Do you remember Karl Malden advising us all about American Express Traveller’s Checks? “Don’t leave home without them!!”
We were asked recently what type of travellers’ cheques (that’s how it’s actually spelled!) are best for use in Europe. I can only assume that this person hadn’t done much international travel in the past couple of decades. Yes… travellers’ checks do still exist, but there are much more convenient ways to take money abroad.
Here are a few ideas if you see yourself travelling overseas in the next year or two:
- Internationally, Euros and US Dollars (and to a lesser degree British Pound Sterling) are well recognized. You should check where you’re going as to which of these currencies is going to serve you the best. For the purposes of this conversation, we’ll talk about Europe (but most of these suggestions largely apply to Australia, Canada, Japan, Mexico, New Zealand, and most of the Caribbean Islands).
- In Europe, quite obviously, the Euro is preferred over the US dollar.
- You have two choices for paying for things in Europe (travellers’ checks notwithstanding): credit cards, or cash.
Cash
- Cash is not all that necessary – Credit cards are widely accepted in Europe, and you can use them just about anywhere. More on that below.
- Too much cash – The biggest mistake most people make is taking too much currency. I normally buy about 100 Euros of currency before I leave home, and then top up at ATMs if needed when I’m abroad. Even though public safety in Europe is excellent, it not a good idea to be carrying huge wads of cash anywhere – and it’s not necessary.
- Plan ahead – Here at home, at some smaller banks, you may need to call ahead to get Euros, so don’t leave it until the last minute.
- Get small bills – Most often, I find I use cash for tips, so small bills are preferable. I use my credit card for everything else.
- Get used to coins – the smallest printed currency note in Europe is 5 Euros (worth about $6 US) so you need to get used to carrying more change. I take a small zippered coin purse so I don’t lose coins (Bob takes a small plastic container – remember the ones we used to use for camera film)?. And yes… it feels strange at first to tip a tour guide 3 Euros using coins but remember that is our bias – they don’t care.
- Multiple currencies? — The Euro is in use in 19 countries in Europe, but if you find yourself in Switzerland, Hungary, or the Czech Republic (for example), these countries have their own currencies. Do you need cash for each of them? It really depends how long you’re staying. If you’re just there for a day or two, you can get away without it – they will take Euros, you just won’t get the best exchange rate, and they’ll make change in the local currency. You can use your credit card quite easily in any of the three countries I mention above. If I’m finishing a cruise in Switzerland, for example, and am staying on for a couple of days, I don’t usually bother buying Swiss Francs.
- Excess foreign currency – If you’re flying home tomorrow, and you look in your wallet and find way too much currency, there’s a few things you can do:
- Pay part of your hotel bill with local cash, and the balance on your credit card.
- Buy something at the airport (although that can sometimes be a gouge)
- Sell local currency for US dollars to a local exchange bureau (maybe at the airport). You won’t get a great rate, but it will still be far better than what you’ll get if you sell Euros back to the bank at home in the US.
- Save it for your next trip
- If you just have a handful of lower value coins left, most international airlines will take them from you, and donate to a charity.
- ATMs – Cash machines are everywhere in Europe. I look for the ones that are affiliated with my bank at home in the hope that it will minimize the fees. This is example of why you’ll want to talk to your bank before you leave. I also prefer use an ATM that is in-branch at the larger European banks, and avoid those private kiosk machines that you find at convenience stores.
Credit Cards
- ForEx Fees – Different credit cards have different fees for foreign transactions, so make sure you understand that prior to departure. You’ll want to skim the 80-page document that accompanied your new credit card. Or maybe you’ll just want to call them and ask.
- Notify Your Credit Card Provider – Make sure you inform your credit card company in advance of your trip that you’re going to be overseas. There is nothing worse than getting to a foreign country and having your only credit card declined.
- Leave your Diner’s Club card at home: In Europe the two most commonly accepted credit cards are Visa and Mastercard. I take one of each (in case I have trouble with one). Amex is accepted in many places, but not as many as the other two.
- Know your credit card PIN – In the US, we lag other advanced economies in the adoption of chip card readers with PIN (personal identification number). Make sure you know your PIN – many vendors overseas no longer have outdated swiping technology at their point of sale.
- Pay in Local Currency — In Europe, you sometimes have a choice when paying by credit card to pay in US dollars or the local currency. ALWAYS pick the local currency. If you choose US dollars, you end up paying the exchange differential twice.
Here’s today’s travel opportunities
Hurtigruten Central America
Ever wonder what happens to expedition ships between the Arctic and Antarctic seasons? In the case of Hurtigruten, they do some interesting itineraries at the lower latitudes.
Here’s the details:
- SHIP: Roald Amundsen – This is the world’s first hybrid electric cruise ship. She holds 525 people when fully loaded. Here’s a link to our YouTube ship tour video, if you want more details: https://youtu.be/1L_ByDqhGR0
- Board in Punta Arenas, Costa Rica, on April 20, 2022
- Visit 2 ports in Nicaragua, El Salvador, Puerto Chiapas, Huatulco, Puerto Vallarta, Cabo San Lucas, and finish in San Diego.
- 13-days with fares from $4006 per person.
- If you want to get out after 9 days in Puerto Vallarta, fares start at $2869 per person.
- There is an expedition team on board, if you want to go out in the zodiac boats, dabble in the science lab, or go sea kayaking. You could also just sit by the pool.
Who this will Appeal to:
- Those who are unsure about expedition cruising and would like to give it a try without the commitment of going to the polar regions.
- Those looking for a small ship getaway at a great price
- Those wanting to see some smaller, more out-of-the-way places in Pacific Central America
Azamara Caribbean
Azamara is a small-ship cruise line, with a focus on their itineraries. They tend to go to places not often frequented by cruise ships, and the fare includes all drinks, as well as gratuities. For example:
- Round-trip Miami for 12-nights
- Visit St. Thomas, St. Maarten, Barbados, St. Lucia, Guadeloupe, and British Virgin Islands
- Depart February 2 OR 22
- Verandas from $2699 per person. Suites from $3899 pp.
Who this will appeal to:
- People who want to try a small ship line (Azamara ships hold 680 guests when fully loaded).
- People who need some sun
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If you’re planning a trip, I’d love to help! Click here or call 800-876-0168 to get in touch today.
I look forward to hearing from you.
Sue Bradley
Sue Bradley
