Make money easy to access and difficult to lose.
The best payment strategy is redundant: a primary card, a backup from a different network and enough local cash for situations where neither works.
CHOOSE THE RIGHT CARDS
Use a card without foreign transaction fees whenever possible. Carry both a Visa or Mastercard and any preferred American Express card; acceptance varies. Store the backup separately from the primary card.
Points are valuable only after fees are considered. Paying a foreign transaction fee to earn ordinary rewards rarely makes sense.
GET CASH WISELY
Use an ATM attached to a recognizable bank when available. Before departure, review your bank’s withdrawal limit and foreign ATM fees. Avoid freestanding machines in heavily touristed areas when a bank-operated option exists.
If an ATM or card terminal offers to convert the charge into US dollars, decline the conversion and pay in the local currency. The merchant’s conversion rate is usually worse than the rate provided by your card network.
CARRY THE RIGHT AMOUNT
Large cities may be nearly cashless. Smaller towns, markets, tips, taxis and remote destinations may not be. Estimate cash needs from the itinerary, not from a universal rule. Exchange only a small arrival amount at the airport if convenience is worth the weaker rate.
PREPARE FOR INTERRUPTIONS
Keep digital and offline access to your card issuers’ contact information. Use transaction alerts. Carry one card and a small amount of cash away from your wallet. A lost bag or stolen wallet should be an inconvenience—not the end of your access to money.
CLAIM ELIGIBLE TAX REFUNDS
Some countries refund value-added tax on qualifying purchases. Ask the retailer for the correct documents, keep the goods and receipts accessible, and allow extra airport time for validation. Procedures and minimum purchases vary by country and refund operator.
CONTINUE PLANNING