subject: Buying Foreign Holiday Money Without Your Spending Going Over The Top [print this page] There are so many things to think about when you are planning a holiday to a foreign country. You have to check the weather to decide how to pack. You have to find out whether your electrical items such as blow dryers, laptops, and curling irons will work, or whether you need an adaptor. You have to make sure that you have all of the right travel documents. And of course, you need holiday money!There are lots of different ways to get foreign currency, and it can be difficult to decide which one is the best option. Here are some of the good and bad aspects of each of them.Buying Currency At the Bank Before You LeaveIt might seem that having your money with you when you leave is a good option, but it is also risky, because you could lose it. In addition, you will have to wait in long lines at the bank, and you may have to go to a specific branch, and not all bank branches keep foreign currency on hand for exchange.Buying Currency At Currency ExchangesBecause these booths are omnipresent in most tourist cities, they can seem like the most convenient option. However, they often charge exorbitant service fees. Also, if you are relying on currency exchange booths to convert small amounts of cash many times during your trip, it is harder to keep track of your money, and harder to budget.Getting Cash From ATMsAt first, this may seem like a great idea- you are extracting money from your own account, and it comes out in the currency you need. However, when you add on the exchange rate, the fees that are charged by the bank whose ATM you are using, and the fees that are charged by your bank on top of that, you may be spending quite a bit more than you initially intended.Using Travelers' ChecksAlthough travelers' checks are more secure than carrying cash, and you may get a better exchange rate, they can still be difficult to carry around and keep track of. Even though they can be insured, you wouldn't want to go through the hassle of losing them and having to replace them.Pre-Paid Currency CardsThis option is a newer one, and is, in my opinion, the most convenient and secure. These cards are as convenient to use as credit cards, but without as many fees, and the exchange rate is much better than it is with most other options.You should take a look at all of the options for getting holiday money, but I certainly recommend the pre-paid cards as the best option. Have a great time!
by: Tom Fisher
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