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Tips on Using Money Abroad

Posted on January 23rd, 2019 by Scott Hershman

For many, experiencing a new culture is one of the most exciting parts of traveling. In order to fully enjoy your experience, it is important that you have prepared for all of the necessary parts of your trip, including finances. If you have never traveled abroad, it can be confusing exactly what to expect in terms of visiting a currency exchange in Elk Grove Village or solely relying on your credit card to complete transactions for you.

Visit a Currency Exchange

Before you go abroad, consider your destination. Some places, such as the Caribbean, allow USD as a form of payment. However, if you are going somewhere in Europe, make sure that you convert your USD to the local currency such as Euros. If you try to do so while you are abroad, you will experience high fees when converting your money. However, it is a good idea to always carry some cash in USD in the case of an emergency. This will also provide you with peace of mind.

Use Your Credit Card

Using a credit card to pay for foreign transactions can be useful, but make sure you alert your bank that you are traveling beforehand. The last thing you want while you are abroad is to be denied a transaction because your bank thinks it is suspicious activity.

Make sure that your credit card does not charge any foreign transaction fees. If you don’t have a credit card that is meant for traveling, you may get charged roughly 3 percent per purchase. This may seem like a small amount, but this number can add up quickly.

Last, but not least, always bring a backup credit card in case something goes wrong.

Before you head off to your next foreign vacation, make sure to visit our currency exchange in Elk Grove Village to convert your money!


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