You might want to consider these important money tips for travelers before heading out that door!
Great news! The American dollar is currently worth more abroad than in nearly a decade… Here are some important money tips for travelers that will help stretch that buck even further…
Cash vs. Plastic

First things first: Cash or plastic? Your best bet is both. In today’s modern world, you can use credit or debit cards for almost anything, but for street vendors, taxis, and public transit you’ll likely need the paper stuff.
Three Things to Have in Your Wallet:

1. A Charles Schwab Debit Card
Access to cash is key, and by opening a Charles Schwab checking account, you’ll pay no ATM fees anywhere in the world. You’ll be issued a Visa debit card with chip technology for fraud protection and increased usability. There’s no minimum balance, and the great smartphone/iPhone app allows you to transfer money, check balances and withdrawals, and keep track of ATM rebates from anywhere in the world. Charles Schwab is currently offering $100 to new clients that have been referred by account holders. Just comment below, and we’ll have them send you the link!
2. A Credit Card with “No Foreign Transaction Fees”

You’ll typically use this card for almost everything: shopping, restaurants, transportation, reservations, etc. It guarantees the best daily exchange rate, and you’ll avoid paying normal foreign transaction fees of 1% to 3% on all your purchases. And by using a credit card, you’re keeping your cash flow available for when it’s needed most.
Check with your current credit card provider and see if they charge foreign transaction fees. If they do, use this opportunity to shop for a new card that’s offering free airline miles for signing up! Our favorite sites are Million Mile Secrets and The Point Guy. You might want check out our secrets to flying free, here.
3. Local Currency

Although your credit cards can be used for almost everything, it’s wise to keep some of that paper money on hand as well… Since most transportation options from the airport, train or bus station will require cash, go straight to the ATM and use your Charles Schwab card. Again, you’ll get the best exchange rate, and avoid the awkward surprise when arriving in your destination with a taxi driver that only accepts cash.
Another thing to note: Although you can use US dollars in some countries, you’ll typically be given an awful exchange rate, so get that local money!
More Money Tips for Travelers

VAT Refunds in Europe
VAT, or Value-Added Tax is added to most goods when shopping in the European Union, and varies from 8%-27%, depending on the country. Although you’re required to pay the taxes upfront, many shops will include paperwork needed for a refund with your receipt. Save these documents and apply for your refund at the airport before leaving the EU.
Tipping

In America, we accept tipping for good service as a part of daily life, but in many countries, it is neither customary nor expected. Before adding twenty percent to that bill, check this guide for tip customs in the country you’re visiting.
Currency Conversion

Making sure that you’re always paying a fair conversion rate can be stressful, especially when traveling to multiple countries with varying currencies… We love the Units Plus Converter, a free app that updates to the correct conversion rates daily.
Travel Insurance
Traveling abroad is exciting and safe, but you never known when some good travel insurance could come in handy. World Nomads offers the best coverage in the business, is affordable, and is quick to act should something go wrong. For more info, check out our recent on World Nomads blog post.
65 Responses to “Don’t Miss These Important Money Tips for Travelers”
Marc d'Entremont
Since I travel for a living I have everything you provide as tips so your advice is right on!!
Josh Sedivy
That’s awesome Marc, so glad you agree! π
Lisa
Good tips! Would love to get more info on the Charles Schwab offer. Thanks!
Josh Sedivy
Thank you! We hope our tips are helpful for you. You’ll get an email from Schwab shortly about their $100 referral deal. π
Nidhi Tandon
Thanks for the tips! Would also love to get more information on the Schwab account!
Josh Sedivy
Glad you’re enjoying our money tips, Nidhi! You’ll receive an email from Charles Schwab shortly. π
Andrew Shuttleton
Hey! Can you still refer me for the Charles S debit card please? Or have they finished that deal?
Loving the advice and time you spend helping everyone who loves travelling.
Andrew
Josh Sedivy
Thanks Andrew, we’re just happy to help! You should see an email from Charles Schwab shortly! π
Joanne Popovich
I just started following your blog and really enjoying the content, especially with an upcoming trip to England and Scotland. Can you send me information re: the Schwab card? Thank you and happy trails! Joanne
Josh Sedivy
Hi Joanne, we’re so glad you’re enjoying our blog! We love Scotland and England! Feel free to ask if you need any tips or advice. In the meantime, you should receive an email from Schwab, shortly.
Kelley
Love the blog, as always! These money tips are everything I have done traveling to save some $$ too….except the Schwab card. Can you help me find out more about it? Seems like a great way to avoid fees and stay on top of your cash.
AlicevstheWorld
This is all handy info, thanks for sharing!
Shallanda
Thanks so much for sharing such helpful info.
May I also request info re. Schwab card?
Josh Sedivy
Hello Shallanda, Sure! Charles Schwab should be contacting you shortly. π
Dan Brook
Also check out my
21 Ways To Pay For Your Study Abroad Adventure
https://www.theodysseyonline.com/best-ways-earn-funds-traveling
Elycia
Love your tips! Please send me link to Charles Schwab
Josh Sedivy
Thanks so much, Elycia! You should receive an email from Schwab, shortly. π
Sean Brennan
I’d like the Charles scwab referral code please
Josh Sedivy
Coming your way! π
Julie
Thanks for the info this is great, would love the link to the Charles Schwab card.
Josh Sedivy
You’re welcome! Schwab should be contacting you shortly. π
Kara
Hi, may I have the Charles Schwab offer too? Do u think they can get me the actual card in less than two weeks too? Thx
Josh Sedivy
Sure! They’ll be sending an invite shortly. I think two weeks was about the timeframe we got ours, so hopefully! π
Amber
Wow, this is an amazing article and I am so glad I found it! β₯
Josh Sedivy
We’re glad you enjoy it, Amber! Hope it helps with your travels. π
Elizabeth
Thanks for the great article; I’m planning to travel to Europe for the first time this summer and can’t wait, so I’m spending the waiting time on research . Please send info. for the Charles Schwab account!
Josh Sedivy
Fantastic! I’ll have Schwab send you the invite. So, where are you off to in Europe?
Elizabeth
Well, my friend who’s going with me was saying only one week, but that just won’t work lol. Since time is apperantly short, the #1 must is London, but because plane tickets are cheaper to get to and from Dublin, then I think we start there and make our way to London and then back to Dublin (minimum 2 weeks π ).
Elizabeth
Hey, I asked for the Carles Schwab info about a week ago but never got the email, and it’s not in my spam folder either. Could you try to send it again please?
David Blinn
Looking for the Charles Schwab link to sign up new customers.
Josh Sedivy
No problem, you’ll receive the Charles Schwab invite, shortly! π
Carey
Great travel tips! Thanks! Would love the Charles Schwab link…will be traveling in the UK and Europe this summer!
Josh Sedivy
Fantastic! Hope you have a wonderful trip! π
Mori Bea
hey! I found you all on twitter, and I love these tips!! they’re ones I’ve never seen online before, like tipping in other countries and travel insurance links…beautiful.
and that charles schwab tip…? I’d love that referral π
Josh Sedivy
Thanks so much Mori, glad our tips are useful for you! You’ll receive an invite from Schwab shortly. π
Erin Kincaid
Going to share this post! Awesome information for travelers! Please send the Schwab link too & thanks so much!
Happy Traveling!
#thetravellingwriter
Josh Sedivy
Thanks Erin, please do! Invite coming your way. π
Jennifer Vinson
Interested in more info about the CS card. Thanks!
Josh Sedivy
Coming your way, Jennifer! π
efi.mk
Great tips! They are not tips you usually see in other bloggers posts ! π
Josh Sedivy
Glad you like the article! We just like to share things that really work for us! π
Gloria Jorgenson
Good info as we’re gearing up for a U.K. trip! Would like the Charles Schwab info!
Josh Sedivy
You bet! Have a great trip! π
Rodrigo
Ok, now I have the urge to grab a bag and just go!! Haha great tips!
Josh Sedivy
Fantastic, our mission is accomplished! Safe travels, Rodrigo! π
Best Journey Point
Hello travelers! Nice tips for saving money, huh?! Here is one more tip! Search for the best deals and compare the top travel sites at https://www.bestjourneypoint.com
Keep saving money and traveling more!
Josh Sedivy
Thanks for the heads up! Safe travels. π
Melissa
Great tips! I’d love that Charles Schwab info!
Josh Sedivy
Hey, thanks! π You should receive an email from Schwab shortly.
Chevy Panlilio
Awesome info! Interested in that Charles Schwab referral.
Josh Sedivy
Thanks, Chevy! π Charles Schwab should be contacting you shortly!
Bob Linsey
Hello Neighbors (occasionally)!
Just sitting here enjoying the Washington Avenue scenery. While retired now, I doubt I’ll ever catch up with an itinerary like yours. I’ve got a couple of missions however. Have been to each of the Lower 48 and Quebec to British Columbia and everything in-between. Have you guys got the Maritimes (Nova Scotia, New Brunswick and Newfoundland) on your agenda. Alaska or the Yukon? Wondering if anything in Labrador or the NW Territories is worth a visit?
Would love the link to the Charles Schwab card. Can you use other bank’s ATMs stateside as well?
Safe travels! Bob Linsey
Josh Sedivy
Hi there Bob, great to hear from you!! π When it comes to the Americas we still have much to see. As they say, “We haven’t been everywhere, but it’s on the list!” We have not made it to the Maritimes, Alaska, or the Yukon, but hope to someday! Please keep us posted on how your travels go, and in the meantime, the Schwab card will save you from those pesky ATM fees, both internationally and at home. You should receive an email from them shortly. Josh and Krissy
Mary Kay
Interested in Charles Schwab checking account with no ATM fees worldwide!
Josh Sedivy
You bet, Charles Schwab should contact you shortly. π
Swapna R
Great article and helpful tips. Would like a Charles Shwab referral if still possible please. Happy and safe travels!
Josh Sedivy
You bet, coming your way! π
Samantha
Great post. I was glad to see that we do quite a few of these on your list but we don’t have a Charles Schwab card. Please send me the link for the $100 if it is still applicable. Thanks again for a great post. Happy travels!
Josh Sedivy
Sure thing, and safe travels! π
Sheryl
Is the Charles Schwab offer still available, as I would love that link? I am going to go travel around Europe for about 6-9 months and need to save money however I can.
Thanks
Josh Sedivy
You bet! You should receive an email from Schwab shortly.
Sandy
Hi Josh
Am interested in the Charles Schwab card. Is the deal still good. Are there other fees with the card we should be aware of? Traveling to Iceland in January!
Thanks!! Sandy
Josh Sedivy
Nope, the card is great, specifically for the reason that there are no fees. You should receive an email from Schwab, shortly. Have a ball in Iceland!! π
Deirdre Michalski
Great information here thank you! Pls. Send the Charles Schwab CC info. If still available. Be safe traveling!
Josh Sedivy
Thank you, Deirdre. You should see an email from Charles Schwab, shortly. π