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Diffirent currencies & excess Cash at the end of the trip

Travel Forums General Talk Diffirent currencies & excess Cash at the end of the trip

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2. Posted by berner256 (Moderator 850 posts) 14w Star this if you like it!

I usually get cash from bank automated teller machines with my Visa debit card. My bank in the U.S. does not charge any withdrawal fees; and it also does not charge the usual 1 percent Visa foreign transaction fee, so I get full use of my money. If the foreign bank charges a withdrawal fee (some do not), my bank reimburses me after I return home. I have my bank's app on my smartphone, so I know instantly what the conversion rate was.

Some airports contract with companies such as Travelex to be the exclusive provider of exchange services, including ATMs. Their conversion rates won't be favorable to you. In that case, I use my credit card to pay for transportation to town, then use a bank ATM there. Ask locals about which bank ATMs are better to use. There can be differences (for example, you might be able to withdraw a larger amount in a single transaction).

I always carry at least two debit cards and two credit cards on trips.

I also carry currency (crisp new U.S. dollars and euros) to exchange. The amount depends on the trip and the destination. In much of West Africa and Central Africa, for example, euros are preferred over dollars. Bigger notes (such as US$50 and US$100) sometimes will have better conversion rates.

I anticipate my cash needs before arrival. If I have any left over towards the end of my stay, I spend it all, unless I know that I'll be returning in the near future. I never change money back into U.S. dollars or euros.

It's generally unwise to stockpile currencies. Some notes and coins can cease to be legal tender if new versions are issued. Hope this helps.

[ Edit: Edited on 15-May-2017, at 02:18 by berner256 ]

3. Posted by Julie Bacher (Budding Member 3 posts) 14w Star this if you like it!

Well...it is not easy to anticipate the amount you need for every trip since its different from country to country. Also spending on crappy stuff at the end of the trip can be useless

4. Posted by berner256 (Moderator 850 posts) 14w Star this if you like it!

Like you, I've been traveling a lot (I now spend at least six months overseas each year; and am currently in Cornwall, England, visiting friends). I keep a budget, so I know what my costs are, or can estimate what they will be. For example, on my current 70-day trip (I'm now on the 55th day), I estimate that I will have spent less than $135 per day, everything included (airfares, rail transportation, lodging, a trans-Atlantic cruise, food, admissions, day tours, etc.). Some countries -- such as Poland and Ukraine -- are much less expensive than others (this trip includes the eastern Caribbean, Tenerife, Gibraltar, Marseille, Milan, Austria, Poland, Ukraine, England, Paris and Iceland). You can get an idea of costs by going online to do some research. Having said that, what works for me might not work for you. Best wishes in your travel planning. Happy trails!

P.S. I don't like to waste money, so I never spend on "crappy stuff." If necessary, I'll give some away for a good cause before leaving.

5. Posted by hasbeen (Travel Guru 1260 posts) 14w Star this if you like it!

Quoting Julie Bacher

Hi All,

I do a lot of traveling and I m trying to find a way to get cash in foreign country at lower rates and also a way to get rid of excess cash at the end of my trip. Usually, the bank rates are criminal and exchanging the cash at the end of trip digs a deeper hole in my pocket. Any suggestions?

Quoting Julie Bacher

Well...it is not easy to anticipate the amount you need for every trip since its different from country to country. Also spending on crappy stuff at the end of the trip can be useless

How are you doing it currently?

6. Posted by Sander (Moderator 5088 posts) 14w Star this if you like it!

For me, any leftover money at the end of a trip, is just an excuse to plan a future return trip to the same country. :)

(And with some careful budgetting on the final day, the money left over tends to be around 0.1% of the total money spent in the country in question, which means zero temptation to use services like the one which is about to be marked as promotional here very soon now. Sorry, if your business model was valid, you wouldn't need to desperately astroturf on forums like these.)

7. Posted by Julie Bacher (Budding Member 3 posts) 14w Star this if you like it!

Quoting Sander

For me, any leftover money at the end of a trip, is just an excuse to plan a future return trip to the same country. :)

(And with some careful budgetting on the final day, the money left over tends to be around 0.1% of the total money spent in the country in question, which means zero temptation to use services like the one which is about to be marked as promotional here very soon now. Sorry, if your business model was valid, you wouldn't need to desperately astroturf on forums like these.)

Thanks for your efficient and apt reply

8. Posted by Julie Bacher (Budding Member 3 posts) 14w Star this if you like it!

Quoting hasbeen

Quoting Julie Bacher

Hi All,

I do a lot of traveling and I m trying to find a way to get cash in foreign country at lower rates and also a way to get rid of excess cash at the end of my trip. Usually, the bank rates are criminal and exchanging the cash at the end of trip digs a deeper hole in my pocket. Any suggestions?

Quoting Julie Bacher

Well...it is not easy to anticipate the amount you need for every trip since its different from country to country. Also spending on crappy stuff at the end of the trip can be useless

How are you doing it currently?

Like most other travelers. Trying to anticipate the amount I would need, exchanging it in my country and then spending on useless stuff at the end of the trip

9. Posted by karazyal (Travel Guru 1837 posts) 14w Star this if you like it!

I change money as I need it when overseas and not thousands of dollars at once. Like the previous posts I always have a couple debit cards for cash and always have credit cards for emergencies or maybe buying flights. If I have to use an ATM for cash I do take out the maximum so I don't pay big fees for small withdrawal amounts. But never a huge amount the day before I fly out! For me US hundred dollar bills (probably euros and UK pounds too) are easy to change in most countries.

I try to spend down the local money so there is less to exchange on the final day. Money from a country I will soon visit again I don't mind bringing a little bit back home with me. Some odd currency from a country I may not visit again (or not in the very near future) I will take the hit and change at the most convenient location before flying out. So far, I haven't found any different country giving better rates than the country I depart from.

For me, best is to not change a huge amount all at one time and change money as I need it! If you have a piddling amount of cash or coins buy something at the airport or drop it in the poor box!

10. Posted by karazyal (Travel Guru 1837 posts) 14w Star this if you like it!

Research will determine how best to change money for a particular country you intend to visit. For me I usually change my dollars in the country I visit and not in a different country. Research will tell you if there are bank money changers available at the airport for the hours you arrive. Research will tell you if there are ATMs available too. If I get a slightly lower rate at an airport money changer that rate (my thinking) is still better than changing my money back home to a foreign currency. If you think the rate is really lower than what you can get in town just change enough for first day transportation and other spending requirements. You can hunt up the "best rate" in town if you want. I don't spend more on a taxi ride to find the "best rate" than getting a slightly lower rate convenient to where I am staying.

Google search will give you current rates vs what you get at home or in a different country. Some country's rates change often - up or down!

When I go on a trip I notify my debit card and credit card providers where I am going before leaving home. Some card providers may suspect ATM fraud when withdrawals suddenly start coming in from overseas.

[ Edit: Edited on 15-May-2017, at 05:47 by karazyal ]