I’ve travelled all over the world and one important travel topic everyone always asks me about is how I handle money when I am abroad. I hope the tips I share below help you. Enjoy the journey!

Here are the most frequent questions I get and my answers:

Should I take cash? If so, how much and where do I get local currency before I travel?

• Yes, you need a little local currency, but I mostly use credit cards.
• Banks in other countries aren’t necessarily plentiful and aren’t open extended hours. In Italy, we had a hard time finding any open at all given they open late, take a long lunch and close early. They work to live not live to work!
• Only use an ATM that is inside and part of a bank. Lots of fraud out there at those ATMs in convenience stores and out on the street. Plus, the opportunity for thieves to approach you are higher on the street than if you are in the locked bank ATM booth.
• I have a local bank in the US that carries most currencies (and can order what they don’t have). I usually like to bring at least $100 in local currency to mostly use at local shops/farmer’s markets. In Italy, you can’t add a tip onto your bill so you need cash to tip. You also need cash to tip any tour guides. You will probably need local coins to use the public bathrooms. If you end up needing more cash while you are traveling, go to the bank ATM.
  • Customers with Bank of America checking and savings accounts can order foreign currency through Online Banking or the Mobile Banking App. Customers with credit cards only can order currency at a financial center. Exchange and Order Foreign Currency from Bank of America
  • I opened up a checking account with a debit card at a different bank (the one that has local currency) to avoid fees when I get US cash exchanged for other currencies and also because that way if the debit card is compromised while travelling, it doesn’t link to my main checking/savings account which is at another bank. Yes, I’m cautious! I keep a minimum balance in this account-just enough to get $100-200 more out when travelling and then I deposit more for the next trip.

What credit card(s) do you use?

• I take two different credit cards.
• I carry a VISA and an American Express. Both earn me points for more travel! Some places do not take AMEX, so you need to have another option. Make sure any credit card you travel with doesn’t charge you foreign transaction fees. Those fees can really add up.
• My preferred way to pay is to use “tap to pay” with my smart watch that is set up with GooglePay with a VISA as the payment option. This works beautifully in most countries for use with public transportation (UK uses tap to pay for subways and buses) and cafes/shops. This way you are not pulling out a credit card that could possibly get left behind-it happens to all of us!
• When travelling with my husband, he takes one VISA and one AMEX, and I take a different VISA and AMEX. That way if one of us gets our wallet stolen, we cancel the credit cards that the one person was travelling with and we still have the other person’s cards that are different accounts. Be prepared for the worst situation so it doesn’t spoil your vacation.

Do I need to call my credit card company before I travel?

• Probably not but policies vary by company.
• Often banks will tell you that they don’t need to be notified but my travel companions and I have all had issues with using credit cards being declined due to security concerns the first time we use them abroad. One of my credit card has the following notification on their site (search “travel notification” on your credit card site):
  • You no longer need to let us know when you travel. We monitor your accounts and will send automatic alerts if we detect suspicious activity. Should you need us while traveling, call the number on the back of your card anytime.
  • I would recommend you go to each of the credit card sites that you plan to use and just check what they say about “travel notifications”.

Now, you are ready to go have a great adventure and not worry about the logistics of spending money abroad. Cheers!