Vacation Money

Travel 101 | December 12, 2011

One question I am always asked is how/when/where is the best place to get cash when traveling abroad and dealing with exchange rates. So, if you’re getting ready to jet-set somewhere fabulous for the holidays I have two words for you: DEBIT CARD.

Debit cards typically end up getting the best exchange rates, so always be sure to bring this along with you. You will need to pay a fee to use a foreign ATM, but even with the fee the exchange rate is the best.  And since you will need to pay a fee for each transaction, take out larger amounts each time.

And last, always be sure to call your bank to notify them ahead of time of when and where you will be traveling. This way they won’t put your card on hold thinking the foreign charges are fraudulent.

For more information on foreign exchange rates, check out these sites: XE & X-Rates