How to handle money abroad

Money, it makes the world go around. Which can be a problem if you’re visiting an unknown country. How much money will you need? What sort of money is used? Is there a crime risk? There are so many questions when it comes to money and we’ve answered some of the more basic ones below.

Bought a travel wallet :(

How much money will you need?
When you’re travelling, especially if you’re backpacking, always be aware of how much money you’re carrying on you. Whilst you’ll be fine with a card in most European destinations, you may choose to carry cash to avoid potential bank charges or situations when an ATM isn’t nearby. Before travelling research the destination you’re visiting and estimate how much money you may need each day. Try using this world trip calculator, but also rely on fellow travellers for practical advice.

How to best convert your money?
You don’t need to be a currency trading professional to get the best deal when converting money, but it helps to have some basic knowledge. Pay close attention to all the foreign exchange brokers in the area; including supermarkets, Post Office, specialist providers and even web-based brokers. Who is offering the best rate? Are there any hidden charges (e.g. postage) that you want to avoid? Also work out how much money you’ll need to convert based on the destination you’re visiting; you may get a better deal.

How to beat crime like a pro?
No matter where you’re visiting, even if it is a safe European city, be vigilant when handling money. Make sure you carry money securely on you, never leave it in a bag that a thief could grab; you may even want to use cards for extra protection. Most banks will require you to tell them that you will be travelling so that they can setup adequate safeguards for you. Make sure you have your bank’s contact numbers to hand in case something does go wrong.

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