Handy Tricks: World Traveler Edition

Step 6 Money

Dustin:
dollars are universally accepted (or at least they used to be before
the dollar tanked) being too lazy to change currencies guarantees that
you'll get ripped off and garner enmity for being a rich american
flashing your money around. as with step 2, learn how to say "how much
does this cost?"

ask vendors to explain the qualities of their wares. ask what is the
nicest you have? ask why it is so expensive? They'll cut you a deal
later and they'll help you learn the language.

Buy gifts for people you don't even know (yet!).
it's easy to buy large amounts of small gifts for people. Small
things are cheap and show that you were thinking of someone. In asia
I buy scads of chopsticks, people love them. giving people stuff is
fun, especially weird stuff from foreign countries.

Star:
If you aren't sure what something costs, and you're buying from a small shop, or in bulk, you can just hand the vendor some money and you will get exactly whatever that amount of money is worth. This can prevent misunderstandings.

Some banks automatically assume overseas transactions are fraud. Call your bank and credit company before you go, and tell them you're going abroad.

If you want to be really prepared, you can open a savings account at some bank that you know also exists in the place you're going. and get an extra debit card you use only for travel money.

With a magnetic card reader-writer, it's really easy to make a duplicate of your atm card.

Look for the card with the most network logos on the back - Star, Plus, Cirrus.

I was surprised to find Citibank in Brazil. It appears that they have branches in many major countries. So when my ATM card got denied because my bank thought the international transaction was fraud, if I'd had a Citibank account, I could have withdrawn some emergency cash from it through them.

Truly, cash is king. The best stuff, if you're getting any, is hand-made, and that stuff shows up on the streets, where people aren't taking credit. So carry enough on you to do what you want. And carry local currency.

To stash emergency cash, I ripped a small section of seam on the hem of a pair of shorts, rolled up a few twenties, and inserted them into the hem. They're easy to get access to anytime you're really stuck for cash. If you need to extract them, find the nearest convenient bathroom!

I recommend not buying any souvenirs until the third day of your trip, at least - that way you'll get a sense of what a reasonable price is, for the thing you want.

If you need money in a pinch, tell good stories, and sell things to other tourists.

I like to bring back a TON of weird foreign teas, some bizarre toothpaste, and small local bills for presents.
Tea bags are so light weight! You can pack them anywhere! And, everyone has some use for tea.
The toothpaste is amazing - from within the US, you wouldn't expect to see anything but "Mint", but I've seen toothpaste flavored "Strawberry-Banana", "Acai", "Guarana", "Acerola" (Brazillian fruit) - all of this very exotic and wonderful to give to friends! Toothpaste also packs small and light.
Finally, I like to write notes on the bills - once I'm back in the US, I can't use them. The 2 shown below is worth roughly a dollar, and isn't worth changing, and I'm also not going to use it. So I draw a text bubble from the figurehead's mouth with a note for my friend, maybe encouraging them to travel and explore foreign lands. Verrry easy to pack and bring with you.

Tim:
Carry a few copies of your atm and credit card. Have bank cards from more than one company.
Once in Mexico an ATM machine ate my bank card. It was a holiday so I couldn't get the card back.
Fortunately I had a backup card.
On another trip the creditcard company disabled my card. They decided it had been stolen because of foreign charges.
Now I'm in Belgrade and I see that Bank of America is charging me a $5 "foreign ATM" fee each time I draw money. Can anyone recommend banks that don't do this?

I did an online chat with BOA customer service. Partial Transcript of the Chat Session:
Jose: Hello. My name is Jose. Thank you for being a valued Bank of America customer and choosing our Text Chat service. How may I assist with your personal banking needs today?
You: I'm traveling in europe. It appears you are charging me $5 every time I use an ATM. Can you change my account so I don't get these charges?
Jose: I understand your concern regarding the ATM withdrawl fee.
Jose: Let me check that for you.
Jose: Thank you for your patience.
Jose: Timothy, the $5.00 fee which you are referring to is a foreign ATM fee for using the ATM at other country.
You: So how do you remove them?
Jose: For your reference, while traveling outside the United States, you can avoid the $5.00 access fee and the transaction fees by using an ATM at the following banks in these locations:
Jose: - Barclays - United Kingdom
Jose: - China Construction Bank - China
Jose: - Deutsche Bank - Germany
Jose: - Scotiabank - Canada
Jose: - BNP Paribas - France
Jose: - Westpac - Australia and New Zealand
Jose: - Santander Serfin  Mexico.
Jose: Please note that International Transaction Fee of 1% and 3% Foreign Currency Conversion Adjustment will not be waived.
You: howabout serbia, bulgaria, turkey, syria, and jordan?
Jose: I apologize, other then the ATM's provided if you use the ATM in any other ATM you will be charged with
Jose: $5.00.
Jose: You can use the Barclays - United Kingdom to avoid the fee.
Last text message receivedJose: Is there anything else I may assist you with today?

Comments

[5tinkymouse]

when I was in peru after a while I just started naming prices instead of asking "how much?" I found that people like to haggle when I was met with grins.... or maybe I named too high a price. either way it seemed cheap to me.

[Blue Leopard]

I'm a female traveler who prefers to use cash whenever possible. When I travel and expect to have a large amount of bills on me I put most of my money in a plastic sandwich bag, then slide it into a hollowed-out maxi pad in my underwear. I'm sure a man can similarly carry a small roll of bills in a fabric pouch in his underwear.

[stasterisk]

Nice trick!! I like this suggestion a lot.

[Blue Leopard]

Thanks! I think I just figured out what my first Instructable will be about... ;)