Best Tips for Taking Money Overseas

By on April 18, 2016

There are a lot of people travelling internationally either for pleasure or for business and such people should always remain aware of the best tips for taking money overseas. There are many people who also ask for good advice on this topic. Some of the most common questions that people ask related to this issue include:

  • How much money should be taken?
  • Should the cash be exchanged for foreign money before leaving home?
  • How to avail best rate of exchange?
  • Are travelers cheques required in this world of technology?
  • Can ATM, credit cards and debit cards be used in international countries?
  • How to keep cash safe?

Tips for Taking Money Overseas


Try to take minimum amount of money to the first country where you plan to travel. This will give you the access to making payments for taxis, tips or for grabbing a quick lunch or dinner when you arrive at that place. This goes especially for people who visit places for business meetings. You should also keep some cash that might be required when you depart from the country as there are exit fees charged at the airports of many countries. Keep some cash in small denominations as food vendors and cab drivers do not accept quite large bills. This type of cash can be availed very easily as there are a number of banks that provide currency exchange facility to their customers.

Debit or credit cards

You can easily minimize your cash needs by making payments using your credit or debit cards. Additionally, you will also receive a very constructive conversion rate as card issuers make use of only one exchange rate that is generally very close to wholesale for processing transactions. However, you need to remain aware of the fact that while you might receive a constructive exchange rate when you use your credit card, there are a number of credit card issuers who charge a percentage fee of two to three percent. This percentage fee can always make a very huge difference on items with higher price.

Travelers cheques

Traveler’s cheques are insured and they can easily be replaced if stolen or lost. Now the question is how many travelers’ cheques should you carry while travelling? This totally depends on the place where you are travelling. There are many cities where you will find a good chain of ATMs where it is very easy to obtain cash. Nevertheless, in countries that are less developed you might be compelled to rely on cash and travelers cheques. When making up your mind to carry travelers cheques, make sure to purchase them denominated in your travelling country’s currency. This is a method that will surely protect you from any sort of fluctuations in the rate of exchange.


Now-a-days, ATMs are found even in the remotest places of the globe and they have made it very easy for the travelers to get cash as and when required, anywhere. The Visa/Plus Network and MasterCard/ Cirrus Network each possess approximately 530,000 ATMs all over the world. There are even some major networks that list all the ATM locations region by region on their internet sites. Both Visa/Plus and Cirrus/MasterCard Network possess machines in not less than 100 countries. At the foreign ATMs, cash is normally dispensed in local currency and it is then debited from the account in the currency of your country. These are some of the best tips for taking money overseas.

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