Your stress-free family travel guide
by Rhea Seymour
Money matters
You may be hard-pressed to pay for that lemon and sugar crepe in Paris if your wallet is lined with U.S. dollars instead of Euros. Carrying a combination of cash, your bank card, credit and traveler’s checks is probably the safest way to ensure that you won’t be caught without any money. Try these tips:
Have cash on hand
If you’re traveling outside the U.S., consider changing a small amount of money in the local currency at a bank before you leave to pay for taxis, food and incidentals. Visiting a currency exchange bureau as soon as you arrive is also an option but you may pay higher exchange fees or commissions there than at a bank. Keep in mind that carrying a large amount of cash can be risky since you have no recourse if it’s lost or stolen.
Try traveler’s checks
While declining in popularity, traveler’s checks can be exchanged for cash at banks, exchange bureaus and many hotels and they’re easy to replace if lost or stolen. Remember that you will be charged an exchange fee when you cash them in.
Carry bank/debit cards
At your destination, using your bank card or debit card is convenient and usually offers a good exchange rate. However, for the convenience of withdrawing cash at machines in airports and other tourist hubs, you’ll probably get a less favourable exchange. Warning: high user fees on some bank cards may cancel out the benefits of a good exchange rate.
Don’t leave home without plastic
Credit cards are convenient and safer than carrying cash. They also offer good exchange rates and sometimes other travel perks, including car rental insurance coverage. "Keep in mind that some credit cards now charge fees for foreign currency transactions," says travel agent Kari Thomas. "Check with your credit card company before you go to find out if they are charging a percentage per transaction. And don’t forget to advise them that you’ll be out of town so they don’t freeze your card while you’re away because they think it’s been stolen."
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