Spring break is near! Is your wallet ready? Traveling internationally requires more financial planning than just booking your flight & hotel, determining your spending money, and letting your bank know that you will be out of town. When you travel abroad you need to consider whether dollars are accepted, currency conversions, whether you can use your credit card, and more. It is important to have a set financial plan before your departure so you can be stress-free and enjoy your vacation. As your local currency exchange in Mount Prospect IL, we have gathered a list of a few tips to check out before you head out!
Leave traveler’s checks at home. Traveler’s checks result in wasted time abroad. The banks often have long lines at slow banks. Cash at ATMs are the way to go.
Use local cash. Often times, Americans will shop somewhere that accepts dollars and believe there is no need to change money. What the sales clerk is not telling you is that your purchase is costing 20 percent more because of the store’s terrible exchange rate. You’re changing money at a lousy rate and would be better off exchanging your money.
Figure out currency conversions. Before getting on the plane it is very important that you know what the conversion rate is at your destination. Download a currency converter app so you can do real-time conversions and make sure that you aren’t ever getting ripped off.
Expect to be shortchanged. At banks, ticket booths, stores, and restaurants – expect that you will be shortchanged if you don’t do your own conversions. Some people who work in local businesses for 8 hours a day every day make their living off of stealing from clueless tourists.
Make sure that you have some US dollars. Even though you won’t want to use dollars for day-to-day purchases, it is important to have American cash in your wallet in case of an emergency. For example, if your ATM card stops working or if your local money gets stolen.
Have more questions about foreign currency? Visit us your local currency exchange in Mount Prospect IL! Here at WSCE, we are equipped to handle all of your foreign currency needs. We use the broker service of World’s Money Exchange to convert dollars into foreign currency. Learn more about our foreign currency services.
