Do you know the best way to carry money while traveling abroad during a family vacation?

There are many things to consider when carrying cash while traveling with your family. You need to know how to convert the money you do take with you. As well as how much cash you need and are the ATMs similar if you run out of cash. The most important question is how do you keep your money safe while in family friendly destinations in Europe or another country? Today I am sharing the best ways to carry cash while traveling abroad, as well as how to make sure you have access to credit when you need it.

Also, check out my 10 tips for traveling safely! 

The Best Ways to Carry Money While Traveling Abroad

Credit Cards

Credit cards are an excellent choice and a must for large purchases when traveling (rentals, hotels, airline tickets). Utilizing credit cards make it possible to avoid carrying lots of cash with you while on a family vacation. There can be hindrances to using credit cards while traveling abroad with your family though. So, keep that in mind when planning your next family vacation.

Pros – The best part is that credit cards are exchanged at the interbank exchange rate. Paying fees this way is cheaper than an actual exchange bank. Capital One has the widest selection of cards that do not have foreign transaction fees. Plus, you won’t need to worry about how to carry money while traveling if you use credit cards more.

Cons – Many places may not accept credit cards, and you will need cash to make your purchases. ATM’s can be tricky as well. I will share more about utilizing ATMs during travel shortly.

Another con to using credit cards while traveling abroad is you must remember to tell your credit card company that you are going out of the country. If you fail to share this information with your credit card company, you may find your card locked due to potential fraud. It can be a nightmare to get your credit card unlocked, because it can take quite some time speaking to agents over the phone.

If you want to know the best credit cards for international travel, visit Nerdwallet for an in-depth guide.

Debit and ATM Cards

ATM cards can be convenient and save you lots of money while visiting some of the top family travel destinations. No matter what, you will undeniably need cash while abroad. When you decide to utilize an ATM, you can take specific amounts of cash out to keep track of. This will make it simpler to carry money while traveling, because you won’t need to keep track of large amounts all the time.

Pros – With debit and ATM cards, you get the same interbank exchange rate as you do with credit cards. You also get instant access to the cash you need.

Cons – Your bank may charge foreign fees. Be sure to find out before your trip what those fees are and what ways you can avoid them, or you may spend more money than you would like when constantly taking out cash. It may be worth it to take out more money and then being careful about how you carry money while traveling, so you don’t pay more than you need to in fees.

Check the ‘ATM Abroad’ website for details to see if you can avoid fees when utilizing an ATM during family travel. Lastly, if your bank is not connected to the worldwide networks; PLUS, or CIRRUS, the fees and conditions can be tricky. Look into perhaps having a VISA or Mastercard that you can use.

Avoid these other mistakes while traveling abroad. 

Cash – The Main Concern When Carrying Money While Traveling

Carrying some cash money before traveling in the currency of your destination can save time once you reach the airport. You may need to catch a cab or make cash-only purchases before you can reach a working ATM or exchange bank. If you want to check the exchange rate, go to XE.com for an accurate exchange rate.

Pros – Having cash on hand will prevent you from being stranded upon arrival. There are guaranteed places that will solely require this method of payment. You can also receive foreign currency from your local bank before your trip. If available, they typically will waive the fees normally associated.

Cons – There is a very strong possibility that you will have some type of commissions or fees from your bank.

Whatever you decide, be smart, plan, and keep your money tethered to you at all times. Having a money plan will provide you with the comfort needed to enjoy your amazing family vacation abroad.

Are you ready to start planning your next adventure now that you know how to carry money while traveling abroad during your next family adventure?

If you said yes, I would like to invite you to click here to schedule a personalized family vacation planning session with me. When you click this link, you will be taken directly to my digital calendar to schedule a time that is convenient for you.

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