Test on Exchanging Money
 

Here is today's test on exchanging money

1. Will I pay much more if I exchange currency in the US before I leave?

2. Will I be able to exchange money upon arrival if the ATM's are down?

3. Will I be able to get a cup of coffee at an international airport shoppe without local currency?

4. Will I have to pay the operator of an ATM for withdrawing local currency from his or her machine?

5. Is there any credit card I can use that does not charge me a 1% fee on top of the interbank rate?

6. Do all credit cards charge an additional 2 to 3% for foreign currency exchange?

7. Are there really any banks in the US that provide foreign currency exchanges with no fees?

8. Is this the 21st century?

Answers at 11

Let me a ninth:

The most you are likely to exchange is only say 5000USD, who cares if you can stand to lose out to the tune of $50?

It's worth paying that just to stop these overly pedantic questions.

Unless you are exchanging millions of USD, or even hundreds of thousands, it is not worth worrying about these little details, get on with your lives and just go on holiday.

Ms. Audie asked a question and some replied with wrong information. To some people, $50 is important, to others it is not.

I was trying to add some humour to the situation while providing correct information.

After all, isn't this the kind of thing message boards on travel are for?

If you don't want to take it seriously then take it in good fun. Lighten up.

I heard that traveler's checks are the most convenient, cheapest, most modern and efficient way to exchange money. True or false?

They are for the sites, the arts, the hotels, the restaurants, the nightlife, the people, not how to scrimp and save a few dollars, really it's just not worth the hassle, and for what - a few dollars??

Platzman: True on all counts, in 1980.

This isn't fair.

I wasn't prepared for a pop quiz.

You can't do this to us.

Well my mother-in-law says its true today, and she's never wrong (in her mind). Her ATM card and credit card never saw the light of day on the last trip.

platzman,

hopscotch gave you the right answer. Currently, travelers checks are a worse option all the time.

But let your Mum-in-law do what she wants. Even if she has a poor experience, it will work out somehow.

Keith

The real secret is to get someone else to pay for the trip!

It's way past 11, where are the answers? I want to know how I scored.
1. yes
2. probably, depending on where you arriving and what time of day/night
3. yes, if you have a credit card
4. no
5. no
6. yes
7. Trick question! Quick answer, yes. But if there's no fee, the exchange rate will probably be worse.
8. Last time I checked, yes.

I have to exchange money? I can't just pay in US Dollars?!!

You got #6 wrong...7 out 8 87.5%, grade of B+

#3 you will probably be able to use any convertible currency at most international airports even without a credit card but I'll give you full credit.

Only a B+. Oh well. At least I passed.

airport shoppe?

Yo Teach:

1. Not if your sleeping with a wealthy foreigner who has a bundle in his pocket. And, yes, he's happy to see me.

2. Nobody exchanges money with a depressed ATM.

3. You want a free cup of coffee (anything)...think Janet Jackson, fool.

4. Nobody provides a currency service for free. Nobody.

5. Donald Trump's new Visa...but you can only use it in Atlantic City.

6. Refer to answer #1.

7. Refer to answer #4.

8. Are you trying to figure out my age, again?

ps Totally inspired by Marilyn.

LOL, NYCFS. Give the ATM some Zoloft and wait a few weeks, then try again.

I don't know...I haven't been to school. I pick up what I see....at Heathrow airport I believe I saw a store called ye olde cheese shoppe....so that's the way it's spelled at international aeroports, right?

Actually, I have had money exchanged for free. Over the years, I've stayed in a few hotels that give the published interbank rate with no fee to guests as a bit of a bonus for staying there, but they do limit the amount, usually under $100 and as low as $25.

"as a bit of a bonus for staying there"

Then it wasn't <i>really</i> given for free.