9. Money, money, money

Made a run to the bank yesterday. It ALWAYS takes longer than I plan when I am going to talk with a banker. Yesterday was no different. However, it makes me think that there are some things I do to prepare for an international trip. So, here you are ... my general money tips (not necessarily for a tour).

Traveler's Checks
Back in the day I carried traveler's checks. To be honest, there are a lot of stores that won't accept them or require you to spend 1/2 of the value of the check (the last time this happened to me I was in Paris) before they let you use them. International banks will perform the exchange but it has to be during regular working hours and our holidays aren't necessarily their holidays. You might be unpleasantly surprised (and without funds) if your temporary stomping grounds are partying along with you. Recently, the bed & breakfasts that I've stayed in won't accept them. So the answer is, I don't carry them any more unless I'm going to a country where ATMs aren't readily available.

Local Currency
1. If you are traveling on your own, it is a good policy to have at least the equivalent of a cab fare + one night's hotel fee with you in local currency when you land. For this trip, Ferrell has given us great advice on what to carry and when.
2. There was a time I would visit the bank downtown in order to exchange money. Now our international airport has an exchange company in the international terminal with fair rates. If you keep your receipt, they will give you a discount to exchange up to the amount you changed with them before leaving. They get a cut but it's not huge and in my book it's worth the convenience.

Debit/Credit Cards
1. As the banker reminded me yesterday, use debit cards for cash and an internationally recognized credit card for purchases. Keep them with you in a secure place (not in a wallet or in a fanny pack).
2. Notify your bank or card company where you will be. Give them dates and the countries. Yesterday, I also notified my bank that I'd be stopping in New York City as well as Turkey, Grecian isles and the Greek mainland. If these institutions see "unusual" activity on your card, they might try to call you at home to confirm that the expenses are valid. The problem with that is you aren't at home and without your verbal approval they put a stop on your card. Not a fun moment.
3. ATM performance can be spotty. I experienced this first hand in Jerusalem and Madrid. Again not a fun moment. You have the funds but you can't access them. In Madrid, I started pooling all the coins and small bills I had to pay for our last night of lodging. Eventually the ATM worked but I think I still temporarily borrowed some euros from my younger niece (thanks Andrea!) so we could check in. Which reminds me ...
4. ... If you are staying in smaller hotels or bed & breakfasts they may want the full fee upfront, even if it's multiple days. You need to make sure that your ATM cash limit is raised to accommodate this amount.