<\/p>\n
You’ve decided to go on vacation<\/a>! The next step isn’t so easy, though: deciding whether doing a foreign currency exchange prior to travelling, using traveller’s cheques, or travelling with your credit card is best is often a struggle when\u00a0planning trip details.\u00a0Your financial situation and the type of currency you choose for your next trip depends on your destination, length of stay, and how comfortable you feel with the options.<\/p>\n If you\u2019re looking to travel to a country that does not accept the Canadian or United States Dollar as a common currency, start with checking the foreign currency exchange rate: this tells you how much your Canadian dollar is worth in the local currency. You can find up-to-date exchange rates for your destination on the Bank of Canada\u2019s website.<\/a><\/p>\n When to travel with cash:<\/strong><\/p>\n Travelling with cash might be the easiest way; exchanging your\u00a0currency prior to departure will save you money if you buy your foreign currency from your bank, rather than a small exchange centre found in destination. Travelling with cash also means you don\u2019t need to worry about smaller amounts like tips, cab rides, or snacks; something that becomes more difficult when travelling with a VISA card or traveller\u2019s cheques.<\/p>\n If you\u2019re travelling to the Caribbean or an all-inclusive resort, we recommend travelling with several smaller bills \u2013 USD $1 or USD $5 for Caribbean resorts \u2013 to leave as tips for maids, bellboys, and bartenders. If you\u2019re travelling Europe, travelling with both cash and a credit card may be helpful: larger purchases like city tours, or meals, can be put on your card, whereas cash can be used for attraction fees, snacks, tips<\/a>, cabs, etc. While our travel agents recommend only exchanging as much money as you\u2019ll need, because the return exchange rate often means you\u2019ll lose some money, it\u2019s also better to be safe than sorry on vacations like travelling to Europe where you\u2019ll be using more cash than if visiting an all-inclusive.<\/p>\n Make sure you have enough cash, stored in a safe place separate from your days\u2019 worth of money, for an emergency: to withdraw more money, or for extra expenses that might include an extra day in destination. If you\u2019re without cash in destination, airports and many hotels have foreign currency exchange dates, though fees tend to be very high.<\/p>\n When to travel with traveller\u2019s cheques:<\/strong><\/p>\n Traveller\u2019s cheques are not a widely accepted form of currency, but are an option in some destinations if you are not comfortable carrying cash or using your credit card. Carry traveller\u2019s cheques in smaller denominations for ease of use. Most banks recommend you sign your cheques right away to help protect your money if they\u2019re lost or stolen; most banks can replace a traveller\u2019s cheque within 24 hours if you\u2019ve kept your receipt (keep your receipts in a separate location from your cheques so they both don\u2019t go missing!). If you\u2019re looking to exchange your traveller\u2019s cheque for local currency once in your destination country, make note that photo identification might be required and commission charges might be charged.<\/p>\n When to travel with your credit card:<\/strong><\/p>\n If you\u2019re travelling with your credit card, make sure you notify your credit card company before leaving the country to ensure your card is not frozen for suspicious activity, and to make sure your credit card will be accepted in that destination. Be sure to speak with your credit card company or bank about any charge fees \u2013 they might be cheaper than foreign currency exchange rates for cash.<\/p>\n If you\u2019re going to travel with your credit card, it is also recommended to travel with some cash \u2013 exchanged before departing Canada. Using your credit or debit card to withdraw from an international ATM often results in very high fees and interest rates. Also note that some smaller cafes and shops in tourist-heavy areas will not accept credit cards; even major companies like VISA or Mastercard.<\/p>\n To be extra secure and safe while travelling, don\u2019t keep all of your credit cards and cash in the same place, incase of theft.<\/p>\n Your best bet for your next trip, whether you\u2019re planning a trip to Europe or to the Caribbean, might be to take a mix of local currency and your credit card for ample funds and the cheapest foreign currency exchange.<\/p>\n If you\u2019re still not sure about how best to handle your money while travelling, we recommend speaking with your bank, credit card company, or by speaking with one of our experienced travel agents. For more on how to save money when travelling, read our agent’s tips.<\/a>\u00a0tripcentral.ca travel\u00a0agents can be reached at 1-800-665-4981.<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" *Updated April 2015 You’ve decided to go on vacation! The next step isn’t so easy, though: deciding whether doing a foreign currency exchange prior to travelling, using traveller’s cheques, or travelling with your credit card is best is often a struggle when\u00a0planning trip details.\u00a0Your financial situation and the type of currency you choose for […]<\/p>\n","protected":false},"author":279,"featured_media":14702,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_lmt_disableupdate":"","_lmt_disable":""},"_links":{"self":[{"href":"https:\/\/www.tripcentral.ca\/blog\/wp-json\/wp\/v2\/pages\/105"}],"collection":[{"href":"https:\/\/www.tripcentral.ca\/blog\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.tripcentral.ca\/blog\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.tripcentral.ca\/blog\/wp-json\/wp\/v2\/users\/279"}],"replies":[{"embeddable":true,"href":"https:\/\/www.tripcentral.ca\/blog\/wp-json\/wp\/v2\/comments?post=105"}],"version-history":[{"count":19,"href":"https:\/\/www.tripcentral.ca\/blog\/wp-json\/wp\/v2\/pages\/105\/revisions"}],"predecessor-version":[{"id":14817,"href":"https:\/\/www.tripcentral.ca\/blog\/wp-json\/wp\/v2\/pages\/105\/revisions\/14817"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.tripcentral.ca\/blog\/wp-json\/wp\/v2\/media\/14702"}],"wp:attachment":[{"href":"https:\/\/www.tripcentral.ca\/blog\/wp-json\/wp\/v2\/media?parent=105"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}