Fellowship Travel International - Specializing in International Group and Individual Travel
Nov 15 2009

How Far Will Your Dollar Travel?

Posted by Heather Terry at 6:08 PM
0 comments
- Categories: 2009 Newsletters

You might feel a little pinch when traveling in certain parts of the world where currencies other than the dollar reign.  The US Dollar has lost 15% since March 2009.  Yes, it makes it less expensive for visitors coming to the USA, and may make US exports more appealing, but it doesn't help when we have to change greenbacks to another currency such as Euros.  What can you do to lessen the impact?

 

Ask your bank if they will waive ATM fees on your debit card.  International ATM's are the best way to manage your money while abroad and are safe, convenient and provide an excellent exchange rate for foreign currency.  Some banks will refund any fees you are charged by other banks, therefore allowing you to use any ATM in the world.  You would not have to pay a service fee normally associated with obtaining foreign currency from a money exchanger.  You will have to investigate this option with your bank carefully though, because many banks do charge a $1-$8 fee for every transaction made in another country.  These fees are charged to both purchases and withdrawls from ATM's.

If your bank will not offer to waive ATM fees internationally, shop around for a bank that will.  You also have the option of using your credit card.  Credit card transactions can incur less charges, and certain credit card companies such as Capital One have no transaction fee at all.  It pays to be informed of all of the fees associated with transactions overseas BEFORE you travel!

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