The task of deciding if you want to utilize the
exchange rates today can be intimidating. Here are some common questions: ss the checks, businesses pay a fee. Smaller enterprises sometimes balk at this arrangement and refuse to take the checks. These days, ATM cards allow cash withdrawals in small amounts. Having a few travelers' checks in your pocket is not a bad idea, but many visitors find an ATM card and a credit card are all they need.
It's important to find out what the prevailing situation is inside your intended destination. In some countries, ATMs and credit card processing are not services that are readily available.
Is exchanging money in a bank really such a bad idea?There are times when it can't be helped, but you're better off outside the bank making a simple Automated Teller Machine withdrawal from your home account or using a credit card to get a cash advance. There will be fees added to your transaction, but many times they pale in comparison to what the banks will charge for making an exchange of currency.
Claim rates accorded high rollers.This often can be accomplished with credit cards and ATMs, since major banks get the best possible exchange rates. If the fees your bank charges for out-of-town ATMs strike you as excessive, plan to make fewer (but larger) withdrawals and use a money belt to keep your cash stashed. Also don't forget to notify your home bank that you'll be making withdrawals in another country.
They sometimes flag such out-of-the-ordinary transactions as potentially fraudulent, and that could put you out of the ATM business for the duration of your trip.
What about prepaid debit cards?They are gaining popularity because they're convenient and budget-setting before you leave home. You put an amount of money ($250-$9999) on the card when it's issued, and then use it as you would a regular debit card. Any money remaining can be retrieved upon return home. The American Automobile Association (AAA) offers such a card for a small fee.