and more.
  • ATM withdrawal limits. you may have to pay extra for withdrawing larger amounts of money.
  • Not great for emergencies. since you only have a finite amount of cash you may need another source of money in case you run out.
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Compare prepaid travel money cards

If you’re leaning toward a prepaid travel money card, compare some of our favorites before signing up.

Name Product Fee Foreign Transaction Fee ATM out of network fee Foreign ATM withdrawal fee
AAA Visa TravelMoney card
AAA Visa TravelMoney card
More Info
$4.95 per month
More Info
Mango Prepaid Mastercard
Mango Prepaid Mastercard
$5 per month (or $0 with a $800+ direct deposit)
TD Go Reloadable Prepaid Card
TD Go Reloadable Prepaid Card
$0 per month
$0 per month
More Info

Travel debit cards

Many travel debit cards waive foreign transaction fees and ATM withdrawal fees, setting you up for an easy breeze experience — as long as you don’t overdraw your checking account.


  • Fewer fees. Withdraw cash and buy all the souvenirs you want without getting dinged for it.
  • ATM availability worldwide. Choose a travel debit card that’s compatible with the highest number of ATMs.
  • Fraud protection. Your bank can help with damage control if your card is lost or stolen.


  • No cushion for emergencies. If you make large purchases, they could drain your account, which may lead to overdraft fees.
  • Long card replacement wait. If you lose your card it may take up to two weeks to get a new one.

Traveler’s checks

Traveler’s checks were once a widely used form of travel money, but they’re going the way of the dinosaur. You can weigh up whether they’re worth your time below — but we’d advise looking elsewhere.


  • Secure.Traveler’s checks are an extremely secure method to spend money overseas.
  • Safe. They can be easily replaced if lost or stolen.


  • Initial cost. You might be charged a purchasing fee when you first pick up your traveler’s check.
  • Acceptance. Traveler’s checks aren’t accepted as widely as other payment methods.
  • Can be bulky and awkward to carry. Plus, you’ll have to go to the effort of getting them cashed rather than having immediate access to your cash like you would with a card.

Comprehensive guide to using debit cards overseas

Foreign cash

Holding a certain amount of foreign cash provides you with convenience and payment flexibility. Some stops on your destination may be cash-only and having extra on you can provide a smooth transition to wherever your destination may be.

Knowing how the dollar has performed against foreign currency in the past few years and months will enable you to get the best exchange rate for your foreign exchange transaction. Our travel money guides will inform you on some of the ways to access cash and ATMs worldwide.

Is it safe to travel with cash?

Yes! In fact, it’s usually safer to travel with some cash than none at all — though you don’t need to take large sums along with you. To keep your cash safe while traveling, avoid keeping it all in one place. Instead, divide it between your suitcase, purse and other safe places so that if some gets stolen you still have backup cash.

Keep in mind that carrying more than $10,000 at a time could actually be a headache, since you’ll need to declare it on your customs form to explain why you’re traveling with so much money.

5 places to do a foreign currency exchange

The best place to exchange your foreign currency is at your bank or credit union BEFORE you travel.

  1. Bank. Call your local branch beforehand to see if their services line up with what you need. Most nationwide banks, like PNC, offer competitive rates and no transaction fees.
  2. Credit unions. Similar to banks, credit unions generally offer competitive exchange rates and limited or no transaction fees.
  3. But if you’re already in a foreign destination, your best bet is to use a travel debit card to withdraw funds at an ATM.

  4. Debit card. You should be able to withdraw cash from an international ATM with decent exchange rates and fees ranging from 1% to 3%.
  5. Airport kiosks and currency exchange stores should only be used as a last resort.

  6. Airport kiosk. After disembarking from the plane, you can exchange your currency at the airport. But fees are high and exchange rates will be less-than-favorable.
  7. Currency exchange store. You can find exchange stories in most international cities, but again, the fees will be working against you.

Destination money guides

For your next international trip, plan ahead by knowing how much to bring, and which travel money option is best for you. Choose your destination to get the full guide:

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Amy Stoltenberg's headshot

Amy Stoltenberg managed newsletters at Finder, gathering the best articles each week to help subscribers save money and stretch their hard-earned dollars. She also handles the Twitter account, dabbling in Instagram and Facebook too. When she's not on the computer, you can find her exploring Los Angeles with a good book in tow. She studied writing at Savannah College of Art and Design and has been featured on the Zoe Report. See full bio

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4 Responses

    Default Gravatar
    FoxtrotrnSeptember 6, 2018

    My son did some work overseas and was paid in Macedonian Denars. He’s having a terrible time getting this exchanged to US money.
    Where can he do this?

      CharisseSeptember 6, 2018Finder

      Hi Foxtrotrn,

      Thank you for reaching out to finder.

      Macedonian Denar is a closed currency which is a currency that you can only get in the country of origin and that is the reason why it is quite difficult to have it exchanged to US dollars.

      The options that you have for foreign currency exchange are:

      – International exchange kiosks which can be found in airports
      – Banks
      – Online foreign exchange companies such as World First, XE and other similar companies which offer exchange services online

      I hope this helps.


    Default Gravatar
    VinitaDecember 19, 2017

    Can I get dirhams–Moroccan currency–from any Chase branches?

      RenchDecember 20, 2017Finder

      Hi Vinita,

      Thanks for your inquiry. Please note that we are not affiliated with Chase or any company we feature on our site and so we can only offer you general advice.

      Yes, Chase offers international money transfers including dirhams. Aside from using your bank, you can also compare currency exchange companies that you can use to save on your next exchange.

      Best regards,

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