How to get money while traveling overseas
Every overseas traveler would inevitably have to deal with foreign currencies. Should they exchange money at the local bank or take traveler's checks with them? If so, how much should they bring? What if they are traveling to multiple countries? Must they carry a large stash of traveler's checks or foreign currencies with them? What about exchange rates? Fortunately, there is a simple solution. Bring an ATM (automatic teller machine) card. That's it. No need to buy traveler's checks or carry a load of foreign currencies.Throughout my travels, I have never had any problems withdrawing money from foreign ATMs. In fact, you get the best rates from ATMs because they use the inter-bank exchange rates, which is much better than at the Airport or your local bank. The ATM fee is usually around $1 to $8 U.S. dollars depending on the ATM bank and country. However, I also noticed some banks didn't even charge a fee. Perhaps it was a computer glitch or they had a deal with my bank. I never did find out why but I'm not complaining :)Another added benefit of carrying an ATM card instead of all your vacation money with you is to guard against lost or theft. If you ever lost your ATM card, your bank can easily send you another one to your current city's post office.Unless you are traveling in the middle of the desert, you will probably find an ATM machine in any cities around the world. I was able to withdraw money on a remote island in Vietnam where the power goes out after sunset, or in the isolated city of Tibet.Your local bank's ATM card should work fine in most countries. But to be safe, I suggest you sign up with a bank that has an international reach, such as Citibank. I use Citibank exclusively and never had any problems. Also, there is no fee if you use any of Citibank's ATM locations around the world.As a precautionary measure, I usually carried a photo copy of my ATM card (front and back) incase I needed to report it lost or stolen. I also carried at least $200 U.S. dollars as a backup, since the dollar is accepted almost anywhere.Happy travels.Christopher Lau
About the Author
Chris Lau has traveled extensively throughout Asia and Europe by doing it the old fashion way with just a backpack and no set itineraries. His articles are based on his personal travel experiences. Visit their website at: www.worldcitysearch.com
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