Tuesday, March 2, 2010, AM | 1 Comment
When you travel overseas, you must keep your money safe if you do have to take large sum with you. Instead of cash, experts advise to carry traveler’s checks, the most frequently used are those issued by American Express. Don’t completely rely on cash. You carry credit cards in the United States, frequently more than one I might add, so why not use them overseas as well.
In any case, to keep your money safe, you can follow certain straightforward tips that can save you a lot of hassle and headaches.
- Take only what you need
You might not need a whole lot of cash in one day. So when you go out of the hotel, take only what you need for the day and leave the rest in a hotel safe or another secure place.
- Split the money
If you are traveling with family or friends, split the money and each will carry a small sum instead of one person carry the whole amount. The likelihood that misfortunes will strike more than one is far less.
- Money belt or secure inside pocket
Many experts suggest to use a money belt or secure inside pocket. In that case, carry a money belt that can be worn comfortably for the rest of the day, and can be accessed easily and without bringing attention from strangers.
- Don’t exchange money at the airport
That’s the worst you can do. Airports are often where hustlers hang around looking for unsuspecting travelers. Instead try using your credit card. You might get a better exchange rate.
- When paying, always take out small amount
When you are out in the open and buying something, always pay from a small stash of cash you keep.
- Avoid strangers for converting money
To avoid being hustled and swindled, always use a reputable currency exchange in a bank or hotel.
In a Nutshell
Whenever I travel overseas, I use credit card for more than $20 purchases. Many experts agree that you would get a better exchange rate that way. Traveler’s checks is another safe way.
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