Money
Photo: Ds02006, Public domain via Wikimedia Commons
- See Wikivoyage:Currency for editing guidelines for currency expressions.
There are a number of ways to obtain and exchange money while traveling. You are always trading off expense, risk, and convenience. Unfortunately, organized and other criminals have developed numerous ways to take your money. Credit cards have legal limits on how much you are liable if used illegally. Debit and ATM cards have other risks and benefits. This article discusses how to use them, their risks, and how to obtain currency or cash. As discussed below, having too little funds for your trip may be grounds for deportation, and having too much cash may be seized, if not declared.
Information on using money is covered in shopping, and the Buy section of destination guides. This article contains general information about obtaining money, in its various forms, for use in many destinations, often with currencies other than at home.
Exchange ratesForeign currency exchange is similar to the stock market; however, very large day-to-day changes in rates are uncommon, before and as you travel, you need to know the relative market values of your home currency and…
CashCash is a traditional and versatile payment method, and one that can still be used for paying for most general goods and services you need while travelling.
ATMsUsing automatic teller machines (ATMs) can be used to withdraw cash with debit, credit and prepaid cards or ATM cards that cannot be used directly for payment.
Debit, credit and prepaid cardsDebit, credit and prepaid cards can be used to withdraw cash from ATMs, pay restaurants and hotels and make purchases, where they are accepted.
Card costsTransaction fees can be charged by the bank or institution that issues your card, the company that clears or processes the transaction, and the merchant or the ATM-owner where you use your card.
ChequesCheques are more-or-less obsolete as a means for making or receiving payments internationally, having been mostly replaced by card payments and bank transfers, which are cheaper, simpler and carry less risk for all…
Mobile paymentsJapan and South Korea were the pioneers in mobile payments, with South Korea adopting its first mobile payment system in 2000, and Japan in 2004.
Carrying or sending money across bordersFor most countries, there is no limit to the amount of foreign currency you can import into or export out of them as long as you can establish that the funds are legitimately yours and that they won't be used for…
Getting money in an emergencyYou should have a plan for how you will get money in an emergency.
SeeNumismatics is the study and collecting of coins, banknotes and other units of currency. It can be a hobby, as well as a tool for history and archaeology.
See also
Sources and licences
- Guide text adapted from the Wikivoyage article "Money" by its contributors, available under CC BY-SA 4.0. Read on Wikivoyage · Contributors · CC BY-SA 4.0
- Photo: Ds02006, Public domain via Wikimedia Commons