Taking money abroad?

David Lindon

Golden Master
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15,233
I'm heading to the states this summer for 4 weeks and normally I'd just take cash or travellers checks but due to the length, I'm worried about taking that much cash with me so I need some advice, What form or money do you guys normally take with you?

Credit cards - I just checked and they charge 2.99% commission for foreign currency charges but I guess they are safer that cash.

Cash - Accepted everywhere but unsafe, and you could run out

Travellers checks - Safe but you are restricted as to where excepts them, plus a commission I believe.
 
A prepaid card is probably your best bet and I would recommend taking a look at FairFX... They don't charge any fees, it's mastercard so most places accept them, they offer the best exchange rates and you can top up online so it can be done while you're away direct out of your bank account (With internet access, of course); Travel Money Card - Best Exchange Rates - FairFX Currency Card

We recently used FairFX while on holiday in Florida.

It's a £10 application fee, however visiting via moneysavingexpert cuts the fee: http://www.moneysavingexpert.com/travel/cheap-travel-money#prepaid
 
You could possibly use your debit card if you have a checking account - I'm not sure if you can overseas or not, but worth a look in to. It's much safer than carrying around a pocket full of cash or travelers checks.

Your best bet would be a credit card, though, so long as you pay it off before the company starts charging you the obscene amounts of interest.

My advice would be to keep some cash on you, but use the card (debit or credit) for any bigger purchases.

Where are you going to visit over here in the states?

Edit - Just looked into the FairFX card Danny posted, that sounds to me like a very good option to consider. Go through the second link he posted to get the registration done for free. It seems to me like it'd be worth it.
 
That FairFX card does sound nice.


I'd also look into different credit card companies. My Bank's visa had a fee on, but My CapitalOne did not. It might be worth looking into finding a credit card to open just for the trip (and close it when your done). Where are you going anyways?
 
to be honest.

I've always taken a couple of hundred in cash, that covers the airport, a book some food etc, and a few meals out for the first few days, then used the cash point for the rest.

the banks give the same rate for changing money, and charge roughly the same commission as any other bureau du change.

so why bother taking pre-paid plastic, that you could loose, and might not be able to use everywhere or cheques that you could loose, have to get remade etc.

you may as well just take your card. (which you'll probably be taking anyway).
 
i guess whatever option i go for i get fees and a commissiin as me bank charge me fees for using my debit card too
 
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