Currency and Credit Card Issues While Traveling Abroad
Published Monday, April 5th 2010While traveling to distant places we must be aware of potential currency and credit card issues that you may encounter as you travel abroad. It is best to check with your travel agent or check out comments made by travelers who have traveled the region that you plan to visit.
It is always wise to have currency on hand for the country that you are visiting that you can usually obtain from your local bank or currency exchange. Although the U.S. dollar is readily accepted, you will encounter individuals and circumstances where it will be refused.
Europe: Most countries accept the Euro as their primary currency. Some countries have their own denomination. Many small vendors do not have the ability to exchange your money for you or have any idea what the exchange rate may be. These include, but are not limited to, taxi drivers, small food vendors, and others who mostly deal with the locals. Exchange kiosks are not located on every corner when you need them. A good place to exchange your money is at the front desk of your hotel or the purser's desk of your cruise ship. They may charge a small service fee.
Depending on the country you are visiting you may encounter even using your credit card. Most readily accepted is the American Express Card. Visa and Mastercard may be accepted but you will need a PIN. Be sure to tell your credit card company where you are going and ask for a PIN. Even with that, you risk being rejected. Again, emphasis is that you need to travel with some local currency to make purchases and for incidentals.
Egypt: The U.S. dollar is only accepted in areas where there are many tourists, such as the Pyramids. Taxi drivers, tour guides,etc. do not accept any currency other than their own as they have issues with exchanging it into their own. They strictly accept their own currency.
China: It may be possible to obtain Chinese currency from a local bank or currency exchange company. When you exchange your American money into Chinese money you will be given a slip of paper that you must hold on to in the event you wish to exchange it back into American money at the end of your trip. This is true no matter where you purchase/exchange you money from. This slip of paper is vital or the Chinese money will become void.
To protect yourself and making sure that the currency you have obtained is legal and binding be sure to purchase it from a bank, currency exchange company, the front desk of your hotel in the city or country you are visiting, or from the purser's desk of your cruise ship.
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