Travel Money Tips

Before you leave home, make sure you have completed the following travel money checklist…

You are aware of the current conversion rate.

You have checked the amount left in your debit card or have checked what your credit card limit is.

You have checked to see when your credit or debit card expires so that your cards remain valid the entire time you are away.

You are aware of the hidden costs and foreign ATM/cash point machine fees charged by your bank or card issuer.

You plan to pay off credit card cash withdrawals as soon as possible as there is usually no interest free periods and a higher rate of interest charged on these types of transactions.

You are aware of the practice of dynamic currency conversion used by many retailers.

You have at least two different sources of funds available at all times in case one of these fails on you.

You have visited your credit card issuer's website and followed the link to the 'international ATM locator' to check you will be able to withdraw funds from the country you are traveling to before you leave home. This is especially useful when traveling to remote or third world countries.

You have made separate records of your card or traveller's cheques and have left these details at home or in a very safe place in case your travel credit or debit cards are lost, damaged or stolen. The quickest way to do this is to photocopy the front and back of your cards to ensure you have all details, including the security numbers on the back of most credit cards. This will assist you in replacing your cards quickly.

You have visited your bank branch to request a copy of your statements for the last three months and a reference letter confirming your banking history and status as a customer of their institution. This will assist you with setting up a bank account if you are relocating to another country and may be required when entering countries such as the UK on a working holiday visa to prove that you can financially support yourself