Money Tips

Money Tips -

Which credit cards do I need to take with me?

Take your major credit cards; Visa, Master Card and American Express.

Make sure they are not just debit cards, but they are really credit cards with a credit card company’s logo on them. Many locations require a credit card and will not accept a debit card, so your debit cards may have limited use on your travel. You should leave all your local store credit cards in a secure location at home; there will be no need to carry them with you.

Money Tips - Why should I contact my credit card companies before I leave?

You want to notify them of your trip; because they may delay you if they are unaware you are travelling. The unfamiliar spending patterns might cause them to suspect that the card is being used fraudulently and delay your approvals.

Plus they will be able to explain many of the services that they can provide while you are on your trip.

Monet Tips - How can my credit card company help prepare me for my trip?

It can be arrange to pay bills that will come due while you are gone.

They will be aware that you will be making charges from another country.

They will be able to advice you and give you an idea of how acceptable their credit card is in that particular country.

They can verify acceptance at certain foreign locations.

They will be able to see if your pin number will work in the countries you are visiting. They also can issue you another pin number if your current pin is unacceptable to the foreign bank’s system.

They can explain cash advance, ATM, foreign purchase and foreign exchange rate policies and fees.

They can explain any services they offer, such as, extra insurance for your car rental, luggage or purchases. Make sure the coverage offered covers all the countries where you’ll be travelling. Also, be sure to note any other exceptions.

They may need to give you another phone number to call in case you need to reach them. The number listed on the back of your card may not work from foreign locations.

You can find out if they charge a currency conversion fee, so you can find the most economical card on which to place your foreign purchases.

Money Tips - Should I use my ATM card while travelling?

Yes, you’ll have access to cash during your trip so you won’t have to take as much cash with you and using your ATM card can also be a good way to get cash in foreign countries.

The ATM will issue money in local currency.

You should exchange at the bank’s wholesale exchange rate. You may still want to shop around to different banks since some will charge a high usage fee for their ATMs. Even high ATM fees may be less than others will charge for currency exchanges.

Don't wait until you are out of money to go to an ATM, the machines can run out of money or break down.

Money Tips - What should I know about using traveller’s checks?

If the particular brand of traveller’s checks are accepted in the country you’ll be visiting.

How widely they are accepted within the countries you’ll be visiting.

Any fees for purchasing and using the travellers checks.

The travellers check company’s loss, replacement and refund policies.

Money Tips - How can I protect my traveller’s checks while travelling?

Take the same precautions you would to protect your cash. Be sure to learn and follow the procedures required if you lose your travellers checks. You will also need to make copies of your traveller’s checks before you go and keep separate from them the following information.

The serial numbers of the travellers checks.

The denomination of the traveller’s checks.

The date and the location of their purchase.

The phone number to call to report them if missing.