Travel Money

I usually buy a little cash for each country prior to departure, but only enough to buy food and transport for a day or so. I also take Australian cash to exchange on the streets with the money changers - in my experience they have best exchange rates available.  I no longer take travellers cheques.

Mostly we use credit cards and our savings account cards. There are charges for withdrawing cash overseas and these vary between the banks. Credit card providers charge a foreign currency conversion fee of a few percent of the purchase. I like to carry cards from two different banks, in case there is a issue with one bank and funds are not available for a day or more.

I once had a problem in that a savings account attached to a credit card could not be accessed from overseas. I had to use internet banking to transfer cash to the credit card and then withdraw it as a cash advance - obviously not ideal. I now carry a card that only accesses my savings account, just for that reason.

It is important to call the credit card provider prior to departure to let them know you'll be overseas. Otherwise, the foreign transactions could flag a potential card or information theft and they may put a stop on your card.