Again a hurdle to jump!!!
I was planning to take money in 4 forms
2. Travellers Cheques
3. Credit Cards
4. Bank debit card
However, I have just found out that most credit card companies here in the UK charge commission for usage overseas (typically 2.75%), which is ridiculous. This just means that I will have to use the CC as little as possible.
Just wanted to ask therefore: How do u guys handle your finances whilst travelling? What percentage of your expenditure is done on each form mentioned above?
Many many thanks,
Have a look in the General Forum for topics about money
I'd advise you open up a Nationwide flexaccount and get a Nationwide credit card which are visa backed. Nationwide doesn't charge it's customers for use of these abroad, they also give you the money market exchange rate which is usually quite a bit higher than money exchange places! You can access the account from the internet and it comes with an e-savings facility which you get 4% interest on! You can keep your saving in the e-savings account and transfer money bit by bit online when you are away.
I have a Flexaccount and I now only take my debit card and don't bother with travellers cheques, which in most places cost you money to cash. Take a few for 'just in case', but definitely go with Nationwide!
Unless you are going to a very remote area in Central or South America, you should have no problems using your credit card. I prefer to use that for everything and also I like to carry small bills of local currency or single dollars for tipping. Visa and Mastercard is widely accepted in that part of the world...