Money and Student traveler
 

My friend's daughter is traveling to Spain to study for 5 weeks. She is very naive. What is the safest/ best way to give her a present of money to spend while there? Traveler's checks in Euros? a gift card from Visa or mastercard? Outright cash? Or any other suggestions for an appropriate graduation present would be appreciated.

Visa gift cards are really great, and can be used at restaurants and hotels. This is so much better than that simply giving someone cash. I have seen so many young travelers exchanging small amounts of money not realizing how expensive it is for each transaction.

Hi gardner,

I agree with Clea.

Check into the Visa gift cards before deciding that they're a good deal; there might be a transaction fee, bad exchange rate, etc. Some regular Visa CC accounts charge 3%!

Another possibility is to just give her good old American cash or check to deposit into whatever account she'll be accessing during her trip -- I hope that she's going to be getting her cash thru an ATM for a checking or savings acct that doesn't charge a transaction fee, since that's the most economical approach in general.

I would suggest a gift of currency, with some of the basic exchanges neatly printed up for her i.e. "this envelope contains the equivalent of $5, $10, $20" etc.

This is a gift we have given to our gang on their first trips and it has heped even the most inexperienced figure out the basics on the new currency.

BTW, a previous poster made reference to checking or savings accounts at ATM's, but they don't work that way; there is only one choice and you must have your PIN keyed up in advance in the US before you are able to access in Europe.

LJ is right, perhaps I wasn't clear: you can access ONE account with your ATM card. If you have a card that you use in the US to access more than one account, you will find that European ATMs will not offer you a choice of account, but will automatically draw from the "primary" account that is associated with that card. But that account can be either a checking or savings account.

I spent four months in Spain and the best way for me to get money was definitly through my check card/debit card that I took with me. People can deposit the money here and you can just go to the ATM's that are just about everywhere. She'll probably have this on her anyway and won't have to worry about keeping track of more than one card.

I agree that ATM's are the way to go when traveling...

But for a gift, if you got 100 Euro in 20's notes (or whatever amount you have in mind) in an envelope for her to tuck into her suitcase/backpack, would make a great emergency fund.

Travelers checks can be a pain to cash and charge card/gift cards iffy to use.

p.s. maybe even put it in a coin purse for her. why i mentioned getting small bills & already in Euro is it's nice to be able to buy a bottle of water, catch a bus (or whatever) without having to hassle with the money issue immediately.

Wow that is very nice of you...
I think Euro notes would be nice. That way she has them and does not have to exchange them. I would not do travlers checks. They can be a real pain to exchange.
Whatever you decide I am sure she will greatly appreciate whatever you give to her. Another idea if you decide not to give money is a book called "Culture Shock Spain". It is a book that discusses the cultural nuances of Spain. I found the Culture Shock series to be informative.
I hope this helps...

Katherine's book idea sounds like a great one (especially since the traveler is inexperienced 'naive).

Travel useful items like a money belt or neck pouch, small daypack, tiny flashlight, etc. might be good too.

I think it depends on how much you intend to give her -- if less than $50, I think getting it in euros would be nicest for a gift and fun to get.

Otherwise, I think those AAA VISA Travelmoney cards would really be better than a lot of cash. Those are prepaid ATM cards, not just prepaid credit cards, so you can get cash at ATMs with no transaction fees. There may be some exchange rate difference (3 pct wouldn't surprise) me, but it would still be less than what you'd pay buying euro, no doubt. I just think it might be more convenient and safer for her to have one ATM card than a wad of cash -- especially since you say she's naive.

my thinking in giving Euro bills, is first off it is a fun gift to receive pre-trip ... and when you step off a plane after a long flight, it is VERY nice to be able to buy a sandwich, or a drink, or catch a taxi or bus, without having to do a money transaction. i really don't consider $100 a 'wad of cash'. you can lose an ATM card too, then you're really scr*w*d.

For a good introduction to gaining the skills necessary to be a confident independent traveler, give her a copy of _Europe Through the Back Door_ by Rick Steves. Along with tips anyone can use, regardless of age or circumstances, there is a helpful section for women traveling alone. Buy the 2003 edition at his site (www.ricksteves.com) or the sites for Amazon or Barnes & Noble. Or at least encourage her to visit the ETBD site to read Rick's travel tips (taken from his books) and the Graffiti Wall where tips are posted by readers.

My daughter is studying in Spain right now. She has an ATM/debit card, travelers checks, and a credit card "for emergency use only."

We deposited money into her checking acct as a gift, she can access it with her ATM card.