MONEY--part 2
 

Hello
Just wanted to thank you all for your help with regards to my BIG TIME BUDGET:) This trip is supposed to be our way of "roughing it". My next question or concern is what to do with the (little) money that I have. I dont want to carry alot of cash. Are travellers cheques recommended??? Or should I rely on instant tellers??? Any advice from anyone who has done this kind of traveling before is greatly appreciated. Also how much do u suggest i have on me at all times??? and American money is it openly accepted, as ive heard it isnt the most welcomed currency overseas.
Thanks everyone:)

Everyone has a theory on this, but here's ours. I like travelers checks, particularly for back up. I've had ATM cards not work-sometimes the machine, sometimes the bank, sometimes for operator are the problem. Don't buy Euro travelers checks they are hard to get anyone to take--at least in France. We also got the AAA Passport cash card--sometimes it worked and sometimes it didn't. Some cards have limits on withdrawals per day. M.

I am probably living "dangerously" (read stupidly), but when I've gone to Englan, France, Austria, the Netherlands, and Belgium, I bring US$100, my credit union Visa (it doesn't charge extra fees for foreign use), and an ATM card. I get pounds, Euros, whatever, at the airport, and go from there. I think I last used travellers check in the 80's. I don't know well they're accepted now, but I've never had a problem with my ATM card (she wrote with her fingers crossed!)

*ATMs and credit cards give the best exchange rate.
*Not all establishments accept travelers checks. (Bring them only as a backup or "just-in-case" money.)
*Don't bring US dollars. Most places will not accept them.

Hi
ATMs and credit cards do give good exchange rates, but there are also transaction fees to consider.
Ditto transaction fees for travelers checks which you pay when you buy them.

No point in going to an ATM every day, each time could be lead to a fee.

Even on a budget, the difference between the various transactions probably won't add up to more than $20 of your whole budget.

What works for me is using credit cards as much as possible, taking along one or two travelers checks just for an emergency (I don't use them, take them home, and deposit them into my bank account), and an atm/debit card for cash.

Some people have said that you can try using the debit card to purchase an item and ask for cash back at the same time, this may offer a good exchange rate. I have not found that many small shops are willing to give me cash back.

I stopped using traveler's checks when I was being charged $5 per check when cashing them in an Italian bank. Occasionally I have had an ATM card rejected by one machine, but it was always accepted by the next one.

For our two weeks trip, it cost us a total of $9 ($3 each time) for using the ATM (Bofa)..big woopy deal! Most of the time, we used our credit cards. So don't worry, carry two credit cards each(put the other two in the hotel safe, for emergency) and an ATM card each person. You'll be fine. Make sure to exchange money before you go so that you don't have to worry about trying to find the ATM for the first few days.