What to do with Money while traveling?

Hello World Travelers,

I have had some questions concerning the best use of credit/debit cards and money in general.

Debit Card Suggestions

The best suggestion that I have is to make sure you contact your bank to tell them when and where you are traveling. This usually takes care of any issues. However, it is important to keep contact numbers and info on hand just in case you run into any issues.
For debit cards, make sure that you have a Visa/Mastercard symbol on the front. If you don’t see this symbol, you will need a different card. You also need a four digit pin on the card. If you have a five digit, you will need to change it because many ATMs in Europe still only accept a 4 digit pin.
If you are looking for a debit card just for this trip, one option is a prepaid card. You can find one like the AAA MemberPay Visa® Prepaid Card . I have not used one like this, but I have heard good things.
If you don’t have a debit card and would like one, according to TouristBee.com the top three based on extra fees are as follows:
Bank Name Foreign Withdrawal Fee Foreign ATM Usage Fee Fees for $100 withdrawal Fees for $1000 withdrawal Foreign Purchase Fee
Capital One 360 None None $0 $0 None
Charles Schwab None None $0 $0 None
Fidelity None None $0 $0 1%
I have used Capital One 360 before and had no issues.

Money Travel Tips

Below are some other tips found in the article from TouristBee.com that are important to remember. There are more tips in the article, so it may be worth a quick read.
  • Avoid using ATMs that are not associated with a local bank. This will help cut down on extra fees.
  • Set up a pin for a credit card. It may be necessary to enter a pin at some point on your trip. However, don’t withdraw cash from an ATM with your credit card. They have high fees.
  • As quoted in the article found above, “When using a credit card to make a purchase in Europe, don’t accept merchants’ suggestion to change your purchase currency to your home country’s currency when making credit card purchases. Their question seems benign: ‘Would you like to pay for that in American Dollars or Euros?’ You may think that’s a good thing but it’s not! They can set their own rates and it still counts a s foreign transaction on your credit card. Just answer no!”
  • Don’t be this person walking down the street!
I personally bring two debit cards and one credit card. I hide one debit card and use the other to pull cash from ATMs. This way if one is lost or stolen I still have access to cash. The credit card is used for big purchases such as souvenirs.
I hope this helps everyone. I’m sure there will be some more questions, so please keep asking.
Now let’s go explore!
Theo

The Travel Effect

What is The Travel Effect??

The Travel Effect for me start when I was young. I don’t even remember how old exactly, but I remember many occasions walking with my grandfather around the city of Corinth, Greece. He  would take me to the shops downtown and stop to talk with family and friends along the way. It gave me a completely different view of the world on these walks. One I would have never experienced growing up in the Garden State.

About ten years later…

I had the chance to travel back to Greece with during my senior year of high school. I knew I couldn’t pass up the opportunity even though I had been to Greece often. This time, however, I would get to experience Italy.

And what a difference it was. The stark contrast between the ancient ruins of Greece and the magnificence of Roman art and architecture was not something I had ever anticipated. 

“The world is a book, and those who do not travel read only one page.”

– Saint Augustine

At the same time, the food, the culture, and culture and customs were so similar yet so different. It piqued my desire to provide the same opportunity to as many students as possible. I wish all students could feel and truly understand The Travel Effect.

This blog is and extension of the wish. It is intended to communicate and follow the the adventures of students as they experience The Travel Effect!