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Foreign Currency

Debit card, credit cards, or cash?

In today’s global economy, we have a variety of options for dealing with our monetary needs when traveling abroad. The following are a few tips to help make things easier and possibly more cost-effective for you while on tour.

If you have a reservation with us, be sure to review the General Information document on your My Odyssey portal for more detailed information regarding currency at your tour destination(s).

 

Currency Exchange

We recommend waiting until you reach your destination(s) to exchange USD as local ATMs and currency exchanges usually offer the lowest fees. If you wish to obtain foreign currency prior to your departure, you can usually do so through your bank and/or credit union. As a last resort, currency exchange kiosks are available at major airports, but they often have the highest rates and fees.

Travel Tip

While shopping on tour, if you are asked if you would like your transaction converted to U.S. dollars from the local currency (called “dynamic currency conversion”), say no. The merchant may have the ability to convert your purchase at a much higher rate than the credit card company charges them, costing you extra.

Only obtain as much non-U.S. cash as you think you’ll need. And please, for your safety, only exchange money at well-lit, public, and authorized/official locations. While on tour, your tour director can assist you in finding the best place to exchange currency.

 

ATMs

Please refer to the General Information document in your My Odyssey portal for information on ATM availability at the destination(s) on your tour. Just as you would at home, only use only well-lit ATMs in public areas and put all your money away before stepping back out on the street.

Travel Tip

You may be charged a fee for using ATMs associated with foreign banks. However, many banks have formed foreign alliances that allow you to use their ATMs free of charge. We advise checking with your bank to see if this applies to any of your accounts.

 

Credit Cards

Visa® and MasterCard® are the most widely accepted credit cards worldwide today. We provide destination-specific credit card acceptance information in the General Information document on your My Odyssey portal, but you can always double-check with your credit card company as well.

Travel Tip

Many credit cards charge a foreign transaction fee (typically between 2–3% percent of each transaction you make abroad). However, many “travel” credit cards offering travel-specific perks do not charge this fee, so you may wish to obtain one prior to your departure to save some money.

 

In Summary:

  • When paying by credit card, always opt to pay for purchases in the local currency rather than have the merchant convert the purchase to U.S. dollars.
  • Travel with a combination of cash, debit card, and credit card(s).
  • Advise your bank and credit card companies of the destinations in which you will be using your card(s) and when (even if you will be traveling within the United States).
  • In much of the world, an ATM card is your best option for obtaining foreign currency.
  • Finally, when traveling to developing countries, it’s a good idea to bring 25USD to 50USD in recently printed or new $1 and $5 bills for the occasional quick tip or small purchase. In general, when bringing U.S. currency either to exchange or to use abroad (vendors in many developing countries gladly accept U.S. dollars), please make sure that all bills are crisp and clean – worn and/or torn bills will often be refused.
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