When it comes to money when traveling abroad there are a few things you need to know.

Credit Cards

A week before you leave, call your bank and tell them where you are going and the dates.

Funny story: I called my two banks twice before going to Central and Eastern Europe. Nevertheless, one of them still put a block on a purchase I made when I was in Poland. I guess they did not believe I was purchasing train tickets in Poland.

Credit Cards are your best friend when traveling overseas. Everywhere I went in Czech, Poland, and Ukraine, I could use my US Visa and Mastercard credit card. 

Tip: Before going to Eastern Europe, I got a new Charles Shwab bank card. With just a little bit of online research, you will see that this card is the best for people who travel overseas. The main thing is that they pay you back your ATM fees. And remember, ATM fees overseas are much higher than fees you may have to pay in the U.S.

Currency Exchanges

When you go overseas, you are going to want to have some cash. Even with the ease of use of credit cards, you still want cash for taxis (if you don’t uber), souvenirs, tips.

The first time I went to Europe in 2006, I went to a local Wells Fargo and got Euros. This is unnecessary.

My suggestion is to google “fair currency exchanges,” or search on YouTube.com. For example:

Tip: I like getting cash out of ATMs in the Malls. The malls are for the locals, so the ATMs in there are fair.

Currency Converter App

When you are overseas, you need to know how much things cost. At a minimum, you need to know how much the U.S. dollar is worth. The US dollar is abbreviated as the USD.

Tip: I use XE Currency App

In this random screenshot, 183 Ukrainian Hryvnia equals $7 US dollars.

Tip: Be careful about the price of goods even when the US dollar is much stronger than the local currency.  In the tourist areas of many cities, you may pay high prices because you are just paying more of the local currency. 

For example: In Sweden, you will pay $18.00 for a mixed drink even though the U.S. dollar is much stronger than the Swedish Krona.