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Getting Cash Abroad | Best Way to Exchange Currency When Visiting Another Country

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Hi there, it's Ernest from Trip Astute. Today's topic: getting cash abroad.

(light chiming music)

Most people know that I prefer using credit cards when traveling, especially

internationally. However, there are times when cash is the only option, and in

those cases, getting cash when you arrive in the country makes a lot of

sense. You've probably seen the currency exchange booths at the airport.

They look pretty convenient. You walk down the terminal and you see a little booths

with a bunch of exchange rates and you think, "wow that's an easy way to exchange

cash." Well, there's a catch. The exchange rates and fees of those booths are

generally pretty unfavorable. That's why I avoid them at all costs. A better way

to get cash when you're traveling abroad is to use the ATM. Even if the ATM

charges you a transaction fee, it's generally less than what the exchange

boosts will charge you. Plus you're getting a much better exchange rate when

using the ATMs. Still you may want to check with your bank to see what the

fees are. I've included a link below that shows some of the fees for the major US

banks. If you're really savvy, I would suggest finding a debit card that doesn't charge

you a fee, or that reimburses you for any overseas fees. One such product is the

Charles Schwab High Interest Checking Account, which includes a debit card that

reimburses all ATM fees, both domestic and international. it's a great card to

carry, and I usually load it up before my trips overseas. What I usually do is

actually carry my normal banking debit card and leave it in the hotel