Planning a trip abroad? Worried about accessing foreign currency or dealing with unfavorable exchange rates? Dacula's offers 10 tips to consider when planning for your financial travel needs:
- Avoid foreign currency exchange line hassles, high fees, and unfavorable exchange rates typical at airports, hotels, or foreign banks by purchasing currency before leaving.
- Have small denominations on hand to pay for taxi rides, tips, and meals. Take the U.S. dollar equivalent of $50 to $100 in currency per-person per-day to meet these expenses.
- Travelers cheques are available in U.S. dollars and foreign currencies including euros. Taking travelers cheques in the currency of your destination avoids calculating exchange rates when making purchases.
- Cash U.S. dollar travelers cheques at a bank rather than at a hotel, airport, or train station for a more favorable rate. A fee may be charged for each travelers cheque converted; it can be to your advantage to use cheques in higher denominations.
- Though credit card service providers charge a transaction fee per purchase, the exchange rate can still be competitive.
- Make sure your ATM PIN is in the proper format for the countries you will visit. Four-digit numeric PINs are standard in most countries.
- Know your daily ATM withdrawal limit and increase it if necessary.
- Alert your bank that you’ll be making withdrawals while traveling; otherwise your account may be suspended if unusual spending is detected.
- Before you leave, make a list of the account numbers of the credit cards you plan to take, the numbers of your travelers cheques, and the international phone numbers for reporting lost or stolen cards. Keep the list with you. Give a copy to a companion and to someone at home.
- Divide your money and travelers cheques with a companion, if possible. This way, if yours are lost or stolen, your companion has access to cash.
The Hamilton Mill Wells Fargo branch is one of three Gwinnett Wells Fargo locations offering international teller services. Customers and non-customers can now exchange U.S. currency for more 70 types of foreign currency at the branch without having to wait for the currency to be ordered and delivered.
“Many travelers need foreign currency as soon as they arrive at their travel destination, for expenses like taxis, tips or meals,” said Scott Asher, Gwinnett community bank president in a released statement. “We know our customers appreciate this convenience and we are pleased to offer foreign exchange services at these locations.”
Wells Fargo has a total of 18 international teller sites in metro Atlanta. In addition to the Hamilton Mill Wells Fargo, other Gwinnett locations include the Johns Creek and Suwanee McGinnis Ferry branches.
More information is available at wellsfargo.com/foreignexchange or by calling 1-800-626-9430.