How to Deal with Money When You Travel
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- เผยแพร่เมื่อ 4 มิ.ย. 2024
- Traveling is not free, no matter what some tiktok video tells you. You will need to pay for your food, for your hotels, for your flights when you travel and that is why it is important to have a better idea about money when you travel abroad. Wether it is making sure you have a mastercard or visa card or knowing what the local currency looks like, money is an issue you will deal with as a traveler. Here we talk about some money issues travelers and tourists have to deal with when they visit Europe.
Filmed in Turku, Finland
Copyright Mark Wolters 2022
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We took 4 different cards with us to Europe, and wound up using the one we didn't plan on using, just because it had the most reliable tap function. Tap is everything in Europe, especially at kiosks
You are crushing it recently! My parents are taking their first trip to Europe in October and I keep sending them your videos. I’m trying to keep the potential culture shock to a minimum. Keep up the great work!
We just got back from a month in Europe and the UK, covering 6 countries. In my experience, an ATM powered by Euronet should be avoided. The exchange rate is not favorable. And I echo the comments made that many places are cashless. You don't need to have an Oyster card in London if you have a contactless pay option or something like Apple Pay. The Oyster card is still available and I used one I bought 6 years ago.
Thank you for your information, me and my wife will keep this in mind.
Why would you say Europe and the UK if the UK is in Europe
@@ChapatiMan In the past I would just say Europe. However, some of my UK colleagues told me they think of the UK as separate from Europe. Just trying to be respectful.
@Morahman7vnNo2 the uk is obviously still in Europe, because that’s the continent. The uk left the European Union, which is a group of European countries working together and they set rules together and trade together and stuff. Some idiots think that the uk literally left the continent of Europe. I have no clue how people think that
@@evelyngrammar I appreciated the way you said it. (UK Brexit voter).
Perfect tips! You covered everything! Thank you!
I’d like to add that, once in a blue moon, you might find an ATM, or train kiosk, that won’t say “English.” They will have a list of country flags, to choose from, that represent a language. In that case, you want to choose the British flag (🇬🇧).
Well yeah. The ones that use text don’t say “American”, do they?
@@jendorei , you’re obviously not from America. I’ve actually stood by a kiosk and overheard a first time overseas traveler, from the U.S., say “Where’s the American flag?”
Great Video. Thank you for posting.
Very awesome and helpful video ! Thanks Mark !
Very helpful video Mark, you’re channel is appreciated by many. I myself have gotten at least 10 people to subscribe. Gotta get you to that 1 million!!
Great tips Mark! Thank you so much!!!
I haven't checked recently but AAA used to offer a money pack for going abroad, usually enough to go from the airport to your accommodations.
If you are traveling light or dont mind the load, many times public transportation such as subways and rail serve airports, check into this before pondering a taxi, I learned this watching videos aimed at airport arrivals and how to get into the city.
Great tips. We usually bring multiple cards from different banks for redundancy in case a card doesn’t work, gets stolen, etc.
Wolter I been watching you for a year now me and my friends are going to Paris France for the first time in less then a month and your videos have been helping me I’m so excited it’s my first international trip
SO helpful! Thank you!
Great vid! This is great information that most of us had to learn the hard way.
Judging from my own experiences in the last 12 months and from comments on this video entered by other people, the most important advice from Mark is at 9m 18s. Make sure you take a card with you, and make sure that it is contactless - (ie has the Wifi symbol on it). Many businesses in Europe, even in GERMANY, are 'cash free'. It is one of their contractual terms that they only accept payment by card (or by bank credit transfer).
Write it as 9:18 and it’ll be clickable
Very helpful. Thanks Mark. ✌👍
i’ve been watching a ton of these videos, im going to paris this spring, i know it’s not for a while but better to be prepared now and have it in the back of my head then to not be prepared at all
Great video, thank you!
Loved your tips .
Great video and awesome tips
Thanks for the heads up for this Canadian 🇨🇦 Traveler who’s doing the United Kingdom next Fall 2023! Very Helpful indeed!😎👍
Thank you. After years of traveling and moving this is how I choose to travel now.
Glad to show a bit of thr world
Excellent information my friend. I always wait until I arrive in Germany to get my money. I usually have euros left over from my previous trip as well as i you oh had stated. Great job Mark. :)
I have yet to go to Europe but I remember watching your video about phones abroad from 6 or 7 ish years ago. Do you think your advice from that video still applies or have things with phones abroad changed since then?
In most countries, you can pay with a credit card. It’s best to use a credit card which does not charge foreign transaction fees. MasterCard and Visa are your best options since they are the most widely accepted credit cards worldwide.
One thing that I found that to change language on the ATMs you pick the flag that is associated with that language. And for English you have to pick the UK flag.
Also I found that many Post Offices have ATMs.
Great points…
Hello fellow travelers, greetings from Argentina, 👋 we love watching videos and discovering new places and people.
A hug from a distance... ENJOY LIFE!!! ❤🙌
Great tips
ALWAYS..bring a copy of your ATM card (duplicate). Some ATM's utilize the "capture" of the card feature, where the machine swallows the card and spits it out once the transaction is done, etc. However, when using one of them in Germany, the language on the screen was German and I couldn't figure out how to change it before it "timed out", and the machine retain my card, leaving me stranded for a week without being able to get cash! Always bring a duplicate!
if something is not working, try hitting the red button multiple times. It's quite standard all over the place, even if individual ATMs can differ ever so slightly.
These days, most ATMs support tap feature, so you don’t need to put your card anywhere (and if you can add your debit card to Apple/Google Pay, you can use your phone/watch)
What do you mean by copy of your ATM card? Can I go to my bank and order a copy??
@@adrianelias2365 yes, ask for a duplicate card. Make sure you authorize it
I was able to switch to English.sorry for u
Thank you for responding to my question thank you thank you
A dodge viper in finaland! Amazing!
Great timing for the video Mark, thanks! We go to Ireland in a month and I'll go to my bank today and look at getting some Euros.
Funny money story on my Soviet college trip from 1989 back in the old days when we used travelers checks and exchanged for local money and only the rich had credit cards. You exchange a little money at the bank but in the communist countries you got far better deals for trading it on the street on the black market. At the bank you got a ruble for $1.60, but on the street you could get six or seven rubles for a dollar. But of course a lot of black marketers would take advantage of Americans who can't read Cyrillic and give people some other currency. So you would always say pakazhetay mnye vasha mahnyeti, or show me your money. Fortunately I knew Cyrillic brushing up on Fraser Russian beforehand, and I was a stamp collector in my youth so I could instantly recognize most country names from the stamps. One person in our group bragged that he got 10 Euros for a dollar. I asked him to show us the money and instantly recognized Yugoslavia and I had let him know that money was worthless here. The rest of the people in our class laughed hysterically and for the rest of the trip his nickname was Jugo.
Very helpful! I was wondering about Apple Pay
Sometimes here in the UK in the foreign money shops you can pay a small fee to lock in the exchange rate for when you want to sell your foreign currency back to the shop when you come back home to the UK
Fun fact: Discover is Diners Club International in Europe. Sometimes a hotel looks strangely at your Discover card but when they charge it they'll see Diners Club.
But it's very rarely accepted. Mostly big hotel chains.
I never had a problem with Discover in Europe.
I for sure wish I knew about the not converting at the ATM before I was in London. I was charged SO much. I'm going to Venice in May and will be getting Euros from my bank a few months before I leave. I love your videos ❤
Make sure that u get a blocking wallet if u re going to use the tap and go option.
Thanks Marky Mark!!!!!!!!!!!!!!!!!!
Yes we need money if we want travel abroab, hello i'm your subscriber from Indonesia i'm an english learner as well.😊
I used my Chase United card in Brussels and I saved a lot of conversion money on a coffee and my breakfast meal. I was taking Brussels to Namur last year and it came in handy when I didn’t want to pull out Euros in a hurry.
Great advice. One thing I see on the UK Reddit is then always talking about how “cashless” it is compared to the US. something I have added to my lIst for when I go to the UK.
On exchange houses, recently traveled in Switzerland coming from France, and the best exchange rates for cash that I got were in coop of all places, I guess it pays to look around.
Yes great video -helpful and informative -i like the fact that i can read it too not many videos seem to have subtitles! So hello to all u travellers! Im going to cyprus 4 a couple of weeks and Im hoping someone can tell me do i even need to take euros at all?? I keep seeing conflicting views around online. I'm guessing I wont need more than 100 in UK money?? I dont want to spend much and Im staying with a friend so Im confused about whether how much euros will b needed because so many places are cashless and use tap etc. Any advice much appreciated! Thanks all
In the Netherlands I had issues using my chase credit card at petrol pumps. Had to use rmy friends European debit card. In Italy at smaller restaurants the card machines sometimes didn't want to read USA credit cards
There has been a huge move in Europe towards contactless payments, and MANY MANY businesses now do not accept cash. Sweden is possibly the extreme case on this point. In many places you even cannot use cash to go to the toilet. You use your contactless bank card.
Looks like progress. In Germnay people still use cash...
That might be true for some north european countries but in the rest of the europe cash is still the king. In many countries it is illegal not to accept cash.
@@mauriciot I was in Germany from 13th to 22nd June. I paid for almost everything (even snacks) by credit card. The German attitude to credit cards has definitely changed. It may be even the effects of Covid-19. Germans (like other Europeans) do not want to get infected from notes or coins. (In Switzerland in April I paid for almost everything by card. In Britain where I live a substantial number of businesses say card only NO CASH.)
Companies that have employees traveling will go to a money exchange business. We used to go to a place in Birmingham MI to get funds ahead. Had to order.
I didn't even know there were such thing as prepaid credit cards.
I doubt I'll ever travel abroad, BUT if I do, I'll keep that in mind for looking into a prepaid credit card with a PIN
I went to several European countries in high school right before they went to the Euro. I saved a few of the bills from each place, thinking "hey if I come back I can use these!" well....not so much with the Euro. But now they make a cool historical reminder/memory from when I was there so it all worked out!
You might be able to exchange the old bills to the current currency. The certain local bank still keep doing this. I did it the several years ago with Lithuanian litas which I saved from my trip to Lithuania. My trip happened just 8 months before Lithuania went from Litas to €.
it depends from country to country, not all still exchange the older currencies. There's a handy table on the ECB's website, but basically, if you have any of the southern currencies like Spanish pesetas, Italian lira, Portuguese escudos, Greek drachme or French francs, you're out of luck. Even the countries that do allow to exchange the old currency, have limitations, some like Belgium only exchange the bills, no longer the coins, and for as far as I can tell, they only exchange them at their respective national banks, not in each private bank or post office. If you only have a little amount, it might well not be worth it.
I always notify my bank 🏦 when my travel dates are.
how early in advance should you notify your bank before traveling?
When i went to Italy, a lot of places took the tap on cards
Check you bank and see who they have agreements with. For example Bank of America often has an agreement with one large bank in bigger countries that will not charge you the bank transaction fee using their ATM. Also, If you are a good customer, you can order foreign cash online at a decent exchange rate and I usually get it at home within two days.
Which is better. Buy the currency you need before you go or use an ATM in your country and how much per day?
I traveled to Scotland and Norther Ireland, where I had to withdraw cash and I took your advice on one of your videos very seriously - so once ATM gave me out Northern Ireland pounds I went inside the bank and changed all the money to British pounds. I came back home and I asked exchange booth what would be the fee for exchanging that money, they said something like 20% less from GBP exchange rate.
Northern Ireland uses British Pound Sterling. It is the exact same currency. Their bank notes are just a different design and are issued usually by Ulsterbank. If you were charged a conversion fee, you got ripped off
Another heads-up: you can use a Euro in all of the countries where it is the official currency, but even though Norway, Denmark, Sweden and the Czech Republic all call their currencies Crown they are all different curriencies. In other words: you can't use a Danish Crown in Norway, for example.
Um...duh? You can't use a Singapore, NZ, or Australias dollar in the US. Why would anyone assume you could?
@@CH-vm6cq I've seen some people who thought so, maybe because they are all small countries (not big enough to have their own currency). I'm sure it can be confusing for an outsider with who the members of the EU are and what nations within that group uses the Euro. Since the Euros can be traded with in all Euro countries it's a somewhat logical step to think the same goes for the Crown(s).
@@ChrisFalk2 I didn’t know that, thanks!
Yes, you can use euro in Sweden at McDonalds for example. But they will rip you off on the conversion, so don't do that.
You ought to talk about the Blue Dollar in Argentina.
One more tip - figure out which of your coins have the most similar dimensions to 1€ and 50c and take some with you. Reason - you can pay with your card at the supermarket, no problem, but you may need a coin to unlock the shopping cart. And, at some airports, the same system works for baggage carts…
I leave for paris this Saturday thanks for the free game
A good habit a friend taught me while I'm traveling and using ATMs: use your bank app and lock your bank card after every use. That way if someone has skimmed your card no transactions will go through bc your card will be locked. Then when you use it again, unlock, get your $ and immediately lock the card again. It gives you so much peace of mind.
My favorite thing that I learned years ago was Charles Schwaab account. Also having USAA helps.
I’m curious about the best way to exchange money in Mexico,I’m not sure I want to use ATM there
i love travel,thank u for budgeting
Oh no Mark, I am from Germany and I never get 100 € bills from the ATM. Nobody wants them here either. Usually, I get 4x 50 € and the rest in 20 € or 10 € bills. But there might be differences in different cities. I am from Munich and here, you can also withdraw "crooked" amounts, e.g. 270 €, while in Berlin I have had the experience that they only pay out full 50s there, i.e. 250, 300, 350 € etc.
You are right with the transaction fees on credit card expenses. When I went to the U.S. with my Mastercard, they charged me 2% fee on each transaction in U.S. $.
But forget about American Express in Europe (especially in Germany) - and I have never heard about Discover 😳
It was quite useful to mention the tap function. You can use it even at my local bakery 😊
Discover is the same as Dinners Club
I brought 3 credit cards and Canadian dollars in case I needed to exchange money for my Europe trip. I mostly paid with my cards but some places only took cash. Now, I have Euro, Czech crowns and Hungarian Forint in my wallet.
In Prague be aware of gangs offering to swap large notes to smaller notes, they give you Bulgarian and Belarussian notes, there's a Czech youtuber called Honest Guide explains about the scam.
Great video
@@Elatenl basically, yeah, but sadly people will
I never exchange the local currency back to USD. I either keep it as momento or give it to a friend who likes collecting different currencies.
You forgot to say to make sure you have coins for the public toilets that charge.
Great production value of your videos!
When I went to Germany in late January I brought $1000 euros cash with my cards as backup. This was a 9 day/8 night trip.
I would not have taken so much from home, but rather taken 1-200, and withdrawn at the destination, to be honest. But the amount seems to be quite correct, it is a holiday, after all, so chances are, you are more often going to eat out, do fun activities, etc.
One other thing. The paper 20 pound note is being retired the end of September 2022. I was holding mine fire my next trip but it will not be until after September. I just took it to my bank (Chase) and deposited it into my account.
you could have exchanged it at any post office in the UK for free for quite some time after, so that would have worked as well, but I understand if you didn't want to risk it.
I donate any extra coins before heading home!
Money tips but for South America please
Last fall when we were in Italy none of the bank ATM would give me money from my VISA debit card with a chip in Rome, Florence, nor Venice. Concierge in Venice hotel said he had previously lived in London and had same problem in Italy.
So what was the issue or how can I avoid that problem on my upcoming trip? Most american cards have chips these days.
this might be a dumb question but do they have american banks like chase around the world. assuming the same banks you use at home will give you the best rates
The short answer is no. However if you check with your bank before leaving, you'll find that banks have cross agreements with other banks.
Travel shows don't show these types of stuff on TV. In reality this is what is important for a majority of people because a majority of people are not rich and every penny matters. People like me (who are from a middle class / lower middle class family who dream about traveling the world on a budget) need this type of information. Information about where to go is easily available but proper information about how to save money is rare.
2:51✍️
What if I don’t have a credit card? Can I use my debit card to book a hotel?
Hey Mark, My US bank card had a chip, but no tap feature, when I went to the Czech Republic. NO. BANK. MACHINE. OR. BANK. WOULD. EVEN. RECOGNIZE. MY. CARD. Fortunately I had a European card from my bank in Tbilisi. Or I would have been SOL. My Alaskan bank has no immediate plans to add such a feature. Just sayin'. I'll be in Germany soon. So we'll see what it looks like there. My card works fine back in Georgia (NOT THE US STATE). Thanks for the tips.
Remember travelers checks?
Cash is still king in Germany.
I think the problem was something else, not the lack of a tap feature. If you put the card into a chip reader, it obviously won’t check for the tap feature, lol.
I know banks here in Poland disable your magnet strip by default and you have to ask them to enable it if you need to use it (it’s unsafe - easy to skim and steal your info). Perhaps your chip could be disabled too?
There are also different card operators. The ones mostly accepted globally are Visa and MasterCard, as mentioned in the video. If your provider was American Express or something else, it might have
If you travel a lot, then I'll look into setting up a small checking account with a bigger bank then. Bank of America, Chase, ect. All of which offer the tap on their cards, or you can use your phone.
@@DrVVVinK Alas I am living in the country of Georgia. So I don't have access to those banks.
You may want to have a 'wise card' and Zelle to put money in your Wise card from your bank. This way, you get the best rate and don't get banged by your own bank.
Tried for a credit card with no overseas fees but was knocked back because I, personally, don’t earn enough. Quite disappointing. Just needed a vid like this. 👍
Try Wise (formerly Transfewise). It is the best!
In Mexico, everyone wants change and no one will give it.
Even a supermarket won't break a larger bill, not even 200 pesos, about 10 bucks. I ended up going to a bank.
🎉🎉🎉
Coins can be very valuable... I have a handful of Swiss coins that total ~$30...
yeah, those 5 CHF coins quickly add up. One of the most valuable coin readily in circulation today, if not the most valuable.
Napiszę po polsku, tak jest łatwiej. W Czechach nie potrzebujesz czeskich koron - wystarczy karta płatnicza. We Francji jesteśmy 2 tygodnie - nie wydaliśmy ani jednego EUR w gotówce. W Niemczech za paliwo, hotele, zakupy też płacimy kartą.
Najlepiej założyć konto walutowe, kartę do niego a walutę kupować w kantorach internetowych. Gotówka do niczego nie jest potrzebna, nawet do parkomatu.
300 EUR and they want to offer an exchange rate of 368 USD. That is not an offer it's an outright scam. Actually thanks to earlier videos about this exchange rate offer I always press no and safe a ton. I never experienced an ATM before that gave out hundred EUR bill. But then again the longest I stayed in Germany was 1 night and only because of flight delay.
It makes such a difference these days: get off the plane with a bit of cash, plastic, and enjoy your trip. TfL were happy to send me an Oyster Card before I left Canada. Their Aussie counterparts sent me an Opal Card. And so on.
if you have a contactless bank card (credit or debit), you don't even need an Oyster, these days. Unless your bank fees for payments in foreign currencies is extortionate (I have one that charges 50 ct for each single transaction, that quickly adds up when paying lots of trips), I'd just use my bank card, these days.
I would avoid Travelex. They have awful exchange rates.
What about if I just order all the foreign currency I plan on using from my Bank before leaving? My card has a 3% transaction fee. That's what I did for my past 2 trips to Europe.
That's OK if you don't mind carrying a lot of currency, a little insecure.I think. Also some.country's.currency is.not readily available.outside the country. I have just returned from Romania and its currency (the Lei or Ron) is not available abroad.
Apply for a good travel credit card like the chase sapphire preferred and that will be the only thing you'll need when traveling
For Europe, I'd only bring a relatively small amount of Euros, or whatever currency is used in the country you land in, and withdraw money once I get there. Take out relatively large amounts (Mark said 300, I'd say at least 100 to 200) each time to reduce fees, but likely your exchange rates will be better. And try to get a better card, even one with a flat fee is better, just use it for the bigger amounts.
I can almost guarantee the exchange rate/commission your banks charges you will be worse than the 3% card transaction fee. Also you lose security and ease of use.
I kept my British Pounds for so long they updated the bills! Any tips on how I can exchange a couple hundred squid to the new bills?
Take the notes to a bank or a Post Office. They should accept the old notes once they've checked that they're genuine.
Thanks, good to know!
I just spent a week in the Netherlands. Everyone accepted my MasterCard. I didn’t obtain/need any Euros at all.
´Dude…nobody speaks Finnish’. All I remember is olut and kittos (beer and thank).
Bad idea to get Euros from your bank before you go. They will not give you the best rate and charge you a transaction fee to boot. Go to a European bank ATM once you arrive and get Euros there.
I would agree to not take out a huge amount from home... but having a 100 or 2 to pay for an emergency cab, grabbing something to eat, etc is not such a bad idea. Not all airports have good ATMs (some only have Euronet-style ones that are totally gonna rip you off, or even no ATMs in some stations), or you might be in a rush to get to your hotel, and no matter how unfortunate it is, many taxi drivers still have a 'broken' card machine and insist on taking cash in many places. And while you should be able to pay electronically in most places, some don't accept foreign cards (e.g. Belgium just mandated all customer-facing businesses should accept some form of electronic payment, but many who didn't before, chose for a domestic payment app, our equivalent of Venmo, you'd be shit out of luck with whatever card you come.) I witnessed it at a bar in Brussels, an American tourist wanted to pay for his beer with a credit card and couldn't believe he had to get cash from an ATM.
Rick says in his video it’s best to go to the bank to get euros
As a Swede working in a touristy place. The most common thing I'd want Americans to know is know your four digit pin and don't bring cash. As in DON'T BRING CASH! You don't need it and will probably not be able to spend them before you leave. The number of people I've met that have trouble paying for lunch because they only have cash is almost comical. We generally use cash so little that I don't think I've used an ATM in Sweden for at least 10 years. The only time I can think of you'd need cash is to buy drugs. I'd honesty be surprised if couldn't buy drugs with a credit/debit card as well if you wanted to...
We don't have PIN on credit cards, that's the issue.
Wait, you mean, you can actually _use_ a Discover card outside the US and Canada?! XD
👍👍👍👍💚💚👍👍👍👍
You know, my bank and my credit card company (like many here) use the latest chip technology (like they do in Europe) so I do not have to deal with telling my bank or credit card company I am travelling, and they can also use tap and go technology. Also, because I am with a huge bank, I can order foreign currency on line, they debit my account and in 3 or 4 days I can pick up the notes at my local branch, or have it delivered by FedEx (or pick up at my local FedEx office). On a personal note, the worst coins to deal with are British coins, only because it is often damned hard to see the number on them. And yes I currently have euros, pounds, Mexican pesos, and Canadian dollars - paper and coins. My last trip in my travel wallet I had Swiss francs, euros, and US dollars.
> my bank and my credit card company (like many here) use the latest chip technology (like they do in Europe) so I do not have to deal with telling my bank or credit card company I am travelling
No no no. This is unrelated. They might have the technology, but you should still notify them of travels, or else they may block your card for suspicious activity and give you trouble while you’re there. Better safe than sorry.
@@jendorei Did that a few years back when I got my chipped card and both my credit card company and bank (for debit card) did not care. They used to have on their websites (after logging in) a tab where you could notify them of your travel plans, but even that is gone.
Mostly I don't have money with me!
i am stressed
Did you get your 900k subscribers? (It shows me 900k, but maybe it rounds up?)
My money is my wifes money - ALWAYS ❤